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Marketing

#MondayMotivation: Are You Seeing the Whole Picture?

Looking for a little #MondayMotivation? We’re pulling out past stories that are still just as relevant today. Here’s a pearl from Jim: Is Your Marketing Working? How to Know for Sure. Event marketing isn’t easy. You have to make a lot of decisions about what you’re going to do to get people showing up and paying to see your event. Some of the things you’ll try (Google AdWords, for example) will come complete with excellent data about exactly what happened in your campaign....

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#TBT

#TBT: Powerlessness Corrupts

Happy #TBT. To celebrate, we’re sharing an oldie-but-goodie post from Jim: Powerlessness Corrupts. I read that in a book by Rosabeth Moss Kanter about what happens when people in an organization begin to feel that they have no ability to influence events, or when they feel that the destiny of themselves or their organization are out of their control. (It’s also nicely summarized in this Harvard Business Review article, too.) That’s what I thought of when I read the collection of...

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News

Paying Better Wages Pays Off

In his post "The Competitive Advantages of Overpaying," Jim speculated about what happens when an organization pays better than market. He used actors as an example, but he also broadened the topic to include mention of Goldstar: "I believe strongly that strategically overpaying for talent is one of the smartest things a business or organization can do. ... In our own organization (Goldstar), we have deliberately raised starting salaries above market in several key areas over the years, especially customer...

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P&L

You Can’t Cut Your Way to Greatness

When businesses and organizations reduce their costs, one of two things happens. Either they stop being able to do something useful that they previously could do, or they stop wasting resources that weren’t doing them any good. Of course, it’s more nuanced than that. Most budget cuts probably do at least a smidgeon of both, though I would say that in most cases, it’s clearly more one than the other. All organizations gradually accumulate “wasted” costs. It’s pretty natural because...

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Innovation

Broadway Should Encourage Risk Tolerance of Innovative Shows

If you missed it, last week the producers of Spider-Man: Turn Off the Dark announced that the show is closing on Broadway and moving to Las Vegas. I've heard talk from all the way back when the show opened that a Las Vegas production was in the cards, but the goal presumably was to run two versions of the show, not to move it. I think the Vegas show makes a lot of sense and will be extremely popular. Vegas...

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Pricing

Price Has Nothing to Do With Costs

When I talk about this, people look at me puzzled. A couple years ago, Michael Kaiser, smart guy and Big Chief of the Kennedy Center, wrote an article on Huffington Post that gives me a starting point for what I want you to understand about prices: “The central challenge facing arts managers is to fill the ever-widening gap between rapidly increasing expenses and earned income, primarily from ticket sales. This gap continues to grow each year since the number of seats...

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