Wednesday, June 8, 2011

Money Isn't Everything

In my last blog I talked about bands/artists looking into the possibility of getting some financial assistance from investors and I just wanted to clarify that my intention was not to say that having a lot of money to throw at a business venture is the cure-all. It isn't.

I really don't believe that an abundance of money is the answer much of the time. So many of us have a great deal of opportunity all around us all the time, yet we don't take advantage of all that is already there. The most important assests you can have are the desire to do what it is you want to do, the skills and talent to do it, a high level of commitment to see it through and the ability to adapt as you go. Without these things you probably won't go very far no matter how much money you have.

There's a great quote from Bill Gates with regard to applying automation to companies to increase efficiency:

"The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency."

I think the same could be said about pumping money into a business whether it's a band or otherwise. Putting big dollars into a band that's a complete mess will just reveal what a mess it is because the stakes are higher. And conversely, putting money behind a band that has all its ducks in a row will reveal the greatness that has always been there on a much grander scale.

Just look at the track record of the major lables over the past four or five decades. They fail about 90% of the time, but when they win, they win big. Make sure you have all your ducks in a row and that your desire, skills and commitment are all in check. And if that's truly the case, you're increasing your chances of success tenfold.

So don't sit around making excuses about not having enough money or not having the same opportunities that others are enjoying. Get out there and start taking advantage of all the great tools (many of which are very cheap or even free) like social networking sites, music delivery services, blogging sites and so on. I think it really boils down to the fact that you have to look within for the answers you need to move forward, not outside yourself. The ability to be creative is priceless, so tap into your creative side and turn the tables so other people will be seeking the opportunity to work with you.

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