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What can the World’s Best Investor Teach Us?

I’ve been fascinated with the stock market for as long as I’ve known about it. I ran a “dummy portfolio” competition against classmates when I was at school and then when I was finally able to, bought a few stocks on my own when I had a little spare cash. I’ve had my shares of disaster over the years and a few big wins, “ten baggers” as they are sometimes called.

These days I’m a fan of value investing rather than speculation, buying slivers of successful businesses rather than gambling on what a share price might or might not do. And as a value investor I am of course a fan of Warren Buffett, known as the worlds greatest investor, the Sage of Omaha. The shares in Berkshire Hathaway he started buying up in the 1960’s for $7.50 are now worth a staggering $250,000 each.

Buffet’s investing principles, based on the work of Benjamin Graham, involve a set of criteria for any business he invests in. If any one of the success criteria are missing, he probably wouldn’t bother.  One of these criteria, is the principle of the Moat. To be successful the business must have  some form of “unbreachable Moat.” These can be of different types, but a couple of them relate directly to our world, the complex world of forging a career in magic.

The Brand Moat – One of the intangible moats is the power of the brand. A good brand is hard to copy. It makes it hard for competitors to muscle in on your territory. Great magicians develop that for their business. Some examples –  David Kayes “Silly Billy”, at his peak charging far more than the average entertainer in his market. Steve Cohen in the same city. Siegfried & Roy, carved out an empire with both intangible and physical moats. The Illusionists franchise is doing the same thing. Solo performers like Derren Brown, Pop Hayden, Jon Stetson or Raymond Crowe all have that strong brand. You know exactly what you are getting. Is your image and brand clearly defined?

The Switching Moat – Another moat that Buffett looked for, was businesses with sticky customers. The cost for them to switch to another company is high, in terms of learning curve, time and money. A great example here would be the software product AutoDesk. Tricky to learn and once installed in  their customers business, few change away from it, allowing them to charge appropriately.

Magicians can use this principle too. Getting to be the “preferred  Performer” at a venue for instance. They suggest you to their clients, knowing that you are easy to work with, have security clearance etc.  The regular gig at a restaurant fits here too. You understand the way they work, the rhythm of the service, the demographics of the clientele.  They don’t need to re-train you each time. It’s a win-win. Trade show workers often develop long term relationships with their clients, becoming indispensible members of the team. Conference organisers are another sticky client. I have one client who uses me for 10 multiday events each year. My MC colleague Scott Williams here in Australia has just done his 14th year in a row for one particular client!   Have a look at your clients and decide who are the sticky ones. Or if you are targeting new ones, why not focus on those who could become so.

Which ever way you do it, work on your Moat, making it wider, deeper and filled with alligators.

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Further to the post of yesterday with exciting news that ShowBiz Blue Print is opening again, I had a chance to view the 4 videos that you can access for free via the site. Here’s just some of the information that is discussed!

  • Three ways to Triple the amount of gigs you close
  • How to write and speak to possible clients so they care
  • Why your current pricing formula will probably fail
  • A free tool everyone should have on their website
  • A ninja tool for finding out everything about your clients and prospects.
  • How the first paragraph on your website is probably shutting down opportunities
  • Why some of your Video footage is probably not helping you at all

This information comes from someone at the very top of his game, a genius at marketing, who has done thousands of Corporate shows, hundreds of TV appearances and now coaches and mentors performers around the world. Yes, you do need to provide an email address, but Barry uses the same newsletter service as me, ActiveCampaign, and an unsubscribe link is provided on every email, so you can opt out easily at any time.

If you are not happy with the amount of gigs you’re booking or are excited about taking your act to a new level … check it out HERE

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When people ask me how to get more work in the Corporate market –  Trade Shows, Product Launches, Gala Shows etc I always give them the same response.

“Listen to Barry Friedman and if at all possible take part in his BluePrint program!”

Now there’s good news and there’s bad news.

The bad news is that he only runs this once or twice a year.

The good news is, your timing is fantastic! He’s launching a new 10 week program very soon. The 11th time it has been run. Completely updated, revised and expanded once again.

There’s even more good news. He’s giving away a chunk of it for free. Yep, 3 or 4 training videos plus a live webinar all packed with great content. So even if you don’t think you could afford to take the course this year, check it out and get some info.

FULL DETAILS HERE

P.S.      Check out the testimonial page while you are there. I guarantee you’ll know some of these performers who have already invested in their careers.

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Pleased to announce that our latest book, MagicCoach 200 – The Very Best of MagicCoach Vol 2 is ready!

You can get the full details  HERE.

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I combined these Success Secrets into a handy downloadable pdf.

I guarantee you’ll learn something even if you’re not a Mentalist.

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Big thanks to –

Max Maven – Legendary performer, creator & writer
Craig Karges – Thousands of performances around the world on TV and at Colleges, Corporate Events and Performing Arts Centres.
Marc Salem – Star of TV and his own theatre shows around the world
Ken Weber – Veteran College performer & author of the must read book “Maximum Entertainment”
Chris Carter – A legend in the College market and at Corporate events
Jon Stetson – Consumate performer & creator of the unique ” Stetson Experience”

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