Loren Weisman

It seems like there are so many different aspects to the music business, and so little time to learn it all and hone your skills. From keeping yourself healthy and keeping your musical edge, to knowing how to confidently sell your act and when to post on social media sites, life in the music business offers a wide variety of daily tasks.

In the middle of all the music, branding, and music business plan are the legal and organizational elements that make the business and any investments legitimate. This includes the internal contracts between each member in a band, the contracts with independent contractors you work with or have worked with, who wrote what, who is getting what, and the organization of the group into an actual business venture that has accounting and accountability.

That amazing song, that great look, that band that sounds like no other: These are only parts of the music business. To thrive, sustain, and succeed in the music business — the singer on the front of the stage, the drummer in the back of the stage, the manager on side stage, or the production company that built that stage — you need to know the 16 Ps that help you move further in all the aspects of the music business or any type of business today.

A great way to figure out what you want to do as well as what you would never do in the music business is to ask some important questions of yourself in a self-assessment format. Looking in the mirror and really being honest with yourself is the best way to know what’s best for you. Don’t lie to yourself or answer these questions any other way than with brutal honesty.

One of the first places an investor, potential funder, or the owners of a label will look at in a music business plan is the expenses and costs section. Having the best-planned and most-detailed expense budget is where most music business plans fail. Copyright fees Publishing fees Trademark fees Attorney fees Bookkeeping setup Accounting costs Music consultant Music producer Recording studio Recording engineer Mixing engineer Mastering Session players Graphic designer web designer SEO expert Photographer Videographer Distribution Marketing/publicist Apparel Insurance (gear) Healthcare Grant writer Web hosting Miscellaneous Products Press kits Banners Business cards Postcards Merchandise displays Printing fees Postage fees Memberships Instruments Cases Computer Phone Online backups Website support Music conferences Gas/tolls Vehicle maintenance Radio promotion Magazine ads Postering CDs/Vinyl Download cards Rent/mortgage Hotels Food Salaries Internet Clothing Flights Hotels T-Shirts Cups and glasses Merchant setup Taxes Towels Stickers Facebook ads Twitter ads YouTube ads Promoted posts Internet radio ads Press releases Website ads Print ads Laundry Instrument repair Local promoters Personal insurance Hair Make Up Although you might be able to save money on certain requirements, you always need to have a great deal budgeted for the cost of marketing.

There are many jobs in the music business that don’t involve writing music or playing music. Are you the architect type? Do you like the kind of work that builds from the ground up and the type that is all about creating the right foundations? Maybe the building-careers job options strike your fancy. Music business consultant: A professional and experienced music business consultant has a wide array of experience and knowledge about the music business and helps artists, labels, managers, and others organize and outline plans for successful ventures.

Want to work in the music business, but stay out of the spotlight? These are the musician jobs that don’t have the brightest spotlights shining on them, but keep you playing, performing, recording, and writing the music that is out there shining. Session musician, substitute musician, and backup musician: The highest caliber musician job for musicians; these musicians are the first call to the studio, the last-minute call to cover for another, or one of the backup singers or players for a tour, session date, or gig.

Whether you go the route of an established music publishing company or you start your own, you want to get as many licenses for your music to create profit. Licensing your music means just that — you or the music publisher allow someone to use a product that you own but you don’t transfer the ownership. The deals created from licensing your music, ironically enough, is called publishing.

Want to run a successful event in the music business? It comes down to thinking of a show as more than just a show when having an event that’s designed to make you money, help your promotion, and be as productive as possible. Too many artists and even managers have a linear mindset to shows and events. Instead, think of every show and every event as an opportunity for that night and all the people who attend, but also for all the people who may have seen or heard about the event, those who were told about the event, as well as local media with whom you now have a greater connection.