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Shepherd University May 2013


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Shepherd University May 2013

  1. 1. Thinking Different(ly)...The rare and valuable skills of musicianshttp://ewjensen.comeric@ewjensen.comEric JensenCornel School ofContemporary MusicMay 9, 2013
  2. 2. Berklee College of MusicJensen Sound ProductionsLiquid AudioEric Jensen
  3. 3. “I saw theangel in themarble andcarved until Iset him free.”- Michelangelo
  4. 4. “You can be the most creative softwaredesigner in the world. But if you don’t knowhow to make money, you’re never going tohave much of a business or a whole lot ofautonomy.”- Jason Fried co-founder and CEO, 37signals
  5. 5. You are the CEO ofyour career.
  6. 6. What is “business”anyway?
  7. 7. ...the process of creatingvalue in a manner that isprofitable and sustainable.
  8. 8. We are living in what’scalled a “value based”economy.
  9. 9. “The businesses thatcontinuously create the mostvalue for a market win.”- Cooper andVlaskovits,The Lean Entrepreneur
  10. 10. “To me there is really no such thingas ‘the music business’. It’s businessapplied to the field of music but it’sstill a business that operates in abroader socio-economicenvironment.”- Panos Panay, founder Sonicbids
  11. 11. “Musicians and artists fall into twocamps:There are those who want to besuccessful but see the artisticprocess as being incompatible withthe entrepreneurial process...”
  12. 12. “...Then there is another camp:They tend to be younger. Theydo not see an incompatibilitybetween the artistic andentrepreneurial.They are able tounderstand how one serves theother.”- Patrick Faucher founder, Nimbit - CIO, Presonus
  13. 13. How do musicianscreate value?
  14. 14. What can we learn bythinking metaphorically;studying entrepreneurshipand business practices inother industries?
  15. 15. How do our skillstransfer to otherworking environments?
  16. 16. What does it take tocreate a meaningful andsuccessful career?
  17. 17. Rule #1: Don’t FollowYour PassionPassion is a side-effect of mastery
  18. 18. Self-DeterminationTheory (SDT)AutonomyCompetenceRelatedness
  19. 19. Rule #2: Be So GoodThey Can’t IgnoreYou(Or, the Importance of Skill)
  20. 20. Career CapitalDeveloping “rare andvaluable” skills.
  21. 21. Deliberate Practice
  22. 22. Deliberate Practice
  23. 23. What if you identified keyaspects of your personaland professional life andbroke these down intoconcrete skills that couldbe learned?
  24. 24. Jeff Beal
  25. 25. Rule #3:Turn Down aPromotion(Or, the Importance of Control)
  26. 26. Rule #4:Think Small,Act Big(Or, the Importance of Mission)
  27. 27. Making a great product
  28. 28. Identify need/problemCreate an innovative solutionCheck business modelExecute
  29. 29. Artists often create the productfirst and then figure out how tomake money with it by Giovanni Gallucci
  30. 30. Segment-CentricProblem-CentricTechnology-CentricProduct-Centric
  31. 31. “Your product is only asgood as the problem it’ssolving and its suitability tothe segment.”- Cooper &Vlaskovits
  32. 32. Singer-SongwriterJonathanCoulton:“Code Monkey”- the anthem forgeek culture.
  33. 33. “Creating value” with musicCreativeCollaborationProduct orExperienceBusiness toBusiness• Sideman• Sessionmusician• Composer• Recordings• By-products• Performing• Teaching• Licensing/advertising• Businesspartnerships• Record deals
  34. 34. Learning to thinkmetaphorically
  35. 35. “Most people can’t listenmetaphorically.If you can learn to listen and readmetaphorically, youll find these wonderfulexamples all around you.You’ll be able toread (business) books and apply theirlessons to your music career. By doing that,youve just put yourself ahead of the 99%who dont.”- Derek Sivers founder of CD Baby
  36. 36. The Lean Startup:Build-Measure-Learn
  37. 37. MinimumViableProduct(MVP)
  38. 38. Validated Learning
  39. 39. Iterative, agiledevelopment(just in time production)
  40. 40. Amanda Palmer Sold A$20 T-Shirt Every 30Seconds Last NightUsing Chirpify +TwitterAmanda Palmer has done itagain.  Last night, usingTwitter e-commerce tool Chipify, Palmerbegan selling a $20 "StopPretending Art is Hard" t-shirtjust 24 hours after shedconceptualized it.Two hours afterlaunch, she was logging a $20sale every 30 seconds and thisisnt the first time that Palmerhas profited from a flash sale onTwitter.How Amanda Palmermade $11,000 onTwitter in two hours"Being a touring musician means meeting fans,"Amanda says. "I go out and meet fans after everygig. Its important to make contact in real life and notjust online in social media like Twitter. If you dontmeet fans in real life too, then youre a fraud. If yourenot comfortable getting into the sweat with them andtalking with people at shows, then how can you do itsuccessfully online? I love connecting with fans.Speaking to people at the merchandise table afterthe show is great. I can stay there forever."
  41. 41. The Pivot
  42. 42. “We put a lot of cultural baggage onmoney, but really its quite a neutralindicator that youre adding value topeoples lives. Go for the paying gigs.Aim to make money from the things youcreate. By constantly focusing on this,youre focusing on being valuable!”- Derek Sivers
  43. 43. Innovation Accounting
  44. 44. Direct-To-Fan&Fan-Funding platforms
  45. 45. PledgeMusic
  46. 46. Differentiatingyourself...
  47. 47. Jim Hall
  48. 48. Some tips ondeveloping your ownvoice from saxophonistDavid Liebman...
  49. 49. “Transcribe yourself:In order to discover what is different and good inyour own playing transcribe something recent andlisten hard.You are bound to find something that isnot directly related to your influences, even if it issomething minor like the tone on a certain note ofyour horn, or a certain nuance, or possibly arhythmic thing.This takes heavy analytical powersbut by now you are prepared to notice such finedetails.”
  50. 50. “Write exercises and compositions:Take what you hear from yourself and write tenexercises or compositional studies that manifestthe device or idea in different ways. Be creativeand try everything so that the seed that youplanted can grow cumulatively.”
  51. 51. “What is missing:Once you have some written material and a conceptof what you are doing check out what is missingfrom a standpoint of tension and release, opposites,balance and other musical elements. Fill in theblanks both compositionally and from the  playingstandpoint.”
  52. 52. Seth Godin on BusinessModels1. What compellingreason exists forpeople to give youmoney? (or votesor donations)2. How do youacquire what youreselling for less thanit costs to sell it?
  53. 53. Seth Godin on BusinessModels3. What structuralinsulation do youhave from relentlesscommoditization anda price war?4. How will strangersfind out about thebusiness and decideto becomecustomers?
  54. 54. Disruptive innovation
  55. 55. Understanding the MusicIndustry Business Rules
  56. 56. RecordingUnderlyingcomposition(music + lyrics)PAEvery recording embodies two copyrightsWho gets thelicensing revenue?• Songwriters/Composers• PublishersWho gets thelicensing revenue?• Performers• SR Copyrightowner (usually arecord label)Sound recordingSRThis slide is recreation of a FMC image
  57. 57. Composition Copyright• Mechanical Royalties from record sales forcomposition used in sound recordings. Paidto publishers/composers• Performance Royalty for publicperformance on radio, television, livevenues, etc.
  58. 58. Sound recordingcopyright• Artist Royalty - paid to recording artist bythe record label based on contract terms• Digital streams (Pandora, satellite radio,etc.) generate royalties distributed to label,performer and sidemen• Licensing sound recording
  59. 59. Sync licenses• A sync license is a separate license forsynchronizing a recording with film• Must be negotiated separately withpublisher(s) and record label• Music supervisors prefer to work withpeople who control both copyrights
  60. 60. “The skills it takes to make a livingas a musician are the exact sameskills it takes to be a successfulentrepreneur.”- Derek Sivers
  61. 61. “Musicians already have to find goodplayers that they get along with,manage the delicate egos, keep theteam focused and moving forward.This is no different thanhiring...”
  62. 62. “Musicians already have to puttogether a good show thatsentertaining, draws a crowd, and growsby word-of-mouth.This is no different thanproduct development...”
  63. 63. “Musicians already have to hustle,network, look everywhere foropportunities, say yes first then figure itout afterwards.This is no different thanbusiness development...”
  64. 64. “...and musicians already have todescribe their music in an enticing way,present an intriguing image, and winfans wherever you go.This is no different thanmarketing.”- Derek Sivers
  65. 65. “Forget everything and remember that itsjust real people.Theres no such thing as acrowd. Its just individuals.Talk to them.Treat them as unique individuals.Treat themas your friend, not your customer. Find outwhat they want and like. Speak with themexactly like you speak with your best friend.There should be no difference.”- Derek Sivers
  66. 66. What is the unmetneed?
  67. 67. How am I creatingvalue?
  68. 68. Thinking Different(ly)...The rare and valuable skills of musicianshttp://ewjensen.comeric@ewjensen.comEric JensenCornel School ofContemporary MusicMay 9, 2013