Never forget that rock n roll is a business too.
Being in a band is all about fun and sex and drugs and rock n roll isn’t it? That’s the dream and why so many people get into bands but that is not always the best way to treat it. Of course there should be a lot of fun and enjoyment from playing music and being in a band but there can be a lot of money invested into getting a band playing gigs and making music so there has to be some consideration into making this money back.
If a person set up a small business they would want to have fun and enjoyment with it but that wouldn’t be there only consideration, they would run it like a proper business. This means they would consider the cost and expenditure of it all and then decide what is best for them. Some bands may decide that it is worth to lose a little bit of money on a gig or two to help build their name up and get fans on board but this can’t last forever. Given that most new bands don’t make money right away, they will be subsidized by their other earnings and not too many people can afford to throw money away. This means that bands need to look for gigs where they at least break even. If a profit can be made then that’s great but a balance between making money and the rock n roll spirit has to be made.
It can also help a band to have a business-like approach when it comes to arriving on time and having a professional attitude. Rehearsal rooms and recording studios cost money to hire so arriving on time will not only give you more time to make music but it’ll save money being wasted. Losing five or ten minutes here and there from rehearsal times may not seem like a lot but it all adds up and can cause financial problems for a band.
No one is trying to suck the fun and excitement out of being in a band and yes, most people in a band don’t want to work in an office like environment but having the ability to treat being in a band like running a business can help bands make money quicker.
I refer out a bunch of the business side of things. My coaching deals with personal development, relationships, health and wellness, money, time, goal setting, and balance while moving ahead with your band life.
Filed under: Lessons, Money Management | Tagged: business, music business, musician coach
