professionals and DJ company owners dont understand the
distinction between building a business verses creating a job for
themselves. While either route can be satisfying and fulfilling, it
is important to choose the path you prefer. The "rules" and
priorities are very different for each, as are the long-term results
down the road. Many professionals believe they are creating one type
of enterprise, but are actually creating the other. This can result
in frustraton and unexpected (and unpleasant) surprises when planning
for retirement or other significant events.
following distinctions are only tendencies and most business people
use a mix of all these traits, this list may help:
DJ business can be sold; your Job ends when you retire.
In creating a DJ business you are creating an enterprise that has
assets and a "life" of its own. Other people
can buy it, run it, build it up or merge it into their own DJ
enterprise. When you create a job for yourself, the enterprise
is largely dependent on your being there every day. You are the
primary asset, and when you leave, the DJ business has little
DJ business markets its inventory; a Job markets your skills.
A DJ business has an inventory of something... a staff of DJs,
something that can be counted and managed. A job markets your
skills and your personality. You are the primary inventory that
DJ business has a relationship with its banker; a Job has a
relationship with its clients.
In building a DJ business, you will typically need a line of credit,
a merchant credit card account and other services from your
bank. Youll get to know your business banker on a first
name basis. Creating a Job requires superb personal
relationships with individual customers and clients. You
probably know your clients better than your banker.
businesses develop formal accounting standards; Jobs are run out of
In developing a DJ business, other people (your banker?) will want
to see accounting records and expect them to use standard accounting
principles. In building a job, you want your paperwork to be
minimal, simple, and invisible so it never interferes with your
ability to serve your clients.
businesses develop policies and procedures; Jobs have standards and boundaries.
As a DJ business evolves it becomes more complex, requiring policies
about personnel, vacations, retirement plans and so forth. A
Job is largely about YOU. You have personal standards and
boundaries that help you run your life, and your work is a reflection
DJ business is likely to have a 5 year Plan; A job is more likely to
A DJ business Plan is likely to include a formal market analysis,
demographics, and marketing programs. A Job is more
likely to have a goal of increasing income.
DJ business is more likely to be incorporated; a Job is more likely
to be sole proprietorship.
As a legal entity, a DJ business is likely to have filed legal
papers, set up a legal headquarters, and have a Board of
Directors. Jobs are much more likely to be owned and operated
by a single individual or a couple of partners, sometimes very informally.
DJ business is more likely about strategy; a Job is more likely
People who enjoy creating a DJ business tend to be analytical,
calculating and precise in their decision process. People who
prefer creating their own job tend to enjoy the freedom, the
individuality, and have a "love" or vision about the work
they can do as an individual. The different approaches are
often obvious after even a brief conversation with the owners.
DJ business tends to require more financial investment; A Job may
require little cash,
but may have required we invest our whole heart. Creating an
enterprise that will continue as a profitable DJ business typically
requires some initial cash investment. Creating a home-based
job may only require a phone number, a checking account and perhaps a
business's have vacation pay, Jobs dont.
This is the "acid test" in many cases. DJ
businesses establish policies and have financial reserves for health
insurance, vacations and retirement. Most small DJ business
operations that are actually more like Jobs, have no formal provision
for these things. If the owner goes on vacation, the income
stops. Health insurance and retirement are the personal
responsibility of the owner/operator.
where you come out on these distinctions, and where you would like to
be, can clarify many other business decisions. Do you want to
hire employees? Should you incorporate? Can the DJ
business legally buy your car for you? These decisions can
often be made more easily once you understand the distinctions
between building a DJ business verse creating a job you love.