The Fair featured in iconic music business publication IQ Magazine this month, with readers learning how best to guide their way through the festival industry.
CEO Nick Morgan shared valuable insight about his ten biggest lessons in a decade of large-scale of festival and event production through The Fair.
You can read an excerpt of the article below, or check it out in full on the IQ Magazine website.
The last decade has seen the industry grow in ways we never quite imagined, conquering challenges we never expected to face.
This year, The Fair celebrates a decade of producing large-scale festivals and events for millions of people across the UK and further afield. What started as a four-person team in East London has turned into one of the largest independent event production houses in the UK.
I’m proud of what we have achieved, which is largely down to the experience we as a team have collected over the years. Here are key lessons I have learnt in my 25 years in the industry, and in the first ten years of The Fair.
1 Get guidance from the get-go
Having a well-established industry mentor is essential, and a non-executive director can help support your business in its infancy stages. If you don’t have connections, it’s time to start making them. Find your inspirations, reach out to them, and don’t be afraid to politely chase.
2 Put new business at the forefront of priorities
Good business is dependent on new business. Build in a new-business strategy from the beginning and get in front of potential clients as a priority. In an increasingly diluted events market, you must be actively outbound and rigorous in your new business-finding processes.
3 Never be afraid to challenge clients
When it comes to events, concepts can quickly spin out of control, and handling creative budgets can be challenging. If you feel anything in the event plan is unachievable or unfair, it is okay to say so. Tread carefully with this, however: we are dealing with people’s passion projects. Voice any concerns in plenty of time and with justification.
4 Choose which business you take wisely
Taking on a project that is wrong for your company could have irreversible implications for your business and its reputation. When enquiries do come through, ask the necessary questions to ensure they are authentic and stress test plans while ensuring they are financially underwritten. Do your due diligence to assess how successful the collaboration could be.
