Will you put in money from your 9-5; request from family, friends or close relatives; or will you get a loan?
Additionally, crowdfunding—a financial funding avenue which has been gaining a lot of steam in today’s music industry—is another financing avenue to consider.
A key segment of the June 29 hosting of the seminar focused on the development of a good music business plan.
This was presented by the Barbados Investment & Development Corporation (BIDC).
“The annoying business side of music is where the creative person often becomes an ostrich with his head in the sand.” While the visual of Patrick Hess’ comment may cause a chuckle, it is indeed a reality that many creatives are not versed in the business aspects of their crafts.
This is certainly a leading factor behind why several extremely talented music creatives are never able to obtain noteworthy financial success in their careers.
It is imperative, he adds, that music creatives look at their potential careers through the eyes of an entrepreneur starting a business.
After all, he states; “being savvy in the business is the only way a music professional can truly survive in the music industry.” Gaining a better understanding of the Music Business is the key purpose of the seminar series recently launched by the Association of Caribbean Copyright Societies (ACCS) and the Caribbean Development Bank; piloted in Barbados through COSCAP.
Your ultimate challenge is to turn this negative into a positive.
Hopefully your band or music business is just the one to prove it.– Have you protected your intellectual property?