|
|
Go to page 1~2 [Next] | ||||||||||
Jim Snack Inner circle 1338 Posts |
I'd like to wish everyone a happy and prosperous New Year.
At last summer's Kidabra Conference I spoke about the importance of writing an annual business plan. Now that the hectic holiday season is behind me, I find it is the ideal time to look ahead and plan for the coming year. I wonder how many other magicians actually sit down and write a business plan each year, and, if so, what their process is. If there is interest in this topic, I'll be happy to share my process. Jim |
|||||||||
MAGICBYTIM Special user Louisiana 531 Posts |
It is on my list of things to do, but I have not written one before. I would like to see your process if you are willing to share.
|
|||||||||
Jim Snack Inner circle 1338 Posts |
In the section on business planning in Volume One of my Success in Magic course I wrote that "Before you can know where you are going, it helps to know where you have been."
The first thing I do is to review the previous year. I list all my bookings from the past year and categorize them according to the following properties: 1) What type of booking was it? Corporate, association, government, non profit, school, college, public event, private party, or other? Your business mix might include libraries, civic organizations, fairs & festivals, trade shows, cruises, etc. 2) What fee range was it in? I use the following categories: 0-$500, $500-$999, $1000-$1999, $2000-$2999, $3000-$3999, Over $4000. When I got started in business many years ago, it was more like 0-$249, $250-$499, $500-$999, $1000- $1499, Over $1500. 3) How many dates were booked through agencies or bureaus? How many were booked directly with me? Once I determine those numbers, I can answer the following questions: How many total booking dates did I accept last year? Taking into consideration that I may have performed multiple shows per date, how many total shows did I do? How many dates involved overnight travel? What was my gross income last year? What was the average fee per date? What was the average fee per show? How many bookings did I do for each type of client? What was my gross income in each category? What was the average income per date in each category? How much of my work came through agents and bureaus? Which agents gave me the most work? Which shows did I really enjoy doing, and which ones were not worth the trouble? (This is a very important question to answer, because if you don't enjoy the work, it's time to make a change.) Once I answer those questions, I pull out last year's plan to see if I met the goals I had set a year ago. After thinking about that for a day or so, I'm ready to set goals for the coming year. How much money do I want to make in the coming year? How much do I want my business to grow? In my first five years of business I tried to double the gross each year. Now I shoot for a 15-20% growth each year. How many total dates do I want to do in the coming year? Is that more or less than last year? What does my average income per date need to be to reach that goal? Then, I try to get very specific and set targets for the number of shows I want to do in each category and fee range, so I know exactly what I need to do in order to reach my overall financial goals. I take into consideration any adjustments I want to make in my business strategy. For example, I may decide to reduce the number of bookings in a particular category. Maybe the fees are too low. Perhaps I don't enjoy the work as much as I used to, or the work no longer challenges me. Or maybe business trends suggest that a particular market is shrinking or becoming more competitive. As a general rule for business growth, I try to drop the bottom 15-20% at the lower end and add 15-20% on the top end. I try to move up the career ladder in term of fees received and clients served.. Once I get those specific targets written down, I start working on the details of my marketing plan with such questions in mind as: What markets do I want to focus on in the coming year? What will I do to market myself in each category? Do I need new promotional materials, a new video demo tape, a new web site, etc? How many dates will I book myself and how many do I want through agencies and bureaus? What agencies or bureaus do I want to work with? How much do I want to travel? How many overnight stays do I want to do in the coming year? I spend several days just "blue skying" it. In other words, I imagine all the possibilities for the coming year and try to get a clear vision of exactly where I want to be at this time next year. After I write the whole plan down, I put it in a binder and review it periodically throughout the year, at least once every quarter, making adjustments as necessary. I do a complete review every July about halfway through the year to see if I'm on track. Then around the beginning of December I start the process over again. Jim |
|||||||||
Owen Anderson Loyal user A sturdy fence needs at least 231 Posts |
While I doubt anyone on this august forum _needs_ this information it was very kind of Mr. Snack to humour us...
Thank you and all the best for '06. Now, where did I leave that legal pad...?!
Owen Anderson
|
|||||||||
Dennis Michael Inner circle Southern, NJ 5821 Posts |
It is interesting that you posted this Jim: I've been a busy bee today transforming my Birthday Party Business Plan into a Daycare/Preschool Business plan.
I have all the magic and books listed below, and most of the routines already completed from previous experience. I am in the process of trying the Daycare Market. I have had some experience in it but I never venture heavy into it. I did get a lot of good information out of Tom Boleware's The Daycare Magician book. As you can see the first draft has been written, but the selection of effects and marketing paperwork, business cards, postcards. etc. is not complete. I will expand upon these in my second draft, and I want to add some new magic I have created for this market, and think about why I want what effects in my show. Dennis Michael Daycare and Preschool Magic Business Plan ----------------------- Draft Ver. 1.0: 01/01/06 ----------------------- Vision Daycare and Preschool Magic vision plan is to make a "Magical Stars" out of the local area children by providing them and the Daycare and Preschool Staff with memories which will last a lifetime. ----------------------- Mission To provide the local community and area with a professional quality Daycare and Preschool Magic Show and though this medium it will aid in becoming nationally know as one of the top children's entertainers and open doors to other types of shows, from word of mouth marketing. ----------------------- Goals
----------------------- Stratgies
Tactics
Day Care Magic Show 1. Develop a Show Select the tricks that might be a great routines for this age Group. Keep in mind that Day Care children do like puppets and story telling. To do four shows a day, keep the routines so they all fit in one table, pack flat, and reset very easily. The routines should strive to gain one to four laughs a minute for a successful routine. Some questions that need to be answered related to selection of routines:
I have many other routines which I will use for seasonal shows. Bolded Selections are possible choices to first consider.
Warm-up Routines Resources: Internet Links Halloween DVD: http://www.KIDabra.org/products.html Holiday DVD: http://www.KIDabra.org/products.html Trading Cards: http://www.auragraphicsinc.com Daycare Products by SPS Publications: http://www.SPSMagic.com Daycare Products by Dave Risley: http://www.DaveRisley.com Snack, Jim, Success in Magic (Ice Cream Social): http://www.success-in-magic.com Bent, Mike (Halloween Headquarters) http://www.MikeBentMagic.com Stead, Arthur (CD Routines): http://www.ArthurStead.com Laflin, Duane: (Henry Trickadini) http://www.laflinmagic.com Tom Boleware: (Must Have Book) http://www.pinebeltmagic.com/book.htm DVD/VHS DVD: Things Go Magical In the Night by KIDabra International Website: http://www.kidabra.org/products.html DVD Smith, Samuel Patrick 1994 The Magic Ingredient & KIDOLOGY SPS Publications. Web Site: http://www.SPSMagic.com Books Boleware, Tom 2004, The Daycare Magician, The Magicians Guide for Working Preschools 11 Southern Lane, Hattiesburg, Mississippi 39402 tomboleware@comcast.net http://www.pinebeltmagic.com/book.htm http://tomboleware.ipbhost.com Smith, Samuel Patrick 1993, Kiddie Patter & Little Feats How to Entertain Pre-schoolers with Magic and Funny Stuff Published by SPS Publications, Tavares, FL, USA ISBN 1-881099-02-4 http://www.SPSMagic.com Smith, Samuel Patrick 1990, 2003, Big Laughs for Little People, How to Entertain Children with Comedy Magic Published by SPS Publications, Tavares, FL, USA ISBN 1-881099-31-8 http://www.SPSMagic.com Smith, Samuel Patrick 1999 2005 The Confidential Day Care Booking Manual (CD Insrt) Published by SPS Publications, Tavares, FL, USA Ginn, David. 1984 Magic and Monsters For Kids I Love, Scarlett Green Publication, David Ginn, 370 Bay Grove Road, Loganville GA 30052 USA (770) 466-8421 • FAX (770) 554-8209 ginnorders@comcast.net http://www.ginnmagic.com David Ginn’s Magic and Monsters is a Must have for Children’s Halloween Shows This hardback book, perfect ammunition for Halloween shows, ended up with 13 spooky chapters: Kids Love Monsters, Monster Warmups (like the hot book), Ghost Rabbit, Snakesville (spring snakes), Card Spider (thanx to Gene Gordon), King Kong Goes Bananas, Dracula’s Coffin, Monster Possibilities, Guest Monster Roy Porfido, Monsters for Laughs (over 200 jokes & gags), Acupuncture Cabinet, Vampire Stuff , and the Guillotine. All played for FUN! Web Site: http://www.GinnMagic.com Wagner, Karl 1991, Safety Magic for Children Snowflake Publication David Ginn, 370 Bay Grove Road, Loganville GA 30052 USA (770) 466-8421 • FAX (770) 554-8209 ginnorders@comcast.net http://www.ginnmagic.com
Dennis Michael
|
|||||||||
Jim Snack Inner circle 1338 Posts |
Den, you always blow me away with your thoroughness!
JIm |
|||||||||
TomBoleware Inner circle Hattiesburg, Ms 3163 Posts |
Den, forget the shows and write some books. LOL
Great plan and a good example for others to follow. No question about it, you will do great in the Daycare market. Thanks for the nice words about the book. Go get’em Happy New Year Everybody Tom
The Daycare Magician Book
https://www.vanishingincmagic.com/amazekids/the-daycare-magician/ My Blog - https://boleware.blogspot.com/ |
|||||||||
magic4u02 Eternal Order Philadelphia, PA 15110 Posts |
Great stuff. I follow a similar idea as Den and Jim. I am in the first step of my process and that si always evaluating my past year and comparing it with my 2005 business plan and also with my stats from 2004. I try and see if I attained some of my goals, if I reach any and if I didn't why I might have missed it and what I can do to improve.
The evaluation process I do really factors in quite a bit of information. A lot of it has already been mentioned above so I will not go into to much detail here. The basic idea for me is to know: - How many shows of a particular market I have done - How much income I made per month - How much income I made per market - How much did I make in BOR sales - How much did I sell per BOR item - How much I sold at what particular markets and events performed at - Travel exspense for the year - Gas exspensese etc for the year - What marketing did I do and tracking of actual results etc. etc. You get the idea. For me it is really a complete and total evaluation so that I cna look at the numbers and not just see I made X amount for the year, but really understand where the money was generated from, what marketing worked the best to give me the best ROI. It really helps me to figure out what markets have been the best for me and what marketing seems to be working or not working. I can then make adjustments and set a business plan and strategies into action for 2006. Only when I know where I was for 2005, can I make plans for directions to take in 2006. I have to know where I came from so I can know where I am going. I have already started my initial evaluations for 2005 and will finish them tomorrow. I have already also begun a process for writing down my goals and things I want to change for 2006. My wife and I will then spend the week going over them and evaluating them and getting our plan together. Have a great and successful 2006. Kyle
Kyle Peron
http://www.kylekellymagic.com Entertainers Product Site http://kpmagicproducts.com Join Our Facebook Fan Page at http://facebook.com/perondesign |
|||||||||
Bob Sanders Grammar Supervisor Magic Valley Ranch, Clanton, Alabama 20504 Posts |
This is the official page one of 2006. I even have monthly my calendars printed out! Guess what? I don't have a conflict until Jan. 17 when I have to find a way to get from Montgomery to Tennessee in three hours! (Did I mention that I no longer have a plane?)
Aside from that a shipment of silk from China that should have been here December 23 has not appeared. (So much for working with those while I was at home!) I'm glad to see that the rest of you are so prepared. Happy New Year! Bob Magic By Sander |
|||||||||
magic4u02 Eternal Order Philadelphia, PA 15110 Posts |
Bob: I hear if you flap your arms really fast and get a nice running start, magic may happen. =) Well maybe it won't happen, but it may give you a nice comedy line to use when you get there. Have a great healthy and successful New Year.
Kyle
Kyle Peron
http://www.kylekellymagic.com Entertainers Product Site http://kpmagicproducts.com Join Our Facebook Fan Page at http://facebook.com/perondesign |
|||||||||
Bob Sanders Grammar Supervisor Magic Valley Ranch, Clanton, Alabama 20504 Posts |
Kyle,
Do you think eating feathers would help? (You can be proud. I made a phone call and got four more hours between them. Now I can make it! Alive!) Bob |
|||||||||
drwilson Inner circle Bar Harbor, ME 2191 Posts |
Wow, you folks are really inspirational, and you are giving it away. You are messing up all of my carefully crafted excuses. Thank you!
Yours, Paul |
|||||||||
magic4u02 Eternal Order Philadelphia, PA 15110 Posts |
Paul: OOOPS did we do that? Sorry! I guess you will just have to be more creative and come up with better excuses for 2006. hehe Just teasing ya.
Bob: Creating extra hours is a manipulation of time itself. That is some mighty strong magic there. Nice. Can you extend my holiday while you are at it? Thanks. Kyle
Kyle Peron
http://www.kylekellymagic.com Entertainers Product Site http://kpmagicproducts.com Join Our Facebook Fan Page at http://facebook.com/perondesign |
|||||||||
Dennis Michael Inner circle Southern, NJ 5821 Posts |
Paul,
There is a lot left out such as the detailed Market plan. List of Marketing books, the direct mail campaighn. The routine script, finacial plan so one knows were the money is coming from and going to. I could do without them and just basic market, and wait for the phone to ring (Worst marketing plan) Den
Dennis Michael
|
|||||||||
magic4u02 Eternal Order Philadelphia, PA 15110 Posts |
I use scripts and templates all the time as part of my marketing plan each year. I keep every e-mail I send out in a word file and then use space afterwards to rate and track how effective the letter or e-mail was for the market I was aiming for. This helps me to really see how well I am doing with my techniques and it also saves me a lot of time as well.
I have phone scripts set ip for when people call, when they ask about budgets etc. This always keeps me prepared for any situation and helps refresh my memory as I have them by the phone. It is a handy tool to look at if anyone calls and I feellike I am still half asleep. I can always use them to stay on target and remember the things I want tolet them know about. The letter templates help me to save time as the system really helps when people use the form section of my website etc. I have the templates written so I can just plug in a name and some other information and get those out to the person. My aim is to always get back to the prospect in 24 hours and in most cases within 12 hours from their initial point of contact. This is something I strive for and something clients and proscpects have mentioned they really appreciated about what Kelly and I offer for them. Kyle
Kyle Peron
http://www.kylekellymagic.com Entertainers Product Site http://kpmagicproducts.com Join Our Facebook Fan Page at http://facebook.com/perondesign |
|||||||||
DoctorCognos Elite user 413 Posts |
Excellent thoughts on the topic. "Failing to plan, is to plan to fail."
And as Dale Carnegie once said, "If you don't know where you are going, any road will take you there." Not very many in magic look at themselves as being important enough to control their own destiny. A sad state of affairs. But it good to see a few getting it down on paper, "Planning the work, and working the plan!"
The Doctor Knows.....
|
|||||||||
magic4u02 Eternal Order Philadelphia, PA 15110 Posts |
Yes indeed. The longest journey is still started with taking that first step. I took that stepand I am still going to keepon walking. I have seen the difference marketing, having a business plan and taking direct action has had on my life and the success I am now acheiving. It is quite remarkable and my wife and I are surely enjoying it.
Kyle
Kyle Peron
http://www.kylekellymagic.com Entertainers Product Site http://kpmagicproducts.com Join Our Facebook Fan Page at http://facebook.com/perondesign |
|||||||||
Jim Snack Inner circle 1338 Posts |
I enjoy the planning process, i.e. "planning the work," but truth be told, I'm not always so diligent on the second part, "working the plan." If I look at last year's plan, there are many things I want to do, but never got to.
Still, I'm convinced that there is some "magic" or "voodoo" that happens when I prepare the business plan. Even if I don't even follow through on all the action steps I laid out at the beginning of the year, somehow, don't ask me how, I meet my goals. Maybe the reason it works is because it helps me get clear about what I'm trying to create in my business. This year I'm going to focus a bit more on the second part of the process to see what happens. Jim |
|||||||||
magic4u02 Eternal Order Philadelphia, PA 15110 Posts |
Jim: I think you are right. I wouldlike to share something an art teacher told me once about creativity that sort of applies to this. He said that I should go out and sketch all the time. It ddid not matter what the subject was or even how good it was. He said to totally freeyour mind and just do the art of doing. I always wondered why so I asked him one day.
he said that it is the art and act of doing that trains the mind. Even though we may not recall the things we did or wrote down or drew, our subconscious mind is getting a sort of work out. We are training the mind and exercising it. I think this applies to the act of creating a business plan. I think just the act of actually doing it and going through the process trains the mind to think in a more proactive way. Even though you may not always meet every goal or even remember everything on the plan, your mind gets trained through the process and retains some of that knowledge. In a way it starts to become habit. I have seen it work in my art and with my magic and so I try and always go through proceses and writing down stuff because I know it works for me. Just a thought. Kyle
Kyle Peron
http://www.kylekellymagic.com Entertainers Product Site http://kpmagicproducts.com Join Our Facebook Fan Page at http://facebook.com/perondesign |
|||||||||
Jim Snack Inner circle 1338 Posts |
Kyle,
Great point. It makes me think of two things. I attended an educational workshop several years ago led by a successful actress who was doing arts in education programs in schools. She related a story about doing a workshop in New Mexico for members of a Native American tribe. After stressing the importance of the arts in education, she was finally interrupted by one of the tribe elders who told her that they were having trouble understanding. You see, their tribe did not have a separate word for art. It was an integral part of their life and they did not separate it from other activities, even mundane daily activities like getting dressed. "You Anglos are always separating the world," he complained. To Native Americans life and art are one and the same." There is some art in creating one's magic business, not unlike the art of creating a drawing or painting. You start with a vision, utilize techniques to bring that vision into reality, often getting frustrated because your techniques or resources are limited, complete the work despite the limitations, then start again. The outcome is the result of our creative process as we overcome all the challenges along the way. That's why I've alway found the business part of magic fun and creative. Break a thread... Jim |
|||||||||
The Magic Cafe Forum Index » » Tricky business » » Annual Business Plan (0 Likes) | ||||||||||
Go to page 1~2 [Next] |
[ Top of Page ] |
All content & postings Copyright © 2001-2024 Steve Brooks. All Rights Reserved. This page was created in 0.14 seconds requiring 5 database queries. |
The views and comments expressed on The Magic Café are not necessarily those of The Magic Café, Steve Brooks, or Steve Brooks Magic. > Privacy Statement < |