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magico563 Veteran user UK, sheffield. 381 Posts |
Hey guy this is a post to say that in a few months time I am becoming officially self employed to be a full time magician. In a few weeks I am going on a 4 week training course all about having a business account and filling in the books. It walks you threw everything you need to know about been self employed.
That course if for a range of business so I thought I would post on here to ask about any tips you may have that will help me in the beginning and along the way. When I sign up to be self employed they give you a 12 week back track where you can include any expenditure or income that has happened in the 12 weeks before you signed up. Any tips or advice would be great. Also ask any question you like, I will happily answer! Thanks guys. Tom. |
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Sealegs Inner circle The UK, Portsmouth 2596 Posts |
File your receipts away regularly and frequently. It can become a daunting task if you let the pile get too big.
Neal Austin
"The golden rule is that there are no golden rules." G.B. Shaw |
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Jim Snack Inner circle 1338 Posts |
Tom,
Best wishes on your new venture. Here are a few things for you to think about as you get your business off the ground. What are you selling? There are several different ways to answer that question, depending upon your point of view, and they all offer different insights about your business. Here are three ways to look at it: 1. Entertainment – At the most basic level, you are selling your entertainment services, a fun show that provides audiences a diversion from the pressures and stresses of their daily lives. Your entertainment should provide an escape and take them away from their own problems. When your focus is on selling entertainment, you emphasize the features of your act, for example, your show includes audience participation, music, live animals, etc. 2. Solutions – On another level, you are not only selling entertainment, but you are selling solutions to a client’s problem. Whether it’s occupying a group of ten-year old children at a birthday party, drawing prospects to a trade show booth, or filling a theater, you should position yourself as the expert who can provide a solution to a particular client’s challenge. When your focus is on selling solutions, you emphasize the benefits or value of the service you provide, rather than the features of your act. 3. Dates on a calendar – While I don’t advocate that you point this out to a potential client, on another level, you are selling dates on a calendar. That’s your inventory. You only have so many dates available for performing. Once it has been sold or the date had passed it is taken off the market and it is no longer available to be sold. When you focus on selling dates, you must make a decision about how many dates you are going to be available for performing. A rule of thumb I recommend for full-time performers is 150 dates per year. Some performers do more, others less, but it is a good average. As a full-time performer you should be aware that there is a career ladder with several different levels in the business, each with different types of clients and different fees. (I discuss the five levels in detail in my Success in Magic course, but you can find a quick overview at: http://www.moremoneywithmagic.com/superconference.htm ) In show business, everybody goes up the ladder, and eventually goes back down the same ladder (unless you are Jerry Seinfeld and you get out at the top!) A beginning professional usually starts at the bottom of the career ladder and works him or herself up. At the first level, you are competing with a lot of part-timers, so start moving to the second level as soon as you have a product for those markets. Just some ideas to get you started. Hope it helps. Jim |
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magico563 Veteran user UK, sheffield. 381 Posts |
Quote:
On 2008-09-09 11:14, Jim Snack wrote: Jim I can’t thank enough! Thanks for all you great advice which has all been taken on board and will definitely be put to use. Any other advice people have, please felt free post Thanks again. Tom. |
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jackturk Elite user 463 Posts |
Congratulations! You're in for quite the adventure.
Two very core tips: 1) Make sure you have an excellent product to offer to the market. Be very honest with yourself and hard on yourself. Give your best every time out the gate. 2) Once you're confident with 1), focus 90% or more of your energy on generating leads and making sales. This is mission critical. Always be thinking of how you're going to fill the funnel with qualified leads. Always. Always. Always. Keep filling that funnel. --Jack
"59 Ways To Recession Proof Your Entertainment Business -- FREE!"
http://www.GetLeadsLikeCrazy.com "How To Make $25,000 a Year Doing Birthday Parties Part-Time" http://www.magicmarketingcenter.com/birthdayPT |
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Al Angello Eternal Order Collegeville, Pa. USA 11045 Posts |
How will you pay for your health insurance?
Al Angello The Comic Juggler/Magician
http://www.juggleral.com http://home.comcast.net/~juggleral/ "Footprints on your ceiling are almost gone" |
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Bob Sanders Grammar Supervisor Magic Valley Ranch, Clanton, Alabama 20504 Posts |
Tom,
Good Luck! Without an agent, you'll find that you'll spend considerably more time seeking work than performing. If you are good at that, you have no problem getting started. When it comes to records, if you make as little as bookkeepers charge, you have made a career mistake. I have an accounting card and went to law school. I hire both. They make good employees! Don't major in the minors. It takes resources you'll need to major in the majors. I know getting started is not easy. But I know it is worth while. Go for it! Bob Sanders Magic By Sander PS --- Al, He lives in the UK. It's not the problem for him that it is for us. |
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nucinud Inner circle New York, New York 1298 Posts |
Quote:
On 2008-09-09 14:42, Al Angello wrote: Hi Al, I believe he is in the UK, health insurance is not a problem.
"We are what we pretend to be" Kurt Vonnegut, jr.
Now U C It Now U Don't Harry Mandel www.mandelmagic.com |
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Al Angello Eternal Order Collegeville, Pa. USA 11045 Posts |
Hi Harry
What a lucky ducky. I wish we did not have to worry about our health insurance here. We are having an election soon so who knows we may have universal coverage one day. I am not endorcing any candidate, but if you care vote.
Al Angello The Comic Juggler/Magician
http://www.juggleral.com http://home.comcast.net/~juggleral/ "Footprints on your ceiling are almost gone" |
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millste Regular user 123 Posts |
Universal health care would suck. Anytime the government handles something and there is no competition in the private sector the industry standards go down the tubes.
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Al Angello Eternal Order Collegeville, Pa. USA 11045 Posts |
Both parties agree what we have now stinks, so vote for the candidate of your choice, but above all vote.
Al Angello The Comic Juggler/Magician
http://www.juggleral.com http://home.comcast.net/~juggleral/ "Footprints on your ceiling are almost gone" |
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magico563 Veteran user UK, sheffield. 381 Posts |
Yes I am from the UK and yes health insurance is not a problem.
I have thought for some time about an agent and also have spoken to a lot of full time workers (who work in my field of magic) about agents and I am getting a 50/50 response. Some say stay away from agents, they cause you problems and you can make it just as well without an agent and some say yes you should get an agent. So I think it is definitely something to consider. Also Bob, what do you mean when you say ’When it comes to records, if you make as little as bookkeepers charge, you have made a career mistake’? Thanks again guys and would love it if the advice kept coming Tom. |
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RJE Inner circle 1848 Posts |
Hi Tom,
In another thread you stated that you only have 7 routines that you do. On that thread, I suggested that you expand your repertoire. You stated that you did not think that you would, that the 7 routines would suffice. Now, I see that you intend to become a full time magician. So, my advice to you, once again, is to expand your repertoire. Good luck in your endeavours. |
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Bob Sanders Grammar Supervisor Magic Valley Ranch, Clanton, Alabama 20504 Posts |
Quote:
On 2008-09-09 19:05, magico563 wrote: Good agents are priceless. The others are a waste of time. Be picky! I want you to make considerably more money than a bookkeeper makes! LOL Enjoy being a performing magician. Bob Sanders Magic By Sander |
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Carducci Special user Denver 543 Posts |
Tom,
Having taken the plunge twice now (once in the UK, and then again after moving back to the states) Here is my advice: Don't quit your 'day job' until you have made all your major investments in your business (high quality act, high quality marketing materials etc) Make sure you have money saved up. This is really important. It may sound daunting, but try to have six months of living expenses saved up. You do not want a hard month or two to result in crippling debt. Make a budget and take a salary. When you're starting out, there will be really good months and really bad months. The idea is to keep your personal income steady even when the business income is not Get an accountant. This will save you money and headaches Treat your new business as you would any other job - put at least 40 hours/wk into it. If you're only performing 5 hours a week, you should be out getting more work the other 35. Constantly improve your act, but stick to a budget when spending money on books,dvds,props etc. The bulk of your investment should have come before you quit your dayjob. Agents can be helpful, but be cautious when signing exclusive agreements. DO partner with venues, event planners and the like That's what I can think of off the top of my head. Good luck! P.S. Millste, the universal healthcare in England kicks butt! I have never waited more than a few HOURS for a dr's appointment, I've never paid more than $20 for a prescription and have had hospital and ER treatment that is pretty much the same in the US. If you insist on paying for your healthcare in England, then there are plenty of private options available. |
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Al Angello Eternal Order Collegeville, Pa. USA 11045 Posts |
Health care
I did not want to open a can of worms here. Both parties say that they want to clean up the health care mess, so pick your favorite candidate and vote. full time Others may disagree with me, but I do all kinds of performing close up, parlor, stage, walk around, children, family, adult, and comedy club audiences. Some choose to specialize, but I try to be prepared for any offer that comes along, my wife insist's that I do not turn down any reasonable offer.
Al Angello The Comic Juggler/Magician
http://www.juggleral.com http://home.comcast.net/~juggleral/ "Footprints on your ceiling are almost gone" |
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Carducci Special user Denver 543 Posts |
I would be the 'other' in Al's post. I believe that part of my success has been as a result of doing a few things very very well. If a gig comes along and I'm not a perfect fit for the client's needs, I'll give the gig to someone who is.
That being said, both approaches have their merit. Just make sure you choose the approach that will make YOU happy. |
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Dannydoyle Eternal Order 21219 Posts |
I am also an "other" and vehemantly. It is 100% right FOR ME! Only for me.
Al's approach has HUGE advantages. HUGE. The idea of them calling and asking "what do you do?" and you answering "well what do you need?" can be quite appealing and can keep you in gigs forever if you play the cards right. I personally (and again this is for me ONLY) did not feel I could reach the levels I was after, by not concentrating my efforts. I felt that spreadiny myself thin was not a good idea.
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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Al Angello Eternal Order Collegeville, Pa. USA 11045 Posts |
Carducci & Danny
Your choice is a wise one, but I juggle, do stand up, this Summer I have even been busking which is instant gradification and it is my new passion. There is nothing like looking into your hat and measuring your success by counting the money inside. I haven't had a day job since 1998, and I will do anything I can to keep it that way.
Al Angello The Comic Juggler/Magician
http://www.juggleral.com http://home.comcast.net/~juggleral/ "Footprints on your ceiling are almost gone" |
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Dannydoyle Eternal Order 21219 Posts |
I haven't had a day job for about 20 years.
Like I said everyone chooses their own path. Key is to know you are choosing. I did busking early to avoid kids shows. Something I SUCK HUGE AT. (I admire those who can do them well) It takes what it takes.
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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