The Importance of a Business Plan

The first professional I reviewed is a professor at Loyola University in New Orleans named Brenda Joyner. She addresses the topic on why a business plan is necessary. Although it’s the beginning of a process to raise capitol for a business it’s a blue print. It shows investors that you’re serious about the business you’re attempting to start up. It give you respectability with the investors because its evidence that you actually took the time out to do your homework before presenting your proposal. A business plan demonstrates knowledge and awareness of what your doing. The benefit of having a fine tuned business plan is it increases the likelihood of getting the funding your seeking. Having one shows preparation and wherever you may go to raise capitol it gives off a sense of professionalism. That means the quality of a business plan should reflect. Being realistic and as accurate as possible in every section will lower the room for mistakes. Also including the potential risk in your business plan can assist the valid information. The second professional I reviewed is a professor by the name of William H. Crookston. He expresses the importance of having a business plan and why this step should not be over looked. Like your first child, if you can’t develop or write a solid business plan just imagine how your second child the actual business is going to turn out. A business plan is like a resume for your business. It shows a pervious track history and what you as the founder is capable of. It also gives potential investors a little insight on your intentions for a company from start to end at a certain point in time. A business plan helps them to figure out where your going and people are more willing to support you if you have one. It takes on the role as being a sale, financial and startup guide document all in one. With out one your blind folded just stumbling around in the dark.

Source:

http://www.youtube.com/watch?v=p71isDrdp6Q

http://www.artistshousemusic.org/videos/loyola+university+new+orleans+business+plan+seminar

Management Interpersonal Skills

The Artist Managers that have a great set of Interpersonal Skills are more appealing to an artist work with. It makes sense nobody wants to work with someone that’s grumpy and complains everyday. Negative energy can rub off on people in a good mood and create problems in a productive work environment. This can have a major impact on creative levels and affect the outcome of important projects. Mutual trust is first and foremost. If an artist and a manager can’t trust one another they don’t need to work with each other. The artists that a manager represents trust that their career is in better hands by accepting this relationship. The manager is responsible for all aspects of an artist career. The manager on behalf of the artist will make many important decisions and that takes a great wealth of trust. Communication is vital key element that can’t be taking lightly. After all, the manager primary job is to articulate their artist vision and make it reality. Without proper communication that job can’t be done effectively and leaves room for even greater error. The ability to compromise is another essential factor. Artist managers can only control so much and every offer presented may not always be exactly what you expected for your artist and you. This is where Opportunity cost comes into play acknowledging benefits over others. Taking a step back looking at the situation from different perspectives will allow a manager to find value in suggestions and opinions over a firm commitment taking them into consideration. Dealing with change is another one and it kind of go hand and hand with the skill previously mentioned. A manager must be able to adapt and overcome in every situation. Solving problems during at a moments notice is normal in the field of artist management. It’s like a weapon at the gun range. If your not hitting the target accurately you probably want to adjust the site post, aim and control your breathing. That same analogy can be applied for problem solving in the realm of artist management.

Source:

http://sydney.edu.au/science/uniserve_science/projects/skills/jantrial/interpersonal/interpersonal.htm

http://www.musiccareer.com.au/index.php?title=Artist_Manager

Making it happen behind the scenes

I like to refer to artist managers as the engine under the hood. They are the power horse of the operation. Artist managers stand in the shadows of their artist most of their entire career being the artist alter ego. That’s because it’s all about the artist and advancing them to the next level not the manager. Making the necessary moves behind the scene so that the artist appears to be perfect. If you are a jealous person then artist management is probably not the job for you.  It’s the type of job where as you only get attention and acknowledgement when you make an error. Most artist managers in the music industry that are successful have a team effort mindset with a humble attitude. The quiet storm it’s a secret race trying to get to the top and doing it quietly. Giving credit when credit is due is just a phrase in the profession of artist management. Many times fans of superstars listen to their favorite artist from childhood and never know who manages their career. When it’s because of the jack-of-all-trades these artist are able to maintain and have an outstanding career. In the past a lot of artist felt an artist manager was getting paid to do nothing. Also in the past many artist managers was vindictive and conniving. They would actually use the artist to get money. Once the artist discovered that out got token advantage of enough artists to become untrustworthy. Today more contracts are being utilized and enforced so the betrayal has decrease a bit. Although the work that the artist manager does is still a mystery for some people it is clear that they play a major role. The relationship between an artist and a manager must have trust and great communication in order to succeed its like a marriage so its always a working progress. 

Source:

http://www.artistshousemusic.org/videos/getting+started+with+artist+management

http://www.artistshousemusic.org/videos/artist+management