n this episode of the Events Demystified Podcast, host Anca Platon Trifan dives into the business side of AV event production with Tom Stimson, President of Stimson Group, LLC. They discuss the pitfalls of traditional rental-based pricing models and the importance of charging based on expertise, creativity, and strategy. Tom shares insights from his decades of experience advising AV companies and offers practical advice on improving profitability and redefining value in the event production industry. Tune in for a deep dive into labor challenges, technology advancements, and smart business practices that can help event professionals thrive.
00:00 Introduction and Episode Overview
00:18 The Pricing Trap in Event Production
02:32 Guest Introduction: Tom Stimson
04:08 Tom's Journey and Lessons Learned
05:41 Challenges in AV Production Pricing
08:02 Historical Context of AV Pricing Models
10:19 The Value of Pre-Production Time
12:25 Breaking the Cycle: Charging for Value
15:00 Negotiating Terms and Managing Risk
19:44 The Importance of Setting Expectations
25:24 Smarter Ways to Approach Event Production
29:52 Navigating Budget Conversations
31:30 The Importance of Honest Budgeting
33:27 Addressing Labor and Talent Shortages
35:16 Rethinking Pricing Models
38:06 The Value of Experience and Expertise
43:31 Regional Pricing Variations
48:49 Future of Event Production Business Models
55:13 Final Thoughts and Advice
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Sponsored and Produced by Tree-Fan Events Production LLC. Let's change the way we plan, produce, and experience events together!
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