NAMM You Are the CEO: The Entrepreneurial Musician
“The Initiator” Annie Downs
The Music IndustryHas Morphed Music is now found in more places than ever before in history Musicians are working up front and behind the scenes at some of today’s most exciting companies The era of monopoly is beginning to fade in many areas of music and entertainment “New Ideas – New Tools – New Rules”
Companies Still Count . . .But Ideas Count Even More Ideas are the new form of exchange in today’s entertainment world Ideas that attract an audience are the foundation of new business Examples Funny or Die MOG Pandora
Why Think & ActLike a CEO? You are in charge of your future Challenging Exciting You will earn respect, money and status! Fly First Class!
The CEO Mindset Hungry for knowledge, not just information Can focus and achieve immediate goals Not afraid of hard work and more work Ability to motivate, inspire and lead others to help them succeed Ability to attract supporters (emotional and $) Can respond to, and take advantage of new situations, even when risk is involved
Mistakes & FailuresAre Needed Without experimentation, you will not become a successful CEO Use mistakes or setbacks to inform how you can improve your plan, process, product or service No CEO bats 1,000 -- you only need a few successes to build and sustain your career
CEO Success Stories Amanda Palmer, DIY Artist Benjy Grinberg, Label Founder Tish Ciravolo, Guitar company founder What did they know that you don’t?
CEO’s Playbook Take your passion and turn it into a business Learn how to: Leverage ideas & applications to . . . Create products & services . . . That will attract an audienceI Use audiences to help you refine your offerings – “crowd sourcing” – it really works! Be relentless in pursuit of success, as defined by YOU! (not the “industry”)
Brain Food forMusic CEOs Gerd Leonhard -- “Friction is Fiction” Seth Godin – “Permission Marketing” & “Poke the Box” Chris Anderson – “The Long(er) Tail” Malcolm Gladwell – “Outliers”Ignore feeding your brain at your own risk!
Music CEO“How To” Guides Peter Spellman – “Indie Marketing Power” Angela Beeching – “Beyond Talent: Creating a Successful Career in Music”
Music is “Information” Music is part of more business opportunities than ever before Music can provide a unique “signature” for a brand or band Music can be monetized in a multitude of ways in addition to a CD or download Internet radio, video games, TV and film syncs, music apps, customized music, commercials, value added music (T-Pain and Bjork apps), clothing with lyrics, etc.
Generating “Big Ideas” What do Amazon, iTunes and Sheet Music Plus all have in common? Develop a way to solve a problem, save time or money and you may be have a profitable “Big Idea” Big Ideas generate energy and heat and end up gaining support for their CEO
Three Steps towardsCEO-dom Set Attainable Goals Include a timetable, a way to measure progress and don’t be afraid to start with baby steps Craft an Action Plan Map out step-by-step what it is you will do to attain your goals. Include who else is involved, their roles and how your plans will be measured and adjusted as you progress Maintain a Constant Feedback Loop with Your Audience “Listen to your audience; and they will listen to you.” – Nile Rodgers
Create Your Own Start . . . “Starting a project . . .
“Let’s Talk It Over”– CEO Lil’ Wayne (Young Money Entertainment) This entire presentation can be found at www.hatschek.com/careertools Email questions/comments: email@example.com More reading on music careers “How to Get a Job in the Music Industry” by Keith Hatschek Includes chapters on networking, goal- setting, personal achievement, etc.