MUSIC BUSINESS....?
A MUST READ.
you either do music for the talent or business. However for the business the talent is also involved and sometimes while doing the talent you unconsciously start the business but a proper understanding of these will actually guide you to where you're going.
Business involves buying and selling which can be sub divided into several other elements geared to it's success such as promotions,branding,etc.
As a musician or content creator. You have to know the business aspect of what you are doing to make cash off it . For music the business is unending and no one is a monopoly of knowledge when it comes to music business,it is more complex than you think,however I will make it in simple terms while contrasting with real life activities.
1. A normal business should have goods or services they offer. So as a musician what is your goods or services. Well 90% should be your songs, beats for music producers, compositions for song writers etc. atleast you should have a good or service ready to serve the public for you to venture into a Business,that is why I laugh at musicians who don't have original compositions of their own.
2. A business should have a proper branding and uniqueness. This cuts across your name, color, style,type of service, logo,etc. So as a musician wanting to do music Business you also should have a proper branding. You can meet proffesionà ls to help you . Temitope Mo Harthrobe can help with that for a fee. Your branding should cut across your type of sound, your logo, signature, colors,dress style,etc. it's is the way the public perceive you even without seeing you. It should start from their mind.
3. A business should have proper marketing and promotional strategy in place. So a normal business do this through adverts, payiing influencers, TV shows etc. also you as a musician going into music business should be ready to pay for ads,do marketing and promote your content just like a real business.
4. A proper business should have a team of managers, support staff, etc. you as a musician should have a team too, get what you can afford from volunteering to paid. Ask your friends if they would love to join. You cannot do everything your self. When I was manager for attractive entertainment I signed a design deal with a graphic designer ,an affiliate marketing deal with some good marketers , a promo deal with DJs and radio stations. Start little maybe from one team member and grow. Be sure to define their roles and let them be active.
5. A proper business should be registered. So you as a musician try to register your brand. You can avoid registration by using your real names. Keep my 2 cents for the info. Meet a lawyer for proper guidance.however keep going for the main time until you can.
6. A proper business should have bank accounts in its name. So as a musician make sure your bank accounts reflects your brand, this is to gain trust . Or build your brand in a way people know what is the right account to send to. Monie point let's you customize your account to any name. Also try to have a dollar and PayPal account for streaming and outside the country funds.
7. A proper business invests and grow. Yea you too as a musician don't eat every money you get from gigs, events or shows. Try to save,invest in your self. Get a piano etc. I can't believe you eat every single thing. Damn.
8. A proper business cares about their clients and customers and try to meet their satisfaction. Yes you as a musician should care about your fans or supporters. Find a way to meet them, talk to them, like their post, reply them , accept their invitations. Also accept criticisms and advice . Check what they need and improve on them.
9. A proper business should have a portfolio.
This is every important. Keep record of your process and activities. When you meet people take record,get pictures. When you record in the studio take pictures too. Also. Get masters for all your projects not just mp3 files. Too many regrets I have seen artists who got had opportunities but lacking masters of their content they missed out. Having mp3 version of your content is not enough reason to show you own the stuff. Your masters should you own everything. Don't be deceived.
10. A proper business networks, collaborate and adjust. You too learn to network,meet other creators like you, collaborate where neccessary and adjust too.
20 comments and I will drop part two..
©VICTOR ONUZURU (VICPIANO)
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