Tom Stimson, a seasoned business consultant specializing in the live event production industry, and Roy van den Broek, CEO of Rentman, bring their wealth of experience to the table. Tom, with over 40 years in the industry, and Roy, who transitioned from a sound engineer to the CEO of Rentman, share their unique perspectives on the evolving challenges in the AV industry.
Here are the highlights from the live session with Tom and Roy:
1. Future-proofing business planning
2. From doing shows to getting shows done
3. Standardization over customization
4. Attracting and retaining top talent
5. Future-proofing the sales process
6. Scaling while maintaining quality and profitability
Future-proofing business planning
In an industry where technology evolves quickly, future-proofing your business planning has become necessary. Future-proof planning means creating strategies and processes that are robust enough to withstand disruption, yet flexible enough to adapt to changes. As Tom explains, this type of planning ensures that companies are prepared for inevitable changes, whether from technological advancements, shifting client expectations, or market dynamics.
With a plan, companies can start from scratch each time something changes. However, with a solid framework in place, businesses can adjust and move forward without unnecessary delays. Future-proofing also reduces confusion, improves communication, and ensures that teams can focus on execution rather than troubleshooting. This proactive approach is particularly crucial in today’s market, where events are often confirmed last minute, and technology makes it easier to execute shows with less lead time.
From doing shows to getting shows done
One of the key takeaways from the session is the shift from simply “doing shows” to “getting shows done.” In other words, success in live event production isn’t just about executing the technical aspects of an event but ensuring that the entire process - from planning to execution - is seamless and efficient.
AV companies need to focus on operational processes, ensuring that the right equipment, people, and plans are in place to deliver a great show. This distinction highlights the importance of preparation, as well as the need to think beyond the technical side of events. For instance, AV companies need to anticipate potential issues, make sure that all logistics are covered, and most importantly, leave nothing to chance. Success is not just about technical execution but about making sure the right resources are in place to guarantee smooth, trouble-free events.
Standardization over customization
Another major point of discussion was the balance between standardization and customization in event planning. While customization might seem necessary for every client, excessive customization can lead to inefficiencies and increased costs. Tom argues that too many AV companies fall into the trap of over-customizing their services, believing that each show is a unique project.
However, this approach often leads to mistakes, slows down the quoting and planning process, and complicates execution. Instead, Tom advocates for more standardization in both equipment and processes. By focusing on a core set of standardized services, companies can streamline their operations and reduce the time spent on quoting and planning.
Standardization doesn’t mean sacrificing client satisfaction - it means being able to provide reliable solutions faster and more efficiently. When standard systems are used, AV companies can better manage resources and consistently meet client expectations.
Attracting and retaining top talent
A key challenge in the AV industry is attracting and retaining skilled talent. For companies looking to grow, building a reliable pool of skilled freelancers and employees is essential. Tom emphasizes that the best talent often comes through referrals from existing top performers. Word-of-mouth and professional networks are vital in attracting freelancers who not only have the right skills but also align with the company’s values and work ethic.
Once hired, ensuring freelancers feel valued and supported is crucial for retention. AV companies that treat freelancers like partners, providing them with the resources and support they need on-site, are more likely to build long-lasting relationships. Providing timely payments, quality equipment, and a strong support system are all factors that contribute to keeping top talent engaged.
Future-proofing the sales process
Future-proofing isn’t limited to business planning - it also extends to the sales process. Tom argues that one of the most important shifts AV companies can make is moving from selling line-item services to selling outcomes. Rather than focusing on individual components, sales teams should focus on understanding and fulfilling the client’s ultimate needs.
This approach helps align the sales process with operational realities, leading to more efficient project planning and execution. By standardizing sales packages and ensuring that quotes are comprehensive but not overly detailed, companies can reduce the time spent on proposals and streamline the transition from sales to operations. This also reduces the likelihood of miscommunication between teams, ensuring that what is promised during the sales phase can be delivered effectively.
Scaling while maintaining quality and profitability
For smaller AV companies looking to scale, maintaining quality and profitability is a top priority. Tom advises companies to focus on serving ideal customers rather than chasing revenue from any available source. Not every project will be a good fit, and trying to scale too quickly can lead to sacrifices in quality.
Instead, companies should build their reputation on delivering consistently excellent results for the right clients. By identifying a core group of customers and concentrating on serving them well, small businesses can grow sustainably. The emphasis should be on maintaining gross profit margins and ensuring that every project is executed to the highest standard, regardless of its size.
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