Your Band Is A Business.
How many of you know that your band is a business?
But do you really know how to run it?
When you're in a band and you want to play out, record, promote and be that star, you know it takes a lot of work and money, right?
So you and your band get a gig to play at a local bar, the bar say's cool I'll pay you the door and you can sell your cd's too.
The bar is packed it's Friday and your selling cd's playing like rockstars, it all looks good with the money, right?
You end the show and it's time to get paid. the bar owner pay's you what is due and your mouth drops. you say to the owner, hey you said we would get the door!, he replies I did pay you the door, but you bought drinks for people and you drank, and I'm sorry that wasn't the deal.
First, off, you are a Business, not a " BAND "!, The money you make is " NOT YOUR MONEY " it's the band's money, 100% of it, you get 0% of that money, it all goes back into the band. WHY?
Well, you want to record, you want to tour, you want to promote and all the other things that go with a band ( business ). where do you think the money comes from, one guy in the band? No! it comes from the gig and merchandise you sell. and if you find a manager you have to pay them their cut and on top of that Tax's, gas, food, gear, and the list goes on. to start a tour bus cost you money and you never even got on the bus yet, even if you get someone to Endorse you, you have to pay that somebody back in some way. just because you see a check for a million dollars doesn't mean that's your money. out of that money is what you have to pay out, your bills, money that was fronted to you and the no see' ems... your profit might be $10,000 and then you gotta pay for your own life and your Own Taxes and the other band members in the band.
That's why most don't make it in music because they don't understand how to run it. When George Lucus was making StarWars he was deep in debt, but he kept putting all his money from other movies he was making into special effects because he knew that it would turn a profit and grow as long as he kept it afloat. He just sold that to Disney for 7-8 Billion. he did it because he knew that the money he made was not his money but his business's money.
So if you really want to be in a band and music, you need to understand that you are a Business and to be a success at it you need to look at it in that light. get contracts for gigs and not the door, get venues and not bars, and most importantly, get paid first, so no one has to pay for anything out of his or her pocket.
AND GIVE NOT ONE PERSON SOLE CONTROL OVER THE BANDS M-O-N-E-Y!