"Step 1"

  • Thread starter Thread starter peritus
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peritus

peritus

The not fountain head
So....

I know we've talked about the business thing a million times... I know that I need the DBA/tax ID, publishing company (e.g. ASCAP), business bank account, contracts, entertainment lawyers, accountant, and probably sample clearance lawyers....

Which one do I go for first? I'm thinking it's the DBA... Also, am I missing any big points here, confusing anything?

Thanks as always....
J Dot
 
Ya. first get the DBA. And entertainment lawyers can get expensive, but you will need them sooner or later. Only get entertainment lawyers for music! I learned the hard way and had a lawyer that said he new music, but at the end didn't get things right. If your lawyer goes for it, work it out so he gets a percentage of a deal. Like if a record company won't pay you for a project you did and the lawyer worked it out, he will get a persentage. Not all lawyers will do that. But, some will if they see you work hard and want to see you expand as a business. Otherwise you'll be paying by the hour. :o

You have your order down good. Get all the paperwork and legal stuff done first.

And like I always say, look at your business like your child. Don't feed it to fast. Grow your business slowly. Start small and then branch out. Like you would watch what friends your child has, pick your business partners wisely. Take baby steps before you join the big dogs. Cause this business can eat you up. Find people you trust to know your business.

Oh ya. Get a manager. You think of managers when your an artist. But, you really need someone to manage things while you handle things. Like making sure the studio is in order and if things need fixing and so on.

You don't have time to track clients down that didn't pay on a project. Which reminds me. Get an invoice program and make it a policy that you get the clients number and address. That way you can send invoices to them and have a paper trail. You need paper trails in this business even if it's email. Don't be mr. nice guy and think that all your clients will show up and do what they say. Do it right.

1. Pay before a session
2. Have No-Show fees
3. Have project policies
4. Give the client a data backup disc when a session is done and paid. The sessions on your drive is ONLY BACKUP. You give them the session. Or have them bring a drive.
5. Give an invoice after each session or project.
 
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Thanks B... You've always got valuable guidance....
 
On the studio note...

Do you find it a good investment to maintain a "store front" studio? I'm on the home based studio tip right now.. Beat production and what not...

I used to do a lot of tracking when I was assisting at Self Made.. Since the owner has moved, it's no longer...

I guess the root question is... If you sell a beat to an artist.. and you track it too... Do you charge them for the tracking? Separately?

Thanks
 
Also, remember you are running a business and it needs to be treated as such. FRIENDSHIP SECOND! You'll have clients say, "HOOK ME UP". You might already be doing that. This is how you eat. If you were working for someone, you wouldn't just give a part of your pay away to someone. It's the same thing. You time is valuable. And they need to understand that.

That's why hang up your policies on the wall. And live by them. You can give breaks sometimes. But, make guidelines.

Ex: - If a client books a session and doesn't show up without ANY notice or good reason, that's a $50 fee. They just left you in the studio waiting. You lost money and could have booked someone else that asked.
 
peritus said:
On the studio note...

Do you find it a good investment to maintain a "store front" studio? I'm on the home based studio tip right now.. Beat production and what not...

I used to do a lot of tracking when I was assisting at Self Made.. Since the owner has moved, it's no longer...

I guess the root question is... If you sell a beat to an artist.. and you track it too... Do you charge them for the tracking? Separately?

Thanks
Click to expand...

You really don't need store front when starting. Start small at first, then move. It's more work to start with a store front and more money.

And your question about charing tracking separately. It depends. If the person just bought a lease track and you gave a good deal, charge for studio tracking also. Cause sometimes if you don't, studio tracking will go on and on. They'll call you back and say,"Oh I don't like how a flowed and need to do it agian." And so on. If you do a project deal, maybe cut them a break. Or if it's an exclusive purchase, make a deal on tracking. Maybe 4 hours and then start charging after that 4 hours.
 
BeatsBuY said:
You really don't need store front when starting. It's more work to start that way.

And your question about charing tracking separately. It depends. If the person just bought a lease track and you gave a good deal, charge for studio traking also. Cause sometimes if you don't, studio tracking will go on and on. They'll call you back and say,"Oh I don't like how a flowed and need to do it agian." And so on. If you do a project deal, maybe cut them a break. Or if it's an exclusive purchase, make a deal on tracking. Maybe 4 hours and then start charging after that 4 hours.
Click to expand...

That sounds good... I saw a lot of those "need to do it again" situations in the past...

Thanks again...

It's funny how doing something as easy as getting a DBA is like going to the dentist... I recently got over the dentist fear too... Quit smoking...(cold turkey)... Lots of life changes this year..

Actually becoming a business would be a great way to start the fall quarter.. :D
 
It's funny how doing something as easy as getting a DBA is like going to the dentist...

Ha! I know what you mean. I went through the same thing looking at my credit report. All these bad situations go through my head. But, at then end it's all good... :D
 
I've been reading about S-Corporations... Would you recommend going all out and doing the S-Corp over just getting the DBA?
 
Not at first. It's not needed until you have big bussiness going on. That's just my thoughts.
 
BeatsBuY said:
Not at first. It's not needed until you have big bussiness going on. That's just my thoughts.
Click to expand...

I trust your advice... saves me lots of up front costs to go DBA.. from what I'm reading, that's the long term...

Thanks as usual....
 
According to the 2002 Census...


Geographic Area Name: Ohio
2002 NAICS code: 711510
Meaning of 2002 NAICS code: Independent artists, writers, & performers
Number of establishments: 208
Receipts/revenue ($): 42,831,000
Annual payroll ($): 13,658,000
Average payroll per employee ($): 21,922
Number of employees: 623

=====AND========

Geographic Area Name: United States
2002 NAICS code: 711510
Meaning of 2002 NAICS code: Independent artists, writers, & performers
Number of establishments: 15,862
Receipts/revenue ($): 9,337,795,000
Annual payroll ($): 4,323,426,000
Average payroll per employee ($): 76,079
Number of employees: 56,828

=======

So...

Basically.. It's telling me to move to Cali, NY, or ATL...

:p
 
OHH I had this one lady from a indie label from here first didn't show up on Friday, than showed up late on Saturday last week, to do a cheap $15K production deal for their new album "Blood, Sweat, & Tears"-Alchemist j. but since they showed up late twice, that's $2000 per day late & for studio clients who don't show up, their 35% deposit is gone.

Don't play when it comes to your time & money.

BeatsBuY said:
Also, remember you are running a business and it needs to be treated as such. FRIENDSHIP SECOND! You'll have clients say, "HOOK ME UP". You might already be doing that. This is how you eat. If you were working for someone, you wouldn't just give a part of your pay away to someone. It's the same thing. You time is valuable. And they need to understand that.

That's why hang up your policies on the wall. And live by them. You can give breaks sometimes. But, make guidelines.

Ex: - If a client books a session and doesn't show up without ANY notice or good reason, that's a $50 fee. They just left you in the studio waiting. You lost money and could have booked someone else that asked.
Click to expand...
 
Don't forget Tennessee.
Cali (LA), Ten (NASHVILLE). & NYC are the larger music oriented places in the U.S.

peritus said:
According to the 2002 Census...


Geographic Area Name: Ohio
2002 NAICS code: 711510
Meaning of 2002 NAICS code: Independent artists, writers, & performers
Number of establishments: 208
Receipts/revenue ($): 42,831,000
Annual payroll ($): 13,658,000
Average payroll per employee ($): 21,922
Number of employees: 623

=====AND========

Geographic Area Name: United States
2002 NAICS code: 711510
Meaning of 2002 NAICS code: Independent artists, writers, & performers
Number of establishments: 15,862
Receipts/revenue ($): 9,337,795,000
Annual payroll ($): 4,323,426,000
Average payroll per employee ($): 76,079
Number of employees: 56,828

=======

So...

Basically.. It's telling me to move to Cali, NY, or ATL...

:p
Click to expand...
 
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