In the next article in our Industry Insights series, SHIFTER’s Kevin Bourne says for talent and entrepreneurs, becoming “indispensable” is the key to making money in media and entertainment.
A lot of people are struggling, not making money in media and entertainment. Meanwhile, our favourite rappers have us all talking about getting a “bag”. For those who aren’t versed in hip-hop that means getting paid. It sounds flashy and vain, but it’s really about economic empowerment, and I’m here for it.
But one of the things that hinders people from getting paid their value is that they haven’t become “indispensable”. What does that mean? Becoming indispensable is about clearly communicating your value; it’s about identifying, establishing and communicating what you do better than anyone else. It’s about what makes you unique. Most people are terrible at communicating their value, what they’re best at, and what makes them unique so they get frustrated not earning what they feel they should be earning.
The truth is if there are other people out there who do what you do, at the level you do it, and for cheaper, you are dispensable and dispensable people never get paid their value. On the other side of the coin, the more indispensable you are is the more money you will make.
This is where conversations about “securing the bag” are premature. A lot of the rappers who talk about getting a bag have already established themselves as the best at what they do so making money through their craft is easy, but for everyone else, we still have to put in the necessary work to become indispensable.
If you’re in media and entertainment, either as a talent or entrepreneur, and aren’t getting paid according to your value, you need to go through the process of identifying and communicating your value, what you’re best at, and what makes you unique. If you need help becoming indispensable and earning more through your craft, let’s talk.
