A Jewel for Artist and Managers: DONT THINK OF YOURSELF AS AN ARTIST. Think of yourself as start up company. There are 6 things you need in order to have a good company: 1. CUSTOMERS - Fundamentally you need to start by identifying a prospective customer and an unmet need or desire that the market has not sufficiently addressed. (This means SELLING TICKETS YES YOU NEED TO SELL TICKETS) 2. PRODUCT - The product youre creating needs to directly answer the unmet needs or desires of your customers. 3. TIMING -Every market has a lifecycle, and every opportunity thus has a limited window of time before it expires. You have to be RIGHT ON TIME with you MUSIC 4. COMPETITION - What your looking for is indication of market inefficiency--that a market has not yet sufficiently met the (potential) need or desire for a solution. 5. FINANCE - How much up-front investment of capital (sunk cost) will this product require to develop? Do you anticipate large gaps in time between accounts payable and accounts receivable (working capital float)? THIS IS THE MOST IMPORTANT THING. NO CAPITAL= NO CAREER. 6. TEAM - If this is competitive warfare, how confident are you that your team can win the battle? Assuming you have limited resources, you should opt out of any battles you are not confident you can win, and preserve the resources for later opportunities. IF you cannot properly access all 6 of these you should be working towards this. This is MORE important ANY MUSIC YOU HAVE
Posted on: Wed, 29 Oct 2014 18:40:23 +0000
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