Music for Profit

(photo credit: greekadman)

In The One Minute Manager by Blanchard, Hutson, and Willis, you will find four simple rules for succeeding with any business. I am fascinated by these rules for two reasons:

2. I know of too many businesses that struggle because they IGNORE these rules.

Over the next few days I’m going to share with you why these rules are ESPECIALLY important if you’re a musician or work in the music industry.

Whenever I consult, study, or work with a business, all of the problems, principles, success and guidelines seem to pertain to one of these four rules.

Why Do These Rules Matter?

I assume that you are reading this because you want to increase the profits that you earn in the music industry. (If my assumptions are ever wrong, please reply and tell me!)

Every successful business that I know of managed to adhere to these rules, whether they understood that or not. Furthermore, the businesses that neglected these rules struggled, or even shut down.

So here are the four rules:

1. Earn more than you spend
2. Collect your bills
3. Take care of your customers
4. Take care of your people

Which of these four principles jump out at you as one that might want to learn more about?

Warm Regards,
Mike

P.S.-  when you have a chance, check out The One Minute Manager, it’s a short and entertaining read about the development and struggles of a small company.