In the dynamic world of DJing, growing your business, recruiting talent, and creating an unforgettable brand are essential steps towards success. Whether you’re a seasoned DJ company owner or just starting out, the journey to building a profitable and sustainable DJ enterprise is filled with challenges and opportunities. This post draws on the wisdom of industry titan Mike Walter, a celebrated educator and owner of Elite Entertainment.
Leveraging Industry Experience
Mike Walter underscores the importance of understanding the ‘why’ behind your business. It’s not just about booking gigs; it’s about creating a legacy and a company that thrives beyond your active years. Mike himself expresses that he built a company in order to still be in the DJ industry beyond his performing years (even if he might not be ready to call that quits just yet). To achieve this, focusing on sustainability and long-term planning is crucial.
Action Steps:
- Take time to consider your “why” behind what you do in the entertainment industry.
- Reflect on your business goals and the legacy you want to leave.
- Develop a strategic plan that includes succession planning and business sustainability.
Recruitment and Training: Building Your Dream Team
Finding and trusting the right people to represent your brand is a common concern among DJ business owners. Mike’s approach emphasizes the value of a patient and thorough training process, ensuring that new recruits are not only talented but also embody the professionalism and reliability your brand stands for. Mike makes the comparison to sports teams and how we really just cheer for jerseys, rather than specific players. This highlights the importance of building a strong team that represents your values well.
Action Steps:
- Implement a rigorous recruitment and training process to find and nurture talent.
- Create a ‘farm system’ for your team, allowing for growth and development over time.
- Get your DJs in training to your own events to really show them how you approach the position.
The Power of Networking Through Public Appearances
Networking and building relationships within the industry are invaluable for growth and sustainability. Engaging with other professionals, attending conferences, and being active in the community can open doors to opportunities and collaborations. Mike specifically talks a lot about his own experiences being an invited speaker at many entertainment conferences where he can share his knowledge from being in the industry for many years. These talks have allowed him to get in front of many new audiences, connect with fellow company owners, and be a great influence in the industry.
Action Steps:
- Attend industry conferences and networking events.
- Foster relationships with other industry professionals.
- Consider getting more involved at communal entertainment events and conferences.
Cultivating a Profitable DJ Business
Centralized Sales and Strategic Planning
A centralized sales approach can streamline your operations, ensuring that your talent can focus on what they do best. Regular sales meetings and strategic planning sessions help keep your business on track and responsive to market demands. Elite Entertainment focuses on a separation between DJ’s and sales people- with some of their talent being interested in sales, with others just wanting to be performers. Only mixing these roles when the personalities correctly match can be a great way to keep the morale of the team high.
Action Steps:
- Consider centralizing your sales process to optimize efficiency.
- Evaluate the roles of everyone currently on your team to be sure team members are correctly aligned with what they want to be doing.
- Hold regular strategy meetings to review performance and set goals.
Conclusion: Being a Position Player
In summary, Mike Walter’s experience puts an emphasis on understanding the ‘why’ behind your business, meticulous training, and the importance of building genuine industry relationships. In this chat with David Osborne, he underscores the foundational principles for building a thriving DJ enterprise.
By applying Mike’s lessons, business owners can navigate the complexities of the industry with confidence and strategic foresight, positioning their companies for sustained growth and lasting impact.