The Building Wealth Blog
Stomp This! A Business Model with Style
January 2, 2009 by Mark T. Rafter · Leave a Comment
I went to see Stomp! with my family in Sacramento a couple of nights ago. One of those ‘we are not having enough fun in our lives’ moments where we went online and got 5th row seat 6 hours before show time.
Fantastic show (if you dont know what Stomp! is, here is a link to the official Stomp! website)
What I found to be even more interesting is the business model of a show like this. It’s the same as others like it (e.g., Blue Man Group, Cirque du Soleil) but it was the first time I really thought about it.
Sort of like a franchise except without all the FTC BS. It’s pretty simple and I suspect amazingly profitable:
Come up with an idea for a performance, make it happen, perfect it, do it many many times until it is viral or popular enough to expand, replicate.
Once the guys who started Stomp did the above and had a core group that performed and constantly sold out shows, they trained another cast so 2 performances could be ongoing at the same time. And then another, and another. Dont want to do too many or the market gets saturated. Pretty soon, they have trained the trainers and they just do whatever part of this business they want to.
Like branch out into the creation of a DVD. Or an IMAX special film. Etc. They get royalties from everything since it was their intellectual capital that started it all. All passive income sources. Scalable, expandable, etc.
Very entrepreneurial. Very nice.
Recession Proof Your Life Part 5
November 10, 2008 by Mark T. Rafter · 1 Comment
This is the 5th and final installment of my series on Recession Proofing Your Life. In this blog, I talk about where you really want to be going in the long(er) run and that is owning your own business, the statistically best chance for you to become a millionaire.
Part 5 – The Real Opportunity
In my wealth coaching practice (a hybrid of business and life coaching), I have talked to any number of people – peers and clients – who have said “losing my job was one of the best things that ever happened to me.” ‘Why is that?’ you might ask. Because it forces us to re-evaluate our job situation and, hopefully, the rest of our lives. We all too often get weighed down by “what is.” What we’re used to, the status quo, not rocking the boat, etc. Often, we attach far too much importance to a J.O.B. and rely on them not only for our self esteem, but as the focal point around which our lives are defined. Some people are lucky and really love their jobs. The last I checked, the percentages who claimed this mythical status was in the low 20% of those employed for someone else (the number goes up significantly for the self-employed). In general, being an employee turns out to be better than nothing (quite often a true statement) and the path of least resistance. In the current economic climate, the best job in the world could indeed be the one you have (last Friday’s unemployment numbers were the worst in years) so let me say this again: THERE IS NOTHING WRONG WITH HAVING A JOB. However, in my experience, the employee route is typically - there are always exceptions - antithetical to growth and keeps us from our full potential as human beings. Read more
Recession Proof Your Life Part 4
October 30, 2008 by Mark T. Rafter · Leave a Comment
This is the 4th of 5 parts in my blog series on Recession Proof Your Life. This segment contains the final item regarding the Best Job In The World (the one you have!) and how not to lose it. It has to do with a generally valuable and ubiquitous skill that can be used in all different areas of your life, learning how to handle conflict (something I could have done better at in any number of jobs I have had, by the way).
Learn How to Handle Conflict - Face it, the workplace is full of people not all of whom have you on their Christmas card list. The following few points will help you emerge intact from the high tension environments of general chaos, layoffs and the always present possibilities of interpersonal warfare should they arise. With the number of mergers already underway and more bank failures and challenges to come, there will be plenty of conflict to come as everyone scrambles to cover their own butt. You need to be ready for it. Read more
Recession Proof Your Life Part 3
October 29, 2008 by Mark T. Rafter · Leave a Comment
Part 3 of my 5 part series on Recession Proof Your Life contains some guidance on keeping the best job in the world … the one you have!
I will argue against that being true in the long run (see Part 4 of this series), but if you are currently gainfully employed, good for you. Let’s assume for the moment that you want to keep your job. This is generally a good choice, particularly in troubled economic waters.
There are 6 things you can do to have increase your chances of keeping that job. The first 5 are listed below. Item 6 is pretty long and will be included in Part 4 of this series.
- Add Value. This is a business.Your boss, and his boss and however far up it goes to the top are there because in theory, they are a part of a much bigger system that actually produces a profit for the owners/shareholders.If you can figure out how to pull it off, become indispensable. Know how to do things (expertise with a particular piece of software, machinery or relationship with a customer). Show that you can multi-task. Take on additional responsibilities, especially where there is the opportunity to learn (and become the expert: see previous point made above). Read more
Mark T. Rafter on the Radio at KBS
October 28, 2008 by Mark T. Rafter · Leave a Comment
A short while back, I was a guest on the Wayne and Jayne Show on KBS out of British Columbia (yes, there are people up there too… maybe they go moose hunting with Sarah Palin?).
I forgot to post this right after it happened but … better late than never.
You can listen to the interview on the their blog.
Free Financial Literacy and Business Training Courses
October 27, 2008 by Mark T. Rafter · Leave a Comment
This is a quick post to let anyone who is reading my blog to have access to this really cool blog posting that I found today. It is a collection of free resources/courseware (lectures, problems. white papers) from leading universities (MIT, Carnegie-Mellon, Columbia, etc.) on entrepreneurship, business and finances. They range from good, everyday guidance and info to more esoteric stuff which is of questionable value to anyone but a rocket scientist.
But, it’s all free and chance to get something from the leading educational institutions without selling your first born.
You can find it all at this entry from the Cultivate Greatness blog.
The Bailout is about YOU … like it or not.
September 29, 2008 by Mark T. Rafter · Leave a Comment
As I have said in the recent past, damned if we do, damned if we dont.
Congress has rejected the bailout of the Wall Street banks. The Republicans voted against the bill in even greater numbers than Democrats; the Minority leader indicated that emails and other communications by constituents was running nearly 100 to 1 against voting for the bailout….these guys are up for re-election and whereas they read about the rising unemployment rates back home, they don’t want to join that particular crowd.
The American people need to better understand what is going on here. Yes, it has been tagged as a bailout for the “Wall Street Fat Cats” that got us into this mess, and it smacks of that indeed. However, we are ALL affected by this =%@*!&@ mess! This is how the credit crisis get to YOU, the men and women on the street
- Banks loan money to companies, short term cash to buy inventory and supplies to support the products and services the company sells. Maybe it’s YOU that owns that company and can’t buy inventory for your Halloween store. Maybe it will be YOU that goes out of business next. Read more
A Letter to the United States of America
September 25, 2008 by Mark T. Rafter · 1 Comment
I am sending this communication to all members of Congress that I can …. I’d love to have anyone who reads this to chime in with their opinions.
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Dear Senator <salutation to my duly elected representative>,
First of all, I appreciate your participation in the current financial “solution” that is being worked out in Washington in response to the debacle that has been foisted upon the American tax payers by Wall Street.
I saw this coming years ago and have - fortunately - positioned my finances accordingly. Most people I talk to are not so lucky, seeing their net worth, their job, the buying power of what assets they still have, etc. all diminish or disappear.
They feel helpless. I am very knowledgeable about global economics, how the Federal Reserve operates (they being the source of the proposed $700B), how much of our debt is owned by countries that could ruin our economy even without this current disaster, etc etc … and I feel helpless. Read more
Entrepreneurship Is On Hold
September 13, 2008 by Mark T. Rafter · Leave a Comment
I’m serious … I’ll write more about this soon but the realization just hit me that the approach I have been taking with clients and in my talks to various groups about being more entrepreneurial may be less appropriate given the current economic climate.
I’m going to have to think more about this … stay tuned, check back soon, dont be a buffoon stay away from monsoons.
You don’t need a Weatherman to know which way the wind blows.
Indeed.
- Banks loan money to companies, short term cash to buy inventory and supplies to support the products and services the company sells. Maybe it’s YOU that owns that company and can’t buy inventory for your Halloween store. Maybe it will be YOU that goes out of business next. Read more
