Reinvest 50% of Your Cash Back into Your Acting Business

By Webmaster

  • Reinvest 50% of Your Cash Back into Your Acting Business

    Of course, each time you repeat this process, your career becomes stronger! Your power becomes stronger.


    (by Carmichael Phillips)


    (Photo by Ibrahim Rifath on Unsplash)

    No professional actor can be successful by being just a great actor. In other words, you can’t just be good at the “show” alone. You must also be good at the “business”. That’s why it’s called “showbusiness”. Every actor essentially runs their own small business, selling their talent as their company’s product.

  • Since every actor runs his or her own acting business, here’s an idea from the business world that also applies to the world of acting: Reinvest at least 50% of your earnings back into your acting business.


    Don’t book an acting job, get paid and then go on a vacation or a needless shopping spree. Instead, consider reinvesting the money back into your acting business…so that you can book more acting jobs!


    This should be a no-brainer, right? Well, sadly, it’s not. And for good reason. The life of a professional actor is complex, when it comes to compensation.

    An actor can labor for weeks, going from audition to audition, callbacks, acting classes and headshot photoshoots, while never receiving a paycheck. When they finally get a paid job and, therefore, receive an actual paycheck, it might be the first real paycheck they’ve seen in months!

  • Naturally, the first thought, upon depositing that paycheck is…it’s time to party! It’s time to do all the things you wished you could do all those weeks and months that you were not getting paid. It’s time to go shopping for clothes and shoes. It’s time to go on that vacation to Italy that you’ve been putting off. It’s time to buy an expensive gift for your spouse.

    But giving in to this impulse would be a mistake. Getting a large, much-needed lump sum of cash is not the time to go on a spending spree. It’s time to reinvest the bulk of that cash, at least 50% of it, back into your acting business.

    It goes like this: you book a job and use half for yourself, while the other half is reserved for things that can help you book even more acting jobs. Things like:

    • Brand new headshots
    • Brand new reel
    • New actor website
    • New acting classes
    • Gym membership to get into shape
    • Saving money, for times when money is short

    Of course, each time you repeat this process, your career becomes stronger! Your power becomes stronger. Your confidence becomes stronger. You have more tools at your disposal to increase your odds of booking more roles.

  • Can’t do 50%? Start somewhere!

    This is the essence of capitalism. A company opens up a store. The store becomes profitable. The company takes most of the profits and uses them to open up another store. Before long, the company has 30 locations and is much more stable and much more powerful than ever before.

    According to Kyle Taylor, the founder of the financial frugality blog, thepennyhoarder.com, he was able to build his small website into a million-dollar business by diligently reinvesting 50% of his company’s profits. Today, his company brings in millions of dollars, annually.

    “If you don’t put some of that money back into your business, you’re starving growth. One of your big goals is likely to increase how much you earn, but you’ll earn the same amount year after year — or only make small, incremental increases — if you don’t put a portion of what you earn back into the business,” said Taylor.


    “If you don’t put some of that money back into your business, you’re starving growth. One of your big goals is likely to increase how much you earn, but you’ll earn the same amount year after year — or only make small, incremental increases — if you don’t put a portion of what you earn back into the business”


    This same concept can be applied to the actor’s life. When you get into the habit of setting aside at least 50% of your earnings, and then use those earnings to reinvest in your acting business, your career, and your power, becomes stronger and stronger.

    And, if your financial situation is such that you cannot commit to reinvesting 50%, begin with $500, or $50, or $5. In other words, start somewhere! It doesn’t really matter how much you begin with. What matters is getting into the habit of earning money from an acting job and using that money to improve your chances of booking more acting jobs.


  • You Might Also Like:
    What is a “Booking Ratio”?


     

    Recommended Posts

  • Ad

  • A Farewell to Carl Reiner 

    A Farewell to Carl Reiner  Reiner became a force in Hollywood, thanks to his acting skills, jokes and creative ingenuity (by AM Staff)  (Carl Reiner in Ocean’s Eleven) We would like to bid…

    5 Basic Facts About Uta Hagen

    5 Basic Facts About Uta Hagen  “If you want a bourgeois existence, you shouldn’t be an actor” (by Tonya Tannenbaum) Uta Hagen was an American who rose to prominence, first as a successful…

    Memory vs. Imagination: Which Approach Works Best?

    Memory vs. Imagination: Which Approach Works Best? Actors have many different devices for achieving magic (by Tonya Tannenbaum) (Photo: Ben Sweet/Unsplash) How should an actor work-up the emotions needed to perform a scene…

    Kate Winslet’s Advice to Actors

    Kate Winslet’s Advice to Actors  Winslet’s main advice to actors: keep going!  (by Jim Webb) (Kate Winslet in The Reader) Kate Winslet is an English actress who first found fame when she was…

    5 Basic Facts About Tom Hanks 

    5 Basic Facts About Tom Hanks  From Forrest Gump to Mr. Rogers; memorable performance after memorable performance. (by Jim Webb) (Tom Hanks in Bridge of Spies) Tom Hanks is an extraordinarily versatile actor. …

  • Ad

  •  “I think the word “acting” is a bad word for what we do.” (Dennis Haysbert)

     “I think the word “acting” is a bad word for what we do.” (Dennis Haysbert) (Arranged by AM Staff) Do you consider acting to be the art of performing a character or the…

    5 Basic Facts About Viola Davis 

    5 Basic Facts About Viola Davis  Davis is the first black actor to achieve the Triple Crown in Acting (by Jim Webb)  (Viola Davis in How to Get Away with Murder) Viola Davis…

    7 Self-Tape Instructions Actors Often Ignore

    7 Self-Tape Instructions Actors Often Ignore Treat your self-tape like you’re baking a cake. Follow ALL directions and you’ll get a sweet result. (by Jim Webb) (Photo: Luis Quintero/Pexels) Self-taping was already the…

  • Ad

  • 5 Facts About Denzel Washington

    5 Facts About Denzel Washington The greatest African American male actor in the history of American cinema? (by Jim Webb) (Denzel Washington in Man on Fire) Is Denzel Washington the greatest African American…

    What is the “Pick-an-Eye Technique”?

    What is the “Pick-an-Eye Technique”? An unofficial name for a brilliant acting technique (by Jim Webb) You probably already know who Michael Caine is from all his many roles in films like The…

    3 Misdemeanors to Avoid on Your Acting Résumé

    3 Misdemeanors to Avoid on Your Acting Résumé Misdemeanors aren’t felonious, but they can still be problematic (by Jim Webb) (Photo: Niu Niu/Unsplash) When it comes to an actor’s résumé, there are differing…

    5 Basic Facts About Robert De Niro

    5 Basic Facts About Robert De Niro One of the most storied careers the entertainment industry has ever seen (by Jim Webb) His legendary roles, in various iconic films, have established Robert De…

    Netflix and Quarantine…and Watch Some Great Acting!

    Netflix and Quarantine…and Watch Some Great Acting! You can see lots of great, original movies, featuring some stellar acting performances, on Netflix (by Carmichael Phillips) (Photo: Freestocks/Unsplash) So, this Coronavirus pandemic has you…

  • Ad

  • 7 Basic Facts About Meryl Streep

    7 Basic Facts About Meryl Streep Here are 7 basic facts about the “greatest actress of her generation”: Meryl Streep (by Jim Webb) (Meryl Streep in The Devil Wears Prada) Meryl Streep is…

    Actor Stories: Geoffrey Owens’ Rise and Fall…and Rise Again!

    Actor Stories: Geoffrey Owens’ Rise and Fall…and Rise Again! Owens’ newfound fame has given his career a renaissance (by Jim Webb) (Geoffrey Owens) “I’m Geoffrey Owens and I am an actor!” That was…

    Actors Who Have Tested Positive for the Coronavirus

    Actors Who Have Tested Positive for the Coronavirus The acting community has not been spared from the destruction (by Jim Webb) Covid-19 is ravaging our public health system and the global economy. It…

  • Ad

  • Actor Stories: Molly Shannon’s 10-Year-Struggle to Beat the Odds in Hollywood

    Actor Stories: Molly Shannon’s 10-Year-Struggle to Beat the Odds in Hollywood How many years are you willing to dedicate to your dream of becoming a professional, working actor? (Arranged by Carmichael Phillips) How…

    Keep Your Actor Body!

    Keep Your Actor Body! Cut Down on Sugar to Stay in Shape During Quarantine (Todd Bruce) Coronavirus has robbed us of something many of us hold dear: our weekly or monthly trips to…

    Quarantine and Build

    Quarantine and Build…Your Acting Career! 5 Things You Can Do to Improve Your Acting Career While Under Quarantine (by Jim Webb) (Photo: Ani Kolleshi vu Dazveny /Unsplash) “It was the worst of times….

    Don’t Do These 7 Things When Choosing a Monologue

    Don’t Do These 7 Things When Choosing a Monologue Here are some things you should absolutely avoid when choosing your next monologue (by Jim Webb) Are you looking for a new monologue? Don’t…

    The Push Strategy vs. The Pull Strategy

    The Push Strategy vs. The Pull Strategy What if you, as an actor, didn’t wait for the market to demand your acting services? (by Carmichael Phillips) (Photo: Merakist/Unsplash) “My career began the day…

  • Ad

  • 7 Basic Facts about Stella Adler

    7 Basic Facts About Stella Adler Stella Adler left behind a powerful legacy, inspiring a who’s who of iconic actors (by Carmichael Phillips) Stella Adler (February 10, 1901- December 21, 1992) may have…

    “Tenacity is almost more important than talent” (Mark Hamill)

    Mark Hamill: ‘Tenacity is almost more important than talent’ What kind of person does Hamill believe should become a professional actor? (Arranged by AM staff) (Mark Hamill in Star Wars) Actor Mark Hamill…

    Don’t Panic! It’s Just a Redirect.

    Don’t Panic! It’s Just a Redirect. 5 Things You Can Do to Reduce the Fear of the Dreaded Redirect (By Jim Webb) Human beings didn’t always dominate the Earth. Once upon a time,…

  • Ad

  • Actor Stories: How Rashida Jones Almost Gave Up on Acting

    Actor Stories: How Rashida Jones Almost Gave Up on Acting ‘It felt like a waste of time to keep doing this over and over again’ (by Carmichael Phillips) Ok, fine! Rashida Jones’ entertainment…

    Christian Bale: “Don’t be a one-trick pony”

    Christian Bale: “Go for new tricks. Don’t be a one-trick pony” “Don’t fall back on your old tricks” (Arranged by Carmichael Phillips) (Christian Bale in American Psycho) In an interview with the Oral…

    5 Great New Year’s Resolutions for Actors

    5 Great New Year’s Resolutions for Actors Here are some great New Year’s resolutions you should strive for, if you haven’t already (by James Webb) We are a few weeks into the new…

    10 Reasons You Didn’t Book the Role You Should Have Booked

    10 Reasons You Didn’t Book the Role You Should Have Booked There are countless potential reasons why you didn’t book the role you thought surely you were going to book. Let’s just start…

    “Listen and React” (Michael Caine)

    Michael Caine’s Greatest Advice to Film Actors: Listen and React “Listening is really what acting is all about, for movies. It’s not like the theatre. It’s an entirely different situation.” “When I was…

    What is the “Repetition Exercise”?

    What is the “Repetition Exercise”? There are several objectives that the Repetition Exercise seeks to achieve. Chief among these is to increase the actor’s reliance on their instincts. (by Tonya Tannenbaum) The “Repetition…

    “Education is so essential” (Jake Gyllenhaal)

    Education is Essential “Education is so essential, because there’s no way of knowing what good material is, or knowing if a story is original, or knowing what makes a story original, or know…

    5 Basic Facts About Sanford Meisner

    5 Basic Facts About Sanford Meisner Though he died in 1997, his work continues to live on… (by Carmichael Phillips) Sanford Meisner (August 31, 1905 – February 2, 1997) had a profound impact…

    Load More