Covid isn’t negatively affecting everyone in the entertainment industry, but some are left not knowing what to do now. If you’re that, this is that for you.
As I’m coaching entertainment pros thru this moment, I want them to thrive. I always want my clients to get way more from me than they pay me, so these are the three routes we go. Feel free to mix and match them too!
We are not heading for a return to normal
It’s important to note these strategies are based on my mindset that there’s no start date for everything to be as it was.
- We don’t have reopen dates
- Even when we get these dates, we might have to close again
- Reopen will not happen in one day. It will be gradual
- Reopening will not happen universally by state or city even; because individual businesses will have their own plans for when / how
- When things reopen, we don’t know if they’ll be at full capacity or what the stipulations will be
- People will not be the same. They will be differently cautious and have a different relationship to the world around them
- Companies will not be the same. They will be hedging bets for a while to prepare for any surprise economic overhauls that might occur
I think, without hoping for a “return to normal,” we will be in a way better place in one year. By July, 2021, we’ll have our feet more firmly on the ground, we’ll see the horizon more clearly, and we’ll be able to make plans.
So, we take this long view. Here’s what we do with the next year. If things get good before that, we’ll be in a great position.
Strategy #1 Chill
Actively deciding to do nothing with your career is amazing. Vacations are required for big thinking, big achieving, and big gratitute. Even if your vacation is only taking you to the scenic living room, letting yourself off the hook can have a big positive impact on everything — including your career. The best way to chill is to commit to it and find a focus in your personal life — are you going to do self-care, get heavy into relationships, work on your home, give yourself some grieving time, etc?
Don’t think of chilling as being lazy. Think of it as taking action.
Strategy #2 Big Pivot
Start right now in a new direction. Find an audience that you think has money to pay you. Start serving them. Learn more about what they need and whether they are a viable audience for getting paid. Keep learning and adjusting until you find your next career / business.
Hypothetical idea… Maybe you’re a live event producer, super good at logistics, organization, and legal. You see all your lighting pros being used by video production companies. You start connecting with them and helping them understand contracts and the logistics of their businesses. Take commissions on the work you arrange for them. You start building templates and infographics to help them with their business needs. You end up maybe setting up an agency for these technician companies.
Strategy #3 Beef Up
Use this time as a reset. You’re going to start your business all over again (not a new business) but a better version of it.
Most people in entertainment tumbled on in. Most people started doing a thing, then got more into it, then figured out how to make a living, then figured out how to improve, but didn’t start with a business plan and never had time to catch up.
Coming out of the pandemic, you can be a kid at a new school. What identity will you take on?
Beefing up can mean doing whatever you think will up your value when you come back. Practicing your craft, building on your experience, expanding your audience, changing your pricing structure, creating more stuff, improving your marketing, what-the-heck-ever!
The most helpful will probably be to figure out where your best work came from, and focus on only doing that kind of work.
Hypothetical idea… maybe you’re an actor and you look over your books. You realize “I’ve made 25% of my income from casting directors that I know personally.” You can spend the next 12 months multiplying your close relationships with casting directors by 5. It’s possible that you’ll make a good solid income in the next year.
Hypothetical idea… You own a theater. Corporations love using your theater for keynotes. You make on average $3000 / corporate booking. Your operating costs for the year are $100,000. You make it your goal to get 30 contracts signed by June 2021. Reconnect with your past bookers and serve them something (how about cheap zoom performances? How about tips from a theater pro about collaboration?) Reach out to other people like them and serve them. Build up a great alliance. All this stuff is not to cash in now, but to cash in next year. You’ve got a long game that’s gonna pay off big in several months.
This all assumes a long runway
All three of these strategies assume you won’t die of hunger in the next month. If you’re worried about money, I think it’s helpful to remember that just like the gigs, global finances will not be the same. Financial social status will not mean as much for a while, we won’t have as many expenses necessary, nobody will be expecting you to recover completely instantly from this.
Telling yourself you have zero money and resources right now is not going to improve anything for you.
Get rational and logical about how long of a financial runway you have and work to make stuff happen now!