Acting : 12 Business Skills Actors Must Have by Peter D. Marshall

1. Brand Management: Managing an actor's brand involves managing their public image, deciding which roles to accept or decline, and ensuring that their career choices fit with their long-term goals. A well-managed brand can help an actor's marketability and influence in the industry.

2. Business Skills: Actors need to have a good basic business sense to manage their finances, negotiate contracts, and navigate the administrative aspects of the entertainment industry. This includes understanding industry standards and practices, as well as maintaining financial stability.

3. Contract Negotiation: Understanding and negotiating contracts is an important skill to ensure fair compensation and working conditions. Knowledge of industry standards and legal terms empowers actors to advocate for themselves and secure beneficial agreements.

4. Entrepreneurial Mindset: Actors often need to approach their careers with an entrepreneurial spirit, treating themselves as a small business. This includes identifying new opportunities, taking calculated risks, and finding innovative ways to create and market their work, such as producing independent projects or leveraging digital platforms to reach new audiences.

5. Financial Management: Beyond basic business sense, actors should be adept at managing irregular income streams, budgeting, and planning for taxes. Understanding how to save during high-earning periods and manage lean times is essential for financial stability in a fluctuating industry.

6. Legal Awareness: Actors should have a basic understanding of entertainment law, including rights related to intellectual property, contracts, and royalties. Being legally aware helps actors protect their work, understand their rights, and avoid potential legal pitfalls that could arise in their careers.

7. Marketing: Actors need to effectively market themselves and their skills to agents, managers, casting directors, and potential employers. This includes building a professional brand, creating a strong online presence, and networking within the industry.

8. Networking: Actors should actively network and build relationships with industry professionals to enhance their career opportunities. Networking can lead to auditions, referrals, and collaborations that advance an actor's career.

9. Public Speaking: Strong public speaking skills are essential for actors, not only for performances but also for interviews and other public appearances. Being able to articulate thoughts clearly and confidently in public settings helps actors build their brand and connect with audiences and industry professionals.

10. Self-Promotion: Actors need to be proactive in promoting their work and achievements. This includes regularly updating their portfolio, showreel, and résumé, as well as using social media platforms to share their successes and stay visible in the industry. Effective self-promotion helps actors stand out and stay top-of-mind for casting directors and industry professionals.

11. Time Management: Effective time management skills are crucial for balancing various aspects of an actor's career, including rehearsals, auditions, performances, and personal commitments. Properly managing time ensures that actors can meet their professional obligations while maintaining a healthy work-life balance.

12. Understanding the Industry: Knowledge of how the entertainment industry works is crucial for navigating a career as an actor. This includes understanding the roles of different industry professionals, staying informed about industry trends, and knowing how to adapt to changes in the market.