Slow pokes finish last

11 03 2010

Slow pokes finish last. I’ve been developing a few business plans. I had found a great domain name that worked perfectly with every type of business idea that I came up with in the music industry, I’ve even been writing business plans and strategic summaries for classes that I have. It turns out in the time it took me to get some really solid ideas someone also found a liking for the domain name and now it’s owned by someone else.
Lesson for us all: if you find an awesome domain name that would work great for a website, just buy it. It only costs 10 bucks, buy it and if you don’t end up using it you can just auction it off to the highest bidder.





The New Music Entrepreneur | Small Business Trends

5 03 2010

The New Music Entrepreneur | Small Business Trends.

This article states some very pertinent trends in the music industry.  I’ve been thinking for quite a while after studying P2P services and how they are affecting the industry that the recording industry would change dramatically or simply keel over and die.

Music entrepreneurship and people with innovative ideas are what the music industry needs now.  No more are the days where the musician feels that in order to “make it big” he needs to sign a 30 page contract to some record label, there are completely independent bands that have sold 300,000 albums in the course of three years with no distributors and no record label.  (See: http://www.artistshousemusic.org/videos/entrepreneurship+and+the+future+of+the+music+industry for more on that.)

Everything is moving online, and moving to the individual people.  Home based businesses, small businesses, start-ups seem to be more and more common and the music industry is going the same way as the rest of the corporate world.  Independent artists are becoming independent entrepreneurs as well.





Music and Business

4 03 2010

I just had two interesting conversations with several different people about these two subjects. What I discovered is that they are two subjects that have a lot in common but don’t coexist peacefully with one another.

I spoke with my brother about business.  I showed him some ideas of businesses within the music industry that I wanted to start.  My purpose in creating those plans was to create a business that would help the music industry change for the better and also create a profit for the company.  He essentially told me that the ideas I had, while they may be good don’t really solve the problem because in his mind there’s no demand for what I was trying to create and it wouldn’t make any money.  After discussing it I saw that his point of view was for the most part true.

I also had a conversation with two friends of mine, musicians.  The one holds to the opinion that music is his love and passion and that he has accepted the fact that he will most likely never have a lot of  money.  The other friend was adamantly opposed to anyone going into music with the intent of getting rich.  I think they both important ideas that are central to a musicians ideology.  One of the points that they made was that to a true musician money isn’t the primary goal, it’s something that they need to survive and they would like to make money playing music, but if given a choice between playing for free and not playing at all, they would most definitely choose playing for free.

Another thing that I took from these very opposite points of view is that; business focuses a lot on profits, and the success of the company hinges mainly on the profits that they make, which makes sense.  Musicians judge success in a completely different way.  It has nothing to do with money, for that doesn’t measure success, it has everything to do with personal fulfillment.  A love of music drives them, and I think that my friend who was so adamant in not having money as a driving motive knows that too many people in both music and business often lose track of righteous motives in search of money, and the beauty of the art is lost in the search for music that simply sells.

In the end I think that entrepreneurs and musicians have so much in common.  Both of them create, build, innovate, work hard and can have fulfilling careers.  Many of them sacrifice immediate monetary profits at the beginning of their career in order to increase fan base/customer base, many of them work long hours for very little money in the hopes that either it will be 1. fulfilling or 2. lucrative.  But at the same time I think that true musicians don’t want to focus on business, for music is a creative process, and business shouldn’t interfere with the artistic side of music, for their motives and purposes are very different.