Setting Goals for Your Business

By Jim Snack

Each year set new goals for your magic business.  Set goals for the number of shows you will do in each market that you serve.  Set a goal for the average income per show and your total gross income for the year.

Be realistic and build upon your past successes.  Don’t expect to get a million dollar contract performing in Las Vegas, when your experience during the previous year was limited to doing $500 school assembly programs.

Specify exactly how many shows you will need to do in each market you serve, as well as how much you need to make on each show in order to reach your target gross income for the year. 

I find it helpful to set weekly and monthly goals.  For example, let’s assume your goal is to book $10,000 worth of shows each month.  That means you need to book $2500 worth of shows each week, or $500 per day.  Furthermore, if you want to book only 10 shows a month, your goal should be to book one $1000 show every other day.

Post those targets over your desk or in your day planner as a daily reminder.  Being constantly reminded of your goals will keep your mind focused.  Whenever I’ve done this, I’ve always reached my goals.  Whenever I slack off and don’t constantly remind myself in this way, I fall short.

If you are just starting out, here’s a strategy I learned from another performer:  For your first few years   in business, set a goal to double your gross income each year.  If you gross $10,000 in magic your first year in business, shoot for $20,000 in year two, $40,000 in year 3, $80,000 for year 4, and so on. 

With proper planning and focused activity, you should be able to reach those goals in your first few years; it gets very challenging after year four!  At that point you will have a base of business built, and can now focus on slower, more sustained growth – probably more like 20% per year. 

By your fifth year in the business, you should be grossing at least $100,000 annually.  If not, take a serious look at your business model, because you are not really building a full-time business.

**NOTE:  For information on Jim’s fabulous course, “Success in Magic,”  Click Here

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