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Is it for ego, or for profit?
Manage episode 415630009 series 3523770
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In this episode, David Osborne discusses the importance of making decisions for profitability rather than ego in the multi-op DJ industry. He shares his personal experience of expanding his business to include live musicians and the financial challenges it created. He emphasizes the need to focus on core offerings and maintain a healthy profit margin. Osborne also provides industry standards for profitability and explains how to calculate costs of goods sold and fixed expenses. He encourages listeners to make decisions based on profit and scalability, rather than following trends or trying to look cool on social media.
Takeaways
- Make decisions for profitability, not ego, in the multi-op DJ industry.
- Focus on core offerings and maintain a healthy profit margin.
- Understand industry standards for profitability, including costs of goods sold and fixed expenses.
- Consider scalability when making business decisions.
- Avoid following trends or trying to look cool on social media if it doesn't contribute to profitability.
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