Another post on budgets?! ... of course! I shit you not, money is a biggie why people succeed and fail in the arts. I've jotted down 50ish "Tips" already... a dozen deal with dollars and sense.
Everyone new to running a business eventually comes to the same realization. In the beginning we are very accommodating and understanding of peoples financial situations... after all, we're typically working with friends and family, and there's so much going on in the background we're sensitive to. We want to help... we believe in what they're doing and we want them to succeed! We want to be part of it... They just need a little help to get things off the ground... money is just tight right now. ... just right now. Or so we thought... Next go around, money is still tight. Next go around, they're broke. Next go around, they're just looking to do something simple, as cheap as possible. Huh? Eventually the new business owner starts to catch on... especially those in the studio field... as they sit in the middle of 10's of $1,000's, or possibly a few $100,000 worth of investment... not to mention the time (years) put in so far learning the craft. (Wait a second... I found a way to invest in what I do because I believe in what I do... what is stopping you from investing in what you do? Oh, you're stopping you... I should have a burrito for lunch.) This realization usually happens mid conversation, during the budget talk... soon after their pre-budget topic disclaimer... something along the lines of "Well I'm broke right now... I had to get my car fixed/I'm moving/wedding/vacation/lost my job/just got a new job/pet was sick/new gear/children/member changes resulting in fewer people to contribute financially/student loans/etc." Sometimes they just flat out say they're broke... no reason in particular. This is my favorite... it pretty much says "Straight up, I don't want to pay (you) anymore than I have to." Listen... nobody cares you're broke. ... well nobody cares you're broke unless you can't pay your bills! (lol... *tear*) Don't take this personally... but understand how it reflects on you first before simply thinking it'll help make it more "affordable" for you. So many bands play this card and it just tells people you don't know how to raise or generate funds for your business. You haven't committed yet to doing things for real. If you've been in a band for 4+ years and still haven't figured out how to raise funds... I'll put it to you gently. You are sooooooo fuckin' screwed. Screwed because you'll never have the cash to properly get a project off the ground (again... recording, touring, merch, promotion, etc). Or screwed because if someone does step in to take over those concerns, they'll definitely take more than the lion's share of any rewards... and you'll still be broke. It was their investment after all, right? ... choice sure seems a lot easier now, eh? Wanna see how long someone has been in business? See how quickly they defend what their time is worth. Wanna know how well a business is doing? See how easily they defend the value of their product. They'll gladly wait until you can afford it... just like everyone else they currently deal with. They know their current market value. Let's put the shoe on the other foot... think about how so many promoters and venues treat you. ... and you wonder why you're getting paid bread crumbs, if paid at all for playing live in the early stages. If we're approaching this as professionals, it's with the idea the end product will generate income. If we're doing things right, you'll make more off the songs than someone charged making them. If a record cost $100,000 to make, quick iTunes math ($100,000/$7 per album = 14,286 sold to cover expenses)... so 15k albums to recoup... that's not very many if you're thinking big. Sometimes it takes a while, but with the right steps, with the right product, it will eventually show a return. That's why we think of them as investments... trying to go cheap just shows short-sightedness. I hyphenated that because I felt like it by the way. These days you definitely need to have the mindset and show the confidence you're in it for the long haul. It's going to be tough, but don't bother playing the "broke" card. Nobody cares. - Mike
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Mike Langford - Official BlogBeing 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! Categories
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