New Years Eve Party Success

Happy New Year!

I hope you had a lot of fun celebrating, or cashing in, on New Years Eve.

I'm sorry I haven't written in a while, but this was the busiest I've been in years. It's been non-stop since Halloween.

2007 brought my most profitable Halloween and tied for my top Thanksgiving Eve...but New Years Eve was out of control. I literally doubled the profits of my next best new years eve.

DOUBLED!

I was involved with 4 parties this year (some on a much greater level than others) which is one more than usual, so i figured i would make a little more money...but not DOUBLE!

...and i wasn't the only one making money this year...

After speaking with some of my friends in the business and even a couple of competitors, i realized that EVERYONE had a huge year.

I've read that America is headed for a recession and times are tough, but you would never know that in the nightlife industry.


I thought it was just me throwing amazing parties and promoting them like crazy, but it turns out that most promoters I know in New York, LA and Miami had HUGE years.
(I imagine the same is true for most of the country)

I can't believe there are that many people out there looking to party, but the numbers at these parties don't lie.

...But with all the craziness over the past 2 months putting together these parties, i haven't had a minute to relax...

So, again, I'm sorry for not writing, but I'm back now and will be updating my blog much more often.


Note: I've got a lot planned for 2008, with the party promoter guide and for promoting in general, (for example, I'll be running some of the parties that are taking place at the Sundance Film Festival over MLK weekend) so be sure to check out my blog and my weekly emails.

In the meantime, if you have a success story from Halloween, Thanksgiving Eve, or New Years Eve, be sure to send them to me right away. I'm going to compile a list of the best ones to share with everyone. (I've already gotten a few great ones.)

Also, if you have any questions about promoting or you have come across any problems starting your business / running your business, feel free to email them to me and I'll be posting the best Q&A's on my site and blog.

A Couple of Huge Reasons to be a Promoter...Right Now

The next few months are what many promoters often call their "busy season"...but instead of just one holiday like Christmas, we have 3!

I love to throw Super Bowl, Valentine's Day, St. Patrick's day and all those other holiday parties...but the reality is, they are just a tiny fraction of what you can earn compared to one of the "big three" parties.


They are:
3) Halloween
2) Thanksgiving Eve
1) New Years Eve


I've been in this business a long, long time, and for me, New Years Eve is always my biggest party of the year.

...But I've worked with big time promoters that make much more money on Halloween and I know a lot that swear Thanksgiving Eve is their most profitable party of the year.

...regardless of which party is the biggest, they are all very lucrative and you should be involved with all of them.

Although Halloween just passed, if you work fast you can start promoting in time for the last two (extremely profitable) parties....

Thanksgiving Eve
For those of us in the United States, this is a huge party night right before a big holiday weekend.
When you're in college, this could be the biggest party of the year since everyone is back home from school for the holiday's and they want to see everyone from home, so people feel compelled to go out.

If you're a college student or around that age, you MUST be involved with promoting these parties and start pushing YOUR Thanksgiving Eve party NOW...it's never too early to get a jump on this.

Just like with Halloween, these parties are normally pre-sold tickets so this is a great opportunity for new promoters or people that don't want the responsibility of throwing their own big party to get involved and earn some cash.

New Years Eve
Obviously the most popular and biggest party of the year. If you're even thinking of becoming a promoter, you should be involved with a New Years Eve party...even if you're just promoting in your part-time.

You don't have to throw your own party and if you're new, then I would suggest NOT trying your own New Years Eve party until you've become much more experienced. (I personally didn't throw my own New Years Party until I was promoting for 5 years)

I suggest getting involved with a big time new years party and help sell their tickets to this event...and here's why:

1) The person throwing the party has taken on the main financial responsibilities involved (renting the place, guaranteeing the bar a certain dollar amount, paying the big name DJ, etc.)

2) You and your business can be associated with BIG names without paying the big bucks needed for these names. (Like when Diddy is "hosting" a New Years bash)

3) Makes your sale much easier and it's all profit for you.
I could write forever on these 3 parties because they are so big, and so important to making a great living as a promoter, but I have to get back to work on MY 2008 Halloween Party!


So, if you've been reading my blog and you are:

• thinking of getting into promoting...
• you just want to try it part-time...
• or you're already promoting but want to take your promoting to a whole other level...

Then you have to get started right away because these next few months are THE BEST months of the entire year to do this!!!

The "How Old" Question...Answered

First, just wanted to start by apologizing for not posting more blogs in the past 2 months...i needed some time off to after a wild summer. I'm back to work on my promoting "busy season" and promise to update this blog every week from here on out.

Over the past few weeks, more and more people have been emailing me about getting started to be a promoter. With Halloween, Thanksgiving Eve and New Years Eve all within 3 months of each other, i guess people realize how much money there is to be made and people are eager to get started.

One of the most common questions that's been popping up in my email box is: "How old do I have to be to start promoting"

Some people are worried they are too young to start promoting....Others are worried they are too old to start promoting.

The answer is: There is no *right* age.

Being a party promoter is about pulling together groups of people, and bringing them to one place that pays you to fill their venue. You can be any age to do this...you just have to find what people your age want to do, set it up for them, and promote the party.

--You can be 18 and promote teen clubs or Prom After-Parties.

--You can be 30 and promote to single professional adults that want to meet other people in their situation but are too busy with work to go to happy hours every week.
...The possibilities are endless!


A common mistake that people interested in this business make is that they automatically think they are too young or too old for this business.

Or they think promoting is for hip-hop and techno crowds only.

Or just for wild college kids

...These are all totally false.

The fact is, anyone, any age, with any background, in any demographic, with ANY level of education can be a promoter... and make over six figures every year doing it.

It's just a matter of sitting down and thinking:
"what do my friends like to do?" or "what kind of party can I throw that would interest MY crowd"?

A fantastic example of this was sent to me by a female Party Promoter Guide reader that is "over 35, lives in the Bay Area, and is currently working at a big accounting firm". She recently started throwing her own parties for divorced people.
She said it was an untapped market and wanted parties to go to herself (a divorced mother) so she stepped up and threw them for her crowd.

Per her latest email to me, she's making an extra $1,500 a month on the side of her accounting job just for throwing 2 parties each month.

And, on the other side of the coin...

If you're under 21, stop telling yourself that you can't make money in this business since you are "under-age".

Many promoters started out throwing parties in high school and made a killing doing it!
Personally, I started in college, but I've worked with many guys and girls that made a ton in high school throwing those"18 to get in, 21 to drink" parties. They make all their money off the door fees. When you're 18 there aren't a ton of options for you, so these parties were always BIG TIME successes.

My advice to you this week...
**************************************************
Anyone, any age, can be a promoter so it's NEVER too early, or too late, to get started in nightclub or party promoting...so get started right away because the sooner you start promoting, the faster you start building your list, making connections, and making some CASH!

**************************************************

Make More Money Promoting

I want to let you in on a secret about promoting that you'll
only find out once you get big in this business....

Once you get big, once you become a "big-time promoter"--
(and this will happen when you promote more and more parties
and become a big name in YOUR nightlife scene), you're going
to get busier and busier.

Wait, before you get too nervous--when i say busy, i mean,
you'll be attending more parties, restaurant openings, sponsored
events, etc, etc.

....All cool stuff.


But if you're going to be out hitting up celebrity events or
hosting grand openings, you're going to be away from your day
to day business.

Trust me, this happened to me. I never realized this would
happen but i kept on getting invitations to amazing events
that i just couldn't pass up. The more events i attended,
the more invitations i got to other events. Soon i realized
i was a guest at more parties then i was THROWING!!!

And unless you're looking to make less money each week, (and
I seriously doubt that you are) you have two choices...

A) Work Harder

or

B) Work smarter

My Choice? Of course, B: I rather work less hours that
are more productive.


Sure you could always put in more hours during the days,
nights, or weekends to make up for the time that you are
away from your business when you are out attending these
other events.

And You could also skip these cool events altogether, but
i honestly wouldn't. They are a lot of fun and they are a
big perk of the job.

Not too many jobs allow you to go to red-carpet events
with models, celeb's, an open bar and free food--so i say
enjoy it!


Personally, i just rather work smarter...use the time
i do have to be much more productive.

There are a million ways to be more productive with your
time and I'll save most of those for the time management
experts...

But there is one time saving method I did want to discuss
because I'm a BIG fan of it and i use it when doing business
EVERY SINGLE DAY!

The method I'm talking about is the 80/20 rule of business,
and i strongly recommend you apply it to your daily promoting.

If you are unfamiliar with this method, here's how Wikipedia
defines the 80/20 rule: "The assumption is that most of the
results in any situation are determined by a small number
of causes".

************************************************

Basically this means that 80% of your business

is going to come from 20% of your clients.

************************************************

So, if you know that the majority of your money (80%) is
only coming from your bigger clients (these 20%) then
why not spend your valuable time focusing on these clients?

Here's the big question...and I'm answering it before you even
ask it....

How do you know who falls into this 20%?

Here are some questions to ask yourself to help figure out
which clients fall into this 20%:
**Who comes to your parties on a consistent basis?
**Who brings lots of friends to your parties?
**Who stays at your parties the longest?
**Who celebrates all their big occasions at your venues?
(birthday's, graduations, promotions, engagements, etc, etc)

Once you identify who your key clients are...the 20% that
are going to bring in 80% of your money...then you can
focus your time with these clients and spend less time on
the other 80% that will bring in much less money (By no means
should you IGNORE that other group---they still are paying
customers that can put a lot of cash into your pocket!)



Here are 3 examples of ways that i use this 80/20 Rule to keep the money coming in every single week...

1) When i make my weekly phone calls to personally invite
people to come to my party, i will call the key 20% group.

I only have so much time to make calls so I rather spend
that time on the most important clients. I don't use it
to call my best friends, a guy that might come with one
other person, or even that cute girl that I'm hoping comes
back. (Well, maybe I'll call her if i have some extra
time).

Instead, i use this time to make sure the guys that buy
bottles of Grey Goose are coming. Those are my big hitters
and i want to make sure i have them in my lineup for the
night.


2) Handing out drink tickets or comps:
I only have a limited amount of these tickets to pass out
to clients so i make sure that they go to people that are
on my list of better clients.


3) My VIP Room:
In all my venues i like to have a VIP room or VIP area
for my better clients to feel, well, VIP.

I go into a lot more detail about this in my book, The Party Promoter Guide, but having a VIP area is a great way to make clients
feel like you appreciate their business, WITHOUT you
spending any money out of your pocket.

So, I fill this area with good looking people and all
of the people on my top 20% list.


There are many, many other ways to apply this method to
the promoting business (or any business for that matter)
so start thinking who's on your "Top 20% list" and focus
on them to maximize your time and profits!!!

June's Promoter Success Stories

I don't know about you, but nothing gets me more motivated to go out and earn some cash then reading about other people that are out there doing it.

I'm the kinda guy that likes to read success stories of other wealthy and powerful people. I don't mean just in the promoting world, but in all different types of businesses.

I like to read how people got rich with an idea or how they built their fortunes with a business...it makes me realize i can do it too if i stay focused and motivated.

So to keep everyone motivated (including myself), I'm going to continue to send out emails and post blogs of success stories from promoters that have gotten the Party Promoter Guide and have made money or thrown insane parties that are worth sharing with everyone...

Hopefully, these emails will either:

A) Stop you from procrastinating and start you promoting.
or
B) Motivate you to take your promoting business to the NEXT LEVEL!

Last month, I asked anyone that bought the guide to send in their success stories, and i got an overwhelming amount of responses.

I guess the Book is working!

But remember, The Party Promoter Guide will only help you IF:

...you actually read the book and take in the information. (there is a ton of good stuff in there and if you don't actually read it, you'll never learn from it.)

and

...you're willing to try some of the techniques that I teach in the book. (70% of the people that get the book will do nothing. Separate yourself from everyone else and take the steps to make the money that you desire.)

I got so many "Success Story" emails this month, that I decided to share 2 different Success Stories...
===========================================
June 2007 Success Story #1... DeMarcus V.
============================================
Just wanted to say:
Since buying the guide, I have been throwing parties every Wednesday night (College Night).
My first two parties was free to everyone, then I started charging $10 at the door. Made $800 the first night ($400 after paying everyone) and the $1200 the second week ($800 after paying everyone).
DeMarcus V.

...DeMarcus didn't mention what city or town he's from, but clearly he's doing this in a college town and promoting to the college kids, which is helping him to rake in the cash!
Awesome job!


============================================
June 2007 Success Story #2... Johnny P. New Brunswick, NJ
============================================
Mr. Gold,
Thank you for your emails and thank you for writing your book!
I have always loved to go out at night and party late...so i wanted to throw my own parties to make money.
I never learned "the right way"...i tried a couple and lost money and the turn out wasn't successful...
I came across your site and read some of your emails...After reading some online...i didn't think twice of ordering it...
I just really wanted to learn it the right way and be mentored so i can make some real money in my promoting business.
My first few parties, i was spending too much money on passes and paying people to do things that weren't needed...
After reading your book, I tried your "tricks to promote without spending your own money" and this helped me throw a party without spending too much money...and I finally MADE some money...and the turn out was great. We had a line down the block!
I started a weekly Friday party that has been making money...every week! I'm going to start a Saturday party in July and then a Thursday party...
In the fall I'm going to have a Monday Night Football party...
Thanks guru,
Johnny P.

...Johnny didn't go into detail of how much money he was making each party, but if he was making a few hundred a week and was adding more parties, he is on the verge of breaking out! If you are able to fill a venue and get lines down the block it's only a matter of time until you are making BIG BUCKS!

I hope these couple of emails did the job and inspired you or motivated you to make some moves...these are normal people just like you and me, who got the guide, and took the steps to make some cash!

How to Grow Your Party and Promoting Business

Hope you had a relaxing, fun or profitable 4th of July (that's if you are located in the US--If you're not in the US, i hope you had a great Wednesday).

Lately, I've been writing a lot about "how to get people to your party" & "the Do's and Dont's of promotions", etc, etc.

But at this point, many of the people that have been reading the blog, my weekly emails and reading the Party Promoter Guide are ready to take their party to the next level.


They are throwing a weekly party or two and are making good money but they want to bring their party to a whole new level so they can start raking in the SIX FIGURE cash!

...I've been getting tons of emails asking me about this so I know many people are ready to find out how they can GROW THEIR PARTY and their income.

I've been doing this a long, long time and from my experience the best way to grow your party to another level is by focusing on people.

People?

Yes, people.

But in this case, I DON'T mean clients or party-goers.

If you're looking to grow your party, you're going to need more people to know about you and all of the hot parties you are throwing.

You want to get your name out there fast and to as many people as you can!

There are a number of ways to get your name out there so that every party-goer in town knows you who you are and what kind of party you throw---but most of them cost money (IE: radio commercials)

In my experience, they best way to really grow your party, without spending your money, is to focus on people.

...and by this I mean 3 things:
1) Get a Partner
2) Team up with other promoters
3) Get people to work for you

You could do all 3 of these options, or just one of these options, but these are they keys I've found to growing your party to another level.

I could talk about each of these topics for pages and pages, but to spare you the details, I'll just briefly touch on each of these...

1) Get a Partner:
Running a business can be a little work, and although running your own promoting business isn't much work, having a partner will make it that much easier.
But making the job easier isn't the best benefit of having a partner--the best thing about having a partner is that your partner will have access to 100's of people that you do not know.
(As i talk about in my guide, don't pick a partner with the same EXACT social circle--you want to expand your client reach)

So if you're looking to start promoting to a new type of crowd or to expand your reach of clients into another town or college, think of adding a partner for a quick and easy way to grow your party!

2) Team up with other promoters:
i know this sounds like a "partner" but it's not. I'm talking about working with another promoter on a few different events here or there, but NOT making them a partner in your business that splits all your profits and has access to all your clients and contacts.
Teaming up with another successful promoter is good if you want to promote a venue that is too big for your current party, but you feel promoting this venue will help out your name and reputation.
If you were to team up with another big-time promoter and together you can throw 1 HUGE party, both your reputations will expand to anew client base.

3) Get People to Work for YOU:
This is my favorite thing about promoting...Promoting is a job that actually has amazing fringe benefits and people are willing to help you out for free.
People will trade their time and services in exchange for free entry, VIP treatment, or a couple of free drinks.

Many young people love the social benefits involved with this job and will work for free just to be around it...which is great for us!

If for some reason you can't find people to work for free, then you can hire young and hungry promoters to pull people to your party for very cheap.

This is a common way people start out in the business...and it's EXACTLY how *I* started out in the business back in college. Someone paid me a flat fee to bust my butt and pull as many people as i could to their party.

I made very little money (I only realized this looking back since i know how much the main promoter was pulling in--at the time i thought it was pretty good money) and so did they other newbies like me, but we all learned a lot about how to be a promoter and how to run this business...and in exchange, the guy we worked for had his venue packed to the brim and made out with a ton of cash!

...In the end it was a good deal for both of us.

At the time i remember thinking it was unfair, but i had to earn my stripes just like many other promoters before me and i got to learn the business on the go and made some money doing it.
Well, you can do the same. Find some local college kids or hungry new promoters that want to crack into the business and offer to give them X amt for the night to pull all their friends and family to the party.

You do that with a bunch of kids, you're going to have a packed party without doing much work or spending too much money.

You could even offer them a list and give them a couple of dollars per person that comes on their list--this will motivate them to work harder!

As i mentioned earlier, you could use all of these ways together (get a partner, join forces with other promoters for a party or two and hire sub-promoters to help fill your venue) or you could use each one individually.

Either way, it's important to continue to grow your business and grow your list so that you can pull in the dollars you want and grow you overall bottom line.

Remember:
The bigger your parties get--the bigger your paychecks will get!

Why Promoters Make So Much Money

I wanted to discuss something that I think is very important but some promoters just aren't grasping...I want to make sure everyone understands this completely, that's why I'm taking the time to post this topic...

Some people new to this business seem a little skeptical as to how they can make a lot of money promoting. They just don't seem to understand how much money is involved in the club, bar and party business.

It's a multi-billion dollar business yet people seem to not fully understand how a promoter can make so much money.

I keep getting asked "how can promoters get paid so much"or "how can the clubs afford to pay them so well"
...and here's the one-word answer to "how can they afford to pay them so well?"...

Alcohol

Clubs, bars, pubs or any place that sells alcohol work on a tremendous markup--one of the biggest in any business.

If you don't believe me, just think of that bottle of beer you bought in the club--the one you paid $7 for...just for ONE BOTTLE!

But, if you went to your local grocery store, you could buy an entire six pack of that same beer for about the same price...AND the grocery store is making money on you.
The same goes for wine, mixed drinks, and shots!

If you really think about it, everything at a bar or club is marked way up. The soda's from the fountain are $3 and that bottle of water you want just to cool down...another $5.

Also, remember, they are getting a good deal on it because the venues are buying the beer, wine, and liquor in BULK!

....think about these profits!

Individual drinks are just one revenue stream alcohol brings to the club...another is bottle service.

Typically, these bottles are served at the tables when you "buy a table" and most of the time, to get these tables, there is a 2bottle minimum.

The bottles that are sold are often marked up almost 900%! A $40 bottle of Grey Goose sold at the liquor store is sold to a table of people eager to have a great seat for over $350. That's more then a $300 profit *per* bottle!

One of the clubs I used to promote in New York City, brought in very high end clients, and the bar tabs were often way over $2,000 per night for each table.
Multiply this out and think how much money the bar is raking in. And again, the profit margin is very high on liquor so most of that is going into the pockets of the owners!!

....So how does this effect promoters?

Well, owners will do anything, or should i say PAY ANYTHING, to get people into their venue.

They want it packed to the brim with people who are willing to fork over money for their pricey drinks. (With these mark-ups, can you blame them?)

Now, if you are able to pull in a high-end clientele, the kind of people that buy bottles of liquor, clubs will really love you.They'll pay even more to those promoters that can bring in the "high-end" clientele that are willing to pay for the bottle service.

Lets look at this quick from a numbers point of view...

- imagine if every person that came into your bar spent $50.

- you knew that you profited $30 from that $50 spent.

- you pay promoters $10 for each person they could bring in....

...you profit $20 for each person a promoter brings to your venue.

Would you give a person $10 if you knew it meant you'd make $20 in PROFIT? Of course you would--and the owners do!

I hope that you can see how easy it is for promoters to get paid for every person they bring to the venue. Owners want to pay you this money because it means they have a lot of people in their venue and THEY are making money.

So the more people you bring, the more money the owners make and the more money they are going to pay the promoters! It's pretty simple.

As long as alcohol is around (I don't think it's going away anytime soon--they tried that once and it didn't work out too well) there will be bars & clubs looking to fill their venue with thirsty clients willing to pay for their costly drinks...

...and that means there will ALWAYS be a need for promoters to fill these venues!!