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Digg It - 5 Paths To $100,000 Per Year Part 3: Mac Daddi's Way
Welcome back to my little documentary (or moc-umentary as I prefer to call it). We are now on Part 3 in a 5 part series exploring the lives of five fictional artists who are all racing to a six-figure income with very different and skewed styles. Though the cast-of-characters in this moc-mentary are indeed fictional, the techniques are not. These are the same skills that independent artists like you use day in and day out to survive and thrive in th
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
e new music market.
Last time we were together I introduced you to Fast Freddie who had a Fanatical Fan Club but really didn’t take the time to develop any other skills. In spite of his inability to sell many CDs, and his pitiful booking schedule, Freddie still managed to bring in a six-figure income.
This time we are going to take a look at the next of our five artists on his quest to make $100,000 a year. Today you’ll meet MacDaddi, who is a gra
Last time we were together I introduced you to Fast Freddie who had a Fanatical Fan Club but really didn’t take the time to develop any other skills. In spite of his inability to sell many CDs, and his pitiful booking schedule, Freddie still managed to bring in a six-figure income.
This time we are going to take a look at the next of our five artists on his quest to make $100,000 a year. Today you’ll meet MacDaddi, who is a gra
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
phic designer and hardcore rapper from south Philly. You’ll see how his constant craving for new merch helps him to arrive at his $100k.
So lets start the camera rolling…
[Scene Three, Act One] Camera opens on one MacDaddi, A Philly rap artist with street cred and mad design skills.
MacDaddi’s Merchandise Mania
We find MacDaddi hard at work stirring up a decent following in the South Philly streets. His success is due in part to his connections
So lets start the camera rolling…
[Scene Three, Act One] Camera opens on one MacDaddi, A Philly rap artist with street cred and mad design skills.
MacDaddi’s Merchandise Mania
We find MacDaddi hard at work stirring up a decent following in the South Philly streets. His success is due in part to his connections
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
on the street and his penchant for designing tons of new products for his crew to wear. Part of what his fans love about him is how he ties his philosophical truths into his rhymes. Mac, as his friends call him, basically has a philosophy on everything but specifically on art and science of merchandising.
In his own words his philosophy goes like this: “When my people are stirred by my mad beats and soulful rhymes I find that they want to take acti
In his own words his philosophy goes like this: “When my people are stirred by my mad beats and soulful rhymes I find that they want to take acti
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
n of some kind. What I did is, find a way to channel that action into picking up my creations. This all works in a circular or ‘symbiotic’ system - the more products I have on the streets the greater the awareness there is about me. This greater awareness builds buzz, which in turn grows my crowds, which in turn sells more merch. Its as simple as that.”
For all of his philosophical depth Mac has not yet discovered the inherent value of gigging. So
For all of his philosophical depth Mac has not yet discovered the inherent value of gigging. So
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
unlike our first subject Gidget, Mac doesn’t really focus on getting himself booked into better gigs with more and more new faces. Instead he much prefers to spend his time behind his computer screen with a nice cup of Earl Grey tea and his recently upgraded graphic-design software.
As far as booking goes - Mac really performs only two to four “hit and run” gigs per week. He calls them “hit-and-run” because they are usually quick sets for parties a
As far as booking goes - Mac really performs only two to four “hit and run” gigs per week. He calls them “hit-and-run” because they are usually quick sets for parties a
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
nd local clubs with no set up or sound checks. Mac just goes in, grabs the mic, does his thing, sells his merch and gets out so that he can get back to designing stuff. All told Mac’s gigs even out to about 3 per week. He does some promotions but not much more than emails and mass text messages to notify his fans when he has a gig, consequently Mac Daddi only gets crowds averaging 100 people.
According to “Twiggy,”(Mac’s pet name for his computer)
According to “Twiggy,”(Mac’s pet name for his computer)
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
e made $39,000 a year from his gigs alone.
To see how Mac’s computer figured this out is truly a thing of beauty. Mac wrote a special program that has Twiggy ask him random questions in a conversational format, and then from his conversations he is able to determine the profitability of Mac’s business ventures. If you could have seen what Twiggy did behind the scenes you would have seen that Twiggy took the total of Mac’s crowd size, which is 100 p
To see how Mac’s computer figured this out is truly a thing of beauty. Mac wrote a special program that has Twiggy ask him random questions in a conversational format, and then from his conversations he is able to determine the profitability of Mac’s business ventures. If you could have seen what Twiggy did behind the scenes you would have seen that Twiggy took the total of Mac’s crowd size, which is 100 p
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
eople and multiplied it by his gigs per week, which are 3. The computer then multiplied that figure, which is 300, by the $2.50 per head that Mac gets as his average fee or split of the cover charges and drink sales. The calculations at this point are $750 per week directly from gigging. Next Twiggy took the $750 and multiplied it by the total number of weeks in a year, which is 52, and arrived at a yearly total of $39,000.
Ok, back to the story. M
Ok, back to the story. M
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
ac has one distinguishing business asset that makes up for his lack of fervor in the gigging department: he designs some of the most incredible merch you have ever seen. Actually his merchandise is so “dope” that on average 50% of his crowds will end up buying something from him.
Now, the break down of the sales works out to this:
Each week Mac sells on average 63 of his CD “Don’t question MacDaddi”- which received great reviews in the undergroun
Now, the break down of the sales works out to this:
Each week Mac sells on average 63 of his CD “Don’t question MacDaddi”- which received great reviews in the undergroun
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
zine, Bounce. The CDs cost him $2.50 each create and manufacture. This includes the cost of a studio equipped with the most expensive keyboards and samplers you could want, and one cheap microphone for vocals. This leaves Mac with a profit of $9.50 per CD. When multiplied by the number of sales he has per week (63) times the number of weeks in a year (52), Mac Daddi’s grand total is $31,122 a year in sales from his newest CD.
Twiggy has been so ki
Twiggy has been so ki
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
nd to keep up a running total for us, which is currently: $70,122 from CD sales and gigging.
Mac – in his never ending design spree – just came out with his latest creation the “Represent” t-shirt, which he sells for $15.00 each. They cost him $6-a shirt for the blank shirt plus printing which leaves him a $9 per shirt profit. Twiggy calculates that he sells on average 8 of these shirts per gig. He multiplies the 8 sales by the $9 per shirt profit,
Mac – in his never ending design spree – just came out with his latest creation the “Represent” t-shirt, which he sells for $15.00 each. They cost him $6-a shirt for the blank shirt plus printing which leaves him a $9 per shirt profit. Twiggy calculates that he sells on average 8 of these shirts per gig. He multiplies the 8 sales by the $9 per shirt profit,
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
and then by Mac’s 156 gigs per year (3 gigs per week times 52 weeks a year), for a net profit of $11,232.
Twiggy’s running total is now $81,354
Since he is always coming out with something new, Mac also has some older shirt designs that he sells a few of here and there. Since they are not “new” designs Mac feels compelled to discount them to $12 each. The cost to print is the same as for the “Represent” shirt, so Mac’s profit per shirt is lowered
Twiggy’s running total is now $81,354
Since he is always coming out with something new, Mac also has some older shirt designs that he sells a few of here and there. Since they are not “new” designs Mac feels compelled to discount them to $12 each. The cost to print is the same as for the “Represent” shirt, so Mac’s profit per shirt is lowered
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
to $6. Twiggy has figured out that Mac sells on an average 4 of these older designs per gig – which in all truth are less than six months old but Mac is a merchandise maniac after all. When multiplied by his 156 gigs per, year these additional shirt sales bring him $3,744 per year.
Twiggy now computes the running total to be $85,098
Just like the t-shirts, Mac has four older CD titles that he also discounts because the beats are not as fresh as h
Twiggy now computes the running total to be $85,098
Just like the t-shirts, Mac has four older CD titles that he also discounts because the beats are not as fresh as h
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
s new material. His selling price is only $10 each. The good thing with these crusty old recordings (most of them less than a year old) is that the production costs are now paid off, so Mac’s cost is now down to $1.50 per CD. That makes his profit a reasonable $8.50 per CD. Twiggy finds that Mac sells on average 10 units total between the four different titles. Twiggy knows that 10 units multiplied by Mac’s 156 gigs per year, multiplied by the $8.50
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
per CD profit nets him $13,260 per year.
Twiggy’s new Running Total: $98,358
In a shocking revelation one late autumn evening, Mac came to the realization that he is a very good-looking character. Consequently he decided to add autographed glossy photos to his lineup of merchandise. Now even though Mac knew how good he looked, he was still surprised at how well these things sold. Mac found that he was able to get on average 5 people a night who w
Twiggy’s new Running Total: $98,358
In a shocking revelation one late autumn evening, Mac came to the realization that he is a very good-looking character. Consequently he decided to add autographed glossy photos to his lineup of merchandise. Now even though Mac knew how good he looked, he was still surprised at how well these things sold. Mac found that he was able to get on average 5 people a night who w
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ould pay him $2 each for a photo of him posing next to his rich uncle’s Lincoln Navigator. The photos cost Mac $.50 each to reproduce, and net him a buck fifty each. Twiggy did the math by multiplying 5 sales per gig times 156 gigs a year at $1.50 each. All told Mac realized a $1,170 yearly income from sale of his autographed 8x10 glossy.
Running Total $99,528
The last Item on MacDaddi’s merch table are buttons that were originally designed to go
Running Total $99,528
The last Item on MacDaddi’s merch table are buttons that were originally designed to go
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
n hats and jackets but his crew likes to pin them on the seat belt pads of their rides. Mac is able to sell an average of 3 of these per gig. Half of the sales are from customers who smashed their last button when they shut the door on their seatbelt. But Mac doesn’t mind the repeat business because he makes an average of $1.50 from each button he sells. [Note: he sells the buttons for $2 each and his cost is $.50, which is $1.50 profit per button].
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
Mac sells an average of 3 buttons per night which when multiplied by his 156 gigs per year brings his yearly profit from buttons to a whopping $702.
Twiggy adds that to the running total of $99,645 and arrives at a final yearly income of $100,230 for MacDaddi’s Merchandising Mania.
There’s the MacDaddi way to handle business. Not bad for a rapper with some design skills, or is it a designer with some rap skills?
[Editors Note: Mac was last seen
Twiggy adds that to the running total of $99,645 and arrives at a final yearly income of $100,230 for MacDaddi’s Merchandising Mania.
There’s the MacDaddi way to handle business. Not bad for a rapper with some design skills, or is it a designer with some rap skills?
[Editors Note: Mac was last seen
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
behind his computer designing up his latest line of products - hats with the logo off center so that the logo is facing forward when they’re worn sideways. Good luck Mac!]
Next time we’ll take a look at Randy’s path to $100k. Randy is a recording nut. He records 2 CDs a year, plus all his live performances, music videos and even behind the scenes documentaries. We’ll see how Randy’s recording ready attitude pushes his income to the six-figure mark
Next time we’ll take a look at Randy’s path to $100k. Randy is a recording nut. He records 2 CDs a year, plus all his live performances, music videos and even behind the scenes documentaries. We’ll see how Randy’s recording ready attitude pushes his income to the six-figure mark
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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