Product and Artist Management It’s Time To Do Better

In today’s blog I want to talk to all artists. Regardless of your craft, whether you are a music artist of any genre, an actor or a manager of creative professionals I want to challenge you to consider this one thing. Ask yourself, “Can I be relevant without understanding my position in the industry?

The entertainment industry is the forerunning influence, next to media, for most of the growing adults in the 21^st Century. With the advancements of technology it has become easier to self-publish, independently release projects and to get an entertainment project to the masses through online media. The age of downloads and Internet sharing of media has changed the pay scale, royalty payments, and also popularity rating for up and coming artist and actors. These new developments have created a new breed of people dream bigger and no longer believe that it’s a long shot to break into music, film, or acting. As the opportunities expand, which is great, it has created a new mentality that hinders the productivity of a creative professional desiring to take their art mainstream. The industry has been invaded by artists who believe, “I can do this all by myself.” This is a dangerous road to walk as a creative professional and it’s important that you re-think how you are seeking to launch your career.

In 2010 I started my own record label where I signed three artists, launched two publishing houses, and began working as a major event planner in the east coast. Although I was attaining some success I realized that the main ingredient that I needed to succeed was not in place. To maximize my skills as a manager I recognized that there was a need for education and structure to reach my goal. I immaturely implemented my vision without the proper tools. I fell into the 21^st Century creative professional mentality that I could do it all on my own.

Let’s start with artists; the naked truth is that many creative professionals of the 21^st Century are lost in translation. As an artist within the industry, your primary goal is to be a great artist. Instead of trying to perfect your craft and handle your career, consider bringing on a manager to help elevate you to the next level. A manager is needed for an artist or actor to find work and opportunities advance in their career. A manager understands the business component that enhances your career and has the proper connections to help you reach you objectives as an artist. The goals for most artists are to make money, have their art recognized, seen or heard and to be famous. To achieve these goals, artists need to have the real knowledge of how the industry works from a business perspective as well as the inner workings of the organization they’re within. In short, artist if you’re going to have a strong career you need a stellar management team that can work with you to let your craft be heard and seen by the world.

Now to the managers, you too cannot do it alone. Just as an artist needs you, you need artists. Learning to work together interdependently is the key to your success. Build a solid integral working relationship with your artists. Understand their goals and be committed to bring your knowledge, skill and contacts to their artistry to see your team succeed. You success is predicated on the success of your artist.

I learned through the premature launch of my business, that as a manager and record label owner I had a responsibility to invest in my education of the entertainment industry. It’s not enough to wing it, you need to develop your skill and be what an artist needs. They entrust their careers to you, that’s a great responsibility and you should approach your role from that perspective. Like the artist that needs to be surrounded by management to succeed, you too need to surround yourself with professionals that sharpen you and make you a great asset to your team.

Investing in you as a manager adds value to your role and career. Creative artists need to know that they need us as we need them. The truth is that a career in the entertainment industry is hard one to establish and maintain. The success of both artists and managers hangs on understanding how the entertainment industry is ran and the best strategies to keep creative artists relevant.

I ask this of my readers, during the month of March evaluate you effectiveness as a creative professional. Artists its time to take a deep dive into your career and ask yourself these questions:

·      Can hiring a good manager in the field I am pursuing further my career?

·      What would good manager based on my career goals bring to the table?

To those managers that are reading today’s blogs ask yourselves I also want you to evaluate where you are in your career. Ask yourself these questions:

·      Have I been the best manager I can be for my existing clients?

·      How can I add value to my role as a manager for the advancement of the artists I represent?

As an industry, it’s time for creative professionals to challenge themselves. No more doing it all alone, acting independently like a lone ranger. Embrace the power of a team and recognize that to get where you want to go, you have to do better.

Negotiate Your Way To The Top

As an inspiring artist, one of the most powerful business tools to get under your belt is the power of negotiation. Learning how to negotiate with others is the key to building successful business partnerships and despite what you think, you can’t reach the levels you desire as a one man or woman show.  As I approached the Negotiation course, my goal was to gain a better understanding of negotiation tactics that will enhance my ability to close deals for my company.

Learning the art of negotiation is something that most artists and creative professionals have failed to conquer, therefore they typically walk away from their entertainment industry career feeling slighted.  The dominant characteristic of a skilled negotiator is that they consider the negotiation from both sides. A good negotiator simply wants to win; a great negotiator desires a win that is beneficial for both parties.

Here are three attributes of a great negotiator:

1)   A great negotiator has good research skills. This allows them to reach a realistic goal based on the information they have gathered prior to the negotiation session.

2)   A great negotiator is realistic. They recognize the realistic boundaries of not only their part of the negotiation, but anticipate the other parties boundaries and negotiates strategically within them.

3)   A great negotiator is an active listener. It’s important that a great negotiator doesn’t just hear what the other party is saying but is skilled in communicating what is heard back to the other party so that the conversation comes to a mutual agreement.

4)   A great negotiator asks questions. He who asks the questions controls the conversation in a negotiation session. Don’t be afraid to ask hard questions and tie down your negotiating party with questions like, “Is that correct?” and “can we agree on that?”

Throughout my experience this month, I have learned that fine-tuning my negotiating skills will allow me to become a better music business professional for you, my artist, clients and industry friends. I have been able to apply them to my real world experience while I have been negotiating deals with a local venue to host a weekly event. Understanding these four negotiating principles allowed me to enhance those conversations. I encourage all artists to begin using them to push yourself to the next level of your career. Remember, your dream is just a wish without action and faith…negotiate your way to the top!

Interview with an Entertainment Lawyer

I finally had a chance to reach out to the other gatekeeper to the key of success for my class, future business avenues, and my business entity.

The young lawyers’ name is Mr. Jack Krumbein, MBA, JD Attorney at Law. 

I was surprised how reserved he was when he came up to my table asking my name to be for sure that I was the man described in his early text. As I got up to shake his hand hoping he wouldn’t tell my nervousness I answered, “yes I am.” We sat down and with no time of asking how he was we were off with the interview as I put on my reading glasses to get in character with the questions I had to ask for my paper and for my questions as well to learn what and how the Entertainment Business of Music is operated with ways of negotiation to gain a win/win for both sides asking for what they want and what they need to feel that both parties are happy at the end of the negotiation.

I started with the usual question of the experience and background of Mr. Krumbein; which was a 20-year stretch in the music business in the Los Angeles area and it has sent him over 20 countries in the world before his law degree. He has been in Entertainment Law for a year now. He was ready to get started so I begin the questioning and I hope to all my readers learn some things that matter to help you understand that without a lawyer or a team of legal advisors you will probably be taken for all your hard work or either you will be working for pennies and thinking you suppose to be working for more. So enjoy the learning experience because you are whom this is for.

Question was:

When doing a distribution form of negotiation what is the best way of approaching the situation?

Answer:

Being professional, stay objective, and able to make provisions to make the deal happen. For the record, “remember that you are there to capitalize on what is behind the label with the distribution access.”

Question was:

How do you separate the people from the problem when you are negotiating?

Answer:

You cannot separate the person from the problem. It is all about making the deal for the client. You have to keep a good relationship and a good hypocrisy affect of getting the payday between both sides.

 Question:

How do you handle positional bargaining tactics?

Answer:

By enforcing issues of politics in the business, and staying away from take it or leave it deals especially those with no real leverage.

Question:

How do you handle dirty tactic such as tricks in negotiating?

Answer:

When the other side lies or use trickery just walk away from the table. Stay transparent and always have enforcement ability for clauses and money for outside sources like auditors to make sure that all agreements dealing with such goes as plan.

Question:

Give me an example of a deal that you have done with your contracts  and they had to be mutual benefited?

Answer:

An 11 contract cycle that covers the money revenue stream, legal reservations that happen to enforce the contracts to have the issue resolved. He also included the fact that compromising is the center of negotiating. The example was putting the contract together within a team of a songwriter, artist, and producer; which help to make up a single work of art in the music business. Without one you can not have the other to make a whole work so the contracts must be able to back one up for the other to get what they want out of each person in their positions and interest.

Question:

What do you feel are your good attributes for being a good Entertainment lawyer?

Answer:

The ability to integrate business law and music along with dealing with Entertainment Finance, being a musician all his life, and being music business savvy allows him to build and keep relationships with his clients of past and present. I do want my readers to know that what you have read is me trying to be helpful to show artist that my blogs are to help and even get people to understand how serious I am to be the best Artist Manager, CEO, and small business owner for this industry of

Music. I hope that what you do learn from what I have been able to open your eyes

too is a plus not a negative because for any more of the knowledge that I was able to

acquire just like it was told to me all information costs and the ability to perform the

action of giving the client what they are interested in or asking a position out of something than pay the cost to be the boss of knowledge. 

The Financial Gain

This month I started by telling everyone that believes in wanting to make a change for your financial life to pursue your dreams in the Entertainment Business you must change your understanding of spending and saving. Well within my journey of this New Year the teachings of understanding of assets and a liability is where the knowledge is kept. The people that have been of my followings are spenders, shakers, and grinders. These are what the economist call, “the have not’s.” Is this really the fault of the spenders? The people that have been falsely hand peck? These are the people to be the means of boosting the economy during tax session and failure of paying loans because their means are less than the wants of man?

The answers to these questions are:

We the people are bound to the constitution but we are not bound by the tax laws that the minority has been scarcely gaining info to learn the real world of money. If there was a chance that any minority was an Economist, a learner of Accounting with and MBA Degree, or even a Dean of a Business College the masses should not be scared of death to pass on knowledge that can save the households of America. The teachings as talked about in the book “Rich Dad Poor Dad”(Kiyosaki,T.Robert).
 

The rest of my knowledge isn’t exactly for a price but I will say this:

The lessons that we all need are in a book and the will to take charge and open our eyes to get to our destination has been passed down to us. All that is needed is action the reading material and the wise guidance of a person to show the truth with the effect of Mother Teresa, Martin Luther King. Jr, and the movement of a man also named Donald Trump. Learn, save, and explore the realm that you are not too comfortable with and you too can be a millionaire.