The David Andrew Wiebe Show

Is it time to move? Are you looking to relocate, either for the sake of your music career, or for the sake of your own well-being?

In this episode of The New Music Industry Podcast, I share some thoughts on my last three moves.

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Podcast Highlights:

00:14 – Reasons for moving as a musician

00:41 – Moving may not be fun, but at times it’s necessary

00:51 – What I’ve learned from three separate moves

00:57 – My latest move

02:20 – Moving can improve your quality of life

03:30 – Sometimes hard decisions are only made on a deadline

05:04 – Moving can shake up your habits and routine

06;18 – Moving may force you to innovate

07:59 – Summary and final thoughts

Transcription:

I haven’t heard anyone say moving is their favorite activity.

And yet, for a musician, the need to move can arise for a variety of reasons.

You may find yourself:

Wanting to leave an unhealthy situation.

Able to afford a better living space, and therefore a better quality of life.

Needing to relocate due to new career opportunities.

Wanting to move in with your significant other.

On the hunt for a more affordable place, because you want to streamline your lifestyle.

Or otherwise.

Moving may not be fun, but at times it is necessary. It’s surprising how many music blogs talk about the importance of location, and yet leave the topic of moving entirely unaddressed.

So, here are some of my thoughts on moving, and what I’ve learned from three separate moves since 2012.

My Latest Move

Things have been anything but the same old, same old for me since returning from Japan in November 2017.

There were several minor setbacks, as well as some major ones. The biggest of all was my car breaking down. I ended up replacing it urgently.

Little did I know there was another challenge waiting for me on the heels of the last.

Things started changing at home when a longtime roommate moved out. A new roommate moved in shortly after, and let’s just say he wasn’t entirely stable.

This quickly prompted the need and desire to find a new place to live. In some ways, I had been putting it off anyway, and had been putting up with a lot of nonsense where I was living in the interim.

As I write this, I’m not fully moved in to the new home. We just took possession of the place today.

And when I say we, I mean I decided to find a place with a fellow entrepreneur and friend. We knew that splitting the costs would allow us to afford more house. We also felt it would save us from winding up in the same situation again.

Moving to a safer, healthier, and cleaner environment quickly became a major priority, especially considering my goals and life as an entrepreneur.

A stable, peaceful, and consistent environment is what an entrepreneur requires to do their best work, because we’re always trying to solve huge problems with our businesses. Unfortunately, this sometimes leaves us with little time and energy to deal with the smaller problems that arise in our home lives.

Here are several other things I’ve learned from my recent moves.

#1 – Moving Can Improve Your Mood & Quality of Life

With my latest move, my spirits were lifted, almost instantaneously, as I left an unhealthy environment and found myself in an entirely new one.

This is the only time this has happened in the last three moves. When I sold my house in 2012, I was having to move an entire house into a basement suite. So, while this did relieve a lot of financial pressure, my quality of life didn’t exactly get better. I found myself on the far eastern outskirts of town, which wasn’t exactly known to be the safest.

With the next move, I was simply moving from one basement to another. My parents referred to my new room as “the dungeon”, if you’re wondering exactly how much of an upgrade that was.

But with the latest move, I feel like I’m getting a fresh start. After spending a bit of time in our new home, my friend could see right away that there was a shift with my mood and energy. A big weight was lifted from my shoulders after leaving the last house behind.

Though I never advise anyone to increase their lifestyle too fast, if you find yourself in a position where it makes sense financially to upgrade, then it’s good to know that moving might open new channels of creativity for you.

#2 – Sometimes You Only Make Hard Decisions on a Deadline

One of my favorite Japanese pop duos is CHAGE&ASKA. In the liner notes of one of their albums, they noted the fact that it seems projects can only be completed within the strict confines of a deadline.

Projects can only be completed within the strict confines of a deadline.Share on X

It’s easy to daydream about what it would be like to have unlimited time to work on your creative projects as an artist. But as fun as that might sound, if you didn’t have clear guidelines for your projects and you weren’t disciplined, you would probably end up starting way more projects than you could realistically finish.

With the latest move, there was limited time for me to plan and pack. Realistically, I knew I couldn’t bring all of my stuff with me, because I knew I would be moving into a smaller home. I’m not a packrat per se, but I do have a bad habit of holding onto a lot of things, mostly because it’s easy for me to create an emotional attachment to them.

For this move, I forced myself to think in terms of just the essentials, and the most valuable items I possess. I decided everything else could be put into storage, sold, given away, taken to the trash, or simply left behind.

I’ve had the desire to be a minimalist – or at the very least an essentialist – for a while. Since there wasn’t much time to figure everything out, and I needed to act fast, I simply took the opportunity to triage and streamline, and I know my life will be better for it.

I’ve talked about being a channel and not a dam before. I think that philosophy applies here too. Create outflow in your life, and you’ll begin to see new inflow. The act of giving, selling, or eliminating things you no longer need, in my experience, can lead to some incredible blessings.

#3 – It Could Lead to Changes in Your Habits & Routine

Let’s say you move from a closed-in apartment complex to a suburban house where scenic walking paths are plentiful. Would that inspire you to take more walks to clear your head, stimulate your creative thinking, and improve your health?

Even if you only end up moving 15 minutes from your previous home, which is what I did, you will probably find yourself frequenting different stores, and potentially utilizing businesses and service you never did before.

That gets you out of your regular routine. Maybe you like your routine, and you tend to avoid change. But sometimes without change and new stimuli, your creativity can suffer, and you can end up becoming too comfortable.

Perhaps moving to a cleaner, nicer house would inspire you to spend more time organizing and cleaning. Maybe it would cause you to wake up and go to bed earlier so you could get more done during the day.

Moving can shake you out of your regular routine and cause you to evaluate how you’re doing things right now. Routines need to change based on how your goals evolve. Sometimes people forget to adapt based on what’s important to them right now, blindly living out the same routine without questioning it.

If the definition of insanity is trying the same things expecting different results, then we are all insane at times.

#4 – You may be Forced to Innovate

You pack all your boxes, carefully move them out of your old home one by one, and then into your new home. But what’s this? You can’t seem to find what you’re looking for! You could have sworn the item you’re searching for is in one of three boxes you already checked.

This happens all the time. Moving is generally a process, and not a one-and-done activity. It can take time to settle into a new place, and when you first move in, there’s a good chance you don’t have everything set up the way you want it to be.

Maybe your agenda goes missing and you end up having to reconstruct it from memory. Maybe the internet guy can’t make it out to your house to set up your router for a full week. Perhaps you threw out your old desk and ordered a new one to be delivered later.

Whatever the case, the temptation is generally to get frustrated and not do anything when things aren’t going the way you want them to go. I would argue that this is an opportunity to innovate and rethink your approach, even if you only apply it to your situation temporarily.

Entrepreneurs are problem-solvers. And even if you don’t consider yourself an entrepreneur, you’re likely a creative, so here’s an opportunity to put that creative brain of yours to good use.

Innovating can boost your self-confidence and can even lead to new creative ideas. If you feel like you’re stuck, begin thinking of alternative solutions to your problems. I find most people don’t, and just make excuses for their lack of imagination.

Try James Altucher’s idea generation method. He says he doesn’t go to sleep without coming up with and writing down 10 ideas (typically, 10 ways to improve something, such as a business). Not every idea you come up with will be any good, but imagine all the options you’ll create for yourself over time. In just 10 days, you’ll have 100 fresh ideas to work with.

Summary

Sometimes, moving can improve the quality of your life. This may be a pressing necessity rather than just a decision to live “the good life”, as it was in my situation.

When you make that transition, you may find yourself performing at a higher level, accomplishing more in less time, and taking hold of newfound inspiration.

If you find yourself unable to make up your mind about what to purge, give away, sell, or keep, putting a hard deadline on your move can help you triage a

If you want to win, you must be in the fight. But you can’t be willy-nilly about that decision, or you’ll just get crushed. So, are you still in the fight?

In this episode of The New Music Industry Podcast, I talk about how to determine if you’re still doing everything in your power to move your career forward.

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Podcast Highlights:

00:13 – It can be easy to become complacent in your career efforts

00:41 – Getting back in the fight

01:17 – How to figure out if you’re still in the fight

01:21 – Are you still hungry?

02:31 – Look at your schedule and make an honest assessment of your priorities

03:56 – Assess your spending habits

05:08 – Summary

Transcription:

I recently shared about how easy it can be to become complacent in your pursuits as a musician or entrepreneur.

No sooner did I publish that podcast episode when suddenly I realized I had more to say on the subject.

If we want to keep growing, we need to keep learning. When we become too comfortable in what we know and what we’ve accomplished, we become less teachable. As result, we’re less likely to learn from our mistakes. We’re less likely to keep doing the things that got us ahead in the first place.

Getting back in the fight means returning to those core fundamentals and doing the right things to stimulate growth. As we generate value, it returns to us multiplied. We don’t get to choose how or when that happens. But if we keep adding value to those around us, we will reap a harvest at the appropriate time.

Staying in the fight means doing the right things to stimulate growth in your life.Share on X

You may still be in the fight, and if you are, good for you. Keep going!

But if you’re not sure if you’re fully committed to your goals and dreams yet, or you feel like you may have gotten off track in some way, you’ll want to consider whether you’re still in the fight. Here are…

3 Simple Ways to Evaluate Whether You’re Still in The Fight

1. Determine Whether You’re Hungry

When I say “hungry”, I’m not asking whether you’re feeling hunger pangs in your stomach, as much as that can be a strong motivator.

I’m asking if you still have the desire to learn and grow.

When you’re hungry for knowledge, you will go to any length to learn what you need to know to make progress in your career and life. Nothing will stop you on that path.

When you’re hungry for knowledge, you will go to any length to learn what you need to know to make progress in your career and life. Nothing will stop you on that path.Share on X

If you aren’t all-in, your desire to learn and grow may be smaller than your desire for comfort. So, you won’t risk yourself as much. You may still put time and effort into your learning, but you won’t go the extra mile as a person who’s hungry for growth would.

So, if you’re seeing possibilities and opportunities ahead, and you aren’t taking proactive steps to move in their direction, you probably aren’t hungry.

Unfortunately, in my experience, it’s impossible to make yourself hungry. Until you feel the tension between where you are and where you want to be, you may have no desire to change. The good news is if you’re surrounded by people who want to see you succeed, you will likely feel the urge to make forward progress in due time, especially as you watch as others take their careers to greater heights.

2. Look At Your Schedule From The Past Month

Make an honest assessment of your priorities based on what you did this past month.

Actions speak louder than words. I would even go so far as to say actions reveal a person’s motives more readily than their words.

Actions speak louder than words. I would even go so far as to say actions reveal a person’s motives more readily than their words.Share on X

There is no one truly mysterious in this world, because you can learn exactly what they’re about just by watching what they do. Quiet, vague, or private people are relatively easy to figure out if you spend enough time around them.

But let’s get back to the subject of you, because that’s what we’re talking about right now.

What does your schedule say about the reality of who you are, versus the ideal you see in your mind’s eye?

Were you watching Netflix when you should have been writing music? Did you get distracted by Facebook when you should have been sending emails to promoters, event organizers, and venue owners? Did you go out with your friends when you know you should have booked one more rehearsal before an important gig?

It’s understandable that you might take the occasional break or lose your focus here and there, but you’re simply not in the fight if you haven’t been taking the steps necessary to get to where you want to go. You’re not fully engaged if you’ve only been doing a little here and there and poking at your projects instead of staying consistent and doing something daily to achieve your goals.

If you’re in the fight, your schedule will reflect this fact.

3. Assess Your Spending Habits

In addition to your schedule, how you spend your money will also reveal your priorities, sometimes in unexpected ways.

How you spend your money will also reveal your priorities, sometimes in unexpected ways.Share on X

If you’re serious about your growth, your money should be going towards books, audio or video programs, courses, conferences and events, magazine subscriptions, membership dues, and so forth.

If you’re serious about your music career, you should be investing into your music, merch, and marketing.

But is this where your money is going?

How much are you spending on eating out, movies, video games, and other forms of entertainment? How much of your money is going towards home or car loans, credit cards, and other forms of debt?

Your money says something about the standard of living you desire as well. It’s easy to find people living beyond their means, because they are unwilling to delay gratification or sacrifice short-term for something they want now.

I’m not suggesting that if you’re in the fight, all your money is going into your personal or career growth. But there’s a good chance you are comfortable with the idea of investing in yourself, and you’re proactively looking for opportunities to do so.

Carefully evaluate your spending habits, and you will soon see whether you’re spending is in alignment with where you see yourself headed in your career.

Conclusion

If you want to find out whether you’re still in the fight, you have but to consider three things.

First, your strong desire for knowledge and growth will cause you to actively seek out resources and mentors that can help you make progress in your career.

Second, your actions will be aligned with your goals. You will have wasted little time on trivial activity. You will have set your priorities intentionally and built your schedule around actions that benefit you.

Third, your money will have gone towards products and services that support your goals and desire for growth. You will have wasted little money on nonessentials.

If you aren’t in the fight right now, it’s never too late to get back in the ring for another round. So long as your heart’s still beating, you can take as long as you like, and get back in as many times as you wish.

If you’re in the fight, rest assured growth will happen. All you have to do is stay the course!

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Do you find it difficult to make money as a musician? Does it seem like reaching your goals is a major struggle? In this episode of The New Music Industry Podcast, I interview DeCarlos Garrison of Bandbasher, and he explains why it is possible for musicians to achieve their desired level of success, even today.

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Podcast Highlights:

00:14 – Introductions

00:24 – What is Bandbasher?

01:00 – How does a musician get noticed?

01:35 – What makes the music industry so complex?

02:32 – What are the unique challenges experienced by musicians today?

04:01 – There are great opportunities for today’s independent musician

05:01 – Why is it important for musicians to understand the business side of music?

05:50 – Is it possible for every musician to achieve their desired level of success?

08:02 – Why create a business serving artists?

09:51 – How do you sell information in an age when it’s so commoditized?

13:22 – What are some of the biggest struggles you’ve encountered as an entrepreneur?

15:57 – What are some of the biggest victories you’ve experienced as an entrepreneur?

19:31 – Are there any books that have helped you on your journey?

20:39 – What tools and apps are you using to run your business?

21:37 – Final thoughts

Transcription:

David Andrew Wiebe: Today, I'm chatting with President, CEO, and co-founder of Bandbasher, DeCarlos Garrison. How are you today DeCarlos?

DeCarlos Garrison: I'm great David. Thanks for having me onboard.

David: Yeah, thanks so much for joining me today. So, for those who don't know, what is Bandbasher and how does it help musicians?

DeCarlos: One, Bandbasher actually teaches the artists and the people in the music business in itself. We always feel that artists are undiscovered not from lack of effort but more sort of lack of knowledge. And so, with that being said, our goal is to educate them on the process to be successful whatever their term of success is in this industry.

Artists are undiscovered not from lack of effort but more so from lack of knowledge.Share on X

David: That's fantastic, and you make a great point, which is that a lot of musicians do work hard to get noticed. But what sort of knowledge are they lacking to get noticed?

DeCarlos: Actually, it come down to most of the lingo part, right, of understanding where the money is and how split sheets work, publishing work, and how you're seeing licensing, and how you can make money off your music. I think it's more of they understand that you can make money, but I think it's more to a point of how to make money is kind of throwing them off and getting comfortable with that lingo.

David: What makes the music industry so complex? Why do so many musicians struggle to find traction?

DeCarlos: With that being said, I think it's a couple of variables. Like right now it's so many opportunities to be in the music business. So many ways to get your music out in the outlet. Well, back in the day where it wasn’t… I mean our lessons are on their way to really be heard or be seen or get started with a label. And the label kind of like you know – was like the dam, right? So, they only let a small amount of water to throw the artists through to actually get into the industry. Now, there's no barrier, no dam. This is open flow. And now it's just flooded. So now there is a whole lot more to be noticed. Easier to be in the music business, but to be noticed and have a career is harder.

It’s easier than ever to be in the music business, but getting noticed and building a career is harder than ever.Share on X

David: What are some variables that make it harder for musicians right now?

DeCarlos: I guess the separation, right? It's the fact that I think artists don’t understand the value of their data is one. The second part of a barrier I believe is that the fact that there's no A&R of artists. There's no development of artists. So therefore, they kind of like develop their selves. They are kind of like seem to just… in my opinion, they seem to just, "Oh, this sound is working so let me do this sound." Right? I'm not saying that copycat styles haven’t happening a lot regardless. But back in the day this wasn't tolerated. Now, it seems to be okay to sound like somebody else, because so many people… and so many fans eventually become a fan of the sound, not a fan of the artist.

David: And to your point, like 30 – 40 years ago, you might have heard of development deals in which labels sort of took a chance on artists and gave them an opportunity to grow into what they saw the potential of them becoming. But today, you basically have to have a crafted image, and brand, and talent, experience, skill, knowledge, the whole works if you ever expect to be signed by labels, which isn't necessarily the best thing to aspire to for artists today. Some may still choose that route, but there are so many great opportunities for independents today as well, don't you think?

DeCarlos: Oh yeah, definitely. And Bandbasher is definitely.... We're not anti-major or pro-indie. We just want you to make the best decision for yourself. So therefore, at Bandbasher if you decide to – “I want to stay independent”, then we have tools in place that will support your effort in how to give you some of the tools that major labels are using right now with their artists. But if you choose that you want to actually be signed to a label, then that's okay too. We want to make sure we prepare you for that process as well. So, in hindsight, we do have elements on our site that will teach you A&R, how to develop your sound and how to actually figure out where you're going and how many shows it takes to be successful and things like that.

David: That's great. Thanks for clarifying that. Why is it important for musicians to understand the business side of music?

DeCarlos: Oh man, because that's really how you feed your family, right? Like you know we spend so much time on our art, developing our art. Why wouldn't you spend just as much or not more time on the business side, so you can benefit from your art? Because everybody else wants to benefit from your art. Why shouldn’t you?

Everybody else wants to benefit from your art. Why shouldn’t you?Share on X

David: So true, because you could blindly create and keep making more and keep making more without any regards to the art and how it's being monetized. Pretty soon you could be in a position where you're exploited, perhaps by a third-party company or potentially a label or manager or something like that. So, it's really good to be in control, I think, of your music and what you do with it. Is it possible for every musician to achieve their desired level of success given the right circumstances?

DeCarlos: To me, I feel yes. Everybody is not going to be Madonna, Beyoncé, or any of these huge celebrity stars right now, right. It's only a certain few that's going to have that kind of breakout success, right, where they can do all those things. But if you can make, and you can, you can make six figures as just a touring musician or a touring artist you know. You can make enough to feed your family, pay your bills, have some nice vacations, and get paid to do what you love to do. So yes, I definitely believe that because I think success is based on a person, not what others think you know.

David: I think a lot of artists would be surprised to hear that you could go on the road and make six figures. That sounds like some pie in the sky dream, but you and I know that it isn't, and there are artists out there that have proven themselves and shown that it is possible to do that very thing. And using some of the tools that you have would certainly assist in that process.

DeCarlos: Yes, definitely. Definitely. And this is what we designed it for. The funny part is that when we started to design it, we didn't design it for the megastar. We designed it for that everyday working artist that had the dream that is still working a nine to five but every evening or every weekend they find somewhere to gig and just to play. You know what I'm saying? We can find a way to increase static, increase the way they go about doing it and how can they "Okay, fine. I got this show right now but how can I double it?" "Well, I got two shows like this a week" and keep doubling from that point on to expand your area. So, some days we try selling. Like don't look at it as, “Oh, it's a huge task.” Let's take it one bite at a time and gradually increase that.

David: That's right. One step at a time. I love it. I want to switch gears and ask some business-related questions. Of any industry, music might be one of the toughest to succeed in today, why create a business serving artists?

DeCarlos: Well, to be honest it was never set out to be a "business". It was set at first just to help people. In the process, we realized that, okay, we may need to turn this to a business so that we can keep helping people. I spend hours on the phone with artists I work with. Either those that I manage or those I just knew that was artists and just giving them advice on what they should do and how they should do it. It's just that people need this information, so we have to keep the lights on. We're like, "Well, to do this, we have to charge some kind of a fee, so we can provide the best information." So, it wasn't originally thought as to be a business. We just kind of like figured out "Okay. We got to make some money doing it." And I just met some creative people that was good with what they're doing so we brainstormed. And okay fine, how can we make this a very viable tool, right? We know we can make money, but let's make sure that they are viable too for the people we are creating it for. That's what we feel we did.

David: That could be a viable teaching point for entrepreneurs or aspiring entrepreneurs that are listening,...

It has often been said that nothing worth having comes without a fight. Many opportunities come into our lives because the time and effort we put into pursuing our goals and dreams.

Are you making progress in your career at the rate you hoped you would be? Does your schedule reflect this? Does your spending reflect it?

Download the PDF Transcription

Podcast Highlights:

00:14 – The dangers of comfort

01:23 – Am I still in the fight?

02:23 – My 2018 goals may require a different kind of commitment

02:35 – Evaluating how you’re doing

03:14 – Are you still in the fight?

Transcription:

At some point in your career, you will reach a level of comfort. You won't have achieved everything you've ever wanted, but because you're in a much better position than you were when you started, you'll begin to rest on your laurels even if only a little bit.

I bring this up because I've been guilty of getting too comfortable as well, especially in the last five months or so. There are a couple of things that shook up my life in 2017, especially during the summer. My quality of life and outlook has changed considerably as a result of these events, because I have a bit of a social life now, I've been investing in my health, and I've also been taking breaks. So, all in all, these are positive changes.

This year, not only did I leave town for a week, I also went overseas for two weeks. This was as planned, and I don't regret taking time off, because I really needed it. But as I continue to chip away at my to-do list and evaluate my progress, in some ways I feel like I've been slipping a little. I must give myself some grace, because I was in full-out burnout mode before going to Japan. Since getting back, I've caught up with a lot of projects, and I've spent more time on things I care about.

But I still must ask myself one important question – am I still in the fight? Am I writing as many blog post as I could be? Am I publishing as many podcast episodes as I could be? When will I finish my next book? Could I be publishing more eBooks, courses, and books? Could I be coaching more people to reach their goals?  Am I writing, recording, and releasing music at the rate I want to be? Could I be playing more solo shows?

Am I investing in myself? Am I reading books, listening to podcasts, taking courses, and going to relevant conferences and events? If I am, am I doing enough of those things?

Am I engaged in everything I've committed myself to? Am I spending sufficient time on these projects, or am I just getting by? Am I spending enough time with the people I care about? Am I communicating with them? Am I fighting for relationship? Am I practicing generosity? How does my financial and business life look? What is the outlook like for my future?

As I looked at 2018 and the things I want to accomplish, I recognize my goals may require a different kind of commitment on my part. I may need to form a new routine and begin orienting my life around it. As you look to accomplish big things with your music or career in 2018, you may also want to ask yourself if you're still in the fight. You may want to ask yourself many of the questions I just asked myself.

If you're in the fight, you'll be willing to do whatever it takes to reach your goals, but if you aren't fully in the fight or at least to the extent you used to be, you may find yourself cutting corners, accomplishing less, not spending your time where it should be spent, and so on.

You may not be outside of the game, but you aren't fully in it if you aren't fighting. If you aren't fully in it, your work ethic, productivity, and focus will suffer. So, I want you to ask yourself: If you aren’t fully in the fight right now, when will you be? Will you recommit to your success? Will you push yourself to new heights in the New Year? Will you stick to your goals and see your dreams become a reality?

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Live streaming is growing faster than ever. Are you taking advantage of it?

In this episode of The New Music Industry Podcast, John Petrocelli of Bulldog Digital Media reveals what you can do to unleash the full potential of live streaming in your business or career.

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Podcast Highlights:

00:14 – Live streaming is growing fast

00:33 – Introductions

00:41 – What is Bulldog Digital Media?

01:27 – The quality of content you can now stream

02:23 – Why is the live streaming market growing at the rate it is?

04:48 – What is the “experience economy?”

07:15 – How does live streaming transform a business or artist’s career?

10:47 – How can people execute at a high level when live streaming?

12:09 – How can the average musician leverage live streaming?

14:16 – The connection between music festivals and live streaming

18:05 – What are some of the biggest struggles you’ve encountered as an entrepreneur?

21:44 – What are some of the biggest victories you’ve experienced as an entrepreneur?

25:07 – What books, blogs, and podcasts have inspired you?

27:04 – What tools and apps are you using to run your business?

32:37 – Is there anything else we should have covered?

35:04 – Final thoughts

Transcription:

David Andrew Wiebe: Live streaming is growing fast. “How fast?”, you might ask. According to Stretch Internet, internet audiences are viewing more live content than ever before. 81% viewed more in 2016 than they did in 2015. In this interview, you're going to learn more about live streaming. Let's dive right in.

Today I'm chatting with CEO of Bulldog Digital Media, John Petrocelli. Welcome to the show John.

John Petrocelli: Hey, David. Thanks for having me.

David: For those who don't know, what is Bulldog Digital Media?

John: We are a live streaming agency and strategy company. Also, billed as the world's first live streaming agency and most experienced. What that really translates to is we're very focused on premium live experiences and bringing them to life on connected devices for all stakeholders, brands, artists, promoters, viewers, you know, you name it. That's now become a kind of an interesting industry. Our core emphasis in that world is on music, you know performances, festivals, concerts, etcetera.

David: Now, live streaming is something that has been around for quite a while, but the quality with which you can now broadcast and distribute content has changed quite a bit in the last 10 – 20 years, right?

John: It has. That's an understatement. I've been doing this, it seems like forever. In the last several years the landscape has completely transformed, and now you're able to have a near broadcast experience on almost any connected device, which this wasn't really the case several years ago.

David: That's fantastic. And of course, there's a proliferation of social media platforms and Facebook Live and things like that that people are now really getting into, so it makes sense that the quality would only be elevated, and people would continue to engage with that type of content. Why is the live streaming market growing at the rate that it is?

John: It's a great question. My team and I have kind of lived through this period where it was, you know, early on education and a lot of experimentation to now full on growth mode. I think the market itself kind of roared to life and transformed when Facebook not only explored live streaming, then they began to prioritize it. It's Mark Zuckerberg's, one of his passion points at his company.

And then they publicly started to articulate that people are watching live video on the platform three times longer than "non-live". That very much changed the market for sure. I think you're seeing the same strategy evolving at Twitter. They are really pinning their future on the kind of combination of live video with their social platform.

Moreover, I think the world that we're living in today is really now largely becoming an experience economy or people value experience is far more than buying a watch, or a house, or a car. There's this big interest in attending things like concerts and festivals and performances. That's a big factor, but what's also driving this is kind of this dual phenomenon of a massive amount of connected devices entering the market. I think the prediction is another several billion devices will get connected between now and 2020.

And to your point, you've got this explosion of social media platforms, so it's interesting now even though we live in a kind of connected world. The true irony now is people want to have real-time collaborative kind of participatory discussions. What's also adding to all of this is the quality of video, if you will, on a smartphone is now near television-like quality. All of those things have kind of created almost a perfect storm and that's what we're seeing unfolding.

David: One thing you said there that I think is key and I want people to make sure they get this point is that live streaming is driving more engagement than other types of content. That's something that people should definitely be aware of.

Live streaming is driving more engagement than other types of content online.Share on X

The other thing that I loved, and I was going to ask about this anyway, is that term "experience economy". When I came across that, I was sort of chuckling to myself. I'm sure I didn't come up with it, but I've been saying this about business for a while, that it needs to be an experience business. It can't just be a business, especially in a field with a lot of competitors. If you get into it, how do you separate yourself? I think it's by offering valuable experiences, right? So, what is the experience economy?

John: I started to follow a lot of Michael Luppino’s comments, and a lot of things that he would say to the media. I think the music promoters of today are the best reflection of that. These people are creating these immensely informative and exciting –  you could say sensory experiences – at these festivals. So, it's not just these incredible lineups of artists that they've curated. It's food, fashion, art, culture, learning, causes.

I mean what you can experience there is pretty phenomenal. That's why we're seeing a massive interest by the consumer to attend and experience. You're seeing your ticket inventory sell pretty quickly. The big festivals tend to sell out before they announce the full lineup. Several festivals have gone to back-to-back weekends. A property like Lollapalooza is now programmed. Not only the Temple shows in Chicago, but it's Chile, Argentina, Brazil, Paris, Berlin, etcetera.

I think when we say experience economy that has a lot to do with it. I think you're also seeing artists, tours, you know, big artists paired up with each other going out on tour together. A lot of interesting things can happen there. I think the world… Again, if you look through this through the lens of the millennial consumer – that's now I think 77 million people – their interest is let's have an experience versus let's go buy a material possession. I think it all kind of falls into that realm. But what we've seen is the music world is kind of the bellwether there, and what's happening with the festivals, the concerts, and the performances are kind of the driver behind the whole business.

Millennials want experiences, not material possessions.Share on X

David: In your experience, what sort of transformation can artists or business expect when they take their business from maybe something that's a little more flat and a little less experiential to then incorporating something like live streaming? What's sort of the average case study?

John: I think the most exciting aspect of live streaming is engagements and executing experience. I would say best practice which is what we're focused on, is really transforming the viewer into a participant. It's not putting up a webcam and filming a DJ, or a band, or a performance. It's making a very rich and highly engaging digital broadcast. It's the next best thing to physically being there at the festival, the venue, the club, the arena, the lounge, etcetera. That's where we see a lot of interest, right?

If you could have someone tune in for 10, 20, 30, 40, 60 minutes, that's a big win for everybody. Especially Madison app who is now really struggling with how do I connect authentically with the consumer, but more importantly, how can I get their attention, and how can I drive engagements. What I mean by some of those things is we've learned along the way as a live streaming provider – how do we do that? The live video player in and of itself has to load on the consumer device in the first three seconds, or we lose 20% of the audience.

In addition, my team pioneered in the multi kind of channel, multi camera experience. We want to get away from the traditional broadcaster kind of forced television programming. In the streaming world, we can deliver a multi camera or multichannel experience, so you can switch from a stage at a festival or perspective at a concert. So, now the viewer is curating their viewing experience. We're also doing this at a high-quality video production.

The other, I would say equally as important, is the ability to allow the viewer to have a conversation and collaborative participatory dialogue around what they're viewing. Having done a lot of this -- I moved YouTube into this market. We had tools. We learned that sometimes the comments and the conversation, or I'll say oftentimes are – they're offensive, they're not related to the video, they're taking away… The conversation is just not germane to the performance or the artists. So, we've created, or we found tools that would aggregate the conversation but more importantly curate it.

So, now that social stream is completely related to videos....

What does it mean to grow? Is growth a process of addition or subtraction? How do we uncover our true identities as individuals?

In this episode of The New Music Industry Podcast, I share something important I learned while I was on vacation in Japan.

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Podcast Highlights:

00:14 – One layer peeled away

00:34 – The realization I had about a Japanese expression

01:01 – Different ways of viewing growth

01:19 – The process of growth often involves letting go of the past

01:37 – Growth is moving closer to your identity

01:53 – Questions about identity

02:23 – We add layers to protect ourselves

03:06 – Getting to where you want to go may require removing layers

03:20 – Fear of identity

03:33 – You can’t peel back the layers unless you reflect

03:51 – Do you dare to peel back your layers?

Transcription:

"Hito kawa muketa" is a phrase that means “one layer peeled away” in Japanese. This is often said in reference to someone who's changed and grown over time. So, if you saw that someone you knew went through a transformational process and you could see that they had grown through the experience, you would say to them that they had hito kawa muketa.

This phrase came up in a conversation on Facebook with a friend of mine while I was in Japan earlier in November. I mentioned to her that I was enjoying my experience in Japan more so than I did in 2003 because I had grown as a person.

But in that moment, it occurred to me that hito kawa muketa is such an interesting expression because it's not necessarily the way we think about growth in North America. And that's what inspired this podcast episode.

I think we see growth as addition and expansion most of the time. We see ourselves doing more, being more, and getting more through the process of growth. But the Japanese phrase suggests that growth is in fact subtraction. We peel away a layer as we develop into the individuals we're becoming.

It's not that either perspective is right or wrong, but when you think about it, the process of growth often involves letting go of past failures, past fears, baggage, and hang ups. As we let go of those things, we're better able to focus on the present, and by extension, our future. We can set goals and move towards them.

The process of growth often involves letting go of past failures, fears, baggage, and hang ups.Share on X

I have a friend who I think would readily agree with this notion of peeling back the layers. He believes that growth is moving closer to your identity, who you truly are. You were born with your identity and yet somehow, you've gotten away from it.

This begs a few important questions, such as: "Why do we move so far away from our identity to begin with?", "What causes us to add layers that later need to be peeled back?", "Why are we afraid to be ourselves?", and "Why can't we always be the purest version of ourselves out in the world?

I don't necessarily have the answers to these questions, but I do believe they are worth asking. As you examine yourself, you may come to some important realizations about the things that are holding you back as an individual right this moment.

What I believe is that we add layers to protect ourselves. Painful life experiences cause us to make changes. Sometimes these changes are beneficial, but sometimes they are detrimental to us as well. The layers that we add aren't our identity. They are merely coping mechanisms to help us not make the same mistakes again.

Certainly, I believe we should learn from our mistakes. There's tremendous value in that. But if someone you love hurts you, and because of that experience you mistrusted everyone on the planet, you would be hurting yourself. But these are the types of sweeping conclusions that we often come to because of things that have failed in the past, so the added layer wouldn't be a reflection of your identity – just a tool for coping with life.

To get to where you want to go in your career or business, you will likely need to examine and peel away the layers between you and who you truly are. As you do, you move closer to your identity, which is more beautiful than you know. I believe we're often scared of our identity because to us it looks like a mix of strengths and weaknesses. Few people like to reveal their weaker side. Yet, if those qualities aren't all taken together, you wouldn't be fully you, and I wouldn't be fully me.

I believe peeling back the layer is difficult if not impossible unless you take time to reflect. Just as I took some time away for myself and went to Japan, stopping and taking a break from your life is a good way to gain clarity on the situation and discover the steps you need to take to move forward.

Stopping and taking a break from your life is a good way to gain clarity on the situation and uncover your next steps.Share on X

Even though it's been painful at times, I believe I've been rewarded for peeling back the layers and have been finding my path forward in my ventures. I have more clarity than I've ever had before. So, will you dare to peel back the layers?

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Does it seem like people repeatedly ask you why you’ve chosen your career path? Do they think you should be doing something else with your life?

In this episode of The New Music Industry Podcast, I share why it’s important to press into the “why?”

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Podcast Highlights:

00:14 – Todays’ topic

00:28 – What I’ve realized about being multitalented

01:26 – A sign you’re on the right path

01:51 – Is there anything people are telling you not to do?

02:15 – Evaluating and reevaluating your direction

02:42 – The problem with trying to satisfy everyone

Transcription:

When you saw the title for this podcast episode, you probably assumed it would be about motivation. You're partially right. What I really want to dig into to today has to do with what people say about the projects you're working on.

As I did a bit of reflecting on one of my famous late-night walks recently, I realized something important. If you're a multi-talented person, there's a good chance someone will say something along these lines at one point or another. "What are you doing, and why are you doing it?"

I've certainly had people say that to me before. I think it's because over the years I've developed many skills and talents. I also happen to be bilingual. So, it would be easy for people to say I should be doing one thing over another. Some people say I should be dedicating most of my time to music. Others say I should take up a job as a translator.

Whenever people used to say things like that I would take a close look at what I was doing to evaluate whether it was serving me. And honestly, I probably spent too much time thinking about it and worrying about what other people thought of me.

Now don't get me wrong. People are typically well-meaning when they question your direction, because they see your potential. It feels good when other people see your potential and think you might be good at a variety of things. But now I’ve realized questions like this may actually be a sign you're on the right path as opposed to being on the wrong one.

Ultimately, only you can know what your reasons are for doing what you do. In my case, there are a lot of people that thought I should probably just be making more music, which is something I did a lot of over the course of 12 years or more. But I wanted to write books and build a business. So naturally, I think a lot of people looked at me a little bit weird when I said that was my vision and goal.

Take a moment and ask yourself. Is there something you're doing right now that people are telling you not to do? Your business, or music career perhaps? Is there something else they think you should be doing with your life as opposed to that project?

Maybe you are at a crossroads and you need to reevaluate, but maybe, just maybe you're already on the right path and it would actually be a waste of time for you to think too deeply on this. I'm not saying it's not worth looking at your direction from time to time, and I would suggest doing this at least yearly. But constantly questioning your direction can erode your self-confidence and cause you to lose focus, so you need to ask yourself if it's worth paying that price.

I now realize if I had stopped building my business I would never be presented with the opportunities I have today. The Music Entrepreneur HQ is growing fast. Had I quit on this path, I would not see the blessings I now see in my life.

If you're doing things that appear to satisfy everyone you know, you may be on the wrong path altogether. When you're doing something that rocks the boat, sometimes that's how you know you're on to something. You don't want to be neutral. You don't want to be vanilla. You won't stand out from the crowd. In a sense, you need to make people love you or hate you.

So, will you remain steadfast when others think you should be doing something else? Will you press into the “why” when others question you?

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Have you ever wondered what it takes to become a more confident musician?

Are you wondering what it’s like to live the entrepreneurial life?

Then you’re going to love this interview. In this episode of The New Music Industry Podcast, I chat with Christopher Sutton of Musical U.

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Podcast Highlights:

00:14 – Introduction

00:27 – What is the concept behind Musical U?

01:52 – Ear training

03:14 – Tips for people looking to learn an instrument

04:49 – What do musician struggle with most?

07:25 – How do we avoid burnout as content creators?

10:32 – What tools and apps do you use to run your business?

13:17 – The Dynamite Circle

18:18 – What other tools have you found beneficial?

20:05 – Can entrepreneurship be taught?

22:11 – Why was 2012 a rough year for you?

27:53 – Entrepreneurial depression

35:00 – What are the challenges connected to your music and business life being so interconnected?

36:30 – Developing your inner circle

39:39 – What is something you wish you could spend more time on?

41:22 – How to achieve both a successful business and an incredible lifestyle

44:05 – Abundance mindset

46:10 – Conclusion

Transcription:

David Andrew Weibe: Thanks for joining me. Today I've got another incredible interview lined up for you so why don’t we get right into it?

Today, I'm joined by the founder of Musical U, Christopher Sutton. How are you today Christopher?

Christopher Sutton: I'm very well. Thank you, David. How are you doing?

David: I'm great. Thanks for asking. To start things off, I wanted to ask, what is the concept behind Musical U? What can people expect to learn on your website?

Christopher: Musical U came out of my company called Easy Ear Training originally. The genesis was really on this topic of ear training and how do you get a good ear for music. The reason for that was really I looked around and I knew how powerful ear training can be for musicians, but all of the traditional methods were really boring and really theory-based.

And so, I started my company in 2009 to try and leverage technology to make it fun and easy for people to get a good ear for music. For the first few years, we were really focused on that idea of ear training and giving people good exercises to do. But more and more I realized it's part of so much bigger picture.

And so, with Musical U we're really talking more about musicality in general, and ear training is a big part of that, but it's kind of a means to an end. And the end is how can I become the kind of creative, versatile, confident musician that I was probably dreaming of when I picked up my instrument but maybe got lost along the way.

And so, what we do is help musicians fill in those kind of soft skills and inner skills like: Can you recognize notes by ear? Do you have a good sense of rhythm? Do you have the confidence to get up on stage and perform? Leaving aside the instrument technique, can we turn you into the kind of musician you dreamed of being?

David: All right. So, ear training is mentioned a few different places on your website, so it seems like a something pretty important, also part of your musical journey, so talk about that a bit.

Christopher: Yeah. So, ear training is probably 70% of what we teach at Musical U. It is such a valuable thing, but it's a tricky one because the phrase “ear training” comes with a lot of baggage. A lot of musicians haven't even heard of it.

And so, you then need to explain what is ear training and how can it help. And those who have heard of it have typically learned it in a frustrating way, so they might have just studied up for the oral skills section of an exam they were taking, or they might have tried an ear training app and found it quite difficult and frustrating, so they decided it wasn't for them.

And so, we were a bit careful how much we use that phrase these days, just because what musicians actually care about is learning to play by ear, learning to improvise, learning to write songs, that kind of creative fun experience in music, and ear training is just the tool to get them there. And so… Yeah. At Musical U we teach ear training in a particular way that gets away from some of that baggage and some of that tedium and frustration.

David: Absolutely. Because depending on how the material is presented, it could either be boring or hard to understand, so it's really good when it's something that's a little bit simpler and helps musicians get to where they want to be in that capacity. What tips do you have for someone looking to learn an instrument?

Christopher: That's a big question. So, I think I see a lot of people making mistakes early on. I think if you're in the hands of a skillful teacher you can avoid a lot of those mistakes. But these days it's so easy to learn online. I think there are a lot of self-directed learners who are making use of these fantastic resources online but that leaves them open to not having the experience to kind of guide their journey.

And so, for example, I'm a big proponent that the ear side of things should be part of your music learning from day one really. This isn't an advanced skill that you get to when you're a master of your instrument already. This is really the heart of music making and feeling like you are a musician.

I think one tip I'd give is just even if you are right at the beginning stage picking up a new instrument, don't assume that playing by ear is something you need to be gifted to do, or improvising is an advanced thing for jazz musicians only. If you want to enjoy making music, and if you want to feel like you are a natural in music, there are things you can do from the very beginning alongside learning –  where to put your fingers on the guitar fretboard or the keyboard. That can really transform the experience you have of learning music.

Playing by ear isn’t something you need to be gifted to do.Share on X

David: I have found some people do really well with the self-directed learning side of things, but then I would say the overwhelming majority really kind of need a lot of direction to help them get to where they want to go, so those are some really good points.

On your website it says you'd rather spend your time creating resources for musicians than getting up on stage and performing. In some ways, I'm the same way. What have you found to be some of the things musicians struggle with and need to learn most?

Christopher: For me, it comes down to these inner skills. I think we have a really fantastic tradition in the US, the UK, Australia, of how do you learn the instrument. If you want to learn to play chords on guitar or learn classical piano or learn slap bass technique, you can take tutorials, or you can take lessons with a teacher. It's a fairly proven path. You'll have your ups and downs. It does take hard work. It does take persistence, but the instrument technique side of things I think is fairly well covered. That's really why with Musical U we focus on what I feel is so often neglected, which is, do you really understand what you hear in music? Do you understand what you're playing on the guitar, piano, bass? Can you choose what notes to play rather than only ever being able to play what you've carefully practiced from sheet music or tab?

And so, the resources I get excited about creating are ones which show people in a fun and engaging way that they do have what it takes to be creative in music and be expressive and kind of feel ownership of the music they are playing rather than just feeling a bit like a robot who sometimes makes mistakes, which I think is unfortunately the position a lot of people get to if they just focus on the instrument technique.

David: Yeah. That is so important. Being able to express yourself creatively and improvising. I was fortunate to develop those skills pretty early on in my development, but unless you're regularly jamming or getting in front of an audience and situations where you have to play something or perform, then you may not get there as quickly. Those are valuable skills.

Christopher: For sure. I think the other thing to keep in mind is that there's just such a mindset barrier for a lot of musicians. We have this cultural idea of talent and whether you have a gift for music. For a lot of people that means they never even consider improvising or learning to write songs because they feel like "I tried it once and it didn't work and therefore I'm not talented". This comes up a lot with singing too. People think they just can't sing. The reality is all of this stuff is learnable. You need to kind of break past that emotional barrier and understand that it's not a question of I have it or I don't. It's all stuff that you can learn with the right resources and the right guidance and a bit of hard work and persistence.

David: You create a lot of content, including articles and training modules for Musical U. And as I understand it, you're also answering questions for the community. So, as an experienced content creator myself, I know how easy it can be to spread yourself too thin even if you enjoy the process. Have you encountered any challenges connected to creating and delivering regular content?

Christopher: That's a great question. It has been challenging at times. I think in a way I was lucky because, just to give a bit of background, I discovered this thing called ear training only in my 20s when I'd already been a musician for 10 or 15 years.

And so, when I started my company, I was very conscious that I knew a reasonable amount and I knew enough to kind of guide the company, but there were only so many articles I really felt expert enough to write. And so, from almost the beginning I was hiring music educators much more experienced than myself to create content for our website. And so, there was still kind of editing and formatting and

Virtually everyone fails at one time or another, whether we like to admit it or not.

So, it’s not a question of whether you will fail, but rather how you handle that failure that matters.

In this episode of The New Music Industry Podcast, I explore whether failure leads to success.

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Podcast Highlights:

00:14 – Thought processes around failure

01:00 – Visiting Japan and speaking Japanese

03:23 – What I realized about failure

03:47 – Fear of failure

04:44 – How you handle failure matters

Transcription:

When it comes to failing, there are many different thought processes out there.

Some say, “fail early, fail often”.

Other says, “take the shortest path to success and don’t fail unnecessarily”.

And yet others, like leadership expert John C. Maxwell says we should learn to fail forward. What he’s saying is that since failure is inevitable, it’s how you deal with it that matters. We will fail at times, no matter how much effort we put into avoiding it, so we need to build a better relationship with failure.

What’s the right way to think about failure? Should you fail early and fail often while no one’s looking, so you can learn from the experience and improve? Should you attempt to chart a course to success that doesn’t involve failure? Should you fail forward and create a different kind of relationship with failure?

Last week, I just got back from a two-week vacation to Japan. I’m not going to say too much about that right now, but it was an incredible trip.

I have several takeaways from my trip to Japan, many of which I hope to share with you in upcoming episodes.

The last time I was in Japan was in 2003. That’s 14 years ago.

I grew up in Japan, so my Japanese was still pretty good. But while I didn’t have any trouble reading, writing, and understanding what others were saying, I had a hard time expressing and communicating my own thoughts. I would often stumble over words and got lost in my head.

As someone who’s refined his skills as a communicator throughout the years, it’s difficult looking back on that experience. I realized I didn’t want to repeat that mistake again. I wanted to make sure that I could communicate just as clearly and eloquently in Japanese as I could in English.

This year, I knew I would be traveling to Japan. That’s why I decided to start preparing early.

My process for preparing was straightforward. I spent a lot of time watching Japanese TV this year. This helped me get a sense of how native people expressed themselves and handled questions. As I observed, ideas on how to express myself began to form in my mind.

I also realized that I was probably overcomplicating things in 2003. I decided to find ways of simplifying my speech.

One of the challenges of having become an adult in Canada is that I never experienced what it was like to work in Japan. Therefore, I never learned to say job titles, jargon connected to specific jobs and industries, and other work-related lingo in Japanese.

What did I do? I looked up as many words connected to my profession as I could in advance. If I could explain my work to someone – and believe me, that’s hard enough in English let alone Japanese – then all other aspects of conversation would be a breeze by comparison.

So, based on what I’ve just told you, how do you think I fared in Japan this time?

Much to my delight, my friends were surprised at how fluidly I still spoke their language. Naturally, this did not happen by accident, but rather by design. I have put some effort into keeping up my Japanese over the years.

But a new friend of mine even commented that he felt like he was talking to a native when speaking with me. Although he never knew me as a kid, there still isn’t a higher compliment that could be paid.

And, to be fair, I’m still very much Japanese on the inside, though I look Canadian on the outside.

Why do I share this story with you? Because I realized it says something important about failure.

What I realized – at least for me – is that failure does lead to success.

If you’ve been around me long enough, you’ve probably heard me say something along the lines of, “I make as many mistakes as I possibly can upfront, so by the time I need to do the same task a second or third time, I’ll be well-versed in what not to do”.

As I reflect on my experiences, this has proven true. I think the problem is that many of us just don’t want to make mistakes. We worry. We’re concerned about who’s watching and what they will think when we stumble.

I’ve been in many situations where I could have worried about what people thought. One time, I was helping set up for a music event, and one of the hosts even said to me, as I was messing up, “isn’t this something that should be in your wheelhouse?”

Absolutely it should have been. But in that moment, I realized something about my process. I recognized that messing up in every conceivable way was my way of handling failure. If I made all the mistakes upfront, I wouldn’t need to make them again. I would be prepared for the next time I had to carry out the same task.

For better or for worse, failure isn’t something we can avoid. If you can chart a course to success that doesn’t involve failure, by all means do so! But I think that’s wishful thinking. I think you will encounter challenges along the way. I think you will make some wrong decisions.

Nevertheless, I do believe that it’s what you do with the failure that matters. It’s how you handle it and think about it that makes all the difference. If you aren’t willing to fail, then you probably aren’t risking enough. You need to take bigger chances to enjoy the level of success you desire.

Don’t fail because you must – fail so you can learn from the experience. Fail so you can course correct.

You are doing the best you can with what you know and what you have right now. The only way to do better is to realize you can do better. This involves breaking through the fear of failure.

The only way to do better is to break through the fear of failure.Share on X

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Are you finding it difficult to manage your money as a musician? Do you have a system you follow, or do you just wing it?

In this episode of The New Music Industry Podcast, I reveal the steps I’ve taken to manage my finances, and what has worked for me.

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Podcast Highlights:

00:14 – Disclaimer

00:32 – Tips for managing your personal finances

02:13 – Percentages are your friend

02:42 – Tips for managing your business or career finances

03:23 – Final thoughts

Transcription:

Thanks for joining me. Today I want to talk about managing your money. Now, I'm not an accountant or financial expert or anything, so please seek professional advice if you're looking for more qualified advice on this topic. These are just a few things I've picked up over the years and I'm sharing them in hopes that they will benefit you.

First, I’ll address personal finances. I would suggest setting up three different buckets of savings. The first is your emergency fund. This is where you should save roughly six to nine months of your expenses, whatever amount that you're personally comfortable with if you needed to fall back on it at some point.

The next is your guilt-free entertainment fund. We tend to put off a lot of things in life and delay gratification. That's fine if you're working towards a specific goal. But ultimately, we never know when we're going to be done here, so you should go and have fun while you can still have it. That's what this fund is for. Whatever it is that you want to do now, whether it's a vacation or weekend outing, you want to use the money that's in your entertainment fund to go and do that sooner rather than later.

The last one is your aggressive growth fund. With your emergency fund and entertainment fund squared away, the only thing left to do is invest your money. A lot of people are naive and assume they will never need to invest, that's simply not the case. The sooner you can begin saving, the better I find. If you already have an emergency fund, you're basically playing with money that you're okay to lose and that's really the best position to be in when you're investing.

If you could pay into each of these funds regularly, that would be ideal, but I haven't found that to be easy. So, I would suggest starting with your emergency fund. And once that's a built up, gradually put money into your entertainment and aggressive growth fund. I would suggest saving at least 10% off the top of every paycheck, 20% if possible. As your income goes up, you're going to be paying more taxes, so you want to be prepared for tax season and not be caught off guard or be taken by surprise.

One more thing I will say before moving into business or career finances is “percentages are your friend”. I like working with percentages a lot. For instance, after a check is deposited into my account, I will take 10% of that to pay down one credit card. I will take 10% of that to pay down another credit card. And I will immediately save 10% or 20% off the top, but that still leaves me with 60% to 70% of the lumpsum for my daily expenses.

When it comes to personal finances, percentages are your friend.Share on X

Now, let's talk about business or career finances. First of all, I suggest opening a no-fee bank account, not a business bank account, which can be costly. If possible, pay all your earnings as a musician into this no-fee bank account. You can still pay yourself out of the lumpsum, but it's important to save as much as you can, because there are many expenses associated with running a music career.

Also, you should effort to pay all your career related expenses out of this no-fee bank account. That way, you're never going into debt, and you're never overextending yourself unnecessarily. You just look at the amount that you have in your account and that's the amount you have to spend.

If you master these simple tips, I believe you'll be well on your way to establishing a strong financial foundation for your life and your career.

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