{"id":7089,"date":"2009-09-28T09:52:16","date_gmt":"2009-09-28T17:52:16","guid":{"rendered":"http:\/\/drewbrophy.com\/?p=3895"},"modified":"2009-09-28T09:52:16","modified_gmt":"2009-09-28T17:52:16","slug":"money-talks-bullhockey-walks-weeding-out-the-not-so-serious","status":"publish","type":"post","link":"https:\/\/drewbrophy.com\/money-talks-bullhockey-walks-weeding-out-the-not-so-serious\/","title":{"rendered":"Money Talks, BullHockey Walks (Weeding out the Not-so-Serious)"},"content":{"rendered":"
\"Drew<\/a>

Drew and Maria in Studio<\/p><\/div>\n

The following is an excerpt from a chapter in my forthcoming book titled\u00a0The Brophy Principles – A Brutally Honest Business Guide for Creative Types<\/span><\/span>:<\/span><\/em><\/p>\n

We get crazy proposals almost daily<\/strong>, \u00a0from people who want \u00a0to use Drew\u2019s art and fame to help sell their products.\u00a0 And that\u2019s our job \u2013 to make things look cool.<\/a><\/span><\/p>\n

I know that many a good deal can be a diamond in the rough, so I make it a point to entertain every idea, even the ones that sound downright stupid.<\/p>\n

The problem, however, is that some of these proposals come from people who don\u2019t have capital ($$). \u00a0They want to hang out, talk to Drew for hours about their new venture, and pick his brain for ideas. \u00a0Then they disappear.\u00a0 Drew <\/a>would rather be painting.<\/p>\n

BUT – THERE ARE WAYS TO WEED OUT THE SERIOUS FROM THE BULL-HOCKERS.<\/p>\n

Harsh Lesson Learned \u2013 the unpaid Bill<\/span><\/strong>:\u00a0 In our younger years, Drew took a commissioned job from Abercrombie and Fitch.\u00a0 He worked on this project with the art director for a week.\u00a0 Then they changed their campaign mid-stream and disappeared.\u00a0 And they didn\u2019t pay Drew\u2019s bill.\u00a0 Harsh lesson learned, and we never made that mistake again.\u00a0 We always get a deposit now.<\/p>\n

MONEY TALKS, Bullsh*t Walks <\/span><\/strong> When you require a deposit up front, you weed out the serious client from the not-so-serious.\u00a0 The serious client will pay, and the not-so-serious client will walk away<\/span>.\u00a0 And be glad that they did.<\/p>\n

Don\u2019t worry about losing a client over requiring a deposit.\u00a0 If they really want it, they\u2019ll pay it.\u00a0 If they aren\u2019t willing to pay it, then they don\u2019t have a commitment to the project.\u00a0 And if there\u2019s no commitment, then why should you waste your time?<\/p>\n

Beware of the One who Blows Smoke up Your Keester<\/strong><\/span>: One Newport Beach business owner met with Drew and me to discuss licensing.\u00a0 He was movie-star good looking and pulled up in a convertible Mercedes.\u00a0 He blabbed for 90 minutes about how successful his company was, and how he wanted to use Drew\u2019s art for his sunglass cleaners and how they would be retailed in over 2,000 stores.\u00a0 He was investing $50,000 into the marketing of this venture, and he\u2019s already put about a half a million dollars into the development of it.<\/p>\n

I followed up with a deal memo outlining the license.\u00a0 It\u2019s standard to require an advance up front equal to 25% of the first two years projected royalties.\u00a0 I only asked for $5,000 up front.\u00a0 Oops, he didn\u2019t have the money. \u00a0Would we do it without an advance, he asked.\u00a0 \u00a0Mr. Newport Beach guy, where did that $50,000 in marketing go overnight?<\/p>\n

After one too many time-wasters, we\u2019ve developed our own Principals to hedge against wasting our time and money on people who aren\u2019t serious about business:<\/span><\/strong><\/p>\n