Archive for category Music Business
Seven Reasons Why You Need a Music Business Plan
Posted by in Music Business on November 5, 2011
A Business Plan is a formal document that can be used to map out the career path or business process the artist/musician/label wants to take in an effort to be established within the music business. It can also be used to obtain the necessary financial rewards for their efforts. So why is a business plan so crucial?
* It shows you what resources will be needed to make the plan succeed. You will not know how much you really need until you start putting together a cashflow forecast and other projections. It is easy for expenses to be hidden and masked over if a business plan is not in place to expose these hidden costs. Writing a business plan gives you realistic costs.
* It shows realistic time in which to achieve success. I once knew of a label who said it would sell one million albums in its first year of trading. My concern was they had no experience of selling even 1,000 albums. After thousands of pounds of investment they have still not made headway in the music business. The reason was that their timing was unrealistic. Your plan, if written well, will show you when huge success will be knocking at your door! Read the rest of this entry »
Don’t Ever Forget It’s the Music Business
Posted by in Music Business on October 3, 2011
Failure!
Eleven years ago, my music career collapsed. After a moderately successful 20 year run, and for reasons I did not understand at the time, I had to face the reality that my time as a musician was over and it was time to move on.
It was time to get a job in the…REAL WORLD!
Over the course of the following years working my way up the corporate ladder I discovered why I failed in the music business, why I was passed up for certain gigs, why I never had much money and why my phone didn’t ring even after I was told I was “the best drummer they had ever heard.” Read the rest of this entry »