Lessons from the Business of Show Business

No Business Like Show Business

It was not my first time.

I remember.  It was more than 15 years ago when I produced my first show.  It was in a southern province, accessible by land (8 hours) and by air (45 minutes).  We partnered with someone who was introduced to us as the wife of a Brunei prince.  Such was the rage at that time and many young women – some described as desperate, others gold diggers, others still victims of their own beauty (and another’s greed) – fell for the charms of dark-skinned princes, giving birth to scions of royalty.

Indeed she was beautiful and was moneyed and was very much interested in bringing to her hometown some showbiz denizens.  “To make my mother happy,” she quipped.

The show was a moderate success and we learned a lot.  One partner made some unnecessary trips by plane which added to the expenses; the people that we tapped to get sponsors did not deliver (they got zero sponsors); the souvenir program was overpriced (we ended up hauling the whole lot back to headquarters); it was not easy.

I was reminded again of these lessons when we did “Love in the Key of R”.

It was early January when my friends and I decided to go ahead and produce the post-Valentine concert.  Yes, we were talking and discussing it as early as November and December but no decisions, or commitments, were made.

I do not know why we went ahead and did it when at the back of our heads we knew time was going to be an issue.  But I guess it was the entrepreneur spirit – which we all had in common – that egged us on, daring us to try and see if we can make it with just 5 weeks preparation.

We did.  Here are the lessons we learned:

1. At least 3-6 months should be allotted for the production of a show.
2. Most if not all of the equivalent time (3-6 months) should be allotted to court potential sponsors. The money from sponsors should be enough to cover the whole of the potential expenses.
3. More time means you will be able to gauge the responses of the sponsors early on – is the show interesting enough for them to give you their advertising money, is the show current or relevant, are you targeting the correct market, should you cancel the show. And more time to gauge the responses of the public – did you get the right performers, the right mix, the right hook, the right venue, the right promotions.  Find these out and then make the necessary adjustments (because with time, you can).
4. Do an ocular inspection of the venue. If a venue says their capacity is 1,000, you have to see proof that it is 1,000, short of counting the chairs yourself.  This is because the amount of expense depends on the amount of money you expect to come in.  If the chairs ain’t there, the money (equivalent to the figure you have in your head) will not be there (it is heartbreaking to turn people away because there are no seats and you are still short of your target). Fumble on that and you fumble on the whole basis of why you are doing the show, which is to make money for you.
5. Expense, although covered by the sponsors, should only be 10 to 20 to a maximum of 30 percent of your projected income.   Exceed that and you are already treading on dangerous waters.
6. Ask around, do your research.  Is the venue overcharging you?  Are your performers overcharging you?   Are you getting a good deal?  Because you should be getting a good deal.
7. Set your threshold.  If you think getting USD$100, USD$500 or USD$2,000 profit for each partner in the venture would make anything worthwhile (this is, after all, hard work), do it.  If you think it will fall below what you expect to get, do not bother.
8. Promote, promote, promote.
9. Blogs work (my heartfelt thanks to my readers).
10. Have fun.  It is work but it is fun.  Imagine us having our pictures taken with the stars of our show, having our own backstage pass, ushering friends and guests in and out, making a lot of people happy.  Show business is indeed fun business.

Yes, we did make it, but by the skin of our teeth.  No money was lost and some was gained.  It was sort of cavalier, really, this attempt.  But we got our feet wet, which is what we wanted to happen.  And everyone worked to make sure this venture will work – some got sponsors, other sold tickets, some volunteered their employees to help.  And everyone stayed until 4am the next day, which I think says a lot about commitment.

Just do it – they say.  We did it.  And we will do it again.

Be rich,

Issa

Article by Issa. Art by D. Copyright 2010.
Website: www.YouWantToBeRich.com
Email: issa@youwanttoberich.com

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