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Topic: Why do the best in our business stick to just one thing. (rhetorical)
Message: Posted by: Senor Fabuloso (Mar 3, 2019 04:47PM)
Because it works. Have you ever heard the phrase "Jack of all trades master on none"? This is common sense approach to life that every successful person knows. Tremendous amounts of literature (sources available on request) has been written on the why and how SPECIALIZATION is the key to successful business. Now there are those who will try to tell you that having your hand in as many pots as possible, just makes sense but would concentrating on one thing and doing it perfectly or as perfectly as possible be what you would want in somebody, you needed for something? Or would you rather go to the doctor who also is uber driver or toy manufacturer? Think about it. No specialization is the key and in performance art especially magic it's so true.

Here are some people who's act never changed to my knowledge and is why they are and were, so sought after

https://www.youtube.com/watch?v=SABOxRvYojY

https://www.youtube.com/watch?v=R4RdUdfscaA

https://www.youtube.com/watch?v=FezUzXsle80

https://www.youtube.com/watch?v=u6P1QRqFeww

There are many more. I just posted these as illustrations of fact as opposed to the opinions often offered by so called experts.
Message: Posted by: Dannydoyle (Mar 3, 2019 07:33PM)
Yes nobody who has ever diversified has been successful.
Message: Posted by: Ken Northridge (Mar 4, 2019 05:49AM)
I agree Senor. However, I would say in the beginning of one's career they should try a wide range of services and talents. You'll never know what you enjoy unless you try.

I kinda chuckle at some in our industry who seem to focus on being all things to all people. IMHO they project an image of desperation, not able to let any possible opportunity go. But if done correctly they are specializing as well. They are specialists in finding someone who specializes in what their customer is asking for and then booking them for the gig! That takes a special talent and temperament as well. One in which I do not have.

[quote]On Mar 3, 2019, Dannydoyle wrote:
Yes nobody who has ever diversified has been successful. [/quote]

I would love to hear some examples. Iím not being argumentative, Iím truly curious.
Message: Posted by: Dannydoyle (Mar 4, 2019 09:58AM)
I can give you an obvious example like Shark Tank where the Sharks invest in literally dozens of different businesses, and even within most of those are diversified.

Wal-Mart sells a whole lot of different things. Didn't Amazon start as books? Uber now delivers food, Apple sells watches. How many examples of TREMENDOUS success from diversification do I have to post?

OR we could just use the idea that if you have ONE thing you can manage to get good at, and suddenly for whatever reason you can't do that any more, now what?

(My first post was sarcastic by the way.)
Message: Posted by: Dannydoyle (Mar 4, 2019 11:53AM)
So by all means do not diversify. In reality if you keep doing what you have always done you always get what you already got.

I am not saying be all things to all people. But certainly offering more within one's own field can not be overlooked. I do not do it much myself, but this in no way means it has no merit.

So if the OP can provide us with personal anecdotes of how this has created success for him it might help. Otherwise it is little more than internet posing.
Message: Posted by: TomBoleware (Mar 4, 2019 12:29PM)
I know someone that is very successful at doing a little of it all. He is a world class trade show magician as well as being a top rated kidshow magician.
He also writes books, produces magic dvdís and sells a wide range of magic products. Busy people get things done.

Tom
Message: Posted by: Ken Northridge (Mar 4, 2019 01:41PM)
Obviously there is no 'one size fits all' path to success. And success can be defined in many ways.
Message: Posted by: Dannydoyle (Mar 4, 2019 02:42PM)
[quote]On Mar 4, 2019, Ken Northridge wrote:
Obviously there is no 'one size fits all' path to success. And success can be defined in many ways. [/quote]

Exactly my point.
Message: Posted by: WitchDocChris (Mar 4, 2019 04:19PM)
The original phrase was, ďA jack of all trades is a master of none, but oftentimes better than a master of one.Ē
Message: Posted by: Ken Northridge (Mar 4, 2019 05:15PM)
[quote]On Mar 4, 2019, Dannydoyle wrote:
[quote]On Mar 4, 2019, Ken Northridge wrote:
Obviously there is no 'one size fits all' path to success. And success can be defined in many ways. [/quote]

Exactly my point. [/quote]

I should be used to you sarcasm by now and should have seen your point. LOL

[quote]On Mar 4, 2019, WitchDocChris wrote:
The original phrase was, ďA jack of all trades is a master of none, but oftentimes better than a master of one.Ē [/quote]

Is that true? Is that the original phrase? Because it does change the meaning quite a bit.
Message: Posted by: Senor Fabuloso (Mar 4, 2019 05:22PM)
[quote]On Mar 4, 2019, Ken Northridge wrote:

[quote]On Mar 4, 2019, WitchDocChris wrote:
The original phrase was, ďA jack of all trades is a master of none, but oftentimes better than a master of one.Ē [/quote]

Is that true? Is that the original phrase? Because it does change the meaning quite a bit. [/quote]

It dosn't matter as that wan't the point of my post.
Message: Posted by: Ray Pierce (Mar 4, 2019 05:52PM)
First, thank you for those videos to remind of us of some amazing magicians of the past. Now... we live in different times. When I was starting, the masters mostly made their living doing a 7 - 10 minute spot. Shimada, Marvyn Roy, The Great Thompsoni, Goldfinger & Dove, etc. toured all over the world with their 7 minutes. I was privileged to know them and work with them many times. At one point we were between dates on one of my tours and one of the younger acts asked Marvyn Roy, "How long does it take to get material really solid?" He was probably expecting a certain number of weeks or months. After some thought, Marvyn replied, "About ten years". In retrospect I agree totally. The material I've been doing over 10 years is solid and bullet proof.

Sadly we live in a very expendable society. Television burns material. Effects are seldom given the time to become truly great. The common call is, "What else do you have?".

I'm certainly considered "diversified" in what I do due to the market and demands of the many opportunities I work in yet I still love my "standards" that I've been able to work and refine over the decades. They will always be my go-to choices.
Message: Posted by: Senor Fabuloso (Mar 4, 2019 06:23PM)
Ray, I'm aware of your work and feel that anything I might say would not measure up, to how I feel about it. So while I disagree with anybody advocating non specialization, I'm not sure that your in that category and don't want to argue with you, as I respect you to much. Mr. Pierce is correct about diversification :)
Message: Posted by: Dannydoyle (Mar 4, 2019 06:29PM)
Look up Johnny Thompson. Diversified? I'd have to say he is
Message: Posted by: WitchDocChris (Mar 5, 2019 07:29AM)
[quote]On Mar 4, 2019, Ken Northridge wrote:
Is that true? Is that the original phrase? Because it does change the meaning quite a bit. [/quote]

As far as I can tell, yes. And yes, it does change the meaning quite a bit. There's many old phrases like that which are used today in the opposite context as they are meant originally.

These days having a single source of income is a recipe for disaster. If that source dries up, you're out of luck.
Message: Posted by: Senor Fabuloso (Mar 5, 2019 07:48AM)
[quote]On Mar 5, 2019, WitchDocChris wrote:

These days having a single source of income is a recipe for disaster. If that source dries up, you're out of luck. [/quote]

Tell that to anybody with a job. I'm sure they will disagree. Unless they work paycheck to paycheck which means they're living above there means, most do well. Saving money to put kids through college, buying homes and cars and everything else that makes them successful. Since however we're talking about the entertainment industry, success usually means money and fame. Being sought after as the best in your line of entertainment is what will make you an A Lister and have you command the 20,000 a show the top people make.

I see diversification as extensions of what one is already doing. So a headliner in Vegas may do television but I can't see them giving lessons to kids except, in a charity vain. A performer might have some back of the room sales but I can't see them opening up a shop. I think you get my drift?
Message: Posted by: TomBoleware (Mar 5, 2019 08:38AM)
Those with a Ďjobí only get paid when they work. When you lose your job you are out of work until you find another Ďjob.í
Being self employed with you being the only employee is the same as having a job.

Adding more work to your existing job is only creating a bigger 'job' The ideal situation is to have money coming in even when you canít work.

Tom
Message: Posted by: Senor Fabuloso (Mar 5, 2019 08:45AM)
[quote]On Mar 5, 2019, TomBoleware wrote:
The ideal situation is to have money coming in even when you canít work.
Tom [/quote]

I couldn't agree more but I'm not sure how that translates, in entertainment? I mean you can rent houses, for a positive cash flow every month but what does that have to do with the entertainment industry?
Message: Posted by: WitchDocChris (Mar 5, 2019 09:01AM)
Passive Income. Works when you don't insist on taking all payments in cash.

Selling books - passive income.

TV Royalties - passive income.

YouTube - passive income.

Patreon - passive (ish) income.

Also called "mailbox money" - you do the work once, and it keeps paying you. That's just a few examples.

A lot of entertainers have completely unrelated businesses ventures that give them steady income on top of their entertainment income. First thing comes to mind is Dan Sperry's coffee company. Hugh Jackman also has a coffee company. Ryan Reynolds has a gin company. All those guys you see releasing products into the magic community? Side income.

The number I tend to see thrown around is 5 separate streams of income, which gives both financial security (if one fails, you have the other 4 to maintain you while you find another one) and gives the ability to focus on different things if one income stream starts to burn you out or if you lose interest.
Message: Posted by: TomBoleware (Mar 5, 2019 09:08AM)
I agree most magicians just want to entertain and nothing more.

WitchDocChris, said it well. See his post.

Tom
Message: Posted by: Senor Fabuloso (Mar 5, 2019 02:22PM)
I'll let the FACTS speak for themselves https://www.forbes.com/sites/larryalton/......2b7d4a29 Anybody can spew fake news, when they have nothing to back it up but what they say ;)
Message: Posted by: Senor Fabuloso (Mar 5, 2019 03:12PM)
The Forbes link https://www.forbes.com/sites/larryalton/2016/12/20/5-reasons-modern-businesses-are-turning-to-specialization/#73a040b34a29

and another for good measure https://nugrowth.com/business-development-why-specialization-leads-to-success/

Always a good idea to have sources to back up what you say. At least that's how I roll :)
Message: Posted by: TomBoleware (Mar 5, 2019 03:27PM)
Facts are easy to find.

5 Reasons Why Passive Income Is Important:
https://www.wanderlustworker.com/5-reasons-why-passive-income-is-important/

Active vs. Passive Income-Why You Need Both:
https://kellyroachcoaching.com/active-vs-passive-income/

Tom
Message: Posted by: Senor Fabuloso (Mar 5, 2019 03:29PM)
Thanks for those Tom :) I'll check them out.
Message: Posted by: Senor Fabuloso (Mar 5, 2019 03:37PM)
OK the first link, to Wanderlust Worker is a company I've never heard of and obviously has an agenda, trying to sell their courses. They are NOT news or factual.

The second has the same problem. As a coaching site, it's goal is to sell their service to you. Again not news or at all factual.

Sources like research papers, News articles, documentaries with the purpose of providing information WITHOUT a revenue motive (other than advertising) really are the most credible.
Message: Posted by: TomBoleware (Mar 5, 2019 04:50PM)
Those were the first two that came up and I agree those may not be the best examples. But to me, it only takes common sense to understand that having more than one single
source of money coming in is a good idea.

Besides itís very hard to compare huge corporations to a one man operation like a magician. Company owners can stay home and still take in money. A sole business owner
that does it all doesnít have that freedom. They miss work they miss pay.

Anyway, it is a good topic for one to think about. Time flys and money flys even faster. :)

Tom
Message: Posted by: Jerskin (Mar 6, 2019 09:13PM)
Karrell Fox
Message: Posted by: Stewart (Mar 6, 2019 09:56PM)
This is how you go about things. At the beginning of your career you should focus on one thing that seems to work and get it up and running. Focus on it as if your life depended on it. Now once you have got it up and running (and it will probably take a while) it is time to weave another basket. Get something else up and running while at the same time keep your original business going. And you keep doing this repeatedly until you have a few things going and the more the better. You really don't want all your eggs in the one basket. If something goes wrong with that basket (and things ALWAYS go wrong!) you have the other baskets! Diversification is not a bad thing. In fact it is a very good thing. One venture at a time though.
Message: Posted by: Senor Fabuloso (Mar 7, 2019 01:53AM)
Yes because the videos of the professional magicians I posted, are all of people just starting out ;)
Message: Posted by: Ken Northridge (Mar 7, 2019 05:30AM)
Lance Burton "specialized" early in his career and had an outstanding act. Then he diversified. I think its fair to say he would not have been awarded a 100 million contract if he did not diversify.
Message: Posted by: Robb (Mar 11, 2019 10:50PM)
[quote]On Mar 3, 2019, Senor Fabuloso wrote:
Because it works. Have you ever heard the phrase "Jack of all trades master on none"? This is common sense approach to life that every successful person knows. Tremendous amounts of literature (sources available on request) has been written on the why and how SPECIALIZATION is the key to successful business. Now there are those who will try to tell you that having your hand in as many pots as possible, just makes sense but would concentrating on one thing and doing it perfectly or as perfectly as possible be what you would want in somebody, you needed for something? Or would you rather go to the doctor who also is uber driver or toy manufacturer? Think about it. No specialization is the key and in performance art especially magic it's so true.

Here are some people who's act never changed to my knowledge and is why they are and were, so sought after

https://www.youtube.com/watch?v=SABOxRvYojY

https://www.youtube.com/watch?v=R4RdUdfscaA

https://www.youtube.com/watch?v=FezUzXsle80

https://www.youtube.com/watch?v=u6P1QRqFeww

There are many more. I just posted these as illustrations of fact as opposed to the opinions often offered by so called experts. [/quote]

Seems to contradict the reality. Just watched a great interview with none other than the great Johnny Thompson and he stated that we need to be able to do lots of things if we want to make it in this business. I agree we need a wide skill set, adaptability to many working circumstances, endless creativity and a passion to learn and grow. Of course we can specialize but even within one speciality there is a great deal to learn and do. I am studying hypnotism right now with the hope of adding it to my act, but it may or may not happen in the end.
Message: Posted by: Senor Fabuloso (Mar 16, 2019 03:27AM)
Actually the performing arts professionals seem to say otherwise https://www.arts-people.com/three-words-every-performing-arts-organization-know-niche/ that's not to say that Johnny was wrong, only that it's one way to go. Look all of us specialize, but we can do many things. Lance Burton mentioned earlier can perform close up magic, but most would consider him a stage performer. Max Maven started out as Phil Goldstein and was a close up performer now, he specializes in mentalism. It's not a hard concept to understand. Finding your niche is a more concise, way of going about the business. Especially in a forum about starting in business. Otherwise the advise to diversify would have us going every which way, without clear focus. Never a good idea, in business.