Meet the MRS – Multiple Revenue Streams

June 25, 2016 by Stu Chisholm

When I wrote my book, The Complete Disc Jockey, back in 2008, the economy was in a shambles. nlfx-stuEconomic recovery was slow, and hadn’t even begun in most areas, and a good many DJ companies simply flickered out of business. Those who remained were barely holding on. Things looked dire.

I had originally started my project to write about all of the different jobs a DJ could do beyond the “big three” of mobile, club and radio. Including those, I detailed over a dozen fields open to a professional disc jockey, along with some things that an existing entertainment company could add to their roster of services in order to maintain a healthy bottom line. My little book suddenly became more important! At that time, few DJs had ventured into things like photo booths, uplighting, monograms, etc. I was gratified to see that message spread far and wide, and today, many of those additional services, add-ons and upsells have become common.

Looking beyond the DJ world to see how other successful professionals were dealing with the downturn, I noticed a different, yet similar tactic; no longer did the average American expect to jump into one career at one company, spend their entire working life there and retire with a gold watch and pension.

Unless you’re a CEO or the owner of the company, those days are pretty much relegated to history. Instead, I noticed that the most successful people ran their own companies, and some had several. They would set up one company, get it going so that they didn’t need to have constant “hands on” control, yet it provided a steady stream of income, and then they’d look for another way to add to that income. They did this over and over, so that several tiny trickles, known as revenue streams, might combine to form a larger river of income! Like my book, and its accompanying seminar you might’ve seen at MBLV in 2009, “Supplement Your DJ Income… WITH DJ INCOME,” where a DJ business added more things to offer their clients, this variation expanded their pool of clients. So, for instance, if you’re a wedding DJ, but start a revenue stream that includes selling items on eBay, you’ve added far more than prospective brides and grooms to the pool of people supplying your income!

To read the rest of this article check out https://www.mobilebeat.com/emagscurrent/170/

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Stu Chisholm Stu Chisholm (46 Posts)

Stu Chisholm had been collecting music since he was about eight years old and began his DJ career in 1979. After much hard work, trial-and-error, and a stint at the Specs Howard School of Broadcast Arts, he studied the DJ arts with famous Michigan broadcaster, Bill Henning, at a local college. Stu interned at Detroit’s rock powerhouse, WRIF. To his radio and mobile work Stu later added club gigs at Detroit’s best venues, and voiceover work. He has shared his extensive DJ experience through his Mobile Beat columns, as a seminar speaker and through his book, “The Complete Disc Jockey: A Comprehensive Manual for the Professional DJ,” released in 2008.


Filed Under: Business, Everything Else, Issue #170