3. BUSINESS SCHOOL IN 1 SLIDE
● Compounding interest is real (next slide)
● Keep your overheads low & stay out of debt
● Spreadsheeting/budgeting is real
● Cashflow can destroy your dreams
● The usefulness of marketing, economics, contract law
and business analysis are all contextual
● Business is a philosophy just like the arts
● You learn 90% of everything on the job
● It’s not what you know
● You can know most things if you teach yourself
4.
5. BASIC GRANT BUDGETS:
● INCOME/REVENUE: The money coming in.
● EXPENSES: The money going out.
● PROFIT or LOSS: The difference between revenue and
expenses
In grant budgets, the grant money itself is revenue and it’s there to
make-up a proposed loss. So…
PROFIT ALWAYS EQUALS LOSS IN GRANTS BUDGETS
THE GRANT IS THERE TO HELP YOU ‘BREAK EVEN’
6. WRITING YOUR BUDGET:
● You have to 100% start with the
expenses. That’s what the grant is there
to address.
● Let’s use the Creative Victoria grant
budget as our example. It’s on CANVAS.
7. EXPENSES: (actual subheadings in the budget)
● Marketing and Promo:
○ Hire a publicist (duh, ask the publicist what
she wants to spend money on)
○ Buy ads
○ Print posters & distribute them
8. EXPENSES: (actual subheadings in the budget)
● Project / Production Costs:
○ Cost of making the thing.
○ Accommodation
○ Travel
○ Studio hire
○ Vinyl / tape pressing
○ Digital distro
○ Artwork
10. EXPENSES: (actual subheadings in the budget)
● Salaries, fees and on-costs:
○ You’ve got to pay people, everyone, what
they’re worth = ask them, include
correspondence in appendix
○ Use industry standards
○ ‘On-costs’ all the costs associated with a
person, not just their salary. Not often that
relevant to music grants.
○ Per diems.
11. EXPENSES: (actual subheadings in the budget)
● In-kind:
○ Tricky...these are expenses that people (or
yourself) are donating to the project but still
have a tangible value.
○ I put my Home office expenses (internet, rent,
electricity) in here instead of in Admin
○ Anything people are bartering or exchanging
goes in here.
○ Band member’s artist fees?
○ Your personal contribution
12. WHAT IT COSTS
HOW MUCH OF WHAT IT
COSTS YOU’D LIKE THE
FUNDING BODY TO PAY
THE DIFFERENCE IS
‘IN-KIND’
13. INCOME: (actual subheadings in the budget)
● GRANTS: You include the funder in here
+ you can say you’re applying for other
grants.
● EARNED INCOME: Expected revenue,
ticket sales, product sales, artist fees
from other places, etc.
14. INCOME: (actual subheadings in the budget)
● APPLICANT AND OTHER: What you’re
putting in from your own money. Yes,
there’s many repetitions.
● IN-KIND INCOME: Often just a
cut-and-paste of expense ‘in-kind’. Why?
Don’t ask why.
15. THEN...
TOTAL INCOMES = TOTAL EXPENSES
It has to be exact or the websites often will
not let you submit the grant. It won’t give
you the submit button.
This is a world of pain.
It can kill your grant.
16. EXERCISE
In groups of 3-4, discuss:
● Possible concepts for grant applications
for your final portfolio
● Possible funders
● Expenses incurred by the idea
WORK ON DRAFT BUDGETS AND BRING
THEM IN FOR TROUBLE-SHOOTING
