In Episode #134, Nathan speaks with Gil Welsford, a passionate innovator and entrepreneur by heart. Listen as Gil talks about capital expenses, living in high-growth mode, and working with one of the most popular musical acts on the planet—Muse.
- Favorite Book?— Think and Grow Rich
- What CEO do you follow?— Steve Jobs
- What is your favorite online tool?— Google Docs
- Do you get 8 hours of sleep?— Yes
- If you could let your 20 year old self know one thing, what would it be?— Slow down and enjoy college…you’re going to be able to do “it” (whatever that “it” may be) eventually
Time Stamped Show Notes:
01:00 – Nathan’s introduction to today’s show
01:28 – Sparks Entertainment
01:53 – A creative lighting company for events, tours, etc.
03:50 – Fees range from $2k to $150K
04:05 — $100K worth of business in September ‘15
04:35 – Spark also does Audio/Visual engineering, and staging
04:54 – Spark does a LOT of corporate events
05:30 – The client acquisition process
06:22 – Costs involved in the business—very capital intensive
06:39 – Profit margins for 1-off events are roughly 70 to 80% but that does not account for capital expenses
07:28 – Spark is still in high-growth mode
07:55 – Rent equipment out at 10% of the purchase price—so items are paid off depending upon how quickly they are rented
08:35 – Growth—what it looks like
10:14 — @GilWelsford
11:23 — Famous Five
3 Key Points:
- Create authentic relationships.
- Rent capital equipment at 10% of the purchase price.
- Don’t shy away from businesses with large, up-front capital expenses—they payoff is there if you’re patient.
- Growth Geeks – The way Nathan hires growth hackers on a per project basis for things like info graphics, blog posts, and other growth projects
- Think and Grow Rich – Gil’s favorite business book
- Show Notes provided by Mallard Creatives
Gil Welsford is a passionate innovator by heart and loves entrepreneurship. He cofounded a production company at the age of 21, and four years later has offices in New York City, Philadelphia, and Washington, DC. He is a mentor to young emerging entrepreneurs that he meets through an organization he founded and is now on the alumni board for Society of Entrepreneurs. He loves ice cream, food, and ice cream.