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Music Funding – Making a Music Business Plan to ensure your spending. An LW Music Business Speaker, Consultant & Author Blog Video.
With apologies to Chuck Lorre, Richard Lewis and Two and a Half Men, this is a music funding video giving an example of bad preparation and bad spending vs having a well prepared music business plan and well designated spending.
Musicians and bands need to spend money on studio time, on marketing and on the other numerous line items to create a successful profitable band that will eventually go from red to black. However, many bands spend recklessly and are not building up a reserve or a return on their investments or even worse a return for the others investing in them. The money can just get sucked up….
Investment risk management comes down to preparing the best plan for the best chances at music funding and the expenses that need to be allocated for while at the same time saving as much as possible as well. Working to reduce the risk, as best you can for your self and those investing in you.
This is the difference during an artist development phase of the smarter band finding the money to invest in to a music business plan, instead of spending all sort of extra money in the long run to get the same desired results from series of smaller costs that end up costing so much more in the end.
As a music consultant, I really push the concept of budgeting, organizing and maximizing the savings in the long term so that success and profit can occur sooner. The smart investment planning in the beginning can create savings down the line. Yes it may cost more and you may have to borrow, but it will save you much more in the long run and allow you to see profit much faster.
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Loren Weisman
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Business Advisor, Speaker & Author Loren Weisman organizes, optimizes and implements individualized branding, marketing and content plans for start up and established businesses. Weisman is a managing partner and co founder of Leveraging Smart Inc.
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For more about Loren Weisman and his current projects, visit:
http://lorenweisman.com/
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For more on the Business and Entertainment Advisory Group, Leveraging Smart, visit:
http://leveragingsmart.com/
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For more info and to purchase Music Business for Dummies available in paperback and eBook, visit: http://musicbusinessfordummies.com/
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For more info and to purchase The Artists Guide to Success in the Music Business available in paperback, eBook or Audio Book, visit:
http://artistsguide.net/
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