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TomBoleware Inner circle Hattiesburg, Ms 3163 Posts |
Let’s not forget how important Money Management and Time Management can be to a business.
One or the other usually plays a big part in a business failure. Controlling the two are major keys to success. Tom
The Daycare Magician Book
https://www.vanishingincmagic.com/amazekids/the-daycare-magician/ My Blog - https://boleware.blogspot.com/ |
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Mindpro Eternal Order 10585 Posts |
Lou, I know that I have no idea what you are talking about. (lol-just kidding) You are correct people don't know what they don't know, which has always been the biggest part of the problem. Then it comes down to being one of two kinds of people. 1. - those that realize this, accept and come to terms with this, and then set out to try to discover and learn what they don't know, and 2. those that can't comprehended that there is more than only what they currently know, aren't open-minded enough to consider there is more, and fail to accept anything more than they currently have or know. These people often compare themselves to others and yet can't see the differences and can actually become blinded to the true reality of the differences. They see things as the same or equal, when in reality they are comparing kumquats and watermelons.
Truth be told, most performers (of all types, not just magicians) do not see themselves or operate as a business. Period, that's it. They never got into performing as a businses venture but rather maybe as a hobby, for fun or personal interest. But at some point, whether they like it our not, whether wanted or not, whether intentional or not, it becomes a business. Perhaps not to them but to others, the marketplace itself and especially to those be hired/booked for compensation. Since this often is not a conscious choice or decision, it blindsides them, they often think something along the lines of "I became a performer for fun, because I enjoyed it, not to have to deal with all of this business stuff" or some similar thoughts. I can tell you without a doubt this is not the way or foundation for a business or to be successful as a performer. Others do realize that their performing could be a business, part or full-time, but for example, if they only want to perform part-time, they mistakenly believe that they only need to put part-time (or usually half-a**ed) efforts into their "business." They think they're a business, but they likely are not truly operating as a business. They resist the business aspect or only pick and choose certain elements of it, regardless, they don't fully commit to it as they should. In reality they should be putting in equal effort into the business as they do to their performing initially. Eventually it should shift to more time and effort into the business as the performing will get and remain at the established level. It will maintain it self requiring only occasional work, effort, updating, etc. To me this is why more aren't posting on this thread, because of these perceptions and attitudes towards their business, and what they may not understand about their own businesses. Then there is also those that do realize that they need something, have a few ideas of what they need, but also realize there is much more that they need that they don't know or realize, but they simply see it as overwhelming and fearful. I agree that no one can (or should be selling) be selling your business better than you. Don't rely on agents, event planners and others to do this for you (save the 20%). There is more profits and direct benefits form booking yourself, and no one cares about you and your interests more than you. Tom, I agree with you that time and money management are very important to an entertainment business. Of course this often means approaching your performing as a business which many don't like to hear. There are two ways to increase your bottom line in business - increase income and lower expenses. These too are part of time and money management. What most don't realize it it can be done and done well with only a couple of hours per day. Two hours of booking/marketing and one hour of operational per day (when organized, with all components and an operational system in place). Again, most don't know what they don't know. |
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charliecheckers Inner circle 1969 Posts |
[quote]On Oct 22, 2014, Ed_Millis wrote:
Quote:
I've got a full-time job that I'm not going to quit. I have some lifestyle choices that are extremely important to me, and I will quit magic before I touch them. I'm in a small rural city in one of the lowest income and highest unemployment areas of the US. And I don't know enough about how to create a business strategy to prosper in these circumstances or where to go to learn how to set up a viable business structure. Ed - thanks for posting here. I actually believe ego is why many more do not share their biggest obstacles. I am no expert, but I do think your biggest obstacle is your perspective. Many would be envious of your situation. You have a full time job that leaves Fridays and Saturdays available for shows. You have identified markets that attract performers who receive well in excess of your asking price, which tells you there are opportunities. You have many years of discussing aspects of your business with others who share your interests. This thread alone gives you suggestions on how to build your business. Danny mentioned developing a mission statement. I introduced the value of a USP and Nick gave an excellent example how to develop and strengthen one. Mindpro shared the true value of owning a performance that cannot be offered by others, as well as many things to avoid and how to stay focused and organized. Their is a ton of information shared in the business section that assists with the markets you mentioned (Libraries and Schools). Lou offers a course that people speak highly of, and Tom offers a Daycare Market book that I own and can attest to the value. |
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Dannydoyle Eternal Order 21219 Posts |
Lou brings up the best point. "Areas of knowing" .
That is great Lou. A great way to define it. One that I always thought hurt most businesses is when people "think they know". My brother in law is the absolute favorite customer of his plumber, mechanic and carpenter. He thinks he knows, or at least knows just enough to cause damage when he tries to fix it, and then it costs him way more to get it fixed. I used to suffer from being afraid to not do things others have not. In performance and in business this can be crippling.
Danny Doyle
<BR>Semper Occultus <BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell |
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Sam Sandler Inner circle 2487 Posts |
When I was in high school I was part of FBLA and DECA (future business leaders of america and Distributive Education Clubs of America)
IN FBLA we had to create a biz and then right out the 1 year, 5 , and 10 year plan i was lucky enough to win a spot for the national competition lemonade stand. where we had to right up a biz plan for this. what we learned is that starting a biz is the easy part it is the sustaining it that is the problem. on paper it looks good but it TAKES ACTION to make it work. where I have struggled in the past and even today was taking action on what I knew I should be doing. when I lost my hearing in 2009. I lost so much more. my biz plummeted because I withdrew and stopped taking action. I went from dozens of shows a month to 2-3 a month. I knew what to do I just did not do it. I lost the desire. I let my disability take over and it cost me dearly. finally after almost 2 years of losing everything I pulled my self together and put a new plan into place and then TOOK ACTION. I worked hard. maybe harder then I ever have before. this led me to develop a new show and to promote it in a unique way which led me to more bookings which led me to a 45 state national tour! but it all started when I took action! i am still working to over come all that I loss and I still struggle with performing being deaf. but I keep at it! i struggle with following up with clients as I rather not have to call them with my special phone system. by the way I took 5th place in the national competition for the lemonade stand. i will leave you with some thoughts from my lecture why we need to write our GOALS down on Paper: ---It will clarify what you want and where you need to go – as Alice in wonder land asked “Would you tell me, please, which way I ought to go from here?" "That depends a good deal on where you want to get to." "I don't much care where –" "Then it doesn't matter which way you go.” If you don’t define your goal and write them down you will be less likely to full fill them I believe it is something like 60-70% of people that don’t write their goals down don’t reach them or don’t reach them in the time they had wanted too. ---It will help you TAKE ACTION – your destination is in front of you and now defined. You now know what you need to do to make it happen. ---It will help you see the progress you are making as you read the goal and see where you are. "Nothing worthwhile ever happens quickly and easily. You achieve only as you are determined to achieve...and as you keep at it until you have achieved." Robert H. Lauer "It's not who you are that holds you back, it's who you think you're not. believe in yourself, work hard, and success will indeed follow!" Sam Sandler i know I need to do more and TAKE MORE ACTION. but there are times I struggle with this. sam
sam sandler- America's only full-time DEAF Illusionist
http://www.samsandler.com http://www.deafinitelymagic.com |
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Mindpro Eternal Order 10585 Posts |
Quote:
On Oct 21, 2014, charliecheckers wrote: I agree. It's so nice that members are productively contributing and sharing as this forum is designed to be. It's also been nice lately to see some new faces and members that have previously stayed away for obvious reasons. I think many are taking great things away from these types of posts. There are so many layers and components to business, and the art and performance of business operations. It's so nice to have an area where guys (and gals) are not talking about the latest trick, slight or move, handling hecklers or screaming kids, but rather can focus on the true things that can move a business forward, make the profits and literally have a direct affect on ones income, bottom line and life. I think this is an exciting time for entertainment business as it seems more and more people are realizing the true potential of an entertainment business and operating as a legitimate business. I remember a time when, as a full-time entertainer, we couldn't get credit card, car loan or mortgage. It was unacceptable to put "entertainer" on an application. The IRS didn't even consider local and regional level entertainers a true profession. Today many of our dreams have come true and allowed us to accomplish things we had only previously dreamed of by being an entertainer. Local entertainers can now have a decent income, a couple of cars, a nice home in a nice area, put kids through school, take vacations and even work on retirement - from being an entertainer and doing what we love. Even part-timers have found a far better paying and enjoyable opportunity than having to work a $10-$15 hour side job. The business of entertainment allows many great opportunities today. I think this forum can be one of the most productive and beneficial to what we do and love. |
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charliecheckers Inner circle 1969 Posts |
Quote:
On Oct 23, 2014, Sam Sandler wrote: My business started out like a Lemonade Stand, in that I was only in it for the business/communicating experience. I was hoping to do a little better than breaking even. (If not for for The Magic Café, I would never have even achieved that goal). In fact, today learning those elements is far more valuable to me than the money. Sam - thanks for the words of wisdom! A frequent reminder about the need to Take Action and set goals is most helpful. |
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charliecheckers Inner circle 1969 Posts |
Quote:
On Oct 23, 2014, Mindpro wrote:. That is so true. Twenty years ago someone like me could never have been able to develop a business the way I was able to. (The key words from the last sentence are "like me"). I am very fortunate to have had others pave the way. Mindpro points out struggles from the past that I was unaware of. Knowing them now makes me even more humble. I try to never take it for granted. The access here to great minds, great performers, and so many diverse experiences really make this a great learning environment. |
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Howie Diddot Inner circle San Francisco & Los Angeles California 3288 Posts |
Quote:
On Oct 21, 2014, lou serrano wrote: Lou I totally agree with your post; well written and thoughtful |
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Ed_Millis Inner circle Yuma, AZ 2292 Posts |
CharlieCheckers: (is this Danny or Joey??) Thanks for the support. Everything you wrote is true, but I already knew that. I have several courses, I've asked a lot of questions, I've got a ton of information. I just don't have much business.
One thing I have discovered in myself and in friends who have struggled with business ventures is the fear factor. Sometimes this falls into the "not knowing" category: we historically come to a certain point and then it falls through - always for a good reason or for circumstances beyond our control - and never can figure out why. Here's where a good friend, mentor, or coach can help you ask the hard "why" questions (I knew this already, too, but also see www.michaelnichols.org/coach ). Sam: Thanks so much for sharing your struggles. Set-backs can take the wind right out of your sails, and sometimes you wonder if you'll ever recover, or if it's even worth trying. There's no course that can help with that - that's something that has to come from inside. Ed |
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sandsjr Special user 840 Posts |
"The War of Art," by Steven Pressfield is a book I would highly recommend to anyone. Ed I think this would be perfect for you. It will help you to identify where the "resistence" really comes from and how to deal with it.
Life is rich, opportunities abound... all of the answers are there, we just have to find them. Ed, what if I told you with a shift in thinking you could actually "enjoy" marketing your show? It's never too late to start. I think Mindpro is right on when he says we get into this as a fun hobby and find our way to making it something we want to do for a living. So we "tear" ourselves away from the art part, tiny-bit by tiny-bit. A better way would be to fall in love with the Biz/Marketing side and approach it with the same fervor you have for the art. THEN all the natural laws of "attraction" if you will, become available to you! You start finding lots of solutions. Everywhere you turn you discover new ideas. The floodgates open up! What you once found to be a dead end becomes the road to riches. On the topic of "writing things down," this is a HUGE deal!!!! Think about how many times you've gone online in search of something and find yourself an hour later looking at something completely random. Our brains are like hyperlinks, they jump from thought to thought and we end up all over the map. At the end of the day you find you have accomplished little. When you write something down you have a clear outcome and the steps you are to take to get that outcome. I highly recommend Tony Robbins' "The Times of Your Life." What is it that you REALLY want and more importantly, WHY? It's the why that needs to be STRONG. Like he says, it's the "juice" you need to get you through those times we tend to stray. Then, you'll list out the most important things you can do to accomplish X by X day. If you KNOW you are doing the absolute most important thing you can be doing to get to where you KNOW you want to go, you can't do more. And believe me, you'll get there! I'll share a quick story that illustrates how the way we "think" about something affects our approach and ultimately our life! A relative is in a sales position and earns BIG $$, close to seven figures. An average commission is around 5K. There are many times he'll earn 25k or 50k for ONE commission. Another relative is in the same business. He had a case where he earned $125K! I asked, "If you're spending the time anyway, why don't you focus on these higher end clients?" The answer was it's easier to deal with lower $$ clients... they listen to what you have to say and don't drive you crazy like the higher $$ clients do. The higher $$ clients are impossible to get through to. I replied, how did you earn that 125K case? The answer was, "It was a friend!" DING DING DING DING DING DING! When you try to approach a high $$ client in the same way you approach a lower $$ one, it becomes difficult, even impossible to break through. He's been in the business for 25 years! And for all of those 25 years, this one little idea held him back!!!!!!! If you find you're walking against the tide, turn around and SURF. Why not brainstorm a little... ask yourself what organizations does this high $$ person belong to? Where do they go for recreation? What clubs do they belong to? Then go to those same places... get out and make more FRIENDS! It's really THAT EASY. Sit down and develop your approach. Ask yourself how you can help them get what they want so they can help you get what YOU want. It's a WIN WIN! Lastly, one suggestion I find invaluable for myself is to SCRIPT everything! Sit down just like you do with your effects and script what you're going to say to ANY potential client or event coordinator or agent or ANYONE else. Learn and know how you can help them with what you do so they can help you. Be on the lookout for oppportunites everywhere you go, EVERYWHERE! The opportunities are there, be ready for them and know exactly what you'll do when you find them. Hope this helps. |
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Mindpro Eternal Order 10585 Posts |
Quote:
On Nov 2, 2014, sandsjr wrote: I know it's weird for many to understand, and I have addressed this here before, but I have had a passion for entertainment business for many decades. It started at a very young age for a variety of reasons. At times my passion for entertainment business was even greater than for performing! When you really get into the layers, depths and understanding of entertainment business, it is a truly a unique, fascinating and amazing and far more possibilities and opportunities than most realize. I too believe that when you understand something completely it becomes more enjoyable and productive, and of course when you enjoy something it makes it more inviting and we generate much better results. A mind shift and the proper perspective is usually all that is required for the shift in mentalities and approach to begin. |
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lou serrano Special user Los Angeles, CA 671 Posts |
Sandsjr,
Excellent post. Thanks for sharing. Lou |
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Ed_Millis Inner circle Yuma, AZ 2292 Posts |
I've read "The War of Art" - need to read it again. I also have "The Flinch" by Julien Smith (free Kindle download from Amazon), and I read Seth Godin's blog and fully identify with his lizard brain. Still, it can be difficult to overcome decades of programming that "they can do it because they are special and talented", or " you don't know what to do so stay down there and be glad you get a paycheck".
I am glad I have my paycheck and benefits, and I don't want to give them up just yet. And I have done more in the last year than in the past three or four. Still not always easy to take that next step off the cliff for some of us. On the other hand, just putting this out into the light helps a great deal. Not sure what next year will look like, but I think it will be different than this one. Ed |
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Mindpro Eternal Order 10585 Posts |
As I mentioned in the start of this thread a few weeks back I was asked to speak at business building workshop for small business owners and entrepreneurs. I was added after the event had been planned (I think due to a cancellation of someone else), so I wasn't there to sell my products (although I did pickup a couple of potential coaching students) but was asked to speak and present on what is missing form most businesses or business operations. After a very nice introduction highlighting my business success I offered my presentation to an audience of about 130 or so. Attendees paid around $3000 each to attend this event, so they had a decent level of seriousness and commitment.
While all of them had different levels of progress and success, there were some interesting perspectives that came out of it which was the inspiration for this thread. I spoke primarily on my businesses and my business operational system. The important component between the product or service and the marketing. I hit on "we don't know what we don't know" as mentioned earlier in this thread, as well as what I call "The Breakthrough Point" (something that in my experience all successful businesses have at some point to really breakthrough to advanced levels and the levels of true success). Since a big part of this is positioning and separating yourself from your competition, this leads to many questions, some specific from attendees (my presentations are highly interactive). I spoke about one of my longtime friends (over 30 years) who had great success with his nationally-known rock bands for nearly twenty years having several chart topping hits that almost everyone knows quite well. But it was his Breakthrough Point that allowed him advance to stratosphereic levels by writing one of the top 100 hits of all-time, a song known around the world to people of all ages, that was considered a "classic" or "anthem" in the rock and pop worlds that put him and his career on a greater level of success worldwide - as he attained his Breakthrough Point. Since I has just produced a concert with him for one of my companies a couple of weeks before, and we are currently working on some broadcast projects together, I used his example in my presentation. The biggest areas that the audience stated were: -They don't know what they need - this then usually causes guessing, theorizing and other "attempts" at indentifying the need or problem area usually with great uncertainty and without clarity -The don't have a proper business operational system in place -Their marking efforts (blanket and target) are not consistent enough and properly defined (or executed) -They don't have a very specific target customer properly defined and focused as part of all of their efforts -They are not separated and don't know how to separate themselves from their competition (positioning) and do not have any/many of the necessary components to do so -They did not truly have a very specific understanding of their target customers' exact needs, interests, concerns and emotional process -They struggled with developing the long-term relationship with a customer and maintaining the lifetime value of a customer (there were more but these were the main points overall as they pertained to nearly everyone in attendance) What I found interesting is even though these were not entertainers (although we did have four there that were, no magicians) they all have similar and in some cases identical concerns and issues. It was for this reason that I posed the question here to see how the responses would compare. I think as entertainers, we have to understand that entertainment business has it's own set of rules and operational uniquenesses. Yet once that is understood, many of the issues are the same same as in others businesses. It is how we understand and proceed with them that the differences and solutions can come int play. Just thought I share as a couple of you have asked me in reference to my first post what the others (in attendance) had expressed and their top concerns and problem areas. |
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Ed_Millis Inner circle Yuma, AZ 2292 Posts |
Guilty as charged on all counts!!
Ed |
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lou serrano Special user Los Angeles, CA 671 Posts |
Quote:
On Nov 5, 2014, Mindpro wrote: This serves as a great reminder that others don't know what we know. The knowledge we have that we take for granted may be revolutionary ideas for others. This pertains to all areas of knowledge, not just business. All of the above concerns seem like business and marketing 101 to me. They are the fundamentals on which highly successful businesses are built. Not only do the fundamentals never change (the medium may change, but not the fundamental idea), but there are always people who have never heard of the fundamentals. For those who do know them, they still need to be reminded of them. Every time I start a new project, I start with the fundamentals and build from there. It's one of the reasons why this forum is so beneficial to many including myself. Lou Serrano |
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Dannydoyle Eternal Order 21219 Posts |
Desire. Absolutely the biggest problem. I have no desire to do the things that need to be done. I did not become a performer to do business things 60 hours a week.
Danny Doyle
<BR>Semper Occultus <BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell |
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charliecheckers Inner circle 1969 Posts |
The four previous posts here are collectively an impressive overview of important components to remember and consider:
Know what fundamentals are identified as critical factors. Understand which areas we fall short in successfully implementing. Appreciate the knowledge we do have (and the need to constantly remind ourselves of the fundamentals). Be honest with ourselves with respect to our personal goals and the effort we are willing to exert. |
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Sealegs Inner circle The UK, Portsmouth 2596 Posts |
I hope this thread continues as its been an interesting read and I 'd like to join in and contribute. But at the moment I'm in the middle of a month of ship hopping and I decided not to bring my Mac with me on this trip and typing more than a few words on my iPhone is proving to be a chore. So I'll join in in a few weeks if there's still some life left in it.
Neal Austin
"The golden rule is that there are no golden rules." G.B. Shaw |
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