Hi Shaun,
Time to put on my COO and coaching hat (yes, I have a daytime job too) here.
Back in the days, companies could make a 5-year (long term) plan, a 3-year (mid term) plan and a 1-year (short term) plan and just slug along at making the plans work. Today, 2-year plans are considered (extremely) long term plans. Short term plans are measured in months rather than years.
Business models change rapidly. Basically what any company should be doing is getting a clear grip on what their current business model is, whether it fits today’s “new” economy and make up new business models for possible near future changes, the “what-if” exercise. Let’s say a year ago, while comfortably making money with 3 gigs a week, you had asked yourself “what-if … the clubs start cutting back as a result of the crisis” and you had forced yourself to start making new business models based on that scenario. You wouldn’t have had to implement them, but they would be ready for this moment that has now arrived.
This is what makes succesful companies in this day and age, the absolute skill to anticipate the major threats to their current business model and working up alternative business models for when they need them. This gives them the ability and flexibility to act fast and decisively, without skipping a beat (pun intended), should a new situation occur.
As a DJ in today’s marketplace you are a company (1-man, but nevertheless) and you have to act accordingly.
And you don’t have to just do what-ifs, you can make businessplans for new markets (let’s say you do clubs but can branche out into weddings or corporate events), new skills you could acquire (let’s say you don’t scratch, but what could your business model look like once you do), totally new fields (can you get into regular radio work for example, could a succesfull online radio station you set up be the ticket) or even parallel jobs (perhaps organising your own events).
Work out a business model for each and quickly find out what you need to make it work or perhaps if it’s really not for you. Google “Business Model Canvas” and I am sure you will find this one-page approach quick, fun and very enlightening. It takes perhaps an hour to do a model, so it’s not like you’ll be doing it for weeks. And it’s an exercise you can do everytime a what-if pops up or an innovative idea hits you.
So, no ready to roll answer from me this time, but hopefully a new way to look at your “predicament”. Just think of it as an incentive to embrace a new way of doing business and get yourself fully ready to be a hit in the “new” economy.
Good luck!
.
