Starting your business:
- Using the Internet take 20 minutes to remind yourselves about the Music Promoter job role.
- Keep a note of your findings.
- Feedback your results to the group.
Business model
Promoters are typically hired as independent contractor by music venues, earning an agreed-to fee or royalties (colloquially known as a "cut"). The royalty structure is often a simple percentage of admission fees (called "the door") and/or food and drink sales, but like other royalty arrangements many variations are possible such as minimums or maximums, allowances for various expenses, or limitations (e.g. only drink sales after midnight). Other promoters operate independently, renting venues for a fixed fee or under a revenue sharing arrangement with the building owner or tenant, and keeping all of the additional profits from a successful event. One common arrangement for small venues is for the promoter to earn all of the admissions fees, while the venue earns all of the food and drink revenue.
Some venues have exclusive arrangements with a single promotion company; others work with multiple promoters on a rotating schedule (one night per week, for example) or on an event-by-event basis. Promoters often work together, either as equal partners or as subcontractors to each other's events. Several promoters may work together for a large special event, e.g. a New Year's Eve party in a hotel ballroom. They may also deputize "hosts", who are essentially socially influential or desirable non-promoters who will market the events to their circle of friends in exchange for special treatment or free admission to the event.
At a minimum the event promoter manages publicity and advertising. Depending on the arrangement they may also handle security, ticket sales, Admission to an event or establishment (door policies), decorations, and booking of entertainers. Many promoters are DJs or musicians themselves, and perform at their own event. Conversely, many musicians act as de facto promoters for their own concerts, either directly or through their manager or booking company. Historically, promotion has been a cottage industry, with companies operated by one or several well-connected charismatic individuals, often working part-time. However, with the rise of corporate ownership of live entertainment assets several large companies have emerged in the field, most notably Live Nation via its acquisition (indirectly, via Clear Channel), of Bill Graham Presents. The larger companies tend to promote more traditional mainstream music in exclusive contracts with concert halls. Alternative music and events and nightclubs remain in the hands of independent promoters.
Contracts and disputes
There are often disputes over money in the promotions industry because it is largely cash business with a history of corruption and uneven recordkeeping. In addition there are many accounting complexities to manage, particularly for large events: revenue, expenses, and oversight of parking, coat checks, concession vendor sales (e.g. CDs and t-shirts), box office so-called "convenience fees", in kind trades, promotional give-away items used to lure guests (e.g. free drinks), costs for insurance, cleaning staff, and so on. One area of frequent contention are quid pro quo cross-promotions, where the promoter or some other party connected with the venue will obtain a favor (for example, a price discount) in exchange for giving a future favor to the vendor. If the existence of the scheme, or the relationship between the parties, is undisclosed this may become a form of bribery. Another opportunity for misunderstanding are the various "lists" of guests who will be admitted for free or with VIP treatment, and the "door policy" used by bouncers to decide who will be admitted and at what price. To deal with these complexities event contracts can become quite long and detailed. Whether written or not, these arrangements tend to favor the party with the greater sophistication or the more control over the production of the event. Even the most detailed, professionally written and negotiated contracts can become the subject of lawsuits over interpretation.
Because nightclubs are often associated with drug and alcohol consumption, rowdiness, and other late-night behavior, promoters may become entangled in various criminal disputes as well.
Promotions methods
Promoters bring crowds through a variety of methods. The most direct are guerrilla marketing techniques such as plastering posters on outdoor walls, flyposting, and distributing handbills on windows of cars parked in entertainment districts. Promoters also keep mailing lists, usually email lists, of their preferred guests and their wider list of potential customers. Recently, many promoters have taken advantage of online technology such as online social networks and event listing sites to handle publicity, invitations, mailing lists, and so on. Clubs and promoters are among leaders in SMS text message advertising to their own lists as well as sponsored snippets on 3rd party lists for daily content to subscribers. Many fans promote events,products through their Facebook/Twitter/Myspace on their own free will.
Promoters often build a brand out of their own personalities and the parties they host, marketing the events under a consistent name, style, type of program, and social experience that downplays the branding of the venue or artist. They may develop a loyal clientele that will follow them from one location to another.
Music Promoter:
one of the most entrepreneurial roles in the music industry.
Roles: To sell as many tickets as possible and deal with advertising and organisation of one of gig to an international tour.
- Book artists to perform live at particular venues.
- May negotiate with artists / booking agent direct.
- May be responsible for one venue, a festival or several venues.
- Provide artist with venue, ticket facilities and basic security arrangements and guest lists.
- Provide (as agreed) equipment, personnel, mixing desk, Engineer.
- Provide (as agreed) backstage facilities, dressing rooms, toilets, meeting and VIP areas.
- Provide insurance cover against injury or death caused to members of the public.
- Provide (as agreed) working permits for performances abroad.
- Provide (as agreed) backstage and technical riders.
The Job:
- Very long hours.
- An office job by day and out to venues in the evening.
- An entrepreneur.
- A promoter buys up all the tickets cheaply and then tries to sell them to the public at a higher price.
- Can be very lucrative if established with popular live acts.
- Can be very high risk.
Class Excersise:
Promoter Excersise. Find info. About two well known promoters by the names of Harvey ‘Brit’ Goldsmith & Bill Graham.
Harvey ‘Brit’ Goldsmith Career History:
Harvey Goldsmith began his career in the Entertainment Industry in 1966.
In 1973 he formed Artiste Management Productions Limited to produce and manage Artists in the Music Industry.
In 1976 Harvey Goldsmith Entertainments Limited was formed which became the UK’s leading Promoter of Concerts and Events.
In 1985 Harvey Goldsmith produced Live Aid with Sir Bob Geldof, which raised £140 million for the starving in Africa.
Harvey Goldsmith joined the Princes Trust in 1982 and produced the first Princes Trust Rock Gala. Harvey then became a member of the Princes Trust Board and Vice Chairman of Princes Trust Trading Limited.
In 1990 Harvey produced the first of three major Arena Opera productions – Aida, Carmen and Tosca.
In 1991 Harvey produced Pavarotti in Hyde Park, which was the first concert in 20 years to be held in Hyde Park.
In 1995 Harvey produced the MasterCard Masters of Music show in Hyde Park, which raised £1 million for the Princes Trust.
In 1995 Harvey joined the Red Cross Communications Board producing Pavarotti and Friends
In 1996 Harvey was honoured with a CBE in the Queen’s birthday Honours List in recognition of his work in the entertainments business.
Harvey Goldsmith has produced and promoted shows with most of the world’s major Artists including The Rolling Stones, The Who, Bruce Springsteen, The Eagles, Sheryl Crow, Shania Twain, Bee Gees, Jools Holland and Sting to name but a few.
In 1999 Harvey produced Net Aid the largest awareness campaign for Extreme Poverty for the United Nations Development Program and Cisco Systems.
In November 2000 Harvey produced the first Teenage Cancer Trust event at the Royal Albert Hall with The Who and guests raising over £1 million for the charity.
In summer 2001 Harvey was hired by Safeway Stores to present Pavarotti, Charlotte Church, Vanessa Mae and Russell Watson in Hyde Park.
In October Harvey produced Unite For The Future at The Old Vic raising $1 million for victims of the World Trade Centre Disaster and their families living in the UK.
In February 2002 Harvey promoted five more shows for the Teenage Cancer Trust with Marti Pellow, Oasis, The Who and Paul Weller at The Royal Albert Hall raising £500,000 for the Teenage Cancer Trust.
In June 2002 he followed the Safeway event with another hugely successful show featuring Rod Stewart, Diana Ross, Shirley Bassey, Ronan Keating and Gabrielle.
In October 2002 Harvey promoted Bruce Springsteen at Wembley Arena, the tickets for this show sold out in 40 minutes making it one of his most successful yet. This was followed by three sell out stadium shows in May 2003.
In March 2003 Harvey and Roger Daltrey co-produced another run of shows at the Royal Albert Hall raising money for Teenage Cancer Trust with six nights featuring Richard Hawley, Coldplay, Nigel Kennedy, Eric Clapton, Richard Ashcroft, Noel & Liam Gallagher, Paul Weller, Ash, Asian Dub Foundation, Supergrass, Doves, Madness and Aswad.
In August 2003 Harvey produced Fly To The Past, an historic revival and flight display at Blenheim Palace. Based on the success of this unique event plans are underway to make this a biannual event.
In August 2003 Harvey produced for the Mayor of London the inaugural concert of the renovated Trafalgar Square with David Gray and five guest artists.
Harvey currently produces an annual 32-city tour for Jools Holland and is currently working with artists such as The Who, Bruce Springsteen and David Gilmour.
Harvey has also created and produced The Smash Hits Poll Winners Party and The Disney Kids Awards.
In 1994 Harvey commenced a relationship with Cirque du Soleil. This has been one of most successful shows ever to perform in the UK. Returning to London’s Royal Albert Hall every January to date, the show is seen by around 183,000 people and sells to around 98% of capacity. In 2005 Harvey managed the show in London, Birmingham and Manchester, which marked a first time in Europe for Cirque in having two different productions in the same Country.
April 2004 saw another successful run of the Teenage Cancer Trust Concerts at the Royal Albert Hall.
In May 2004 Sting sold out a run of six nights at the Royal Albert Hall.
On July 6th 2004 Harvey produced for the Crown Estate and Westminster Council the first ever parade of Formula One cars in the centre of the West End- Regent St. Over 500,000 people attended this event. Regent St. was transformed into a 3 KM. Circuit and the top eight Formula One cars and drivers each completed a circuit.
Harvey is also a consultant to Anschutz Entertainment Group on the re-development of the Dome. This will be a new entertainment district with a 24,000 capacity arena as its centrepiece.
In December 2004 Luciano Pavarotti appointed Harvey to be the worldwide producer of his Farewell Tour. To date 37 sold out concerts have taken place. Using Harvey’s worldwide contacts and associates; The Tour has spanned six continents performing in North America, South America, Europe, Middle East, Asia and Australasia.
In May 2005 the Band Aid Trust asked Harvey to produce Live 8 worldwide. The event took place on July 2 2005 and presented the biggest collection of artists (225) all on one day in eight locations around the world. In addition to the Hyde Park concert in London, Harvey also executively produced Paris, Berlin, Rome and Philadelphia. The TV coverage set world records with 160 TV networks around the world showing the event live, plus 400 radio stations. In addition Harvey secured the partnership of AOL and Nokia. AOL’s coverage of the five key events were ground breaking and have become a benchmark for global events.
Harvey is passionate about promoting London as The Greatest City In The World. Harvey became a director of the London Tourist Board and was part of the group which transformed LTB in to Visit London. Harvey is currently a member of the Mayor’s Tourism Advisory Group.
In January 2006 Harvey was awarded the Chevalier des Artes et Lettres from the French Minister of culture. Harvey is currently chairing the British Music Experience to be built at the new O2 Dome in Greenwich with AEG and the BPI.
In October 2006 Harvey was honoured with the 15th Music Industry Trust’s Award (MITS), one of the highest accolades to be awarded in the music industry, in recognition of his contribution to the music industry.
Harvey is Chairman of Ignition, an Experiential Marketing Company, who are industry leaders in brand activations at events all over the world. Ignition was the winner of the 2006 Field Marketing and Brand Experience award.
Harvey is currently presenting the fantastic dance spectacular The Merchants Of Bollywood; the first ever Bollywood production to tour straight from Film City in Mumbai. The show is currently touring the UK and will open at London’s Hammersmith Apollo on 21st December 2006, followed by a six month tour of Europe in 2007.
In November 2006 Harvey produced the UK Arena dates of Bruce Springsteen’s sell-out tour with the Seeger Sessions band.
Harvey is Executive Producer of Nokia New Years Eve 2006, which will see five concerts run simultaneously in Hong Kong, Mumbai, Berlin, New York and Rio. The concerts will be broadcast live across the globe and mark the biggest ever New Years Eve Music extravaganza, featuring Black Eyed Peas, John Legend, Nelly Furtado, Scissor Sisters and many more.
Interviews:
The Legend Harvey Goldsmith - Music Education
http://www.youtube.com/watch?v=-ZlNlhhS4bQ
Harvey Goldsmith on Community Festivals
http://www.youtube.com/watch?v=4bQ3E-WrR-I
Bill Graham Career History:
Was an American impresario and rock concert promoter from the 1960s until his death.
He opened certain weekday nights for unknown bands, like Santana, to get exposure. Graham promoted the West-Coast leg of the legendary The Rolling Stones American Tour 1972, also known as S.T.P. Tour (for Stones Touring Party), as well as parts of the Rolling Stones 1975 and 1978 tours. He would then promote the entire Rolling Stones American Tour 1981 and Rolling Stones European Tour 1982. When the Stones returned to touring in 1989 with the Steel Wheels tour.
Some of the other artists who signed with Graham were Rod Stewart, Elvin Bishop and Cold Blood.
He also appears as a promoter in the 1991 Oliver Stone film, The Doors.
Interviews:
Bill Graham interview part 1:
http://www.youtube.com/watch?v=9Nq1UEIwFaI
Friday 18 November 2011
Friday 4 November 2011
Chris's class week 5
Music In The Freelance World:
- Benefits of starting your own business
- Risks in starting your own business
- Getting started (research, idea, name)
- Online CV
Entrepreneurship benefits:
• Earn more money. Self-employed people generate their own income and profits.
• Freedom to do projects that you enjoy, movie in different directions and take new approaches.
• Use a particular talent such as a technical aptitude or creative skill.
• Be your own boss.
• Chose your hours of work.
• Take charge of your own future. Working for someone else makes you vulnerable to redundancy, closures or mergers.
• Work from home or operate out of your own separate premises or move round different locations as a contractor.
• Free yourself from the stresses of the conventional workplace – office politics, targets, meetings and constant demands.
• Live off your wits and your own efforts rather than depending on an employer.
• Receive extra tax benefits.
Entrepreneurship benefits:
• You cannot guarantee a large salary or income of any kind! Competition, economic fluctuations, and changing tastes can all affect this.
• When you start out, you may not be making much money or it might not be arriving at a predictable rate.
• You must earn enough to live, so you might need to support yourself in another way while seeing your idea take off.
• Working on your own means you are responsible for the day-to-day running of the business. This may mean doing tasks that you dislike.
• You need a product for which there is a demand. This might depend on having a certain image, technique or product.
• To obtain tax benefits, you usually need to pay out money first. You’ll also have to make your own pension and health insurance arrangements. The buck stops with you! Taking an unwise decision could dent your income.
• Expanding to rapidly or conversely not being quick to seize a chance might be detrimental.
• Your customers and clients will often dictate your hours. You have to respond to their needs or forfeit money and good will.
• Working from home is most effective when you have the space and facilities to do so. If you work out of other premises, you will have to pay rent and other overheads.
• It’s impossible to escape some pressure, especially the kind coming from clients and customers.
• By not being employed you are potentially losing a range of benefits and a support infrastructure, such as computer help.
• Setbacks may impact on your confidence and profits. Be realistic, learn from
Starting your own music business plan
• Overview: information about the sector (s) in which you will be operating, showing an understanding of the market and of the competition.
• Product: what are you offering? What differentiates it from similar items? What unique factors can you bring to the end result?
• Objectives: What qualities and quantities targets do you have in mind?
• Marketing plan: demonstrate that you know your customer base, that you have identified a niche for yourself and you have a clear idea o how to move forward and corner a share of the market in the immediate, medium term and longer term future. You should describe a well-rounded strategy for promoting your business using an appropriate range of methods and media.
- Benefits of starting your own business
- Risks in starting your own business
- Getting started (research, idea, name)
- Online CV
Entrepreneurship benefits:
• Earn more money. Self-employed people generate their own income and profits.
• Freedom to do projects that you enjoy, movie in different directions and take new approaches.
• Use a particular talent such as a technical aptitude or creative skill.
• Be your own boss.
• Chose your hours of work.
• Take charge of your own future. Working for someone else makes you vulnerable to redundancy, closures or mergers.
• Work from home or operate out of your own separate premises or move round different locations as a contractor.
• Free yourself from the stresses of the conventional workplace – office politics, targets, meetings and constant demands.
• Live off your wits and your own efforts rather than depending on an employer.
• Receive extra tax benefits.
Entrepreneurship benefits:
• You cannot guarantee a large salary or income of any kind! Competition, economic fluctuations, and changing tastes can all affect this.
• When you start out, you may not be making much money or it might not be arriving at a predictable rate.
• You must earn enough to live, so you might need to support yourself in another way while seeing your idea take off.
• Working on your own means you are responsible for the day-to-day running of the business. This may mean doing tasks that you dislike.
• You need a product for which there is a demand. This might depend on having a certain image, technique or product.
• To obtain tax benefits, you usually need to pay out money first. You’ll also have to make your own pension and health insurance arrangements. The buck stops with you! Taking an unwise decision could dent your income.
• Expanding to rapidly or conversely not being quick to seize a chance might be detrimental.
• Your customers and clients will often dictate your hours. You have to respond to their needs or forfeit money and good will.
• Working from home is most effective when you have the space and facilities to do so. If you work out of other premises, you will have to pay rent and other overheads.
• It’s impossible to escape some pressure, especially the kind coming from clients and customers.
• By not being employed you are potentially losing a range of benefits and a support infrastructure, such as computer help.
• Setbacks may impact on your confidence and profits. Be realistic, learn from
Starting your own music business plan
• Overview: information about the sector (s) in which you will be operating, showing an understanding of the market and of the competition.
• Product: what are you offering? What differentiates it from similar items? What unique factors can you bring to the end result?
• Objectives: What qualities and quantities targets do you have in mind?
• Marketing plan: demonstrate that you know your customer base, that you have identified a niche for yourself and you have a clear idea o how to move forward and corner a share of the market in the immediate, medium term and longer term future. You should describe a well-rounded strategy for promoting your business using an appropriate range of methods and media.
Chris's class week 4
Music in the freelance world:
Music Business Negotiation
Negotiation:
1. What is meant by the term negotiation??
2. Why do you think that it’s particularly important for freelance musicians?
NOTE: Everything is negotiable, apart from death, taxes, and the price of apple products.
- Freelance musicians ALL need an understanding of the negotiation process.
- DEFINITION: Bargaining process between two or more parties seeking to discover a common ground and reach an agreement.
- Negotiation skills are valuable in all walks of life.
- A 5-year management agreement or a recording contract it is so important that you get it right.
- Poor negotiation in the short-term can mean massive problems in the long term.
- Non-enforceable contracts can result in a loss of assets, or worse, losing your life’s work and savings.
- Negotiation by its very nature means to compromise.
- When two parties enter into an agreement, a contract between the parties outlining the terms and conditions of the agreement is mutually agreed.
- It is unlikely that both parties expect exactly the same terms and conditions.
- Hence there is the need to negotiate.
- Strong negotiation skills are fundamental to achieving and sustaining a career.
- Those who want to get better results need to develop effective negotiation skills.
- Poor negotiation skills prevent people getting what they want.
- Negotiation is vital to direct events to your advantage.
Class Exercise
1. When do your negotiate in your personal life?
2. When do you think you will need to negotiate in your music business life?
3. Take your time to think and give some examples.
Especially when your freelance and your selling a product the important thing to remember is that you are going to negotiate and people like negotiating.
PLANNING TO NEGOTIATE _ YOUR TEAM:
- It can be a good idea to allocate a negotiator e.g. your music business lawyer.
- Be aware of the cost of employing someone to negotiate for you.
- You may wish to have people supporting you ‘negotiating team’
- The best results begin with effective preparation.
- Find out whom you are dealing with.
- Ask yourself some fundamental questions before you enter into negotiation.
PLANNING TO NEGOTIATE QUESTIONS:
1. What do they want from you?
2. What do you have?
3. Do you need them?
4. Who else might want it?
5. Does anybody else have what you have?
6. What might someone else be prepared to give for it?
7. Are you willing to concede anything and why?
Other considerations:
- Estimate the importance of negotiation in the first place.
- Determine what the effects will be if no agreement is reached.
- This will make you think about what you have got to lose.
- Consider if you are in as a strong position.
- E.G. if you are an artist how many management companies are interested in representing you.
Estimating your position:
- How many labels are attempting to sign you?
- Are you really in a position to take on this responsibility?
- Can you deliver what is required?
- And appreciation of value of what is your buying or selling is vitally important?
Formulate a strategy:
- Creating/agreeing objectives.
- Allocating roles – e.g. chairperson etc.
- Prepare your case and consider the opposing teams position.
- Create an agenda..
- Have a plan B or even C & D.
- If both parties agree on their Plan B, it can be much more beneficial as both sides feel as though they have achieved something of value.
Conducting Negotiation
- Each side has goals, interests, personalities and persuasive abilities.
- Don’t assume you are strong and they are weak or vice-versa.
- The goal is to complete the deal you want.
- Draw up an outline of what you want to discuss.
- This ensures that you do not miss any vital points.
- Take notes.
- Keep clear what you’ve already agreed to.
- Only make concessions in reverse order importance.
- But only in order to gain something from them.
Dos and don’ts:
- Don’t negotiate unless you need to.
- If you think what you have to offer is such good value then stick to your guns.
- Always evaluate your needs honestly and buy/sell hard.
- Work out your ideal position, don’t be afraid to state it straight away and stick to it unless you feel you need to move never ever accept the first offer.
- There is almost always a different to better offer behind it.
- If you accept to quickly they will think they should have asked for more.
- Listen more and talk less. Good negotiators lead by listening not talking.
- Let them ramble on even if its rubbish and frusterating.
- Don’t offer free gifts. Always ask for something in return, as no one values a free gift for long.
- A free gift today becomes tomorrows starting point.
- Never disclose your bottom line, not before you start. (Don’t give your game away)
- Never make a quick deal.
- Check your understanding.
The way, Keep people talking! Engage in conversation they will gradually soften to your way of thinking. As long as you can keep it going they will soften to your level.
Concluding:
- Closing – make sure you sense it, but don’t rush begin to summarise.
- When the terms have been agreed y the parties they represent, can the negotiating process be considered complete.
- A verbal agreement is legally binding, its just more dofficult to prove.
- Get it in writing. Signed and dated.
- State that the agreement is subject to contract.
- If you address the above points the result should be a competitive agreement.
Music Business Negotiation
Negotiation:
1. What is meant by the term negotiation??
2. Why do you think that it’s particularly important for freelance musicians?
NOTE: Everything is negotiable, apart from death, taxes, and the price of apple products.
- Freelance musicians ALL need an understanding of the negotiation process.
- DEFINITION: Bargaining process between two or more parties seeking to discover a common ground and reach an agreement.
- Negotiation skills are valuable in all walks of life.
- A 5-year management agreement or a recording contract it is so important that you get it right.
- Poor negotiation in the short-term can mean massive problems in the long term.
- Non-enforceable contracts can result in a loss of assets, or worse, losing your life’s work and savings.
- Negotiation by its very nature means to compromise.
- When two parties enter into an agreement, a contract between the parties outlining the terms and conditions of the agreement is mutually agreed.
- It is unlikely that both parties expect exactly the same terms and conditions.
- Hence there is the need to negotiate.
- Strong negotiation skills are fundamental to achieving and sustaining a career.
- Those who want to get better results need to develop effective negotiation skills.
- Poor negotiation skills prevent people getting what they want.
- Negotiation is vital to direct events to your advantage.
Class Exercise
1. When do your negotiate in your personal life?
2. When do you think you will need to negotiate in your music business life?
3. Take your time to think and give some examples.
Especially when your freelance and your selling a product the important thing to remember is that you are going to negotiate and people like negotiating.
PLANNING TO NEGOTIATE _ YOUR TEAM:
- It can be a good idea to allocate a negotiator e.g. your music business lawyer.
- Be aware of the cost of employing someone to negotiate for you.
- You may wish to have people supporting you ‘negotiating team’
- The best results begin with effective preparation.
- Find out whom you are dealing with.
- Ask yourself some fundamental questions before you enter into negotiation.
PLANNING TO NEGOTIATE QUESTIONS:
1. What do they want from you?
2. What do you have?
3. Do you need them?
4. Who else might want it?
5. Does anybody else have what you have?
6. What might someone else be prepared to give for it?
7. Are you willing to concede anything and why?
Other considerations:
- Estimate the importance of negotiation in the first place.
- Determine what the effects will be if no agreement is reached.
- This will make you think about what you have got to lose.
- Consider if you are in as a strong position.
- E.G. if you are an artist how many management companies are interested in representing you.
Estimating your position:
- How many labels are attempting to sign you?
- Are you really in a position to take on this responsibility?
- Can you deliver what is required?
- And appreciation of value of what is your buying or selling is vitally important?
Formulate a strategy:
- Creating/agreeing objectives.
- Allocating roles – e.g. chairperson etc.
- Prepare your case and consider the opposing teams position.
- Create an agenda..
- Have a plan B or even C & D.
- If both parties agree on their Plan B, it can be much more beneficial as both sides feel as though they have achieved something of value.
Conducting Negotiation
- Each side has goals, interests, personalities and persuasive abilities.
- Don’t assume you are strong and they are weak or vice-versa.
- The goal is to complete the deal you want.
- Draw up an outline of what you want to discuss.
- This ensures that you do not miss any vital points.
- Take notes.
- Keep clear what you’ve already agreed to.
- Only make concessions in reverse order importance.
- But only in order to gain something from them.
Dos and don’ts:
- Don’t negotiate unless you need to.
- If you think what you have to offer is such good value then stick to your guns.
- Always evaluate your needs honestly and buy/sell hard.
- Work out your ideal position, don’t be afraid to state it straight away and stick to it unless you feel you need to move never ever accept the first offer.
- There is almost always a different to better offer behind it.
- If you accept to quickly they will think they should have asked for more.
- Listen more and talk less. Good negotiators lead by listening not talking.
- Let them ramble on even if its rubbish and frusterating.
- Don’t offer free gifts. Always ask for something in return, as no one values a free gift for long.
- A free gift today becomes tomorrows starting point.
- Never disclose your bottom line, not before you start. (Don’t give your game away)
- Never make a quick deal.
- Check your understanding.
The way, Keep people talking! Engage in conversation they will gradually soften to your way of thinking. As long as you can keep it going they will soften to your level.
Concluding:
- Closing – make sure you sense it, but don’t rush begin to summarise.
- When the terms have been agreed y the parties they represent, can the negotiating process be considered complete.
- A verbal agreement is legally binding, its just more dofficult to prove.
- Get it in writing. Signed and dated.
- State that the agreement is subject to contract.
- If you address the above points the result should be a competitive agreement.
Chris's class week 3
Music in the freelance world:
Music Business Planning
Why write a music business plan?
- Clear the way for creative thinking.
- Pinpoint strengths and weaknesses.
- Identify problems & obstacles.
- Expose hidden opportunities.
- Set priorities.
- Coordinate marketing.
- Take guesswork out of budgeting.
- Allow meaningful review & revision.
Business Plan:
A business plan is a universal an international document with some ‘adjustment’ depending on your industry type.
Why plan your music Business?
- All successful musicians will have to plan their business at some point.
- To acquire funding from financier or private investor.
- To map out how you will run your business on a daily, monthly. Yearly basis.
Business planning:
- A business plan is a standard format document that is required when seriously considering ANY business.
- A Good business plan is a work in progress.
- The act of competing the plan helps you think things through thoroughly.
PAGE 1: Executive summary
- It should be written last.
- Once all the sections of the plan are complete you summarize/describe the main points.
- Usually once perfectly write page.
- Inserted after the table of contents.
- State what you want to achieve upfront.
Answer the following:
1. Who are you?
2. What do you sell? /your service?
3. What do you want?
Company Description
- Prove why an investor should be interested funding your idea.
- Describe your product or service
- Include the area of the music industry you are in and how you will become profitable.
Your pitch:
- Each of you should write a ‘pitch’ for your business.
- This is a ‘mission statement’ that captures the imagination of investors.
- Your ‘pitch’ will be a statement lasting about 30 seconds.
Pitch Exercise”
- Each of you will take 20 minutes to write an emotive, well thought out pitch lasting no less than 30 seconds on a subject of your choice.
- Each of you will address your pitch to the group.
Article contd:
Products & services:
- This is where you discuss your product/service in more detail.
- Most music entrepreneurs will have more than one revenue stream.
- Describe your competitive advantage and why your business will succeed.
- You may also include future products & services.
- REVENUE STREAMS-SOME IDEAS:
Playlists, flash/micro drives, ring tones, games, apps, subscriptions, social sharing, videos, teaching materials, bogs, live streaming, ringbacks, branding, licensing, remixes, widgets.
Marketing plan:
- you will explain the current state of the market you are entering taking account of customers & competitors.
- List features, advantages * benefits of the product or service you offer.
- Know what your product or service will do for your customers.
- Explain your niche – explain what is special about your business.
Markiting mix:
1. PRODUCT: how will it meet or create consumer demand?
2. PRICE: is it low enough for your customer to but and high enough to make a profit.
3. PLACE: Where will your product or service be sold? Online? Offline? Both?
4. PROMOTION: What is your advertising & publicity strategy? What programs will you use to get your business moving?
Marketing
- End this section with a specific measurable description of how you will reach your goals
- List how many calls, emails, performances you will carryout to achieve success
- Attatch any diagrams/artwork that corresponds to your business in the appendix at the back of your plan.
- The majority of the plan should be in black & white, easy to read & professionally written
Management description:
- List each member of your management team and describe what they do to make the business successful.
- Explain specific duties of your manager, layer, agents, band members etc.
Financial plan:
- Create a spreadseet forecasting the best and worse case scenarios including potential sales.
- Include ALL income and expenses.
- Prepare a BREAK EVEN analysis showing exactly when you intend to become profitable.
- Finish your plan with chart that highlights these figure for the next 3-5 years.
Music Business Planning
Why write a music business plan?
- Clear the way for creative thinking.
- Pinpoint strengths and weaknesses.
- Identify problems & obstacles.
- Expose hidden opportunities.
- Set priorities.
- Coordinate marketing.
- Take guesswork out of budgeting.
- Allow meaningful review & revision.
Business Plan:
A business plan is a universal an international document with some ‘adjustment’ depending on your industry type.
Why plan your music Business?
- All successful musicians will have to plan their business at some point.
- To acquire funding from financier or private investor.
- To map out how you will run your business on a daily, monthly. Yearly basis.
Business planning:
- A business plan is a standard format document that is required when seriously considering ANY business.
- A Good business plan is a work in progress.
- The act of competing the plan helps you think things through thoroughly.
PAGE 1: Executive summary
- It should be written last.
- Once all the sections of the plan are complete you summarize/describe the main points.
- Usually once perfectly write page.
- Inserted after the table of contents.
- State what you want to achieve upfront.
Answer the following:
1. Who are you?
2. What do you sell? /your service?
3. What do you want?
Company Description
- Prove why an investor should be interested funding your idea.
- Describe your product or service
- Include the area of the music industry you are in and how you will become profitable.
Your pitch:
- Each of you should write a ‘pitch’ for your business.
- This is a ‘mission statement’ that captures the imagination of investors.
- Your ‘pitch’ will be a statement lasting about 30 seconds.
Pitch Exercise”
- Each of you will take 20 minutes to write an emotive, well thought out pitch lasting no less than 30 seconds on a subject of your choice.
- Each of you will address your pitch to the group.
Article contd:
Products & services:
- This is where you discuss your product/service in more detail.
- Most music entrepreneurs will have more than one revenue stream.
- Describe your competitive advantage and why your business will succeed.
- You may also include future products & services.
- REVENUE STREAMS-SOME IDEAS:
Playlists, flash/micro drives, ring tones, games, apps, subscriptions, social sharing, videos, teaching materials, bogs, live streaming, ringbacks, branding, licensing, remixes, widgets.
Marketing plan:
- you will explain the current state of the market you are entering taking account of customers & competitors.
- List features, advantages * benefits of the product or service you offer.
- Know what your product or service will do for your customers.
- Explain your niche – explain what is special about your business.
Markiting mix:
1. PRODUCT: how will it meet or create consumer demand?
2. PRICE: is it low enough for your customer to but and high enough to make a profit.
3. PLACE: Where will your product or service be sold? Online? Offline? Both?
4. PROMOTION: What is your advertising & publicity strategy? What programs will you use to get your business moving?
Marketing
- End this section with a specific measurable description of how you will reach your goals
- List how many calls, emails, performances you will carryout to achieve success
- Attatch any diagrams/artwork that corresponds to your business in the appendix at the back of your plan.
- The majority of the plan should be in black & white, easy to read & professionally written
Management description:
- List each member of your management team and describe what they do to make the business successful.
- Explain specific duties of your manager, layer, agents, band members etc.
Financial plan:
- Create a spreadseet forecasting the best and worse case scenarios including potential sales.
- Include ALL income and expenses.
- Prepare a BREAK EVEN analysis showing exactly when you intend to become profitable.
- Finish your plan with chart that highlights these figure for the next 3-5 years.
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