TIPS TO KNOW
ABOUT MUSIC BUSINESS
- SET GOALS- what is it you are
actually trying to do? Be the world’s best songwriter? Become a megastar
performer? Lead the church choir? Own a record label that records other
artiste? Sit down with a paper and pen. Define EXACTLY what it is in your
heart that you dream of. When you decide “what” you really want, the
“how-to-do-it” will emerge. Dreams and wishes are not goals until they are
written as specific end results on the paper. Goals have been described as
“dreams with a deadline”. Written,
specific goals provide directions and focus to our activities. “Write the
vision, and make it plain upon tables, that he may run that reads it”
(Habakkuk 2:2).
- HAVE A PLAN- what is a plan? A
plan is a written list of arranged actions necessary to achieve your
desired goal. Planning is the starting point for any dream or goal that
you possess. As the old saying goes: “No one ever plans to fail, but many
fail to plan.” Where are you? Plan your work, work your plan.
- PREPARE A MUSIC BUSINESS PLAN- a
good music business plan is the map to fulfillment of goals. There are
specific benefits to writing a music business plan. A well-thought out
business plan will: Clear the way for creative thinking; Pinpoint
strengths and weaknesses; Identify obstacles and problems; Expose hidden
opportunities; Set proper priorities; Coordinate your marketing program;
Take the guesswork out of budgeting; Allow for meaningful review and
revision; and to attract investors and secure loans.
- HAVE A DATA BANK- this is an
important list you must compile. Once you have created one, maintain, and
utilize it properly. The names, contact information of your media
contacts, music industry insiders, and anyone else who has a general
interest (business or otherwise) in you. A data bank can become a
tremendous asset to anyone who realizes how to use it to its maximum
potential.
- NET-WORK! - Networking is the
process of meeting people (also known as contacts), either through a
contact that you initiate or through an introduction by a third party. You
need people. Your future is connected to people, so develop people skill.
Success requires people. You will never succeed without networking with
many different kinds of people. They may not be easily accessible. You
have leave the comforts of your home or office to reach them and achieve
extraordinary success.
- DEDICATION- it takes tenacity to
succeed in the music business. If you are able to persist through thick
and thin it is very likely that great things will happen. Be totally dedicated
to it.
- PREPARATION- the quality of
preparation determines the quality of performance. Great artistes invest
hundreds of hours of practice before a concert. They know that the quality
of those many grueling hours of practice will prepare them for greatest
performance. Preparation time is never wasted time.
- PROMOTION AND PUBLIC RELATIONS –
how are you going to promote your product? What are the stories behind
your work? How do you plan on penetrating a dense media culture with these
stories? And what “affinity partners” will you link up with to mutually
expand your visibility? To advance in the music business you must fully
utilize the media. This includes all magazines, newspapers, radio,
television, and the Internet. Have you heard the expression; “out of
sight-out of mind?” you need to be the exact opposite of this! Stay in
sight and in the minds of as many people as often as possible. Utilize the
media. Promote yourself.
- PROFESSIONALISM- If you don’t take
your music business and your career seriously, no one else will either.
Present yourself and everything you do as one who knows and deals with the
facts of his chosen profession. Be professional, Rehearse, Rehearse, and
Rehearse. Think about your image. Dress accordingly. Don’t send mixed
messages. Practice your attitude to the audience.
- SYNERGY- synergies occur on all
levels in the music business. Musicians team up to multiply their efforts
and move their career in an upward direction more quickly than going it
alone. Traditionally, musicians joined with “professional” teammates like
management companies, high-level booking agents and established record
labels. Record companies also “merge” in order to acquire additional
copyrights, new ideas and hopefully, market share. E.g. Sony snatched up
CBS Records, and BMG purchased both
- PATIENCE- impatience is costly.
Your greatest mistakes will happen because of impatience. Most businesses
that, do so because of lack of preparation and time. Great businesses do
not happen overnight. Take time to grow into your business. Be deliberate
with projects. Become a “long-termer.”
- OWN YOUR NICHE- Niche is an
architectural term referring to a special place that’s designed to display
or show off an object of some kind, like an ornament, that’s placed in a
recess of a wall or arched area of a room. Finding your niche will set you
off from others who do something similar and drew the best possible
attention to you and what you can offer. Don’t try to be everything to
everybody!
- EMBRACE CHANGE- don’t be afraid of
change. Change is a big part of the reality of music business. Take the
business environment- it is constantly changing. New competitors, New
products, and New technology. Any business that ignores these facts is
doomed to collapse.
- KEEP LEARNING- don’t be arrogant
by assuming that you know it all, that you a monopoly on the truth. Always
assume, that you can learn something from someone else.
- ATTRACT ATTENTION- learn to
attract attention. Spend your energy on attracting attention. You must attach
your name and reputation to quality, an image. Image can be characteristic
style of dress, or a personality quirk that amuses people and gets talked
about. “A Name Without Fame Is Like
Fire Without Flame. There Is Nothing Like Attracting Notice At Any Cost”
- BE PASSIONATE - passion is power!
You will never have significant success with anything until it becomes an
obsession with you. An obsession is when something consumes your thoughts
and time. You will only be remembered in life for your obsession.
- MOTIVATION- reward those who help
you succeed, carefully examine the benefits you offer to others. Who needs
your products? Why do they need it? What problems will your product solve
in their life?
- EVERYTHING
BIG STARTS SMALL- Great achievement requires a willingness to begin
small whatever you possess today is enough to create anything else you
will ever want in your future. Think for a moment. A six-foot man began as
a tiny embryo in a mother’s womb. An oak tree began as an acorn. Be
willing to begin small. Start with whatever you have.
- PEOPLE! PEOPLE!!- Music biz
involves people. Your goal/dream is connected to people. E.g. Lawyers need
clients; so does Singers need Musicians. Salespeople need customers. Start your “People-List” today. There
are two kinds of people in your life: 1. Those who already know that you
have something they need, and 2. Those who do not yet know you have
something they need. Your “People- List” may include the music industry
practitioners, media personalities, relatives, neighbors, etc.
- RESEARCH - you must know your business well enough to be successful. Research your industry; find out who are the leaders? What products and services are there? What does it take to brake into the market? What market niche can you exploit?
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| Femi Oyewumi |
