"Just Sign Here."

“Just sign by the X,” says the record exec as he leans in towards the artist.  The artist, who appears to be a young man approaching his thirties, sits there contemplating, but only vaguely reading the lengthy contract as he turns page after page. 

Before the sweat on his forehead can be visibly seen, the artist reaches for the pen and begins to sign a contract that does nothing more than make the record label rich off of his successes.

Unfortunately, this is a scenario all too familiar for many artists. Knowing your business is something that all artists need to know.  This is the situation for many artists who come to the deal by themselves.  Having a manager who is a trusted advisor is like having a family doctor or dentist.  This is someone who you rarely question, because you know that they are making decisions in your better interests.  Having a manager allows you to focus on what you do best.  The manager can handle business while you focus on your music.  At the end of the day, you need a strong team around you.  Some people want to think that they don’t need anybody, but in all reality, we all need somebody.  As a music artist by yourself, you can be good, but with a team you can be great.

One of the best examples of artists who did not have a strong team around them is TLC.  As young artists these ladies had the talent to get them that rare opportunity that so many artists pursue.  The problem, however, for these young ladies was that they lacked the proper support team.  This ultimately led to them signing one of the worst record deals of all time.  This Grammy award winning multitalented trio of women sold millions of albums to only make peanuts.  Well…okay, they made a little more than peanuts, but not by much. 

As the late Lisa Left-Eye Lopes explained in their 1999 VH1 Behind the Music special:

This is how a group can sell 10 million records and be broke, and everybody get ready to do your math. There are 100 points on an album, TLC has seven; every point is equal to 8 cents. Alright, seven times eight is 56 cents. That means every time an album gets sold, TLC gets 56 cents. Sell 10 million records: $5.6 million. So, LaFace Records had to spend about $3 million on [CrazySexyCool], so that automatically gets deducted from the $5.6 million before we can see a penny. Now, we have $2.6 million dollars left to split between the 3 of us. Well guess what? When you have that much money you’re in the about the 47, 48, 49% tax bracket, so that immediately gets deducted to $1.3 million.

The profit is then split three ways, with the additional funds going to managers, lawyers, accountants, and others.  Each member of TLC took home approximately $50,000 that year.  This, ladies and gentlemen, is why you need to know your business.  Knowing your business will help you to understand the music business as well.  You can’t be in the “music business” without the “business”.

Getting the record label to say, “Yes”.

The ultimate goal for an artist is to get a deal and have their sound be heard by the masses.  So many young artists strive to reach this goal, but have done little to be prepared for the opportunity.  For aspiring artists, there are not many textbooks that boast that they have the guaranteed steps to success and there is little to no information available for preparing the artist for if and when the label says, “Yes”.  So…let’s be realistic. There is no for sure method to guarantee success and while music combines are being held to help educate the ambitious artists, many artists are still not equipped to take their act to the next level. 

As much as I feel that I am educated on this subject, I still cannot say even I can provide an artist with the top strategies to guarantee success, but I can share what I believe is the top methods an artist should use to become more efficient and effective. 

The first thing any artist should realize is that this is the road less traveled. Don’t get hung-up on where you are career wise and start looking down on yourself.  This will result in becoming depressed, upset, and nonproductive.   Second, own your craft.  What all artists have is a unique skill.  Take ownership in that.  Just be aware that your skill is what gets people to hear you, but your image is what gets people to listen. 

This third strategy could easily be the most important.  “Know your business”.  You can bet if you don’t know your business, the label will, and make you pay them for it.  Register your name, register with SoundScan, and surround yourself with people you deem as assets.  Consider yourself a small business, because in all reality you truly are.

Having a goal is great, but a goal without a plan is just a dream.  Take the proper steps to make your goal a reality, and then seize the moment.