Management

Competition is fierce in the music industry, all genres.  More of a struggle for an artist who doesn’t have the backing, or someone to help oversee his/her career, than it is for an established manager to break into the industry.  Now when it comes to a point where there are two individuals working towards the same common goal, with an added source of help, the competition then takes a different turn.  “Artist managers are persistent.  Persistence in this environment is a quiet determination without being pushy.  Remember that to be effective, the manager must navigate around gatekeepers, and an overly aggressive style can be offensive to some of those whose help is needed on behalf of the manager’s artists (Paul, 2011, p. 10).”

            There are more artists out there than there are mangers.  My goal as a manager is to work with a certain number of individuals, which then gives me the time to pay more attention to my artists’ brand and image, other than having to deal with a thousand headaches.  There are many different management companies that have way too many artists, way too many projects, and at the end of the day they cant execute every obstacle; moves then become premature.  On the same note, there are management companies that do a tremendous job with their artist; building brands, images and creating a community of fans.  How I plan to break the mold and stand out from other managers and management companies is by having a more business-personal relationship.  Meaning that I will be more than just a manger.  I plan on being a mentor, a confident, friend; but still know that business is business.  I also plan to have a brand that creates a legacy for my artists. Image is everything, and I will not back an image in the media that’s not portrayed in the music.  The hip-hop genre is evolving, and I plan to evolve with it. 

 As a manager, funding for an artist is critical; planning also plays a critical role in the ability to have adequate funding.  Forty to fifty percent of all business ventures fail in the first five years due to inadequate funding, therefore there should be different streams of revenue for the business; don’t work for the money, but make the money work for you.  Opportunity cost should also be taken into consideration when operating a business of this nature.  “The manager of an artist in the music business forecasts the need for members of the artists, and plans for the time when services will become an expense to the operating budget for the artist.  The manager also draws away any other necessary resources together, creates a logical structure for the organization of those resources, develops a career plan, and executes it.”