11/9/15 Progressive Education for Event Professionals Wedding & Event Design ! with Lindsay Landman ! 1 1 Week 8: The Business of the Business 2 Week 8: The Business of the Business Client Connection 3 1
11/9/15 Identifying Your Client • Their needs vs. your Their needs vs. your • Budget Budget services services • Do you ask? Ugh. Do you ask? Ugh. • Don’t try to be everything to Don’t try to be everything to • Minimums. Ugh. Minimums. Ugh. everyone everyone • Making it work. Ugh. Making it work. Ugh. • Align touch points and Align touch points and • Ugh. Ugh. strengths strengths • Style Style • Aesthetics Aesthetics • Working style Working style • Communication Communication 4 4 Helping a Client to Identify You • Building a brand Building a brand • Brand consistency Brand consistency • Your best self Your best self • Photography Photography • Your perfect client Your perfect client • Messaging Messaging • Your ideal event Your ideal event • Vocabulary Vocabulary • Your best design Your best design • Brand specificity Brand specificity • Living your brand Living your brand • Know when to say “no” Know when to say “no” • Website Website • Using your lens Using your lens • Office décor Office décor • Social media Social media 5 5 Conveying Your Style • Identify your style Identify your style • Communication or Voice Communication or Voice • Visual Visual • Know it Know it • Verbal Verbal • Own it Own it Brand • Brand • Love it Love it • Understand the Spectrum Understand the Spectrum • Show versatility Show versatility • Events Events • Use many tools Use many tools • Design as a whole Design as a whole • Find many connection points Find many connection points • Art as a medium Art as a medium • Environmental flexibility Environmental flexibility 6 6 2
11/9/15 Understanding Their Vision • Look Look • Ask questions Ask questions • Style choices Style choices • Thoughtful Thoughtful • Mannerisms Mannerisms • Relevant Relevant • Reactions Reactions • Leading Leading • Listen Listen • Broaden the scope Broaden the scope • Narrative Narrative • You do the work You do the work • Context Context • Take the reigns Take the reigns • Concerns/Anxieties Concerns/Anxieties • Zoom out Zoom out 7 7 Week 8: The Business of the Business Proposals and Contracts 8 Client Proposals Two Schools of Thought: Two Schools of Thought: • What I Have Done What I Have Done • Portfolio Portfolio • Referrals and references Referrals and references • Press Press • What I Will Do What I Will Do • Pitch new ideas Pitch new ideas • Offer pricing Offer pricing • Customize Customize • Respond to “RFP” Respond to “RFP” 9 9 3
11/9/15 Client Proposals What I Have Done: What I Have Done: • Pros Pros • Expend less effort at outset Expend less effort at outset • “Saving” creativity for contracted clients “Saving” creativity for contracted clients • Faster turn around on proposals Faster turn around on proposals • Cons Cons • Difficult to build trust from cold lead Difficult to build trust from cold lead • Difficult to secure corporate business which may require an Difficult to secure corporate business which may require an “RFP” “RFP” • Challenging to convey specifics of monetary value Challenging to convey specifics of monetary value 10 10 Client Proposals What I Will Do: What I Will Do: • Pros Pros • Exhibit output for client from outset builds confidence Exhibit output for client from outset builds confidence • Ideas have concrete composure Ideas have concrete composure • Less work after client contracts Less work after client contracts • Cons Cons • Spend time and money on proposals that may not turn into Spend time and money on proposals that may not turn into business business • Provide creative concepts that may be replicated by a Provide creative concepts that may be replicated by a competitor competitor • Incorrect guesswork may alienate prospective client Incorrect guesswork may alienate prospective client 11 11 Contracts • Just enough legal, but not too much Just enough legal, but not too much • Customize per event and per client Customize per event and per client • Timeline Timeline • Fee structure Fee structure • Make rules that make sense and that you are willing to Make rules that make sense and that you are willing to uphold uphold • Understand your marketplace Understand your marketplace • Industry standards Industry standards • Know your sticking points Know your sticking points 12 12 4
11/9/15 Week 8: The Business of the Business Design and Communication Process 13 Develop Your Process Create a step-by-step process to: Create a step-by-step process to: • Translate visuals Translate visuals • Build confidence Build confidence • Create organic organization Create organic organization • Aid communication with clients and vendors Aid communication with clients and vendors 14 14 Convey Your Process Creativity and artistry is mysterious to many, so it requires a Creativity and artistry is mysterious to many, so it requires a linear roadmap. This is the LLE process… linear roadmap. This is the LLE process… Step 1: offer color palettes and mood boards Step 1: offer color palettes and mood boards Step 2: solidify palette and mood; offer floral and materials palettes Step 2: solidify palette and mood; offer floral and materials palettes Step 3: solidify floral and materials; offer branded solutions and floor plans Step 3: solidify floral and materials; offer branded solutions and floor plans Step 4: solidify Step 4: solidify floorplans floorplans; offer renderings or sketches to show complete ; offer renderings or sketches to show complete vision vision Step 5: present live sample of major elements Step 5: present live sample of major elements Step 6: prepare production documentation based on live sample and Step 6: prepare production documentation based on live sample and verification of all details verification of all details 15 15 5
11/9/15 Market and Sell Your Process Substance beyond style! Substance beyond style! • Process breeds confidence Process breeds confidence • With clients and with your team With clients and with your team • Process exhibits organization and business acumen Process exhibits organization and business acumen • Process identifies your style as much as your outcomes Process identifies your style as much as your outcomes • Express your brand through your process Express your brand through your process 16 16 Week 8: The Business of the Business Budgeting and Pricing 17 Budgets • Be realistic Be realistic • Do research Do research • Include your fees/costs Include your fees/costs • Account for overages and mishaps Account for overages and mishaps • Account for taxes, deliveries and surcharges Account for taxes, deliveries and surcharges • Keep it up to date Keep it up to date • Be confident Be confident 18 18 6
11/9/15 Fee Structures • Flat fees Flat fees • Percentages Percentages • Hourly Hourly • Retainers Retainers • Commissions Commissions 19 19 My Fee Structures Social and Non-Profit Events Social and Non-Profit Events Corporate Events Corporate Events 1. 1. Flat fee for planning and Flat fee for planning and 1. 1. Percentage of total event Percentage of total event design based on type and design based on type and expenditure expenditure scope of event scope of event 2. 2. Minimum fee imposed on Minimum fee imposed on 2. Product invoiced 2. Product invoiced all events all events additionally additionally 3. Minimum fee imposed on 3. Minimum fee imposed on all events all events Transpar ransparency is KEY! ency is KEY! 20 20 Setting Your Fee Do the Math! Do the Math! 1. 1. Hard costs Hard costs a. a. Rent Rent b. b. Utilities Utilities c. Staff c. Staff d. d. Samples and materials Samples and materials e. e. Travel and transportation Travel and transportation 2. 2. Time with the client Time with the client 3. 3. Time away from home Time away from home 21 21 7
11/9/15 Week 8: The Business of the Business More on Pricing 22 Pricing Product • Wholesale Wholesale • Goods from your suppliers Goods from your suppliers • Retail Retail • Transfer of goods to your customers Transfer of goods to your customers • Cost Cost • Wholesale goods plus time, assembly, transport, etc. Wholesale goods plus time, assembly, transport, etc. • End price End price • Tax, delivery, shipping Tax, delivery, shipping 23 23 Pricing Product 14” square wood base 14” square wood base $8.50 $8.50 36”x3” white birch trunk 36”x3” white birch trunk $32.00 $32.00 4 L-brackets with screws 4 L-brackets with screws $5.00 $5.00 2 Oasis rings 2 Oasis rings $11.00 $11.00 3 Oasis cages 3 Oasis cages $12.00 $12.00 Sure- Sure-stik stik and floral tape and floral tape $5.00 $5.00 1 bale camellia leaves 1 bale camellia leaves $85.00 $85.00 7 large white hydrangea 7 large white hydrangea $30.00 $30.00 15 roses 15 roses $15.00 $15.00 6 green viburnum 6 green viburnum $18.00 $18.00 7 medium white 7 medium white dendrobium dendrobium $12.50 $12.50 8 white snapdragon 8 white snapdragon $6.00 $6.00 1 white 1 white phaleonopsis phaleonopsis (in tubes) (in tubes) $18.50 $18.50 Retail pricing can be anywhere from 2.5 x 2 hours design time 2 hours design time $60.00 $60.00 to 4 x the COST of a product. TOTAL COST $318.50 24 24 8
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