Join Steve Rennie for an in-depth discussion in this video Maturity phase, part of An Insider's Guide to Today's Music Biz 03: Treating Your Career as a Business.
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- In the music business, that maturity phase…will look something like this.…Your band has broken big, your music is all over the radio.…Not just in your own country, but around the world.…Those days of doing cover songs in some slimy bar…are a distant memory.…Today you're playing the big prestigious venues…around the world.…You're invited to play at all the top festivals.…You're not dragging your gear to the van anymore.…You've got a whole team of people doing that for you.…For years, you played gigs for chump change…but now, you're making hundreds of thousands…of dollars a night.…
Things are starting to have a bit of a routine.…Making albums and touring…becomes a predictable cycle.…And for the first time in your life,…you now have some real financial independence.…At this point in your career life cycle,…you have some new things to think about.…Where early in your career,…you were fueled by this burning desire to succeed…and were prepared to do whatever it took.…Now, you'll have to resist the temptation…to take your success for granted.…
He talks about hobby versus career and the key elements of success in the business world, from distribution and marketing to management and finance. He gives you some thoughts about how you apply those things to your music career. Since successful businesses don't happen overnight—they develop over time in identifiable stages—Steve also covers the stages of development in the business life cycle and how that applies to your music career. Last but not least, he offers tips on drafting a band agreement that will keep the relationships professional and strong.