It never seems to fail that when talking to artist and their managers I hear the lack of a business, plan or budget. The music industry is a business which needs a plan and musicians should have a budget. I'm not sure if it's because they don't know or they're just plan lazy but I find few artist and managers who have some type of business plan on paper. When I ask what's the plan they say things like, I'm going to make a hit record and get signed". I think that's a great idea but how are you supposed to get that accomplished. While no two answers will be the same, it is the managers duty to develop a plan and see that it is executed.
The U.S. Small Business Administration along with a host of other sites can provide you with templates and step by step instructions to develop at least a basic plan:
- Create Your Business Plan
- Choose Your Business Structure
- Choose & Register Your Business
- Obtain Licenses & Permits
- Finance Your Business
- Loans, Grants & Funding
- Filing & Paying Taxes
These are just a few of the steps they will walk you through to assist you in getting you business from a to z. Your local, state and federal government can provide you with a host of information as well to get you on the right path. There are many free resources available on and offline to help your music career be a success. Just remember to get and keep your business in order because without it nothing else really even matters.
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