Saturday, June 7, 2008

Music Producer Get Money

Below is my response about an emerging music producers frustration with the music business. Perhaps there's something you may take away from this Get Music Money Blog.

For sake of conversation there are two time frames for becoming independently wealthy one is in the short term the other is in the long term. If one starts early anywhere between 18 to 30 years old and socks away enough money ($50 to $200 a month) month after month in a no-load index mutual fund they can pretty much assure that they'll hit millionaire status at some age around 55 or so, give or take a few years depending on when they started investing and how much they invested monthly mind you.

Then there's a number of ways to becoming independently wealthy that stretch the imagination. For time sake let's agree that at the other end of the stick in order to become independently wealthy you can win the lotto or lottery.

You have a far greater chance of becoming wealthy from investing on a constant basis than you do hitting it big by playing the lottery.

SOLUTION:

Find those things in the music business that are akin to becoming a commercial success that would mirror putting away small amounts of money to becoming independently wealthy over time. For instance, why not find one to three hot artist that you sign to a development or production deal. Create their sound and help them become a success, as the music producer you will shine, because they are shining. Some of the most notable music producers in Hip Hop and R&B have used this formula and created independent wealth. Some of them include Dr. Dre, Timbaland, Diddy, DJ Toomp, Jermaine Dupri, RZA, Quincy Jones, Bryan M. Cox and others. Perhaps you could use this proven method to increase your chances for commercial success while going after that major label placement in the short term. One of them is bound to work.

As far as people calling you back. It's been my experience that everybody in the music business is running around doing this and doing that. If people see how they can make money off you or with you they'll go the extra mile. If people like you they'll go the extra mile. If people aren't sure how to tell you no, because you have a friendship (or so we think LOL) they often want call you back. I think this is a function of human nature or inexperience saying no as an adult. :-)