When I wrote my book, The Complete Disc Jockey, back in 2008, the economy was in a shambles. Economic 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!
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Filed Under: 2016, Business
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