NAMM You Are the CEO: The Entrepreneurial Musician

You Are the CEO

The Entrepreneurial Musician

Presented by Keith Hatschek, University of the Pacific

NAMM Conference, January 19, 2012

“The Initiator”

Annie Downs

The Music Industry Has Morphed

Music is now found in more places than ever before in history

Musicians are working up front and behind the scenes at some of today’s most exciting companies

The era of monopoly is beginning to fade in many areas of music and entertainment

“New Ideas – New Tools – New Rules”

Companies Still Count . . . But Ideas Count Even More

Ideas are the new form of exchange in today’s entertainment world

Ideas that attract an audience are the foundation of new business

Examples

Funny or Die

MOG

Pandora

Why Think & Act Like a CEO?

You are in charge of your future

Challenging

Exciting

You will earn respect, money and status!

Fly First Class!

The CEO Mindset

Hungry for knowledge, not just information

Can focus and achieve immediate goals

Not afraid of hard work and more work

Ability to motivate, inspire and lead others to help them succeed

Ability to attract supporters (emotional and $)

Can respond to, and take advantage of new situations, even when risk is involved

Mistakes & Failures Are Needed

Without experimentation, you will not become a successful CEO

Use mistakes or setbacks to inform how you can improve your plan, process, product or service

No CEO bats 1,000 -- you only need a few successes to build and sustain your career

CEO Success Stories

Amanda Palmer, DIY Artist

Benjy Grinberg, Label Founder

Tish Ciravolo, Guitar company founder

What did they know that you don’t?

CEO Amanda Palmer

CEO Benjy Grinberg

CEO Tish Ciravolo

CEO’s Playbook

Take your passion and turn it into a business

Learn how to:

Leverage ideas & applications to . . .

Create products & services . . .

That will attract an audienceI

Use audiences to help you refine your offerings – “crowd sourcing” – it really works!

Be relentless in pursuit of success, as defined by YOU! (not the “industry”)

Brain Food for Music CEOs

Gerd Leonhard -- “Friction is Fiction”

Seth Godin – “Permission Marketing” & “Poke the Box”

Chris Anderson – “The Long(er) Tail”

Malcolm Gladwell – “Outliers”

Ignore feeding your brain at your own risk!

Music CEO “How To” Guides

Peter Spellman – “Indie Marketing Power”

Angela Beeching – “Beyond Talent: Creating a Successful Career in Music”

Music is “Information”

Music is part of more business opportunities than ever before

Music can provide a unique “signature” for a brand or band

Music can be monetized in a multitude of ways in addition to a CD or download

Internet radio, video games, TV and film syncs, music apps, customized music, commercials, value added music (T-Pain and Bjork apps), clothing with lyrics, etc.

Generating “Big Ideas”

What do Amazon, iTunes and Sheet Music Plus all have in common?

Develop a way to solve a problem, save time or money and you may be have a profitable “Big Idea”

Big Ideas generate energy and heat and end up gaining support for their CEO

Three Steps towards CEO-dom

Set Attainable Goals

Include a timetable, a way to measure progress and don’t be afraid to start with baby steps

Craft an Action Plan

Map out step-by-step what it is you will do to attain your goals. Include who else is involved, their roles and how your plans will be measured and adjusted as you progress

Maintain a Constant Feedback Loop with Your Audience

“Listen to your audience; and they will listen to you.” – Nile Rodgers

Create Your Own Start . . .

“Starting a project . . .

“Let’s Talk It Over” – CEO Lil’ Wayne (Young Money Entertainment)

This entire presentation can be found at www.hatschek.com/careertools

Email questions/comments: khatschek@pacific.edu

More reading on music careers

“How to Get a Job in the Music Industry” by Keith Hatschek

Includes chapters on networking, goal-setting, personal achievement, etc.