Event Business: Overdelivery als Wachstumsstrategie prüfen

0:00Unternehmer/Gast We do balloon and flower decorations. Balloon and flower. Okay. Yeah, uh to people who want to throw a party. >> Can you hear me? Yeah. Just so they can hear you. Okay. Uh our revenue is 400k. And uh we would like for 2025 to be to 1 million. Okay. Well, um what's stopping me? Uh we went through like a strategy to go from small events to bigger events because we wanted to do a higher ticket client.

0:29>> So, what we were doing is over delivering, >> Sure. making it bigger than they already paid for, so the next one is going to see what we already did and make it even bigger and bigger. And that's how we we went here. All right. >> So, what is your advice? Is this something that we need to continue doing or because we are in that position that our events are pretty big now, but I feel like we don't have the good amount of percentage of closing deals with

0:59>> Okay. high ticket clients. So, interest Okay. So, how different is the deliverable in terms of your operational strain for small, middle, big events? Like, is it is it cuz So, it gets it's it's important to zero in on an avatar if the operations or the delivery is materially different because then it basically it's like you have two different businesses and you don't want that. But, if if if let's say let's say I have a painting business, whatever. Uh and me painting something this big or this big is more or less still me with a brush and paint and it just takes me less time to do this than it takes me to do this, then I'm way more flexible on having a product that can serve a small avatar that might There might be a lot of volume with. Exactly. And so, that's the question to you. Is it materially different? Is it very different to have big people versus small people?

1:58Alex Um >> Little people. If um it it is different. Like, there there's a significant difference. Okay. >> But, we still going to use kind of the same time to do the same thing. Like, if I'm going to an event to do an event and it's small, I'm still going to use kind of the same time that I would use for the Oh, but you don't have the same margins. Yeah. Okay. Yeah, if it costs you the same and you just have to charge less, I'm not a fan.

2:25Alex Um so, it said differently, if you could have only the bigger events, would you just do that? I would definitely. >> you have a lead gen issue. So, you have to be able to get the type of customers that you want from marketing and advertising. That's the issue. So, it's So, this is actually this is great cuz this is a common thing where it's like, should I change my business model Yeah. because I only have this many of this person. Well, unless the marketplace like given your revenue.

2:54Now, if you were at like, call it 30 million a year or 80 million or 100 million a year, I'd be like, you might have a material you might have a huge chunk of the market. And so, at that point it's like it's a strategic move of like, okay, we're going to we're going to try and capture this other market, too, and we have a way of going after these small minnows with a much leaner process that we can get down to just as good of margins as our big one because we've gotten really efficient so that we can serve those people faster, doesn't take our time, blah blah blah blah. Right? That would make sense. But, given the fact that you're at 400 a year, we just need to get more customers that are the right fit.

3:24>> Exactly. So, yeah. That's That's what I'd be focused on. And so, let's click one more. So, how are you getting your customers right now? So, everything is through referrals and paid ads on Instagram. >> Okay. What percentage is paid ads? Uh I'm sorry. What percentage of the business is paid ads? Um It's around I think it's around 80%. Okay. So, yeah, so majority ads. Okay, fine. >> Yeah, it's most mostly ads. Okay. So, what stops you from spending more money on ads?

3:52Well, let's do that. >> [laughter] >> Yeah, let's do that. Forget the forget the the small fries. If you can just spend more and you still have good LTV to CAC, so how much it costs you to get a customer versus how much you make. If that's still good, Yeah, it's it's it's good right now. It's like 58:1. Yeah, well, spend more. This is great. You're selling air and plastic. I love it. >> [laughter] >> You know? You know? And little kids. So, no, you have So, it's great. I think you just need to you just need to gas it.

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