I'm currently earning my business degree in school while I am acting. Acting is obviously my number one, and as I was thinking of ways to support myself, I thought, why not put my business degree to use?
My dream is to open a boutique (small-scale) while I am still acting, until I could financially support myself soley through my acting career. I could set my own hours, have others run the shop, etc.
So, anyone out there...is this dream crazy? Please let me know your thoughts about this!
I am also in the process of finishing my bachelors degree in business. I was thinking of starting my own business too while acting, but I've heard it's nearly impossible. Starting a business, even if small takes more time than a 9-5 job.
I would like to hear what others think of this though.
Your business degree will come in handy whether or not you start your own business. You need to manage your acting career as a small business. I'm sure you aware of this but starting a small business is brutal, and most new boutiques in LA are closed within a year. The start up capital might be put to better use attending classes, workshops, assembling your reel, etc.
An outside sales job is a pretty good job for an actor. You can schedule your own days and everybody's happy as long as you make your quotas.
Yeah, that is what I'm leaning towards realistically. I just don't want to have a waitressing job or bartending when I put all this time into a business degree, but then again that's what a lot of people are having to do whether they are acting or not unfortunately.
Sorry, but the above is complete fantasy. I own two small businesses.
If you are talking a real retail store it could easily be all consuming and drain you dry financially. The hours, the inventory, overhead, the labor costs, flaky employees, shoplifting etc., etc.
I assume you want to make a profit which means you have to pretty much do everything yourself. Retail can be hell. As Trent said it is WAY more than 9-5 and it's all on your head.
The learning curve is high, but you could do an e-commerce store as an actor. Overhead can be very LOW, you sell stuff when you aren't home, and can ship it at midnight in your pajamas.
You have to find a niche also not easy. Get a book on it and start it while you are still in school. It could be clicking when you are done. Maybe you could even get school credit for it.
I have a small online store that brings in about $20K a year net. I run it myself for fun as a sideline to my main business.
Chester's idea is very good.
ACTORSHELPER, can you please enlighten us HOW you started your two businesses, where you found them and the capital for them. PM me if necessary.
I also just graduated, not with a business degree but I see the value of having a decent business. You may have to work hard but you have to work hard regardless. Atleast there's flexibility when you need it because you're in control.
Yes, I agree with Totallycool, actorshelper. If you could give us any pointers, tips, anything about starting up little businesses like the ones you have, that would be so helpful! I would love to hear more about how you came to own your two small businesses.
I used to have my own business for around 6-7 years... I worked in affiliate marketing as a webmaster and worked from home. Overhead was LOW (only hosting, internet, advertising accounts and miscellaneous costs)... When things were good I was making over $12,000 - $13,000 a month...On average around $10k... While spending around $500 - $600 maybe $700 on biz expenses... However, I was doing the same thing over and over and it didn't work anymore for the niche I was working. I don't really want to go into what "type" of niche I worked in but the internet changed and made some of the products I sold "too accessible". When it was good it was good; there were times when I was receiving so many checks I was too lazy to even cash them and had thousands of dollars worth of checks laying around on my coffee table. My deposits were so large (over $10k) that my bank froze my account a few times for suspicious activity (transactions over $10k tend to do that, especially with the new anti-terrorist laws, banks have to file a suspicious activity report).
I don't have my own business anymore; I have a corporate job now but I get to work from home and work whenever I want so it's pretty much like being my own boss. I only have to go into the office once a month for a 1 hour meeting. It's still in internet advertising. How did I get to work from home? I simply told them I wanted to get into acting and was moving to L.A
If you want to know how I started my affiliate marketing business; well it was time consuming and would take up too much time if you were pursuing acting. I basically lived in front of the pc and barely left my house; I was in front of the pc 7 days a week. However, once I figured out the business model that worked for me I could get away with working 3-4 hours a day while sustaining my income. I had passive and recurring income from previous sales and web pages up that were bringing money in. As a matter of fact I am still receiving checks but it died down a lot...
Everything I learned was from doing research online, reading webmaster forums and trial and error for years before I started making a lot of money. Anything you need to know can pretty much be found online.
I think that having an online business is a really good option for actors. I feel that there are a few problems with it though. The first is that obviously it takes a while for your business to do well. For affiliate marketing, you should be thinking that it will take around 6 months to completely replace your current salary (6 months to start making 2,000 per month). This is average of course, but once you get to 2,000 per month it usually takes off from there and you could be making much much more. The second problem is an emotional one. Starting an internet business or starting affiliate marketing takes a lot of work. You don't necessarily need a lot of time to do it (maybe 2-3 hours a day), but you need to be committed. You need to do it everyday, and it often gets uncomfortable and stressful. You will have days where you are in a funk and you don't want to do anything. After all of the hard work though, your business can then be automated and outsourced so you don't have to work as much. But to get there, it can really be emotionally taxing at times. And this is on top of all of your auditions. A final problem I would say is settling. After your business takes off, if you are making good money from an internet business and you don't have to put that much work into it, you may feel like settling. You might go travel or even sit around and do nothing. It may sound weird, but it is truly a reality. When you are working at a restaurant, since it sucks so much, you feel the need to commit to your acting so you can find work and get out of the terrible job. With an internet business that is successful, not so much.
I'm a comedian/actor born to a character actor who put 6 kids through college acting. About 4 years ago, my oldest son was ordered to live with Dad.
As a result I had to stop touring. I had to replace that missing income. I built an online business and it's doing well. I put a lot of time into it, but I schedule my writing and performing locally and still get out to do corporate comedy.
As a result, in the middle the recession, I was making a decent living with my online business, selling my products and affiliate products. I found a lot of super useful resources that helped me get the business off the ground. I topped 6 figures in my second year. Still not as much as I was making on tour, but I was able to keep the house!
The business did distract from my comedy at first, but I am happy that I was able to do something from home and NOT punch a clock!
Hi, I'm an indie producer and in between jobs I work from home as an internet marketer. This is a great way for you to support yourself while working on your craft. Don't give up! I was in your shoes once. Visit this site and register, this could be the right opportunity for you.
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