See the Profit Tips
and White Papers as described on
this page. You may use any of this material gratis, provided the
item is appropriately sourced to Michael Hough at www.profitabletradeshow.com
and it is not used for commercial purposes.
Also, be sure to use the links to the web sites for our two events:
Convention Executives Forum (ECEF) and Large
Show Roundtable (LSR).
We have a total of 138 pithy, thought provoking and bottom-line
Tips that cover all facets of producing a profitable trade show
including marketing, sales, operations and more. Click
here to access all the Profit Tips.
Sample Profit Tip
Improving Cash Flow
Cash flow in our business did not used to be a problem—
it was always one of the major perks of producing a trade
show. Now some shows are having problems keeping incoming
revenue ahead of outgoing expenses. That is because many
exhibitors are taking advantage of the market downturn
-- and holding back on making those advance payments.
To keep your cash flow positive, the
overall goal is to speed up collections and slow down
payments. Here are some tips:
- Never assume a yes is a yes. Continue selling the
benefits of the show till you get the first payment
(and a signed contract).
- A signed contract is critical because it allows you
to enforce your payment policy. And one clause must
be —you sign the contract, you owe the booth fee
even if you cancel.
- Have a no exception rule that exhibitors must be current
with your payment schedule to be allowed to order onsite
services. And be sure your contractors know who is delinquent.
- Really push early bird conference registrations—such
as a 50% discount four months out.
- Negotiate better payment terms with the venue—such
as 10% 12 months out, then 30% eight months out, another
30% four months out and the final 30% 30 days out. Do
the same with your contractors.
P.S. If you offer a discount for early booth payment,
word it this way: "Amount due $2800. Deduct $200
if paid by September 1." Do not say, "$2600
if paid by September 1." In the latter case, the
exhibitor will fixate on "$2600" and that is
all you will get even if the check arrives in January.
About Michael Hough
Hough is a consultant who specializes in advising on the strategy
and tactics of organizing profitable trade shows. He co-founded
the A/E/C SYSTEMS show and was recently Senior Managing Director
with Penton Media, Inc. He is a founding member of the Society
of Independent Show Organizers (SISO) and has lectured and written
extensively on the various aspects of producing shows.
Along with his partner Sam Lippman, Mike is producing two events
that have proved to be very popular with the key people in our
Exhibition and Convention Executives Forum (ECEF) held each May
in Washington, DC. ECEF brings together top level event producing
executives to discuss strategic issues. Click
here to access.
Large Show Roundtable (LSR) held in various cities throughout
the year. LSR is an invitation-only peer level, free form discussion
for show managers of Top 200 shows. Click
here to access.
Permission granted to use any of this material as long as
it is for non commercial purposes (that is, no money is charged
for it) and provided it is credited to Michael Hough at www.profitabletradeshow.com.
Copyright © 2003 MRH Associates
Inc. All rights reserved.