Blog articles matching the “The Money” category.

How much did you make? Revenue v. Profit in Your Event Rental Business

I want to encourage you that you can do this. Event rental businesses are great models for scalable growth. There is a lot of potential for people who have curated collections, lean infrastructure, and are savvy with their marketing. Strive to increase your revenue without increasing your expenses (focus on utilization— rent more of what you have before you buy more, maximize the space you have with vertical storage before moving, etc.). Read more

Published in The Money.

Friday Q&A: Harnessing the Power of Incentives

If you do decide to offer a discount policy or a referral program, make it great! Create an exclusive club for them to join or make a "platinum status" available only to planners. I would encourage you to have a clearly defined policy. It should also be something that you are transparent about (maybe even have on your website). In order for it to not feel icky or under-handed (especially to your end client), you don’t want it to be a secret. You also want to leverage it to get more business from planners and venues. Don't hide it, make it attractive and something people want to get in on. Read more

Published in Grow Grow Grow, The Money.

Lessons from a Lemonade Stand

While some may think of a lemonade stand as a childhood right-of-passage or something to keep their kids busy for an afternoon, I experienced it as a window into entrepreneurship and small business ownership. I suppose I can’t help but think about what makes successful businesses tick but this sweet afternoon with my kids was kind of eye-opening actually. Here are some of the truths I was reminded about. Read more

Published in Biz Operations, Grow Grow Grow, The Money.

How to get paid faster!

We recently did a deep-dive into some data from our RW Elephant clients. We were curious to know what payment methods were most effective at helping our users close sales faster. Do you know what we found? Read more

Published in Biz Operations, The Money.

2017 Event Rental Success Groups

Do you ever wonder how other Event Rental Businesses deal with the problems you're facing? Wouldn't it be great to hear how others in your position handle damages? How do they find their crew members? What is their deposit policy? Where do their ideal clients come from? What is their average rental amount? How much do they charge for delivery? Read more

Published in Biz Operations, Grow Grow Grow, More, The Money.

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