by J. Michael Storey

Created on: September 19, 2008

As a former touring musician and eternal music business optimist, I always want to exude confidence for those who pursue their dreams in this industry now. However, that's not always an easy feat, and this is one of those topics where it's even harder to be upbeat.

I want to start by saying that I don't believe that you can fail in the music industry until you call it quits. It's possible to do poorly, but if you're pushing forward at all, you cannot fail. That said, I am convinced that the main problem is education; not a college education, but an education via books, magazines, blogs, podcasts, mentors, and experiences. There is so much to learn about being in a band that an true independent musician should constantly be absorbing as much information as possible.

There are endless books I could recommend, but ultimately I suggest any book on music business that you can find at your local Barnes and Noble, Borders, etc. Google 'Music Business Blogs' and you can find some really great articles (aside from finding them right here on Helium.) Search 'Music Business' on iTunes and you will find several amazing podcasts that provide some seriously helpful tips. Never stop reading, watching, listening; you will be in the top 5% of all independent bands if you dedicate yourself to keeping up to speed on the business.

Another major problem is that most bands don't have the general business sense they need. Bands are companies and companies need to follow some basic guidelines to stay in business. One thing bands could do to help themselves in this area is go to the local SBA or SCORE office and get some business plan help, business set up help, marketing advice, and more. Best of all: IT'S FREE! This is a priceless resource that you and/or your band would be foolish to pass up.

On top of contacting those organizations, bands can set up quick meetings with entertainment lawyers (consultations should always be FREE) and Certified Public Accountants (again, consultation should be FREE.) These two professionals will be able to help you better organize your group and get you headed on the path to profitability. If you feel great about either of the people you sit down with, try and work out a payment plan with them so that you can retain them for your business team. YES, YOU NEED A BUSINESS TEAM!

And since there is a maximum amount of words to this article, I will wrap up by telling you to read more. If you need more help, please don't hesitate to contact me; my information can be found on my profile here on Helium. I hope this helps!

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