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Navigating Economic Chaos: Protecting Your DJ Business
SUPPORT THE PODCAST and level up your DJ career. Join our Patreon for exclusive business insights and strategies.
http://patreon.com/MobileDJMastery
In this high-energy episode, DJ2FOUR7 dives deep into the real-world economic pressures hitting the DJ industry right now. With global uncertainties, skyrocketing inflation, and insane petrol prices, it’s time to take a hard look at the numbers behind your business. Plus, we tackle Shiny Object Syndrome head-on, reminding you that a brand-new controller won't let you charge more, and a true master can shell a party on a Numark Party Mix!
KEY TAKEAWAYS
Recalculate your travel distances: With fuel costs going through the roof, your old mileage formulas might be putting your gigs in the red. Review your numbers and try to prioritize more local bookings to keep travel expenses low.
Hold the line on your pricing: Avoid panic-discounting your rates just because inquiries might be slowing down. Discounting devalues your brand and is unfair to the clients who already paid your full rate.
Bundle services to add value: Instead of slashing your fee, take the unused gear sitting in your lockup and bundle it into your packages to give clients premium value.
Resist Shiny Object Syndrome: Do not buy new, expensive gear unless it guarantees a clear return on investment. You cannot charge a client more just because you upgraded your controller.
Audit your monthly expenses: Take a microscope to your business outgoings. Pause any unused subscriptions, lower unnecessary ad spends, and focus on free networking with other event suppliers to generate leads.
BEST MOMENTS
"We don't know where it's gonna go, we don't know what exactly is gonna happen, but we're in the trenches right about now."
"I'm looking at the way I've done my mileage and I'm like wait, hold on a minute, that doesn't make sense currently right now. I think I might be at a loss."
"Discounting I feel isn't fair for the people that have booked you before and paid the fee that you asked."
"Is there an ROI on it? Am I going to get a return on investment with a new DJ controller? And my business brain says no. You can't increase your price because you've given yourself a better controller."
"Currently right now, we need to slow down on all of those purchases because we don't know when the petrol prices are going down, man!"
OUR SOCIAL LINKS
https://dj2four7.com/
https://www.instagram.com/dj2four7/
https://www.instagram.com/mobiledjmastery/
https://www.tiktok.com/@2four7dj
HOST BIO
With over 20 years in the entertainment industry, DJ 2FOUR7 brings a wealth of experience to this podcast. From DJing in bars, clubs, and festivals to hosting nightclub events and promoting large-scale festivals, DJ 2FOUR7 has done it all. As one of the first urban promoters to launch an international independent festival in Malta, he also built and managed his own distribution and marketing business. During the lockdown, DJ 2FOUR7 created a groundbreaking pop-up DJ concept that achieved massive online success. Today, he leads a thriving entertainment business specialising in weddings and corporate events. Combining innovation, passion, and humour, DJ 2FOUR7 is the ideal guide to help aspiring DJs elevate their careers.
This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/
View all episodes
By DJ 2FOUR7SUPPORT THE PODCAST and level up your DJ career. Join our Patreon for exclusive business insights and strategies.
http://patreon.com/MobileDJMastery
In this high-energy episode, DJ2FOUR7 dives deep into the real-world economic pressures hitting the DJ industry right now. With global uncertainties, skyrocketing inflation, and insane petrol prices, it’s time to take a hard look at the numbers behind your business. Plus, we tackle Shiny Object Syndrome head-on, reminding you that a brand-new controller won't let you charge more, and a true master can shell a party on a Numark Party Mix!
KEY TAKEAWAYS
Recalculate your travel distances: With fuel costs going through the roof, your old mileage formulas might be putting your gigs in the red. Review your numbers and try to prioritize more local bookings to keep travel expenses low.
Hold the line on your pricing: Avoid panic-discounting your rates just because inquiries might be slowing down. Discounting devalues your brand and is unfair to the clients who already paid your full rate.
Bundle services to add value: Instead of slashing your fee, take the unused gear sitting in your lockup and bundle it into your packages to give clients premium value.
Resist Shiny Object Syndrome: Do not buy new, expensive gear unless it guarantees a clear return on investment. You cannot charge a client more just because you upgraded your controller.
Audit your monthly expenses: Take a microscope to your business outgoings. Pause any unused subscriptions, lower unnecessary ad spends, and focus on free networking with other event suppliers to generate leads.
BEST MOMENTS
"We don't know where it's gonna go, we don't know what exactly is gonna happen, but we're in the trenches right about now."
"I'm looking at the way I've done my mileage and I'm like wait, hold on a minute, that doesn't make sense currently right now. I think I might be at a loss."
"Discounting I feel isn't fair for the people that have booked you before and paid the fee that you asked."
"Is there an ROI on it? Am I going to get a return on investment with a new DJ controller? And my business brain says no. You can't increase your price because you've given yourself a better controller."
"Currently right now, we need to slow down on all of those purchases because we don't know when the petrol prices are going down, man!"
OUR SOCIAL LINKS
https://dj2four7.com/
https://www.instagram.com/dj2four7/
https://www.instagram.com/mobiledjmastery/
https://www.tiktok.com/@2four7dj
HOST BIO
With over 20 years in the entertainment industry, DJ 2FOUR7 brings a wealth of experience to this podcast. From DJing in bars, clubs, and festivals to hosting nightclub events and promoting large-scale festivals, DJ 2FOUR7 has done it all. As one of the first urban promoters to launch an international independent festival in Malta, he also built and managed his own distribution and marketing business. During the lockdown, DJ 2FOUR7 created a groundbreaking pop-up DJ concept that achieved massive online success. Today, he leads a thriving entertainment business specialising in weddings and corporate events. Combining innovation, passion, and humour, DJ 2FOUR7 is the ideal guide to help aspiring DJs elevate their careers.
This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/