Another blog I really enjoy reading (actually it's more like a news reader) is Hypbot . They recently ran a blog entry about what successful entrepreneurs do (see below). It struck a chord because I have persistently complained that most labels/artists aren't willing to embrace the business part of the "music business". In December, 2007, I wrote a blog entry called Required Business Toolkit For Artists. I haven't looked at it in a couple of years. So I wondered if any of my recommendations would be obsolete.
Even though I might add several items to this, I still consider it all of the items to be essential if you are going to run a music business. I'll give it some thought and come up with a new list sometime in the future.
Here are the eight things that Hypebot listed:
Think Niche.
Serve Your Needs First.
Stand Out.
Craft a Story.
Don’t Fear Technology.
Delegate.
Learn Everything You Can. Never. Stop. Learning.
Be a Work In Progress.
I really think that each of these are self-explanatory. Together, this list is a great litmus test to judge the health of your business.
So, I applied each of these criteria to my own business. Its not easy pointing the microscope at yourself. I think that BFM does very well in most of these areas. But, as I became more honest with myself, I identified areas of improvement.
So I challenge all artists and labels to apply this test to your business – not your music. I'm sure that it will help point you in the right direction.
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