Straight up... there's a shit ton of money related topics so I might as well tackle one of the easiest to deal with.
Odds are everyone in the band have different levels of income, and just as important, their own list of expenses and responsibilities. Life costs money... but your band, which if you're reading this you're trying to run like a business, also costs money to get up and running and maintain... way more money than most of you think.
A common problem discussing recording budgets is the one person who basically goes "I can't afford that."
It's a band expense... not a personal one.
Is the band supposed to be held back because someone has a lower income or higher expenses? What if one or two people in the band can handle the financial investments/costs of running a band while the other two can't? Is that fair? Is that unfair? I can understand it's easier politically if everyone contributes equally but life rarely works out that cleanly... especially when there's this many people involved.
The way around this... have a serious sit down a few times a year to see where people are at financially. You're a band. You're somewhat all partners in a business. You have to have the money talk sometimes.
There are guys I've seem bank roll the entire project for years and guys who've said up front they can bring no help financially whatsoever.
Both are ok... just know that if and when money starts to come in, the ones who invested get to put their hands in the pot first (or at least have way more say regarding what to do with the money... this also applies to potential issues with private investors), while the ones who didn't invest/contribute need to keep their hands in their pockets.
Really keep in mind money equals votes/say in the band... and the band needs to be your baby. Whatever baby needs, baby gets. You'll see this is common among the hardcore folk in any passion... or vice.
That alone should motivate you enough to do what it takes, see the big picture, and make sure finances get dealt with. Don't cripple your band (aka business, aka baby) trying to set your budget according to whoever is able to contribute the least, regardless of the reason. If you are, this should be a red flag it's just for fun and not really worth investing in in the first place
Mike Langford - Official Blog
Being on both sides of the glass, I get the chance to wear many hats in the music industry. This is a place to share my thoughts, views, predictions, rants, stories and news!