If we put a group of 100 disc jockeys in a room together, odds of them all having the same opinion on a topic would be slim at best. With that said, I think it’s a safe bet that most would agree on what it takes to run a successful mobile entertainment company. Many would agree that a lot of hard work mixed with extreme dedication and a little luck thrown in will improve the odds of running a successful DJ business.
I’ll take it a step further and submit “hard work,” “dedica- tion,” and “a little luck” will improve your odds of succeeding in preparing for many things you will face in your lifetime. Surely you would not get in your car and drive from coast to coast without a GPS system, road map, or solid plan that would get you from point A to point B? Why is it so many people are content to drive on “life’s highway” without a proper plan of action?
Can we agree that planning for your financial future is in your best interest? In September 2016, GoBankingRates surveyed over 7000 Americans and released data showing almost 7 in 10 adults (69%) had less than $1000 in a savings account. What would your response have been?
As a teen in the ‘60s, I knew I wanted to be a disc jockey despite my mother’s wishes that I follow in the footsteps of my father, a banker. Luckily, my dad’s keen financial acumen rubbed off on me and I learned many things that opened my eyes when it comes to money.
I knew early on that being a disc jockey was probably not the best career path to follow if I wanted to earn a lot of money. It didn’t take long working at my first radio station to know it was going to be a long road to achieving wealth. Every Monday I made a trip to the bank to cash my weekly check of $75 and deposit $5 into my savings account. My father had taught me the lesson of “paying myself first” which meant saving a little money out of each paycheck.
In an effort to increase my low radio income, I took my first club job in 1973 earning $3 per hour. That opened the door for me to start my mobile DJ company. I thought life was good when my pay increased to $12 per hour at my first record hop. I mention these lackluster income amounts to show that savings can be achieved regardless of how much or little money you earn.
Read the rest of this article and check out the full issue at http://www.mobilebeat.com/emagscurrent/177
Filed Under: Business, Personal Development
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