A friend of mine, and to protect the innocent, let’s call that friend . . . uh . . . me . . . was recently offered a chance to invest $50k into a Broadway musical. A high unit price, but fairly typical for a higher priced musical.
While I wasn’t sure it was for me, I happened to have an investor that I thought might want the piece. And I have no problem putting my people into other people’s shows. What goes around comes around, and if my investors are happy that’s all that counts.
I asked some budgetary questions, as I do, and did the due diligence that I talk about in this seminar.
And just when I was about to recommend the investment to my guy, I was told that for the $50k, this investor would not be allowed to go to opening night.
Uhhh, come again? You did say you wanted $50k, right? Not $5k?
I know theaters have fixed capacities, and I know there are a lot of people that put on big musicals that deserve to be there to celebrate the big Broadway debut. But isn’t someone putting up fifty grand in a very risky proposition due the right to a couple of seats in a big theater?
I’ve planned opening night parties as a Producer. I’ve been a GM and a CM on opening night parties. And I know who gets to go to these things. Everyone and their brother and their assistant who has ever even thought about working on the show. (And the Company Manager usually always has a few emergencies in their pocket at the end as well!)
And all of them should go.
But the moment we start telling $50k investors that they can’t go?
That’s the moment we start losing investment dollars to other industries.
The perks are one of the few things that separate us from other investment opportunities. When you buy 100 shares of Coca-Cola, they don’t give you a 6 pack of Coke, right?
But we can give you billing, insider access, and you betcha, opening night tickets.
Needless to say, my friend . . . and by my friend I mean moi . . . passed on this opportunity.
Why? Because Broadway Investors are the reason why we get to do what we do. They/we/you deserve to be celebrated for what they do, and therefore they deserve the respect of being invited to our celebrations.
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