Steve Miller said:
Dude,
First off I don't consider Djing rocket science. I don't hold it up there with computer programing either. I don't think it is going to make me a billionaire, although I make a comfortable living at it.
Steve, every legit trade is worthy...as long as the participants are willing to approach "it" with respectful esteem.
I'm puzzled as to why you continue making denigrating comments about DJing.
Rocket science is ROCKET SCIENCE... DJing is DJing...
How about turning the statement around. Rocket Science isn't DJing. There are set parameters of physics in play that can be mastered with mathematic equations. Pre-defined, repeatable equations that achieve a desired result. Learning the formulas is only limited by the capacity of the user imagination for application.
If DJing isn't rocket science...then why are there so many lousy DJs screwing up someone's event? Everything that we do can be reduced to a series of electro-chemical reactions to stimulation.
Which underscores a fundamental line in the MDJ business between talent and business acumen.
Running the legitimate business can be more challenging.
I applaud your success at surviving on gut instinct. However, suggesting that MDJs should throw caution to the wind and use gut instinct because it worked for
Steve Miller could lead many astray.
Knowledge is power...no matter how you look at it.
Steve Miller said:
BTW my formal education stopped in the 8th grade, I am neither proud nor ashamed of that fact, it is just the way it is.
Okay..?
You mentioned your 8th grade education on more than one occasion. Why? You keep throwing out there for what reason? Sympathy, marvel, pity...acknowledgement?
If you believe that your education ended in 8th grade, then you are truly ignorant. However, I believe your restatement of this "fact" is a mis-guided ploy.
It appears, as though, you have issues with educated people. Why?
Steve Miller said:
Apparently you are a very large multi-op on the other hand I am a very small multi-op. I grossed $122,000 last year from DJ, karaoke and rentals, I don't have the net yet because my taxes aren't done yet, but looking at the year before I should end up with a taxable income of around $80,000.
Steve, how many events did you handle last year?
Steve Miller said:
I know I want less money going out than I have coming in, that has always been my goal. So far I have met that goal each year I have been in this business.
It is called common sense. The house I live in is paid for free and clear (no mortgage). All of my vehicles were paid for in cash (no loans).
Steve, commendable goal. However, common sense...is not common. If it were...there would be no fools.
I also believe that if you were to start you business today, many of the successes that you've enjoyed thus far could not be achieved in the same manner.
Steve Miller said:
Apparently you need formulas to run your business and let you know if you are putting money in the bank, me I just use a pencil and subtract what I spend from what I make, what is left over is called profit it is either there or it isn't.
You need a formula to discover what you should charge, me I use the market minus my cost and time, what is left is again profit.
Steve, C'mon..."use a pencil and subtract what I spend from what I make" is a formula in and of itself. In fact the very same formulas used reactively as opposed to proactively.
If you have truly applied the methods that you have suggested you could have potentially wasted thousands that could have been saved for retirement through pre-tax planning.
Steve Miller said:
(meaning that you keep all 18 running at least 3 times a week)
Steve, curious...
This arbitrary number of 3 times per week was set by...? Why so few...? - or - Why so many?
JoeChartreuse said:
I am in full agreement that the target price should be realistic and profitable, but I also believe there should be some flexibility.
Joe,
I don't believe that I'm suggesting an absolute. In fact, by recognizing potential, you have greater freedom to make more flexible decisions with greater returns.
If you knew which stock would peak when and how high...wouldn't you focus your attentions in that area?
Better yet, would you wager the "table limit" if you new when the next blackjack were going to land in front of you?
Had my mission been to define a specific price...I would have asked for people to openly share their results. Only self-reflection on what has been and what could be.
JoeChartreuse said:
There is no reason at all that quality should suffer. I don't buy cheaper products, I buy quality products from a less expensive source.
Joe,
I understand your position, however, there are MDJs that give about as much consideration to ancillary quality as potential brides do to their entertainment choices.
Buyer BEWARE...perhaps.
However, when claims are made that tout equal specs and qualifications, who is to blame when the end result does not produce the promised result?
http://ethics.tamu.edu/ethics/shuttle/shuttle1.htm
On January 28, 1986, seven astronauts were killed when the space shuttle they were piloting, the Challenger, exploded just over a minute into the flight. The failure of the solid rocket booster O-rings to seat properly allowed hot combustion gases to leak from the side of the booster and burn through the external fuel tank. The failure of the O-ring was attributed to several factors, including faulty design of the solid rocket boosters, insufficient low- temperature testing of the O-ring material and the joints that the O-ring sealed, and lack of proper communication between different levels of NASA management.
The lowest priced solution turned out to be the worst solution...
Going with their gut...thinking that they could get by...
JoeChartreuse said:
I don't know enough about other DJs/Karaoke Hosts to hazard a guess, but anyone who enters into a business venture without the proper tools is in for a STEEP uphill climb. However, the tools are a sharp mind and the willingness and ability to USE it. Though I am an EE, I was doing electronic design for a major company BEFORE I began FORMAL training in electronics- just had a knack for it...
Joe, predisposition is always helpful. Willingness to use one's mind is vital to success.
I'm curious. Do you find yourself more or less creative with electronics after honing a knack into a qualified and recognized accomplishment?
I’m also curious if you are receiving greater financial rewards after turning a knack/hobby into a qualified and recognized accomplishment?
