How's Business? - Ask JP #033 - The Moery Company

The question that I get most often these days is, “How’s business?”

Let me share with you what I can. One is, it’s great because we are still here. Secondly, it’s great because we have kept everyone on our team working during this entire pandemic era. Three, it’s great because I think we have executed better than ever before. I think folks are thankful that they’ve got work to do and they’ve been executing at a very high level. I’m also am very thankful for the fact that we have been a virtual office – in many ways – since the beginning of the company so we did not have to adapt to a new kind of disruption.

Now, let’s talk a little bit more about how the business going.

First, our total revenue is up 5% and our profits are up as well. So, in that way, we’re in a very stable place. Here’s the fact of the matter: we have less inventory to sell for our association clients. In many cases, there are no meetings or meetings are reduced in size. This means less sponsorship inventory for us to sell. Some organizations have been slow to embrace virtual events, so we can’t sell that inventory because it does not exist. However, sponsorships are selling well when the associations implement them.

Overall, businesses good.

Another thing is that membership sales are actually positive right now because our association clients did an amazing job demonstrating the value of membership during the pandemic. They were getting PPP money and they were recommending how their members could navigate the process themselves. This was one of the many valuable membership perks during this time.

Frankly, it’s a knife fight. It’s a knife fight every day. We’re not out of the woods. We’ve got to continue to battle. However, I’m very positive about where the business is going and I really appreciate that you’re interested in our well-being. I hope this is helpful for you. Thanks.

 

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