Business Plans For Magicians
or How To Make Money As a Magician
Most successful magicians eg. Mac King and Lance Burton could make a living doing something else because they have understood the fundamentals of business.
Magic is simply a tool to make a living. In this episode of Magician Business podcast, magician/business owner /business lecturer Jim Keplinger takes us through the all important first steps of making a business plan.
How To Make Money As A Magician is a fair sub-title; you are really planning out how you are going to make your money. The value of a business plan is that is a roadmap for your success. Just like a Monopoly board.
One of the great takeaways I got from this episode is that there are 2 basic types of business plan: Internal and external.
Simply an external one is the type you would give to a bank when you wanted to borrow money.
The internal one is more your own personal road map that you update every few months. This is the one you need to be brutally honest about as you are the only one that need see it. It is like your personal audit of where you are, where you want to be and how you are going to get there.
In this episode we talk about:
- creating an executive summary ( a big name but super simple to do)
- mission statement .. keeping them simple and placing them where you can see them
- about honesty and how it can only benefit you
- a list of the top things you can do right now
- setting goals as part of your plan
- the importance of Google +
- the importance of having a good email address
- should you incorporate as a company?
- a simple way to do market research
- knowing the true costs of your business
- expenses vs. investments
- how much are you really worth?
- insurance or no insurance?
Links and resources discussed in this episode:
Get started with a Google + account here: Google Plus
Our own Magician Business Videos and Cheat Sheets – this is a practical place to get started on YOUR business plan
MB Episode 1 Andrew Smith – find out if you value yourself enough and charge accordingly
www.google.com/business/ :the Google business page we discussed
www.GreatestPartyEVER.com :Jim’s new page based on MB techniques…not yet complete
www.thatstherub.com :Jim’s spa, where he uses the same techniques we discuss on MB
The New Business Road Test: one of my very favorite books on making your business plan work FOR you instead of you for it
The Art of the Start: another great book for making sure you’re pointed in the right direction BEFORE you leap off the bridge
The Strangest Secret : This is the Youtube video of the Earl Nightingale talk mentioned by Julian in the intro to this episode. Produced in 1956, the spoken word record The Strangest Secret sold over a million copies, making it the first spoken-word recording to achieve Gold Record status
Thank you for listening
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Thanks again, Ken and Julian