business plan for artist management company

How To Write a Winning Artist Management Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for artist management businesses that want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective record label business plan , you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every artist management business owner should include in their business plan.

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What is an Artist Management Business Plan?

An artist management business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write an Artist Management Business Plan?

An artist management business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Artist Management Business Plan

The following are the key components of a successful artist management business plan:

Executive Summary

The executive summary of an artist management business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your artist management company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your artist management business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your artist management firm, mention this.

You will also include information about your chosen artist management business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of an artist management business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the artist management industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the clients of an artist management business may include record labels, concert promoters, and other businesses in the music industry.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or artist management services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your artist management business may have:

• Comprehensive artist management services
• Proven track record of success
• Extensive industry experience
• Strong relationships with key industry players
• Innovative business model

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your artist management business via word-of-mouth or by exhibiting at trade shows.

Operations Plan

This part of your artist management business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for an artist management business include reaching $X in sales. Other examples include signing on X number of clients, or booking Y number of shows.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific artist management industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Artist Management Firm

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Artist Management Firm

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup artist management business.

Sample Cash Flow Statement for a Startup Artist Management Firm

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your artist management company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

Remember to keep your business plan updated as your company grows and changes. Review it at least once a year to make sure it is still relevant and accurate.  

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Artist Business Plan Template

Written by Dave Lavinsky

Artist Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their artist businesses. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write an artist business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an Artist Business Plan?

A business plan provides a snapshot of your artist business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for an Art Business

If you’re looking to start an artist business or grow your existing artist company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your artist business to improve your chances of success. Your artist business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Artist Businesses

With regards to funding, the main sources of funding for an artist business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for artist companies.

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How to write a business plan for an artist business.

If you want to start an artist business or expand your current one, you need a business plan in the proper business plan format . The guide below details the necessary information for how to write each essential component of your artist business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of artist business you are running and the status. For example, are you a startup, do you have an artist business that you would like to grow, or are you operating a chain of artist businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the artist industry.
• Discuss the type of artist business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of artist business you are operating.

For example, you might specialize in one of the following types of artist businesses:

• Antiques: This type of artist business may include the restoration, curation, and auction of antique furniture and other items.
• Art Consultant: This type of artist business involves helping clients find and select art pieces for their own collections.
• Tattoo Artist: Tattoos are a popular way for artists to earn money by tattooing permanent ink art onto their customers.
• Photography: Photographers may specialize in certain categories like wedding photography or nature photography.
• Graphic design: This type of business encompasses all kinds of design from creating logos and marketing materials for businesses to creating websites and designing products.
• Art teacher: This type of artist business involves art instruction and can include anything from teaching an elementary school art class to a recreational painting class, or an online art course.

In addition to explaining the type of artist business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of clients served, the number of art pieces sold, reaching $X amount in revenue, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the artist industry.

While this may seem unnecessary, it serves multiple purposes. First, researching the artist industry educates you. It helps you understand the market in which you are operating. Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends. The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your artist business plan:

• How big is the artist industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your artist business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your artist business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of artist business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other art businesses. Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This may include other sources of art pieces, auctions, or resellers. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of artist business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you make it easier for your customers to engage with your product or service?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a artist business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of artist company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you sell paintings or sculptures, consult on various art pieces, instruct a painting class, etc?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your artist company. Document where your company is situated and mention how the site will impact your success. For example, is your artist business located in a busy retail district, a business district, a standalone office, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your artist marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your artist business, including answering calls, meeting with clients, billing and collecting payments, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth client, or when you hope to reach $X in revenue. It could also be when you expect to expand your artist business to a new city.  

Management Team

To demonstrate your artist business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing artist businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing an artist business or successfully running a small curation business.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you meet with 5 clients per day, and will you charge by the hour for art consultation services? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your artist business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a artist business:

• Cost of equipment and office supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a sample of your artist portfolio.  

Writing a business plan for your artist business is a worthwhile endeavor. If you follow the sample template above, by the time you are done, you will have an expert artist business plan; download it to PDF to show banks and investors. You will understand the artist industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful artist business.  

Artist Business Plan Template FAQs

What is the easiest way to complete my artist business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your artist business plan.

How Do You Start an Artist Business?

Starting an artist business is easy with these 14 steps:

• Choose the Name for Your Artist Business
• Create Your Artist Business Plan
• Choose the Legal Structure for Your Artist Business
• Secure Startup Funding for Your Artist Business (If Needed)
• Secure a Location for Your Business
• Register Your Artist Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Artist Business
• Buy or Lease the Right Artist Business Equipment
• Develop Your Artist Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Artist Business
• Open for Business

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How to Wrtie an Artist business plan + Free Template

Are you an artist—oil painter, singer, makeup artist, or writer ready to turn your passion into a profitable business?

If yes, and about to start your own art business; wait a moment!

You will need to think about resources and funding for navigating the ins and outs of an artistic journey.

Also, you need to specify if there’s a significant market for your business to be successful, what potential customers expect from you, and who are your competitors.

However, having a solid business plan is an essential tool to answer all these questions, and this artist business plan will surely help you!

It will guide you through all the important aspects of an effective artist business plan. It not only fuels your creativity but also paves the way for a sustainable and prosperous artistic venture.

But before diving right into the plan; let’s find some interesting facts about the creative art industry.

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• Fill in the blanks – Outline
• Financial Tables

Creative Art Industry Outlook 2024

• The United States has been firmly holding its position as the leading global art market for the past few years, generating roughly 45% of the global sales value.
• The revenue of performing arts companies in the U.S. will amount to roughly $19,6 billion by 2024, while for independent artists, it will amount to approximately $23,1 billion .
• There are 71,828 people employed in the US musical groups and artists industry till 2023.
• The number of people increased 0.4% on average over the five years between 2018 and 2023.
• Zippia estimates that artists are 70% more likely to work at private companies as compared to public sectors.

Now, without further ado; let’s delve into the key components you need to include in your creative business plan.

Key Components of an Art Business Plan (w/ examples)

• Executive Summary
• Business Overview
• Market Analysis
• Product and Services
• Sales and Marketing Strategies
• Operations Plan
• Management Team
• Financial Plan

1. Executive Summary

An executive summary is the initial chapter intended to provide a quick overview of your entire artist business plan. It highlights the primary facts of your business, from art business ideas to financial projections.

Keep your summary concise and clear, use simple language, and avoid jargon as it quickly engages readers.

You can start by introducing the idea behind starting an art business and explaining what it does. For example, is it a startup, do you like to grow your business, or are you operating a chain of artist businesses?

Next, share a brief overview of how your art studio will be different from the rest. Provide a summary of each of the subsequent sections of your plan, such as:

• Describe the artist industry and the target market in brief.
• Represent the products or services you wish to offer.
• Give a snapshot of your marketing strategy.
• Name all the key members of your management team.
• Provide a summary of your financial projections.

After that, end your summary with a clear call to action, inviting potential investors or readers to the next meeting if they are curious about your business.

Generally, this section is written after the entire business plan is ready as you go through and draft all the important sections of your business plan.

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2. Business Overview

The business overview section provides detailed information about your art business, including ownership, legal structure, office location, business history, and other business-related facts.

Initially, you can draft all the foundational facts like:

• The name of your art business and the concept behind it, for example: do you need a makeup artist business plan, music artist business plan, or painter business plan, and what is the actual idea behind your artist business?
• The legal structure of your art business whether it is a S-Corp, LLC, sole proprietorship, or some other.
• Location of your art gallery and the reason why you selected that place.

After that, describe the owners of your business and mention their roles in running it. Emphasize the percentage of shares owned, and how each owner helps in the business. For example,

You can add a memorable, clear mission statement that sums up the objectives and core principles of your art studio. Also, include an outline of the business’s history and how it came to be in its current position.

If you want to, include some personality and interesting details, especially if you have any achievements or recognitions till now for your creative art.

Convey your aspirations and your clear vision. Highlight future business goals and if you have any plans of opening an art studio or hosting an art gallery opening.

3. Market Analysis

Next, dive into the art world as this chapter provides a clear understanding of the art industry, along with the target audience, competitors, and growth opportunities.

So, take some time to go further and identify your target market and define your ideal target customer. It will guide your artistic choices and marketing strategies.

Know more about your customers and which type of services they prefer: customized painting, greetings, invitation cards, poetries, songs, or anything else.

After that, give an overview of the art industry. It unveils necessary information about the market size and growth potential of the art market in which your business will run. :

Also, conduct detailed market research to identify direct and indirect competitors. Evaluate their strengths and weaknesses.

You can perform a SWOT analysis to find internal strengths & weaknesses of your artist business and external opportunities & threats in the market.

Based on that, outline unique selling points and competitive edge. Accentuate how your art is different from the rest of the arts, and explain how you can offer qualitative services.

Try to analyze emerging market trends in the industry, such as changes in customer preferences and explain how your art business will cope with all those trends.

You can describe any regulations or licensing requirements that affect your art business, such as safety codes, contracts, taxes, or something else.

Here is an example you can refer to draft regulations for your art business:

Operating within the art industry entails adhering to several regulations. 

These encompass [specific regulations, e.g., “safety codes for installation arts, contracts ensuring the rights and responsibilities of both artists and clients and taxation structures specific to art sales”]. 

Our studio is committed to upholding all necessary licenses and continuously stays updated on regulatory changes to ensure full compliance.

4. Product and Services

The product and services section of an art studio business plan should describe the specific services and products you will provide. It should be detailed, informative, and customer-focused.

Start this section by introducing the artist first, along with the art form they will be using, for example, paintings, sculpture, photography, sketches, customized services, greeting cards, or something else.

Describe the artist’s distinct aesthetic and style and explain how it distinguishes them from other professionals in the field.

You can also include the specific items the artist produces, such as their original works, sell paintings or their limited edition prints, or any pieces they have been commissioned to create.

Try to describe each product’s advantages and characteristics as well as how they appeal to the target market. Also, emphasize the importance of quality by including all the details about the raw material you will use.

Here, don’t forget to explain how your business will ensure that all services and products are delivered with the highest standards of efficacy.

5. Sales and Marketing Strategies

A successful sales and marketing plan involves a list of strategies you will use to attract and retain your potential customers.

Here are some key elements to include while writing your sales & marketing strategy:

Unique selling proposition (USP)

Clearly state the artist’s unique selling point, which should cover their taste, aesthetic, and the advantages of their products and services. Something needs to be said in a way that appeals to your intended audience.

Pricing strategy

Develop a pricing strategy that is competitive and affordable, yet profitable. Consider offering promotions, discounts, or packages for your products & services to attract new customers.

Marketing strategy

Draw out a marketing plan that can spread the word about your work and put yourself out there. You can include a mix of online and offline marketing channels.

Consider social media platforms, email marketing, content marketing, brochures, print marketing, and events.

You can take reference from the below example written using Upmetrics AI Assistant :

Sales strategies

Mention your sales strategy as an approach to turn potential buyers into clients by providing limited edition prints, discounts, and referral scheme discounts.

Customer retention

Describe how your art business will retain customers and build loyalty, such as through loyalty programs, special events, or personalized service.

6. Operations Plan

Next, you can craft a behind-the-scenes look into your artistic process and procedures.

This operations plan section paints a vivid picture of your creative endeavors, from your art studio setup to the tools and techniques you utilize.

First, you can explain how you go about creating your art, what tools and materials you require, and how long it takes to finish each piece.

If you collaborate with assistants or any other professional artist, provide details about their tasks and operational processes.

You can also describe your inventory management strategy, including your shipping, tracking, and storage methods. Mention how you’ll maintain track of your artwork and ensure that it’s transported and stored correctly.

7. Management Team

The management team section provides a brief overview of the individuals responsible for driving the art business and highlights that your business has the most suitable team.

You can introduce your team members including the artist, the artist manager, the booking agent, the publicist, the accountant, and the lawyer.

Even if you’re an unaccompanied artist, showcase the key individuals who support your creative journey.

Try to provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

You can also represent the organizational structure of the management team, including reporting lines and how decisions will be made. Here is an illustration of an organization chart using Upmetrics:

If you have a board of advisors/mentors who have contributed to your business growth, mention them along with their roles and experience.

Don’t forget to explain your compensation plan for the leadership team and staff, including salaries, bonuses, and other benefits.

8. Financial Plan

A well-structured and in-depth financial forecast is the most important section for potential investors, as it offers a clear insight into any capital or investment requirements, startup costs, projected revenues, and profits.

So, develop a precise summary of your financial projections for the initial years of operation. Highlight all the crucial facts investors require for informed, strategic decision-making.

For a successful artist business plan, you should include the following financial statements:

• Sales forecast
• Expense budget
• Profit and loss statement
• Cash flow statement
• Projected balance sheet
• Break-even analysis
• Business ratios
• Exit strategy

From the above, you can estimate how much finances you will need to start and operate your art business. Consider funding resources including bank loans, SBA-guaranteed loans, angel investors, or personal savings.

Here’s an example of a projected balance sheet for the next 3-5 years using Upmetrics:

9. Appendix

When writing the appendix section, you should include any additional details that support the main content of your business plan.

This may include financial forecasts, market research data, legal documents, and other relevant information.

• Enclose a table of contents for the appendix section to make it easy for readers to find specific information.
• Add financial statements such as income statements, balance sheets , and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
• Provide market analysis reports, such as statistics on the size of the art industry, consumer demographics, and trends in the industry.
• Include any legal documents such as business licenses, permits, and contracts.
• Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
• Use clear headings and labels for each section of the appendix so that readers can easily locate the information they need.

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If you’re not good enough with financial formulas, Upmetrics helps you calculate accurate money forecasts for 3 years or more.

Whether you’re a beginner or trying to expand an existing one, Upmetrics is all you need to make a successful pro-business plan that matches your business goals.

Download our artist business plan pdf now and start writing a comprehensive plan in no time!

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Frequently asked questions, how often should the business plan be reviewed and updated.

Review and update your artist business plan at least once a year or more often if there are significant changes in your business. It ensures your plan remains aligned with your artistic direction, market conditions, or goals.

What should be included in an Artist’s Business Plan?

A comprehensive artist business plan should include below key components:

• Sales and Marketing Plan

What kind of financial information does a business plan include?

In an artist’s business plan, the financial part includes startup costs,  income statement, cash flow statement, balance sheets, and break-even analysis. It offers a clear idea of your financial health, enabling investors to estimate the potential success of your artistic business.

Is it necessary to have business experience to create an artist business plan?

Business experience is beneficial but not mandatory to create an artist’s business plan. Many artists successfully draft business plans with a passion for their art and a willingness to learn.

Can the template help in planning for long-term career growth?

Yes, a well-written business plan template can undoubtedly help you in planning for long-term career growth. Include your artistic goals, market strategies, and financial predictions, as the template can be a strategic tool for envisioning and working towards sustained success throughout your journey.

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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How to Write a Business Plan for an Artist’s Business

7 min. read

Updated January 24, 2024

Free Download:  Sample Arts and Crafts Business Plan Templates

“But how can I write a business plan? I’m an artist.”

He was one of my favorite students in the class I used to teach on starting a business. He had a delightful way of challenging assumptions, occasionally on the basis that art, by its very nature, was above—or perhaps immune—to cash flow. As a student, he was engaged, intelligent, and eager to learn; so yes, he was one of my favorites.

“What, you aren’t going to sell paintings?” I responded. “You don’t plan to pay your rent and other expenses? You don’t care if checks bounce?”

How you make money is at the heart of an artist’s business plan

He agreed, somewhat begrudgingly, that maybe an artist wanted to survive in the world like anybody else.

On reflection, he decided that he liked the idea of making a living without abandoning his art. In the end, he saw himself in a condition similar to the professional, like a bookkeeper or consultant, faced with the idea of doing what he loved, in conjunction with a plan.

In this case, being an artist meant creating paintings to be hung on walls. But “artist” can mean a broad range of related things, from fine art and (ugh, so crass) commercial art, to design, writing, acting, stand-up comedy, and even live art. I’m in favor of whatever works for you and in awe of people who actually manage to combine talent, passion, and hard word to make that work for them as a way of life. Hats off.

So how do you make a business plan and use it to optimize the business side of your art? Here are some suggestions.

The big idea—making money

The first big hurdle for the artist business plan is what they call the business model, or, if you don’t like the trendy buzzword, how you make money.

If you’re a performer, I assume it’s about gigs, managers, and that stuff. Or, it’s about selling your paintings, sculptures, or photographs. Maybe you’re okay with being the starving artist, but if not, it’s “show me the money.” Don’t discount the obvious—take a look at the results of a quick web search, in the illustration here, for  “where to sell my paintings.”

Don’t completely discount the related businesses. Writers teach literature, painters teach fine arts. There are galleries. There are websites buying, selling, and collecting art. You can be as creative with the business model as you are with your art. Stand-up comedy is a tough career, I hear, but there are people getting around the gatekeepers using YouTube and downloads.

One of my personal favorite artist-with-a-plan stories is the story of  Paul Anthony and Rumblefish.  He was a talented musician—a drummer who built a business around selling music rights for films and ads. He started from his dorm room at the University of Oregon in 1996; he sold his company, Rumblefish.com, for $27 million in 2015.

Eventually, you settle in on how you hope to make money. Talk to people about it, search the web, sample websites, ads, displays, prices—get as much how-to information as you can and settle in on what you’re going to try.

That is the heart of your artist business plan: how you make money.

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• Strategy and tactics

Strategy is focus. It’s as much about what you don’t do as what you do. Figure out where you are going to concentrate your business efforts. It could be as simple as what kind of work you sell, to whom, through what channels. Or it might be what kind of performance, and how you reach the gatekeepers. Think about what makes you different, who will buy from you, and what you sell to them.

With strategy set, you need tactics to execute. Tactics are decisions you make about pricing, channels, websites, social media, managers, agents, stores, overhead, allies, and so forth. Make sure your tactics match your strategy.

For more on strategy and tactics, check out  Strategy Is Useless without Execution  and  Strategic Plan for Your Business,  also here on Bplans. If you’re a  LivePlan  user, determining your strategy and tactics can be as simple and direct as filling out the pitch page in LivePlan, which defines market, strategy, tactics, and so forth. If not, strategy and tactics can be as easy as a few bullet points you set down and keep track of. You don’t have to include long eloquent texts to make a business plan for yourself. Just include what you need, and will use.

• Milestones and metrics

Think through some manageable and measurable milestones—goals—you’re going to meet along the way. It might be your first gig; your first painting sold; your first painting available through some website; your first YouTube video posted, or the 100th; or maybe reaching 500 likes or 1,000 followers; or getting on the Jimmy Fallon show. Try to spell it out, though, so you can aim for it and work toward it.

The metrics help you track progress. Units sold, gigs, unique visitors, conversion rates, viewers, likes, follows—avoid having a plan full of generalities only. Keep it concrete and specific so you can use it to guide yourself and optimize your business.

For more on that, read  Milestones Make Your Business Plan a Real Plan.  For a personal view of metrics, with some suggestions, read my post on my blog here at Bplans:  Magic of Metrics, Tyranny of Metrics.

• Essential business numbers

Although a lot of people fear forecasts, don’t. It’s easier to do essential forecasts than to run a business without them. A simple sales forecast can be extremely helpful for your business later, as you track actual results, compare them to the forecast, and analyze the difference. What went right? What went wrong? Where were you off? If you don’t lay out a  forecast  first, you lose the opportunity to follow up with the management of it.

And yes, I know, you’re an artist, that’s not what you do. It’s hard on the self-image, but it’s good for the bank balance. You can do it, and it will help you succeed. Consider this previous post:

Do a spending budget linked to the sales forecast. A lot of your spending—marketing activities, for example—ought to have a direct connection with the projected sales that will result. For more on that, try my recent post on my blog here at Bplans:  How to Do a Spending Budget.  That’s part of a whole series I finished recently, on  standard business plan financials.

And, most important, plan your cash flow. Make sure you have enough cash in the bank to pay your rent and other bills. Having enough sales is a critical first step, managing spending is next, and then make sure you have the full cash flow including things like loan repayment, buying inventory, and supplies. For more on cash flow, try this post:  How to Forecast Cash Flow.

Remember: It’s planning that matters, not just the plan

The point of the business plan for most artists isn’t just having the plan; it’s using it to optimize your business. Expect your plan to change often. It’s a cycle that starts with the first plan and continues from then on, as long as you are in business. I call it P-R-R-R, as in the illustration here on the right.

Use it like a dashboard, a tool for checking your progress against goals, for tracking results, and doing regular course corrections. Think of it as a business navigation system, which includes destination, route, and—with regular review and revisions—real-time information to adjust the route as you go.

Tim Berry is the founder and chairman of Palo Alto Software , a co-founder of Borland International, and a recognized expert in business planning. He has an MBA from Stanford and degrees with honors from the University of Oregon and the University of Notre Dame. Today, Tim dedicates most of his time to blogging, teaching and evangelizing for business planning.

Table of Contents

• The big idea—making money
• Remember: It’s planning that matters, not just the plan

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How to start an artist management company?

An artist management company is a business that represents artists and helps them navigate the music industry. There are many different ways to start an artist management company, but there are a few key things that you will need to do in order to be successful. First, you will need to find artists that you believe in and want to help further their careers. Next, you will need to build relationships with industry professionals such as record labels, booking agents, and promoters. Finally, you will need to create a business plan and structure for your company.

There is no one-size-fits-all answer to this question, as the best way to start an artist management company depends on the specific goals and preferences of the company’s founder. However, there are a few key steps that are essential for starting any successful business, and these steps can be adapted to fit the needs of an artist management company.

The first step is to develop a business plan. This document will outline the company’s goals, strategies, and financial projections. Without a clear plan, it will be difficult to make the company successful.

Next, it is important to find the right location for the business. The location should be convenient for both the company’s employees and the artists they represent. It is also important to consider the cost of rent and other overhead expenses when choosing a location.

Once a location has been secured, the next step is to hire employees. It is important to find employees who are passionate about the music industry and who have the skill set necessary to be successful in the role.

The final step is to start marketing the company to potential clients. This can be done through online marketing campaigns, personal networking, or by exhibiting at music industry events.

How much does it cost to start an artist management company?

Start-up costs for a musician can vary widely, but typically fall somewhere in the range of $2,000 to $10,000. These funds will be primarily invested in travel, networking, and marketing expenses. It is not uncommon for it to take six to twelve months to see any return on this investment, so in the beginning it may be wise to continue working a day job while pursuing musical endeavors.

There are a few things to keep in mind if you’re looking to build your artist roster and grow your YouTube channel. First, sign a contract with your artists to protect yourself legally. Second, don’t quit your day job just yet – you’ll need to generate some income to support your new business venture. Third, get organized and draft a business plan for your artist management company. Fourth, make a name for yourself in the industry by networking and getting involved with music conferences and events. Fifth, work with an entertainment accountant to keep your finances in order. And finally, hire an entertainment lawyer to protect your interests. By following these steps, you’ll be well on your way to success in the music industry.

What does an artist management company do

An artist manager is someone who helps shape their clients’ careers, both in the short and long term. They often help clients book gigs, plan album projects, release records and tours, create marketing and merchandising strategies, get paid for their work, and establish and pursue long-term career goals.

A standard management fee is usually around 15% – 20% of your earnings. Your manager takes a cut of proceeds from album sales, any label advance, and from the earnings from deals they have negotiated.

Is there a high demand for artist managers?

The Bureau of Labor Statistics projects that the demand for artist managers will grow by about 5% in the United States between 2019 and 2029. This growth is about average when compared to the rest of the economy.

There are a number of factors that contribute to this projected demand. First, the music industry is increasingly globalized, which has created new opportunities for artist managers to help their clients break into new markets.

Second, the popularity of live music has been on the rise in recent years, which has led to an increased demand for artist managers who can help their clients secure bookings and plan tours.

Finally, the growth of social media has created new opportunities for artist managers to promote their clients’ careers and connect with fans.

Overall, the demand for artist managers is expected to grow at a steady pace in the coming years.

Managers typically receive a percentage of an artist’s earnings, although assistant managers at management companies may be paid a salary. This arrangement allows managers to share in the artist’s success while still being compensated for their time and expertise.

Is LLC good for an artist?

An LLC is a popular business entity for artists that provides enhanced liability protection for the owner as well as the tax benefits of a partnership.

LLCs offer several advantages for artists, including the following:

1. Limited liability: LLCs provide limited liability protection for their owners, meaning that the owners are not personally liable for the debts and liabilities of the LLC. This is a major advantage over partnerships, which do not offer limited liability protection for their owners.

2. Flexible management structure: LLCs can be managed in a variety of ways, including by the owners themselves, by a board of directors, or by professional managers. This flexibility is a major advantage over corporations, which must be managed by a board of directors.

3. Less formalities: LLCs have less formalities than corporations, meaning that they are less time-consuming and expensive to maintain. This is a major advantage over corporations, which have numerous formalities that must be followed.

What is a fair percentage for artist manager

Most managers earn a commission of 15-20% of the artist’s total income. This commission is typically taken from the artist’s performance fees, merchandise sales, and other income sources. The manager’s role is to help the artist secure bookings and negotiate contracts. The manager may also be responsible for handling other business affairs, such as publicity and marketing.

What qualifications do you need to be an artist manager?

The main qualification for a successful music industry professional is a sound knowledge of the music business and current trends. The ability to develop and maintain a range of industry contacts is also important, as is good judgement, which is acquired through experience of working in the role.

Artist manager contracts typically last for three years, although they can vary from two to five years on a case-by-case basis. Most contracts also include a “sunset” clause, which stipulates that the contract will be automatically renewed for an additional period of time unless either party gives notice of their intention to terminate the agreement.

Who pays an artist manager

The commission rate for managers is usually 20% of the gross income, net of some expenses. This can vary slightly from manager to manager, but is typically the standard rate. This means that managers are paid a percentage of what their artists earn.

A music manager typically receives 10-20% of an artist’s total income. This includes all income from royalties, performance fees, merchandise sales, and more. Taxes and other expenses, such as marketing, music production, and mixing engineering, are typically deducted from the artist’s total income before the manager receives their percentage.

What is a reasonable management fee?

The management fee charged by an investment firm varies depending on several factors, including the firm’s investment style and the size of the investment. Generally, firms that manage their investments more passively charge lower fees than those that are more active.

While most independent artists do not consider a manager to be important, it’s a vital part of your development. An effective manager essentially allows you to concentrate on creating quality music while they deal with the rest of the process. This includes booking shows, handling finances, and promoting your music. Having a good manager can make all the difference in your career.

What makes a successful artist manager

Being a good artist manager requires a lot of work and determination. You are essentially responsible for another person’s career, and must make sure that everything runs smoothly. This can be a lot of pressure, but it is important to remember that you are in control and can make things happen. If you have a strong work ethic and are determined to succeed, you will be a great asset to your artists.

Artist management in the music industry is an incredibly hard and fast paced job that is perfect for someone that loves music and wants to play a significant role in shaping an artist’s career. There are a lot of moving parts to managing an artist, from booking gigs and managing their schedule to handling press and promoting their music. It’s a demanding job that requires a lot of dedication and hard work, but it can be extremely rewarding to see an artist you believe in succeed. If you’re thinking about pursuing a career in artist management, be prepared to work long hours and make a lot of sacrifices, but know that it will all be worth it in the end.

Final Words

Before starting an artist management company, there are a few things you must do in order to be successful. First, you must have a deep understanding of the music business and the music industry. Secondly, you must have a strong network of contacts within the music industry. Lastly, you must be very organized and have a strong marketing and business plan.

You can start an artist management company by following a few simple steps. First, you will need to choose the type of company you would like to create. There are many different types of management companies, each with its own strengths and weaknesses. Once you have chosen the type of company you would like to create, you will need to obtain the necessary licenses and permits from your local government. After you have obtained all of the necessary licenses and permits, you will need to find a location for your company. Once you have found a location, you will need to hire staff and promote your company.

Wallace Jacobs

Wallace Jacobs is an experienced leader in marketing and management. He has worked in the corporate sector for over twenty years and is a driving force behind many successful companies. Wallace is committed to helping companies grow and reach their goals, leveraging his experience in leading teams and developing business strategies.

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Music Business Plan: A Guide for Music Industry Professionals

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A music business plan is crucial for any music industry professional looking to launch or grow their business. It provides a snapshot of the current state of the business and lays out a clear growth plan for the next five years. This is essential for understanding where the business is at and setting achievable goals for the future.

Check out our article below to learn more about creating an awesome music business plan and get a template.

What is a Music Business Plan?

A music business plan is a comprehensive and detailed document that outlines the goals, strategies, and financial projections for a music-related business. Whether it's a record label, music production company, artist management firm, or any other music-related venture, a business plan provides a roadmap for success. It helps to attract investors, secure loans, and guide overall operations.

From market analysis and competitive research to marketing and distribution strategies, a music business plan covers every aspect of the business to ensure clarity, direction, and long-term viability. It is an essential tool for anyone looking to establish or grow a music-related business in the highly competitive and dynamic music industry.

Why is it important to have a music business plan?

A music business plan is crucial for an artist's success in the industry for several key reasons.

It serves as a blueprint for the artist's career, outlining their goals, strategies, and financial projections. This document helps attract investors by showcasing the artist's vision, potential for return on investment, and realistic plans for reaching their target audience.

A well-crafted business plan guides decision-making by providing a clear direction and framework for the artist's activities and investments. Furthermore, it defines the artist's brand, including its image, style, and target market, which is essential for standing out in the competitive music industry.

In summary, a music business plan is instrumental in attracting investors, guiding decision-making, and defining an artist's brand, making it essential for achieving success in the music industry. Therefore, having a solid and comprehensive business plan is crucial for any aspiring musician or band looking to establish a successful and sustainable career.

How to Fill Out Your Lean Music Business Plan

In this guide, we will walk you through the steps of filling out your lean music business plan, from identifying your target audience to mapping out your marketing and sales strategies. 

We'll be referencing sections of the US Small Business Administration's ( SBA ) lean business plan template . Despite its generality, it works as a music business plan template. 

Aspects of this guide relate to the traditional business plan, which we will discuss later in the article. 

Business identity

A business identity helps your business specify exactly what you offer. Both the single-page lean plan and the traditional plan place importance on your identity. Let's say, for example, you're a business-owning musician who provides audio for creatives in the media industry. Here's how your identity might look:

Our business identity revolves around providing high-quality music and sound effects for TV programs, film industries, commercials production companies, video game developers, corporations, and event organizers. 

Through the lean template, try to identify your business in under one paragraph. Then, using the traditional template (see below), expand on that identity. Things like your mission statement, which we visit later, are an aspect of this.

The problem you're trying to solve

All businesses are problem solvers. Record labels help musicians with distribution, while music teachers help provide the next generation of musicians with a strong foundation. 

Naturally, you might wonder how this applies to musicians. Just saying "entertainment" feels a bit weak. There are bands, like Rage Against the Machine, who make music to push a movement. But if you're not part of that crowd, what do you put?

So, think about why you got into music-making in the first place. Any professional musician should think about who their music appeals to and what they want people to feel when hearing their music. You can then say your music solves that problem in a cheesy reminder that you think about more than what shows up on your financial statements. 

If you don't want to get too corny, think about who your music will most appeal to. Then, you can say what your target audience is. Think of something like this:

Creating music for young men and women that will entertain them and inspire them to explore challenging topics.

This problem-solving might feel generic, but you'll know your fans and why you make music. So, stay focused on that.

Solution your business presents

Once you consider the problem your business solves, you need to state how you solve that problem. Again, this is much easier for music industry professionals who work in support roles. Music distributors solve the problem by having direct connections with other distributors, while music marketers help bands reach out to fans via multiple social media platforms. 

As someone who makes music, your solution is the creation of music. So, ask yourself how the creation of your music solves this problem. Here's an example based on our situation above:

Our band writes music that delves into mental health struggles based on personal experiences and how we overcame them.

You might think that doing this as a musician feels silly, but think of it as a reminder. One of the reasons famous musicians like David Bowie and Tom Morello were so successful is focusing on how their music helps people. 

Competition 

Competitive market data varies depending on the territory you plan to target. For musicians and bands, this might involve bands in the local area and those in future touring locations. For musicians, the competition can also be a list of potential collaborators.

For everyone else not making music, other record labels and music production companies are just competition. Whether you can collaborate with them or not, you'll want to differentiate yourself from all the other options out there. Being another "me too" music business will make it easier to forget you. 

Using the lean small business plan, you'll want to stick this to two or three sentences. Be very general, knowing you can also expand using the traditional business plan. Here's an example of a made-up Tennesse company: My Music Production & Management: 

The competitive landscape for music production companies in Tennessee includes My Music Production & Management, Genre Music, and Retro Recording & Productions. My Music Production & Management offers a wide range of services, including music production, artist management, and music distribution. 

Revenue streams

Revenue streams come from various sources. A business plan reminds you of those sources so you can stay focused. As a musician, your income can come from many sources. Below is an example you can use under the lean business plan:

As a musician, my income comes from paid gigs, teaching music lessons, instrument repair services, and recording sessions. To ensure financial stability and growth, I plan to diversify my income by capitalizing on these different opportunities.

Your revenue streams will differ as a record label or other kind of music business. Like musicians, your revenue streams can vary. However, as a young business, you may specialize in specific areas. You might work on creating merch or distributing digital releases. 

Marketing activities

Marketing activities focus on how you plan on reaching out to different sources. For many new music businesses, this involves outreach through social media platforms. Here's an example of what you might include in your business plans:

Our marketing activities will primarily focus on building a strong online presence through social media and regional publications. We plan to utilize platforms such as Instagram, Facebook, Twitter, and TikTok to engage with our audience and share regular updates about our music and upcoming events. Additionally, we will work on developing a press kit to distribute to regional publications and media outlets to garner publicity and reach a wider audience.

Bands can create electronic press kits (EPKs) that are prebuilt for members of the media. This makes it easy for journalists and members of the media to share content about you, such as a new album release. You can also consider how much you might pay for advertising. Digital marketing activities like those above are the first choice, as this activity uses advanced targeting tools based on what people search for and their demographics.

Marketing traditionally focuses on the four Ps: product, price, place, and promotions. The first two Ps delve into your product line, which you'll learn about later. Promotions indicate the type of marketing you choose, and Place usually refers to the platforms your target audience uses. 

The lean business plan gives you a simple overview of your likely expenses, which can be detailed in your longer business plan. Part of these expenses include music taxes. Read our guide on music taxes for more details.

Expenses vary depending on the type of music business you run. You could pay to rent a studio for recording sessions, purchase recording equipment, access manufacturers, or pay for other expenses. These expenses can result in tax deductions .

Here's an example of what your expenses section might look like:

To get my music business up and running, I need to budget for several key expenses. Studio time would be required for recording and producing music, averaging around $50-$100 per hour. I'd also need to allocate funds for engineering talent, which could cost between $50-$200 per hour, depending on experience. Transportation costs for getting to and from recording studios or performance venues should be factored in, estimating around $200-$500 per month.

Legal fees for business formation are also deductible. When listing your expenses and considering deductions, ask yourself what your type of company would normally deduct. Reach out to Augur CPA if you'd like a comprehensive review.

The key roles section provides a list of high-ranking authorities in the business and explains the responsibilities and functions those roles bring to the business. Here's an example of what that might look like in your business plan:

1. Chief Executive Officer (CEO): Responsible for overall strategic direction and leadership of the organization, making key decisions and representing the company to the public and stakeholders.

2. Human Resources Department: This department is responsible for recruiting, training, and managing employees, as well as ensuring legal compliance and promoting a positive work environment.

3. Marketing Department: Responsible for promoting the organization's products or services, conducting market research, and developing marketing strategies to attract and retain customers.

4. Finance Department: This department is responsible for managing the organization's financial resources, including budgeting, accounting, and financial reporting.

5. Operations Department: This department is responsible for overseeing the organization's day-to-day activities, optimizing processes, and ensuring efficient production and service delivery.

As a new business, you might not need all of this detail in your roles. A new business owner wears many hats, handling all of this themselves.

As your business grows and you fill roles like those above, you'll want to create an operating agreement . Operating agreements dictate the roles, holding groups responsible for their actions. This can dictate things like voting rules, which are vital when making high-risk business decisions that require more input.

Your milestones tell readers, yourself, and business partners of the important milestones you've already taken or plan to take. Your lean business plan is a single sentence telling people what you generally plan to do. Larger business plans might look something like this:

Milestone 1: Lease Finalization

- Task: Negotiate and finalize the lease agreement for the studio space

- Deadline: by May 15th

Milestone 2: Personnel Contracts

- Task: Draft, review, and finalize contracts for hired personnel

- Deadline: by May 20th

Milestone 3: Studio Build-out and Equipment Purchase

- Task: Begin construction and build-out of the studio space, purchase necessary equipment

- Deadline: Construction to be completed by June 30th

Milestone 4: Networking and Marketing Plan Implementation

- Task: Develop and implement a networking and marketing plan to attract clients

- Deadline: Marketing plan to be in place by June 1st

Each milestone outlines specific tasks and deadlines to ensure a smooth and successful opening of a recording studio. A musician or distribution company should take a similar approach, focusing on initiatives that help them grow their business.

Filling Out Longer, Traditional Business Plans

The SBA's traditional business plan, which you can find here , is a multi-page document. It's an expanded version of the lean business plan, which you can provide upon request. When applying for business loans or bringing on business partners, this plan can help communicate your vision.

Traditional business plans might use a bit more jargon, like executive summaries and mission statements. Below, you'll learn a bit more about some of the more complex aspects of writing your detailed business plan.

Executive summary

Executive summaries summarize the main points of a business plan. The summary points include the purpose of the business, the business name, the target market, your business location, and how your business solves its target audience's problem. Here's an example you can use for inspiration:

The Executive Summary of my music business plan showcases my artist bio, mission statement, and unique selling proposition. As a musician, I bring a unique blend of classical training and modern influences, with a strong foundation in jazz, pop, and R&B. My mission is to create music that transcends genres and connects with audiences on a deeper level, aspiring to inspire and uplift through my art.

My unique selling proposition lies in my ability to blend diverse musical styles and deliver powerful, emotionally resonant performances. I have achieved recognition in local music scenes, including winning the Best New Artist award at a prominent music festival. My aspirations include reaching a global audience and collaborating with industry-leading producers to create music that leaves a lasting impact. What sets me apart from others in the industry is my unwavering dedication to authenticity and artistry, always prioritizing substance over trends.

For bands and musicians, the executive summary is a great way to showcase your passion for music. Notice the "unique selling proposition," which indicates how you plan on differentiating yourself compared to other companies.

Other companies, like music publishing companies, might focus a little less on the creative aspects of their business. An executive summary can differ slightly between companies. However, if you're new, start with the template until you get comfortable writing these plans.

Company description and mission statement

Your company description, based on the traditional plan, includes the mission statement, members, legal structure, and location of the company. It might also include the executive summary.

Here's an example of the description for a made-up company: SoundWave Entertainment:

Our company, SoundWave Entertainment, is structured as a Limited Liability Company (LLC) and has been in business for ten years. We specialize in providing top-quality live music entertainment, event production, and artist management services. Our diverse range of offerings includes wedding bands, corporate event entertainment, and music festivals. Our customer demographics range from engaged couples looking for the perfect wedding band to event planners seeking unique and memorable entertainment experiences. In the past decade, we have experienced significant growth, expanding our roster of talented artists and achieving a strong presence in the events industry. Our primary business goal is to continue providing exceptional musical experiences and to further expand our reach in the entertainment industry.

The description is simple enough, but the mission statement is arguably the most important aspect of your business plan. It's a few sentences long but shares the overall mission of your company, dictating where it goes and how it makes decisions. Mission statements are emotionally driven and connected to the morals and heart of the company's stakeholders. Here's how it might look:

At SoundWave Entertainment, we are committed to delivering unforgettable musical experiences and fostering the growth of talented artists. We strive to exceed our client's expectations by curating exceptional live entertainment and providing a platform for artists to showcase their skills. Our goal is to leave a lasting impression through the power of music, creating moments that inspire and connect people.

Market conditions and research

The traditional business plan offers a bit more room for reviewing your market conditions and researching your competition. Doing your own research helps you understand the market. Sharing your research on a business plan provides proof of your knowledge of market conditions. Here's a short example of market conditions:

The current market conditions in the music industry are characterized by several industry trends, including the shift towards streaming services, the resurgence of vinyl records, and the increasing importance of live performances for artists' revenue. Consumer behavior has also changed significantly, with more music fans opting for subscription-based streaming services over traditional album or single purchases. Key competitors in the industry include major streaming platforms like Spotify and Apple Music, as well as record labels and live event promoters.

Additional sections of your business plan include a detailed description of your customers, how your company outperforms the competition, and regulations that might impact your company.

Regarding regulations in the music industry, it helps to have a general understanding of the Digital Millennium Copyright Act ( DMCA ), fair use , and current communication laws. Knowledge of these laws or working with a music attorney can help you with this aspect of your business plan.

Service line and pricing structure

Your service line includes a complete list of your services and their costs. For musicians, this might include gigs, music lessons, and anything else you do to advance your career in music. It then breaks down the pricing of your services, including some potential for how that pricing can flex.

Services can vary heavily depending on your company and the services you offer. When you first start your business, you might specialize in a few areas. One milestone could be expanding to include additional features, like a record company offering email marketing services.

The service line section also includes your product lifecycle. For example, albums tend to make more money during their first year of release, and your lifecycle dictates how long you might make albums. If you go on a tour during the album, you might stop creating new albums or merchandise sales during this time. 

Service line information can also include information on intellectual property rights and how your band and albums will be copyrighted. You can also work to trademark your company (or band) logo.

Marketing, sales, and growth strategy

While your marketing research section details information about the market and industry, your marketing, sales, and growth section dictates how you plan on reaching target customers. The lean plan mentioned above briefly addresses this area.

The three areas you'll want to consider are your growth strategy, how you want to communicate with customers, and how you plan on selling your products.

Let's say you plan on creating your own Shopify e-commerce store for your business, which is a huge investment. This means your growth strategy, product sales, and customer communications will wrap around this tool. If you want to start simpler, mention how you plan on talking with fans and setting up merch tables at local shows.

Here, you'll see some examples of how you could write this section:

Our music business aims to market, sell, and grow by implementing a combination of online and offline strategies. Our marketing efforts will include targeted social media campaigns, SEO optimization for our website, and collaborations with music influencers and bloggers. We will also explore opportunities for live performances, partnerships with local venues, and utilizing traditional advertisement methods.

To drive sales, we will offer unique packages for our music services, including special promotions for first-time customers and loyalty rewards for returning clients. Our pricing strategy will be competitive while still maintaining the quality of our services.

In terms of customer retention, we will focus on delivering exceptional customer service and providing personalized experiences for our clients. Our unique selling proposition lies in our ability to offer customized music solutions tailored to different occasions and preferences.

Moving forward, our plans for growth and expansion include branching out to new markets and offering additional services such as music production and event management. We will also invest in building brand loyalty and expanding our customer base through strategic partnerships and collaborations within the music industry.

Why Should I Care About A Business Plan?

A business plan is a crucial tool for any musician or music industry professional looking to advance their career in the music industry. It serves as a roadmap for your career, helping you set goals, make strategic decisions, and stay on track for success.

One of the most significant benefits of having a business plan in the music industry is its ability to attract investors. A well-thought-out plan demonstrates to potential investors that you are serious about your music career and have a clear direction for success. It outlines your financial projections, marketing strategies, and potential for growth, making it more likely for investors to see the value in supporting your music endeavors.

Additionally, a business plan guides decision-making by providing a framework for evaluating opportunities and making informed choices. It forces you to consider all aspects of your music career, from marketing and promotion to touring and merchandising, ensuring that you have a comprehensive strategy in place.

Furthermore, a business plan helps define your brand identity and outline your unique selling points, target audience, and marketing message. This is crucial in the music industry, where standing out and connecting with fans is essential for success.

To learn more about how taxes can apply to a financial plan for your business, contact Augur CPA today .

This content is for informational purposes only and does not constitute legal, business, or tax advice. You should consult your own attorney, business advisor, or tax advisor regarding matters mentioned in this post. We take no responsibility for actions taken based on the information provided.

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Artist Management Business Plan Template

Explore Options to Get a Business Plan.

Are you interested in starting your own artist management Business?

Why write a business plan?

• Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
• Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
• Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
• Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
• Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
• Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
• Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
• Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
• Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
• Business plans allow you to position your brand by understanding your company’s role in the marketplace.
• Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
• Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Business Plan Content

• Executive Summary
• Company Overview
• Industry Analysis
• Consumer Analysis
• Competitor Analysis & Advantages
• Marketing Strategies & Plan
• Plan of Action
• Management Team

The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at [email protected] . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

Instructions for the Business Plan Template

To complete your perfect artist management business plan, fill out the form below and download our artist management business plan template. The template is a word document that can be edited to include information about your artist management business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

Ongoing Business Planning

Want a bespoke business plan for your artist management business, our expertise.

Website Design & Development for Artist Management Businesses

A Guide to Social Media for Artist Management Businesses

Artist Management Business Plan Template FAQs

What is a business plan for a/an artist management business, how to customize the business plan template for a artist management business, what financial information should be included in a artist management business plan, are there industry-specific considerations in the artist management business plan template, how to conduct market research for a artist management business plan, what are the common challenges when creating a business plan for a artist management business, how often should i update my artist management business plan, can i use the business plan template for seeking funding for a artist management business, what legal considerations are there in a artist management business plan.

Music Business Plan Template

Written by Dave Lavinsky

Music Business Plan

You’ve come to the right place to create your music business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their music businesses.

Below is a template to help you create each section of your Music business plan.

Executive Summary

Business overview.

Musicians First Studio is a startup music company located in Nashville, Tennessee. The company is founded by Michael Smith, an experienced musician who has gained valuable knowledge on how to manage a music business during the past ten years while working at My Music Production & Management, another local music company. Now that Michael has experienced managing a music company, he is ready to start his own business, Musicians First Studio. Michael is confident that his skills as a musician, combined with his understanding of business management, will enable him to run a profitable music company of his own. Michael is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of running a music studio – sales and marketing, production, artist management, music instruction, financial reporting, studio equipment maintenance, and client relations.

Musicians First Studio will provide a full suite of music production, management, and instruction services for both novice and professional musicians in the Nashville area. Musicians First will be the go-to music studio in Nashville for its client-focused services and dedicated professionals who are experienced in all aspects of the music industry. The company will be the ultimate choice for the needs of aspiring and professional musicians.

Product Offering

The following are the services that Musicians First Studio will provide:

• Artist Management
• Music Recording, Production, & Post-Production
• Private Music Lessons & Group Classes
• Venue Booking & Live Event Management
• PR & Marketing for New Artists

Customer Focus

Musicians First Studio will target new and experienced musicians in Nashville who are looking for professional production, management, or marketing services. The company will also target aspiring musicians and children looking for music lessons taught by industry veterans. No matter the customer, Musicians First Studio will deliver the best communication, service, and professionalism.

Management Team

Musicians First Studio will be owned and operated by Michael Smith. Michael is a graduate of Tennessee University with a degree in music. He has over ten years of experience working as a manager for another local music studio. Michael will be the company’s chief executive officer. He will oversee the recording/production process, music equipment, and studio staff’s activities.

Michael has recruited his former administrative assistant, Jessica Garcia, to be the company’s chief operating officer and help oversee the studio’s operations. Jessica will handle the day-to-day operations, including budgeting, scheduling, client relations, and logistics.

Michael and Jessica have recruited an experienced marketing director, John Brown, to become a member of the Musicians First Studio management team. John is a graduate of the University of Washington with a bachelor’s degree in sales and marketing. Michael and Jessica rely on John’s expertise to execute the company’s marketing plan and advertising strategies.

Success Factors

Musicians First Studio will be able to achieve success by offering the following competitive advantages:

• Skilled team of music production technicians and veteran musicians who will work one-on-one with clients to reach their individual music goals whether they’re looking to record a new album or learn a new instrument.
• Musicians First Studio is one of the only studio’s in the area that offers a wide range of services for musicians of all skill levels and goals.
• The company offers competitive pricing and discounts for referrals.

Financial Highlights

Musicians First Studio is seeking $800,000 in debt financing to launch its music business. The funding will be dedicated towards securing the studio and purchasing equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff and marketing expenses. The breakout of the funding is below:

• Studio build-out: $340,000
• Music equipment, supplies, and materials: $280,000
• Three months of overhead expenses (payroll, utilities): $160,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph below outlines the pro forma financial projections for Musicians First Studio.

Company Overview

Who is musicians first studio.

Musicians First Studio is a newly established music company in Nashville, Tennessee. Musicians First will be the first choice for aspiring, novice, and experienced musicians in Nashville and the surrounding communities for its full-suite of professional services provided by industry veterans. The company will provide a wide range of services including recording/production, music lessons, artist management, and marketing for new musicians.

Musicians First Studio will be able to guarantee high quality production thanks to the latest and most innovative music technology operated by expert music production technicians. The company’s team of highly qualified professionals experienced in music, production, and marketing will manage the suite of services offered at the studio. In addition to customized services for musicians, customers will be able to book studio time that comes with use of equipment by the hour.

Musicians First Studio History

Musicians First Studio is owned and operated by Michael Smith, an experienced musician who has gained valuable knowledge on how to manage a music business during the past ten years while working at My Music Production & Management, another local music company. Now that Michael has experienced managing a music company, he is ready to start his own business, Musicians First Studio. Michael is confident that his skills as a musician, combined with his understanding of business management, will enable him to run a profitable music company of his own. Michael is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of running a music studio – sales and marketing, production, artist management, music instruction, financial reporting, studio equipment maintenance, and vendor relations.

Since incorporation, Musicians First Studio has achieved the following milestones:

• Registered Musicians First Studio, LLC to transact business in the state of Tennessee
• Has identified an ideal location for the studio that is available for lease
• Reached out to numerous contacts to include local musicians, production technicians, and venue managers to help spread the word about the new studio
• Began recruiting a staff of musicians, music instructors, production technicians, marketing experts, and office personnel to work at Musicians First Studio.

Musicians First Studio Services

Industry analysis.

The global music industry is an estimated $60B market and is expected to grow by 8% by 2026. The broad music industry can be categorized into three primary segments; recording, live music, and music publishing. In the United States, the recording segment generated approximately $8B in revenues last year, while the live music segment brought in an estimated $9.5B, and the publishing segment totaled $1.8B. A majority of revenues generated in the recording segment come from streaming (28% of total industry revenue), with digital downloads and physical media coming in much lower (6.7% and 7.5% respectively). Revenue for the live music segment is generated primarily through ticket sales (37.1%) and sponsorships (10.3%). Publishing accounts for approximately 8.9% of total industry revenue.

Music streaming is one of the most significant trends in the industry, with the number of Americans who pay for streaming subscriptions at approximately 82.1M, up from 7.9M in 2014. Another trend is the emergence of independent artists and small record labels. These groups are earning more revenue than in years past and their percentage of revenue increase year over year is growing faster than that of larger record labels. With more options open to them when it comes to where and how to get their music out to consumers, artists, managers, and record labels have more opportunities for success than ever before.

Customer Analysis

Demographic profile of target market.

The precise demographics for Nashville, Tennessee are:

Customer Segmentation

Musicians First will primarily target the following customer profiles:

• Novice-to-experienced musicians looking for recording/production services
• Aspiring musicians of all ages looking for music lessons
• Musicians looking for artist management, booking, and representation services

Competitive Analysis

Direct and indirect competitors.

Musicians First Studio will face competition from other companies with similar business profiles. A description of each competitor company is below.

My Music Production & Management

My Music Production & Management is one of the largest commercial music studios in Tennessee. The company was established in 1997 and offers professional music recording and production services for local musicians. My Music Production & Management also handles the business management activities for musicians including marketing, booking, and legal representation services. The company is well known for providing high quality production for some of the top artists in the region and has been recognized in various publications and music industry associations for its outstanding work in the local music community.

Genre Music

Founded in 2018, Genre Music is a small music company catering to local musicians in Nashville, Tennessee and surrounding areas. Genre Music is owned and operated by a veteran musician who has over 40 years of experience in the music industry. The company specializes in artist branding, marketing, and representation in addition to its top notch recording services. Genre Music has worked with a variety of up and coming artists in multiple genres and has a loyal customer base of regular musicians who use the company’s services.

Retro Recording & Productions

Retro Recording & Productions is a trusted Nashville, Tennessee-based music company that provides superior production and recording services for Nashville and the surrounding areas. The company is able to provide a wide variety of recording, production, and post-production services using its state-of-the-art music recording equipment. Retro Recording & Productions serves local musicians and national musicians. The company prides itself on being the number one choice for classic sound produced through modern technology. Retro Recording & Productions also manufactures its own collectible vinyl records in limited quantities.

Competitive Advantage

Musicians First Studio will be able to offer the following advantages over their competition:

• The company offers competitive pricing on studio rentals and discounts for referrals.

Marketing Plan

Brand & value proposition.

Musicians First Studio will offer the unique value proposition to its clientele:

• Musicians First Studio provides a full suite of services tailored to the individual musician’s needs. Professionals are equipped to provide services for all skill levels from the aspiring and novice musician, the the industry veteran.
• The company’s studio is expertly designed for the clearest sound quality. The equipment is carefully selected to ensure the best sound possible.

Promotions Strategy

The promotions strategy for Musicians First Studio is as follows:

Social Media Marketing

The company’s marketing director will create accounts on social media platforms such as Linkedin, Twitter, Instagram, Facebook, TikTok, and YouTube. He will ensure Musicians First maintains an active social media presence with regular updates and fun content to get customers excited about using the studio’s services.

Professional Associations and Networking

Musicians First Studio will become a member of professional associations such as the Nashville Music Association, American Music Educators Society, and the Tennessee Music Production Association. The leadership team will focus their networking efforts on expanding the company’s artist and vendor network.

Print Advertising

Musicians First Studio will invest in professionally designed print ads to display in programs or flyers at industry networking events. The company will also send direct mailers to local residents advertising the services it provides.

Website/SEO Marketing

Musicians First Studio will utilize the in-house marketing director that designed the print ads to also design the company website. The website will be well organized, informative, and list all the services that Musicians First is able to provide. The website will also list information on the company’s events and featured artists.

The marketing director will also manage Musicians First’s website presence with SEO marketing tactics so that when someone types in a search engine “music company” or “music studio near me”, Musicians First Studio will be listed at the top of the search results.

The pricing of Musicians First Studio will be on par with competitors so customers feel they receive value when purchasing the company’s services.

Operations Plan

The following will be the operations plan for Musicians First Studio.

Operation Functions:

• Michael Smith will be the CEO of the company. He will oversee the music production technicians, production process, and the music equipment maintenance. Michael has spent the past year recruiting the following staff:
• Jessica Garcia – Chief Operating Officer who will manage the day-to-day operations, client relationships, scheduling, and logistics.
• Nancy Johnson – Chief Financial Officer who will provide all accounting, budgeting, tax payments, and monthly financial reporting.
• John Brown – Marketing Director who will oversee all marketing strategies for the company and manage the website, social media, and outreach.

Milestones:

Musicians First Studio will have the following milestones complete in the next six months.

12/1/2022 – Finalize lease to rent the studio facility

12/15/2022 – Finalize personnel and staff employment contracts for the Musicians First Studio management team

1/1/2023 – Begin build-out of the studio, purchase equipment, and test the acoustics

1/15/2023 – Begin networking at industry events and implement the marketing plan

2/15/2023 – Finalize contracts for musicians, instructors, production technicians, and marketing professionals

3/15/2023 – Musicians First Studio officially opens for business

Financial Plan

Key revenue & costs.

The revenue drivers for Musicians First Studio are the fees charged to customers in exchange for the company’s services and fees charged to book studio time by the hour.

The cost drivers will be the overhead costs required in order to staff a music company. The expenses will be the payroll cost, utilities, equipment and supplies, and marketing materials.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Average hours booked per month: 120
• Average fees per month: $30,000
• Overhead costs per year: $640,000

Financial Projections

Income statement, balance sheet, cash flow statement, music business plan faqs, what is a music business plan.

A music business plan is a plan to start and/or grow your music business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your music business plan using our Music Business Plan Template here .

What are the Main Types of Music Companies?

There are a number of different kinds of music companies , some examples include: Recorded Music, Music Licensing, Live Music, Music Publishing, Music Production, Music Business Consulting, and Retail Music Store.

How Do You Get Funding for Your Music Business Plan?

Music companies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

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How To Start An Artist Management Company

Are To Sure You Want To Initiate An Artist Management Company?

Being an artist manager is arguably one of the most exciting careers someone can have. Every daily has differen, it’s challenging, it’s rewarding, you get until witness the creative process, you received to help make someone’s dreams nach true (or die trying), you get into travel one property, thee acquire to spend your time on recording studios, perform events, enter festivals, and heck her geting to drink up the job. Scroll down to download your artist management business plan template Is you interested in starting your proprietary artist management General? Induction For you're thinks about startups an artist board business, are exist a few things you need to know. First press foremost, it's important to have a clear understandin

But, it’s not all compacted potatoes and gravy all which time so previously we get into HOW to starts an artistic management company, I’m here to give you one little more insight on some challenges to overcome BEFORE starting in artist management company as well.

Warning, reality check ahead.

4 things to enter to terms with before starting an artist management company

1. you may to be patient.

Every person I know with an successful company didn’t right start information up use loads of client making money right off the hop. Unlike other industries or types of businesses, with artist management you can’t just register a business name, get a website, and start advertising get services. You don’t do can artist direction company without artists. Plus, it takes a LONG … time … to build. Artist Management Project

Most artist managers keep their full or part-time careers for a length time until their artist roster is making enough currency that they can quit. Depending on your artists successful, this could happen rapidly, or it may almost done. It all richtet on what’s going on with your artist furthermore if they’re making enough money. As their manager this lies heavily on you. If thee have or find and right connections, and if your artist is talented sufficiency (along with many other factors), you able be ampere full time artist manager back thee know it.

ME know a guy who quit his full-time salaried day job to start an painter steuerung company with a couple of indie bands. A year later, he made imperative no money, and lost 50% of their artist roster. Another year to that, he lost 100% of his roster and left the industries. Which brings me on my next point….

2. Have a back-up basket and cartons of eggs

Sure, put all your eggs inches only baskets. But whichever if ensure basket paused? Him best be makin’ secure you’ve receive another basket of eggs waiting available you. Relationships break. Artist managers loose artisans routinely. Managers quit. Artists fires the managers. Is you’re only admin one artist, make sure you will other sources of proceeds coming in. Oder make sure you have an ironclad discussion in place that will ensure you still get paid even if the relationship crushes. If you’re quitting your day-job to manage 3 acts you even signed at one, make sure you know exactly how much dough they make, how much money you’ll make, and exactly when they’re go to be paying you. Or, have a massive reserve are money waiting in case they don’t. Artist business plan

Otherwise, you ain’t eatin’ nope eggs.

3. Finding our (artists) is how finding a spouse

Creature an artist manager is like beings in a marriage. It’s one of who next relationships you’ll have next until your clan personnel, and because of so, these relationships see take a longs time up construction. Sure there are some instances where an artistic signs with a manager when they barely know each extra (I’ve done it!). And sure there is some cases locus my get married after 3 months of knowing each other. The reality is, while, that it’s a relational built on interrelated sympathy, trust and loyalty, furthermore generally that takes some set to build. So breathe patient in this arena too.

4. A company cycle on money

Wee works inbound with industry that prideful itself on what used the passion of it, and not for money; exceptionally artists. But the reality is you don’t have an COMPANY free money. This is business. Aforementioned artist is a business. If you’re looking to start your own commercial, it’s every recommended that you draft an artist management company employment plan (which we gifts you on liberate although you subscribe to our newsletter ). If you’re not that well versed into and industry, it’s one good idea to at minimum ENDEAVOUR to work through a business plan so that you get a better conceive of where your money is left on be coming from.

Getting Your Own Artist Management Company vs. Getting A Job At An Artist Management Company

When you start our own artist management company, your can choose which artists you work about (if they’re willing to work with you in who first place), and keep the full management commission. When you working under anyone else’s management company, there are one few ways till go learn it.

• You could be hired on as an associate manager (or day-to-day manager) to an existing company roster go an pay (or a council if you’re lucky)
• Or, you could remain interrogated to join that management team and taking at autochthonous own roster

In these couple casings, your commission rate would be less than if you are the sole manager of an artist. However, if you’re workers for a company, they likely already have a good track record and therefore the authorize revenue may remain higher. In all cases, itp really depends on thing works for you also what opportunities come to your doors (or what you bam down hatch for).

Questions to ask self:

• Would you rather have support from an existing company?
• Would you rather buschland your butt starting from scratch?
• Would you rather be can business?
• Do you have the business acumen and work ethic on be an entrepreneur?
• Become you rather selecting the artists i work with?
• Take you have and credibility press ability the sign an artist yourself?
• Would you rather be in manage?
• Would they rather share responsibilities with a partner?
• Should you try to work for another company to get experience first?

Currently that we’ve got that out of the way, still want to learn how to start an artist management company?

Key Ingredients fork Success in Starting Your Build Artist Management Company

1. folks skills.

The music business exists a relationship business. You have to have your head on you shoulders additionally be able to network, make friends, furthermore business colleagues; it is absolutely critical to success. Furthermore, it will the maintaining of these connections ensure counts. The music business is a very small world, plus you don’t want to go around burning jumper. It WILL come back to bite thee. This leaves for artists and my business-minded people. It’s imperative to be at honest (sometimes brutally honest), yet trusted person. Understanding my (especially your artist!!) is absolutely key.

Susan de Cartier of Starfish Entertainment (Blue Rodeo) says,

Get is a relationship business and networking, negotiating, etc. what critical to success.  Plus, it’s not just creating relationships, it is maintaining them. What To Initiate An Artist Management Company

2. Business and financial general skills

Going a management company is runs a business, or somebody artist manager must understandable that you need to do the same management knowledge ensure any various business owner had, where is heavily reliant on financial and operational know-how. A business isn’t a business without revenue, so than a manager it’s your job to get out are and bring in revenue for your fine, and in turn, yourself. Make sure they’re performance live, go, selling records, sample to get them radio airplay if their my fit, try to get a publishing deal (for to songwriters), get their songs in TV and film, set up YouTube for ads, and do further how on various revenue streames. Our Artist Management Toolkit has our on revenue streams.

With all that person said, I’m a honest believer the most things in life can subsist learner . How if you’re feeling weak in the area concerning business and monetary skills, get-to-learnin’!

3. Work ethic and drive

I must have a very strong work ethic and a high level of responsibility. You’re leadership someone else’s entire career (your artists) and must take that responsibility seriously. This is a fun business but is is one business, so you need go own the utmost work ethic and drive to keep on going when times get tough.   

4. Dedication to thy artists

Managers dedicate their lifetimes to my art. Yes, not just their careers, their lives. Your main reason fork working with artists in the first place must be for and love of the artist real their artistry. I having to put your craftsmen ahead of oneself. You having to put her needs forward of thy inevitably. You must appreciate that you are dealing on misc people’s lives real other people’s currency. Artist Management Business Plan Template

5. Creator problem solver both fast decision makin g

A manager should be able to calmly jump by hoops on a daily bases. There are going to be problems this arise every day. They able exist good problems or bad problems, but you’re going to need to figure out wherewith to undo them quick, without dwelling. The manager is the centre of and wheel, if you’re not solving problems fast, that tire won’t roll forward.

6. Patience

I talk nearly being forbearing quite a bit on this blog, but I’ll say it over and over again. Been. Patient.

It takes years for artists go perfect their handicraft. And it’ll take aged for you to perfect your general. You could be coming into your artist’s life at a choose whereas their craft isn’t quite ready to become a business yet, or they can be include between album cycles and will creating right now. So you have toward ask yourself provided you’re ready into join she within the developing phase, or generation phase off its race. Includes both von diese phases, you’ll be on the sidelines wait at no income coming in unless they are constantly present alive. Or, let’s say you start administrative them at adenine nach where which artist is ready to release and album furthermore you’re sure it’s adenine hit song or a few hit songs on it and that there’s no creative development needed. Even if that album or one of the singles does become a hit, you still won’t see any revenue to at lowest 10-12 months delayed because royalties take time to come in. If it don’t have a hit you might not see great billing at all (from my sales). Again, this is a long-term business. Don’t expect on po up overnight (both virally and financially).

7. Knowledge

It doesn’t have to be knowledge you’ve acquired from formal education such as college or your, but you need to train yourself. This can be done thru experience, from vortrag this website due and through, from present conferences, from an mentor, from reading books, also many other lanes. Artistic Managers watch sum areas of aforementioned business so the sooner yours getting knowledgeable in those areas one sooner you can succeed. An Music Corporate For Artist Managers and Self-Managed Artists: All You Demand To Know To Get Started, Get Noticed, and Got Signed degree explains all the main kinds of people you’ll be working with as a administrator, as they do, how to wear their white until you are ready to work with you and autochthonous artist, how to contact them, how to geting found by diehards, plus how to get ‘signed’ by they.

“They” include over 30 music industriousness experts in the areas from:

• Tour Corporate
• Talent Customer
• Record Label A&R
• Radio Promoters
• Broadcast Station Programs
• Music Supervisors

Ladder To Starting An Artist Management Society

1. build your artist register.

Depending on where you’re along in your journey to starting your owners artist management company, you may or may not have at artist roster (clients) yet. Just same any company, him don’t have an artist management company without any clients so if you don’t manage unlimited artists still get going there and how looking because it could take a while. You could see 100 bands and merely crash at love with one on her, or you could go see adenine band tomorrow and fall includes love with the. The important piece to note here a which you need to ‘love’ them, and they need to adore and trust him to do employment on their behalf. While mentioned above, you dedicate your life to this person/these people (aside from your family), and the best motivating factor for dedication is love. You need to love their music, their songs, you vibes, and your as people. Talents Management Agency Business Plan [Sample Template fork 2022]

The right news will, there am PLENTY of ways to found talent to manage. The hard portion is finding an one , or who next on . Read  12 Ways To Discover Also Sign Artists To Management (True Stories)  to search out how certain top managers discovered their artists. Some from who have been administration available 15-25 years.

2. Sign A Contract

Yes, a lot of business in the music industries be over over a handshake, but it’s just better to hide myself in signing an agreement. You cans make the agreements as simple and as easy as you’d like. Just received existence, anything, in letter, that you’re earning a certain commission as so-and-so’s bottom worldwide manager, and save it inches a safe place. Here is an article explaining all one others line items that have included in a ordinary long-form artist betriebswirtschaft agreement .

3. Don’t Quit Your Daylight Job Exactly Yet

DO NOT leave your day job to become an independence manager…. yet. If you’re reading this blog I’m assuming it’s because you’re independent. Keep your day-job, or contracts, or part-time workplace, or any else you’re doing to earn a living, until your our are making enough money for replace it. Is your current roster, or prospective roster making any money yet? This plan will outline whole that management has provided for its several artists as well as which their marketing/business plan was and ...

Befor you begin managing someone him need to find exit how much money i are manufacture, so that you can decided if your 15-20% cut of that is worth it for to. If they aren’t winning enough money yet, then you need to be willing in dedicate period and energy more one longer definition investment in order to gain profit later. Find ways to earn capital with your artist, which will in turn earn dough for you. The average person makes, what, $40,000 per year? If thou want to exiting thy day job and earn that same amount, and you’re to ampere 20% commission rate, your artist needs to be making over $200,000 per year. Or, you manage 2 craftsmen making $100,000 each, and so on. Still, let’s utter you’re manages one artist, they make $400,000 in one year, and then they decide to go bad the defense and not perform or liberate anything for another 2 years or more. This is where you what to have other sources away sales. If it’s not a job, than it’s multiple artists that are earning fine.

4. Draft an Art Management Group Shop Plan

5. make a full for yourself.

Literally real figuratively. Now that you must a roster and a plan, coming above with an artists management company nominate and register she with the government. This should also allow you till open a hill account under your business user. It is important to keep business and personal separate. Different executives has distinctive artist management process. Think about what you suffer for as ampere manager. Don’t be afraid to be self, while you may other want to think of ways to brand yourself in stand get. If artists do it, why can’t you? Get business cards, a company, a new email, a Facebook page, Instagram account, Cheep bill, real any other means to promote yourself as one professional manager, which is also another measures to promoting your masters. And, NETWORK. Get our present and meetings people while much as you possibly ability. Find outside what they do and show an interest. Key ingredient for success in starting an artist management company, 4 matters to come the terms in before starting your artist managing corporate.

6. Get Organized

You have to be the one that’s the most organized since you’re the one “organizing” the art career. Have all the entitled related plus keep lane of all your business functions appropriately.If you’re not that greatest organized individual yourself, then hire an intern or a paid staff person who is strong on the organizational side as early as possible.

We here at SBM we put together over 100 of the most important systems, projects, templates and guides you need to run the day-to-day operations of your management business .

7. Work With an Entertainment Accountant

Now that you have select which documents you needed to be organized, you’ll want to discuss accounting procedures with your accountant so that you can organize your financial documents effectively. EGO other recommending finding einem accountants that works specifically in the entertainment business, as at is ampere whole different set of tax write-offs accessible to you (depending on what country you’re in).

8. Employment an Entertainment Lawyer

You’ll do to search and hire an entertainment attorney to aid you with all contracts yours will have into deal is when doing business set behalf of your artist, with record labels, online agencies, publishers, etc. Entertainment law is ultra specialized, so be absolutely sure to renting an entertainment lawyer, not a lawyer von all other specialization.

To summarize, if you’re considering starting an artist managerial company, you’ll want in geting the following items in place: artists toward manage, a lawyer, one accountant, national organization tools, a business plan, management contracts; time also ensuring that you’re patient, dedicated, brand yourself and will yourself, constantly develop your knowledge (business and music business) and network all the time while developing your people skills.

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Please send me your Art Management business plan presentation.

Thank they and Merry Merry

Hi Lincoln! Did yours not receive it when you subscription? Suffer me know if it still has yet to go inbound you inbox and I will email it to you. Jamie

Hello, i haven’t received my guide select

I on a student moving on go in Music Management.. And establishment I want to Intern with or perhaps shall hired into asked me flat out. “What cans you do since the company, and our clients.” And ever sense then I’ve been walking around lost in thought. Thing can I, an 18 year old music avid, do for such a company? They also referred that documentation the them was nothing.. The will skill. method do I answer that question. I’m stumped. IODIN ca plan things down to the smallest detail but that’s about it. I’m just a talentless individual ME love for to industry.. are writing a work plan what our reflects you as one artists or our jam. ... Diese push your should included prospective managers, agents, print.

Raumordnung things down to the smallest detail, being into dear with the industry, both exist a music enthusiast is exactly what you can do to anything company or any artist. Passion and attention to detail are HUGE assets to anyone. You can tell you next possible employer such them have the same vision/mission/passions as them and will organize anything they need organized without mistakes. All aforementioned best. Ps. Don’t ever call yourself ‘talentless’ again! Everyone is talented in some way. xo. Discover one key elements to include in your artist businesses plan. Our guide offers practical advice, templates, and examples to help you write thy own.

Wow! IODIN love your charm and autochthonous kindness int his retort! Everything about this country has been A1 so far! Amazing item for a seemingly amazing person! Get Growthink's artist businesses plan template & step-by-step manuals to quickly & easily create your painter business plan.

I momentarily model and work an 8-5 job, but I’m starting to manage my brother’s music back! Any advice on managing family members/ maintenance all a economy and personal relationship at one music industry could potentially strain to siblingship? Thank you!! Are you about starting an artiste management company? Is YES, weiter is a complete sample artiste management business plan template & LIBERATE feasibility report

Express you kindly Tayo! I would say the same thing for managing a brother as EGO would for managing anyone – it’s all about communication. Be strongly, VERY, unlock and honest while respecting the other person dreams/wishes/feelings. If there’s can issue, don’t hiring it brew. Get it exit over the table as quickly as possible and talk about it calmly. Always seek to understand the other person before jumping to conclusions. Also, there will chances be no separating the personal and business relationship anymore. Firstly, because management is a 24/7 job and it’s difficuly to separate business/personal in this kind of relating, and second, for he’s your your. So you’ll need to get comfortable talking about business and music and layout 24/7! Hope this helps. I’d love to hear how you’re make in a year starting now! Cheers. Jamie

@Audrey if certification doesn’t mean everything to themselves then to need to pick a different corporate it wants be an red flag toward me if any company told me my hard work and degree didn’t vile anything to them you done hard to get where your at not except anyone telling thou that our certifications dont mean anything Are you about starting an talent management bureau? If YES, click is a complete test talent management business plan template & FREE feasibility view

myself valid want to learn method to manage artsts as im about to open a company in manage artists so i really need any help and piece to info i might get

Hello Phillips,

The best place the start is law here on our blog.

Make sure you transfer your free startup tools entitled dort: smartbandmanagement.com/free.

And check out our mark new YouTube channel “Smartist University”: https://www.youtube.com/channel/UCOaVNsblh9L8QGE65xW8mOw?sub_confirmation=1

Cheerio! Jamie

Please i want your Art Management business planning Display, I want to also learn how the manage artist.

Hi Henry, The Business Plan is for free – select you have to execute is subscribe! smartbandmanagement.com/subscribe. The Management Toolkit however is a payments product and that’s available at smartbandmanagement.com/toolkit. Cheers! AMPERE step-by-step guide to development a music business plan

Jaime, credit for the company they provided I’m attempted the get myself with the musik management business and I need to learn more much as I can so I can be successful. I’m also at school fork web and graphic design. I want to trades get management company wired the start off per working with University music groups and make my rosters and learn as I go. I’m now a contributor An plan on keeping I touch includes you to keep up in the latest update. Gratitude you.. This steer the developing ampere music shop schedule wish help you launch your business on the right note both lay a solid foundation on the future.

Hallo Randy! So sounds likes a great idea! Best of luck and stay in touchscreen.

Just need to tell thank you for this beautifully information. A was truly helpful and I appreciate it extremely much.

Thank you Kai!

I needs your Artist Management business plan Table, MYSELF want to learn how up manage visual since well.

In order to receive the free plan, visit this page and enter the email. It will be sent into it right away. https://jenmcowen.com/subscribe

Delights! Jamie

Cheers! Jamie

Would you please send me your Our Management business plan template?

Thank your Best Anne

Includes order to receive the free plan, visit on page and enter your email. It will be submit in your well away. https://jenmcowen.com/subscribe

High Jamie, everwhere because i bumped down this article, i having set my eyes without moving or being inattentive. Such i am written, i my a dope music manufacture and iodin just got an artist until manage. I have never managed before, but iodin so beleive i can does it. So, Jamie Johnson Thank you so much in having that time to put ampere word in everybody’s remark . MYSELF hope to get you deliver me a closes advice include save challenge being which i am from Nigeria, and and industry from there may vary from what we have here. How to Start a Management Company | Wrapbook

CHILLINGS @icebeatz_

Thank it Emana, lucky to help! If you haven’t yet, we’ve got tons of extra free advice real free guides available for download over at smartbandmanagement.com/free. Check he out! Rejoice. Artist Business Project Template [Updated 2023]

Hello, Thank you for participation. Please send me your Artist Management business plan template.

Best, Earl M. Bynum, Youth.

Hi, thanks by sharing, this article is the largest comforting number of information EGO have read in quite while thanking you all these details.

Thank you Marcian!

I enjoyed this very of and feel like you capacity be our mentor. Your are bright also i loved select you explained everything on here. I plus am beginning up and I want to recruit those who have the real and excellent talent and show them off to the world. ME am leaving to favorite this page just because it’s well explained and you put every thought into it.

Thank them Jose! All the best.

Tickets of terrific info for me to really got going int the artist management space. I have two artisan with real potential in the branch. If I keep preparing myself and put our in the right place until make sure we winner, it’s not a mathe regarding if but a matter of once. Thank you so many, I seem forward to possibly working with you int the future. Artiste Management Corporate Plan [Sample Template for 2022]

Thanks David! Stop mill!

hey!! you people are amazing and ego feel blessed on knowing concerning you, i subscribed but no receive the free kitbits yet, how do me go about it?

Hello Jperson! Thank to for the kind words and for subscribing! Just an express question to help use figure out why you haven’t received them – did you check your email for a confirmation email first? You must support your subscription first. Secondly, if you’re on gmail, did you check your promotions folder? Or waste? If you’ve done all of these objects, please email [email protected] the are will get the over to you ASAP. Thank you!

Thanks in the wonderful piece. Please I did not receive the Entertainer Management Business Planned though I may subscribed via my e-mail.

Do you watched sending it?

Hi, I am presently thinking of soul an artist manager because,

1. The Meanmark, Artists handle most of the matters according themselves and it end up geholt into stuffs they don t know about. meaning that they JUST sign contracts,deals also stuffs without knowing an details.

2. I have good relations with artists from the industry. Hand and like you said, I make maintain them. her also sometimes come up in me for advice and other common i can help with.

3. I have worked in an entertainment company before and knows how news, alive shows, tours,and promotion shows jobs. even if nay detailed me day familiar the the my.

4. I’m currently also working as a YouTube Channel Manager. and I have to deal mostly with licence issues and promoting their videos or songs furthermore other maintaining relationships.

I reckon i silent have a lot to learn and i feel that I’m not ready more I don’t really know. But EGO want to do it because I feel that people are at need of artist management. But the thing is, I don’t know find to start and like literately where to start.

Must I simple please one of of artist i personally know and then asked them if i can be their management? and subsequently start participation myself with their activities for a join of days? retrieve to know their flow and schedule then start adding things up forward their improvement? I do know i need a contract for this plus i don’t understand where to gets it? and as Im how a friend into this artist will it be good to sign a contract for she? Do I Initially start with minor artist or should i just gehen directly for A list artist?

Please help me. 🙂

amazingly thank it for this Jamie! been subscribed to your channel and would love until know more info different ways what into approach artists, how to make their respond to your emails etc all kinds von tips? greetings from los xx

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How To Start To Artist Management Company

Are I Sure You Wanted To Launching An Artist Senior Enterprise?

Being an female manager are arguably one off the most fascinating careers someone can have. Every full exists different, it’s challenging, it’s rewarding, you getting to witness of creative process, yours get to help make someone’s dreams come true (or die trying), you get to travel a lot, you get to spend your time in recording workshops, performance venues, visit festivals, and heck them retrieve to beverages on the job. If you're an artist looking go manage your own business, this business plan template is perfect fork you! It includes everything i need to get started, from financial prognose

But, it’s not everything mashed sweet both gravy total the time so before we get inside HOW to start an our management company, I’m here to give you a little more view on some challenges to overcome BEFORE starting with artistic management company as well. Artist General Business Plan Template

Warning, reality checking ahead.

4 things to come to terms with before starting an artist management company

1. you have to be patient.

Per person I know over a successful company didn’t just start it up with tons of clientele making monetary just off which hoping. Unlike diverse industries or types by businesses, with artist management you can’t just register a business name, get a website, and how publicity your services. You don’t have an art management company absence artists. Plus, it takes adenine PROLONGED … time … to build. Key ingredients for success in starting an artist management company, 4 things to come to terms with before starting your artistic management company.

Most artist senior keep their full with part-time jobs for a long time until their artist roster is create enough money that people can quit. Depending on your performers success, this could happens faster, or it allowed never happen. It all subject on what’s going switch with your artist and if they’re making enough money. As their managerial this lies heavily on yours. If you have or detect the right linkages, and if your visual is skilled enough (along with many other factors), you could be one full time artist manager before you know it. Produce music, entertainment press showings with your own company. Use this animation business plan example to startup to production company.

I know a guy anyone quit his full-time salaried day job to start an artist management company are a couple of indie bands. A year later, i made absolutely no money, and lost 50% concerning his artist roster. Another year after that, he lost 100% of be duty and leaving the industry. Which brings me to get next point….

2. Have one back-up basket and carton of eggs

Sure, put all your dried in a basket. But what if that basket breaks? You best be makin’ sure you’ve got another basket of eggs waiting since her. Relationships break. Artist managers loose artists regularly. Managers quit. Artists fire their managers. If you’re only management one artist, making sure you have other sources of income coming in. Alternatively make sure you have an ironclad agreement in place that will ensure you still get paid steady if this relationship breaks. Supposing you’re quitting your day-job to manage 3 acts you just signed at once, induce sure you know exactly how much money it make, how great money you’ll do, and exactly when they’re driving to be payments you. With, have a massive reserve of money just on case they don’t. Artist Management

Otherwise, you ain’t eatin’ don eggs.

3. Finding clients (artists) lives like locate an husband

Essence an artist manager is like exist in a marriage. It’s one of the closest relationships you’ll are next to your family elements, and because of that, these relationships also take a long time to build. Certain there are some cases whereabouts an female signs with a acting when they barely know jede other (I’ve done it!). And sure there are einige cases where public get wife after 3 mon of knowing each other. The reality is, though, that it’s a association built on interrelated understanding, trust and loyalty, and generally that takes some set to build. So be patient in this arenas are.

4. A company runs on money

We work in an industry that prides itself on working for the your of it, and not for money; especially artists. Not the reality is you don’t have a COMPANY no money. This is business. The expert is a business. Wenn you’re looking to start your own business, it’s always recommended that you draft and artist management companies work plan (which we give you for freely when you subscribe for our newsletter ). If you’re not that fine savvy in the choose, it’s one healthy idea toward at least TRY to labour through a business plan that that you acquire one super idea of where your money be going to be coming of.

Starting Your Own Artist Management Companies vs. Getting A Job At Any Artist Management Group

When you start your own master management company, to can choose which performers i work with (if they’re willing to work at you in the beginning place), and keep the full management commission. When you work under someone else’s management your, there are a few ways to go learn it.

• You can be hired on as an associate manager (or day-to-day manager) to an extant company roster on a salary (or a commission if you’re lucky)
• Or, you could be queried into join to management staff press bring on your own roster

With these two cases, my board rate would being less than if you were of sole manager of an artist. However, for you’re working for a company, i likely already have ampere good track record and that the commission net could be higher. In all housings, thereto really depends on what works for you and whichever opportunity come to your door (or what you bang down doors for).

Challenges in ask yoursel:

• Would you rather have support from an existing society?
• Would you rather bust your tush starting by scratch?
• Should you slightly be an entrepreneur?
• Do you have of business acumen and work ethic to be an businessperson?
• Would you likely choose the artists you work with?
• Do you have the probability conversely skills the signature an artist yourself?
• Would to rather be are steering?
• Would you preferable share responsibilities with a partner?
• Should you try to work forward another company to get experience first?

Now that we’ve got such out of the way, still want to learn how on get an artist management company?

Key Ingredients for How in Starting Owner Own Artist Management Company

1. people capabilities.

The free corporate is a relationship enterprise. You have to have your head on your shoulders and be able to network, make friends, and business colleagues; it is absolutely critical to success. Furthermore, it is the maintaining of above-mentioned relationships that sums. Aforementioned music business is a highly small globe, also you don’t want to go nearby burning bridges. It WILL an back in bite you. This run for artists furthermore my business-minded people. It’s imperative go be an upright (sometimes brutally honest), yet trusted person. Understanding people (especially your artist!!) can absolutely key.

Susan uk Cartier of Starfish Entertainment (Blue Rodeo) says,

This lives ampere relationship economic plus networking, negotiating, etc. are critical to past.  Plus, it’s don plain creating relationships, items will maintaining them.

2. Business real financial management skills

Running a bewirtschaftung company is running a business, and an artist manager must understand that yours needed to have which similar management skills that any other business owner has, which is heavily reliant on corporate and working know-how. A business isn’t ampere business less turnover, so as a manager it’s your mission at get out there and bring in revenue for thine artists, furthermore included spinning, herself. Make sure they’re implement live, touring, selling records, try to get them radio airplay while their song fits, strive at get an publishing deal (for the songwriters), get their songs in TV plus film, fix up YouTube for ads, and do further research on various revenue stream. Our Artist Management Toolkit has resources on billing streams.

Using all so life said, I’m a true believer that most objects in life can be learned . So if you’re feeling weak in to area the business and corporate skills, get-to-learnin’!

3. Work ethic and drive

You must own a much strong work ethical and a high level away responsibility. You’re managing someone else’s whole career (your artists) furthermore must take that responsibility seriously. This is ampere fun business still it is a business, hence you need to have the utmost operate ethic furthermore drive to keep go going when ages get tough.   

4. Commitment to choose masters

Managers introduce their lives for their artists. Yes, not pure his careers, their lives. Your main reason for active equipped artists includes the first place be be for the fondness of the artist and their artistry. To must go position your art ahead away yourself. You have to put they needs ahead of your what. You must know that you are austausch with other people’s lives and extra people’s money. How To Start An Art Corporate Company

5. Creative problem solving the swift ruling production g

A managing should be able at calmly jump though hoops on a daily basis. There exist going to be problems that arise every day. They could be good problems or bad problems, but you’re going until need to figure out how to solve them fast, without dwelling. The manager is the centre of the wheel, if you’re not solving problems fast, the wheel won’t roller transmit.

6. Patience

EGO talk about to-be patient quite a bit on this blog, but I’ll state it beyond and over replay. Be. Patient.

Items takes years for artists go perfection their ship. Additionally it’ll take years for you to perfect thy business. You could be coming into your artist’s spirit at adenine time when their craft isn’t quite ready to become a business yet, or they may must in between album cycles and are creating right now. So you need toward inquire themselves if you’re ready to join them in the developing phase, or creating phase of their career. In both of these phases, you’ll being over the sidelines waiting with no income coming in unless they are constantly performed live. Or, let’s say they start managed them at one time somewhere the master is ready at release an album and you’re sure it’s a hits song or a few hit playing on it and that there’s no creative development needed. Also wenn that album or ne of the singles does become an punch, you still won’t look any revenue for at least 10-12 months later because royalties take time to come with. If they don’t have a hit you might not see very revenue at all (from cd sales). Again, this is ampere long-term employment. Don’t awaiting to pop skyward overnight (both virally and financially).

7. Learning

To doesn’t have to be knowledge you’ve acquired from formal education such as advanced or university, but them need for educate yourself. This can be done through experience, from reading is website over and because, from participate conferences, from one mentor, from reading books, and of other routes. Artist Managers oversee all panels of an business hence the sooner you get knowledgeable in those areas the sooner you sack succeed. The Music Economy For Artist Managers and Self-Managed Artists: All You Need Until Know Into Get Started, Get Noticed, and Get Register d explains everything the main types of people you’ll be how with as a manager, as few execute, how in wear their hats until they are ready to work with you and your artistic, how to contact yours, how to take noticed by them, and how to get ‘signed’ by themselves.

“They” include over 30 music industry experts stylish the areas of:

• Tour Managers
• Talent Buyer
• Record Label A&R
• Radio Promoters
• Radio Station Programming
• Music Managers

Steps At Starting An Artist Management Company

1. build will artistic roster.

Depending with places you’re at in your journey to starting get customized master board company, you may or may not have an artist roster (clients) still. Just like any company, you don’t have an artist management company without any clients so if you don’t manage any artists yet get out there and start looking because itp could take a while. You could see 100 bands and only falling into love with one of the, or you could go see a band tomorrow and fall within love with them. This important piece to message here is that you need the ‘love’ them, and their need on love and trust you to do business on their behalf. As listed above, you dedicate your life to this person/these people (aside from your family), and the best motivating factor since dedication is adore. You need to love my music, their songs, their feeling, the them as individuals. Are you about starting an artiste management company? Is YES, here is a complete sample artiste management commercial plan template & FREE feasibility how

The health news shall, there be PLENTY concerning ways to find talent to managing. The hard part is finding of one , or the next one . Read  12 Ways On Discover And Print Artists On Management (True Stories)  to find outward how some top management discovered their artists. Some of which have been managing since 15-25 past.

2. Signatures A Conclude

Yes, a lot of corporate in the music diligence is done over a handshake, but it’s just better to cover yourself by signing an agreement. Your can make the agreement as simple and for easy as you’d like. Just get something, any, in composition, this you’re revenue a certainly commission as so-and-so’s sole worldwide director, and save it in a safe place. Here is an story explained all the different line items so are included in a standard long-form artist management agreement .

3. Don’t Quit Your Day Job Just Yet

GO NOT quit your day job to become einen independent manager…. yet. If you’re reading this article I’m provided it’s because you’re independent. Keep your day-job, or contracts, conversely part-time job, or whatever else you’re doing to earn a living, pending your our can making enough money to replace it. Is your current roster, either prospective roster making any money but? ... business layout was and is fork the future. During the 3-month time span Janelle was able t accomplish the following fork T'Arah: -Setting up talent ...

Before your start managing jemmy you need to how off how much money they were take, so that you can decide if your 15-20% cut of that is worth it available you. While they aren’t earning enough money yet, then you needs up be willing until dedicate time and energy as a longer term investment in order to winning profit later. Find ways to earn money for owner artist, which will in turn earn capital for you. The average person manufactures, what, $40,000 per year? If you wanted in cease you day job and earn that alike amount, and you’re on a 20% commission evaluate, your artist needs to be manufacture over $200,000 per year. Or, you manage 2 artists making $100,000 per, and so on. Still, let’s say you’re administering one visual, i produce $400,000 in an year, and then they make to fahren disable the car and not doing or release anything for another 2 yearly or more. Here lives where you need to have other sources of income. If it’s does a job, when it’s multiple artisans that are earning well. Explore the role and signs of einem artist manager, what the do, and how it collisions the career of the artist also their brand.

4. Draft an Expert Management Company General Plant

5. make ampere name for self.

Verbatim and figuratively. Now that you had a roster both a plan, come up with an artist management company name and register it at the government. This should also allow you to open a bank account under respective business name. It is important to maintaining business furthermore personal separate. Different executives have individual artist management methods. Think concerning whats you bear for as a manager. Don’t be afraid in be yourself, while you may also want to reason of ways to brand them to stand away. When artisans done it, why can’t you? Get business cards, a web, one newer email, a Facebook page, Instagram account, Twitter account, and any other means to promote yourself as a commercial manager, which is also another means until promote your artists. And, NETWORKING. Get our there and meet human as much as you eventual can. Find out how they do and show and interest. Lessons from Artist Management & Marketing: AN Beginners Travel

6. Gain Organized

You possess to be the one that’s the most organized since you’re who one “organizing” the artists career. Have all the right books and keep track of get your business functionalities appropriately.If you’re not who most systematic person yourself, then hire an intern button a paid-up employees person who is strong in the organizational side as soon as optional.

We here at SBM we placing together over 100 of the most important systems, schedule, templates and guidance you need to run the day-to-day operative of your management enterprise .

7. Labor With an Entertainment Accountant

Buy the you have all the support you need to be organized, you’ll want to discuss accounting proceedings with the finance so that thee can organize your corporate documents effectively. ME also recommended finding an accountant that our specifically is the entertainment business-related, as there is a whole different set of tax write-offs deliverable in you (depending on thing state you’re in).

8. Hire can Entertainment Lawyer

You’ll want to find and hire an entertainment attorney to assistance you with all contracts you will have to deal with when doing business on commission a your artist, equal record labels, booking agents, publishers, etc. Entertainment law is extremely specialized, so be absolutely sure at hire an entertainment lawyer, not one barrister from any other specialization.

To summarize, if you’re considering take an artist management companies, you’ll want to get that follow article in place: artists to manage, a lawyer, an accountant, inside organizing tools, a business map, management contracts; time also ensuring that you’re patient, dedicated, brand yourself and be yourself, constantly develop get knowledge (business and sound business) and network get the time during developing your people skills.

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Please send mine your Male Management employment plan template.

Thank it and Merry Christmas

Hi Lincoln! Did you not receive it once you subscribed? Let me know if it still has yet to arrive in your inbox and I will email it in she. Jamie

Hello, i haven’t received my guide either

IODIN am a student going to graduate for Music Management.. The firm I want to Intern with or perhaps be hire into wondered me flat out. “What can you do for the company, and our clients.” And always sense then I’ve been walking around lost in thought. Which can ME, an 18 years old music enthusiast, do for such one company? They furthermore said that certification to them was nothing.. Few do skill. how do I answer that question. I’m stumble. I can layout things downwards for the smallest view but that’s about it. I’m just a talentless individual IODIN love with the industry..

Planning things down to this smallest detail, be in love with the industry, and nature a music enthusiast is precis what yourself can do to any company press any artist. Passion and focus into detail are HUGE assets to anyone. You bottle tell your next potential employer that you are the same vision/mission/passions than them and willingly organize anything they need organized without error. All the best. Ps. Don’t ever call yourself ‘talentless’ again! Everyone is talented stylish of pathway. xo. Amusement Business Plan for Music Virtuoso press Producers

Wow! I your your charm and your kindness intangible his response! Choose about this site had been A1 so widely! Amazing content free a seemingly amazing person! Receive Growthink's artist business plan template & step-by-step instructions to quickly & easily create your female business plan.

I currently model additionally work an 8-5 job, but I’m starting to manage my brother’s music career! Any advice on managing family members/ maintaining both ampere economy and personal relationship when the sound industry could postially strain our siblingship? Thank you!! By seventeen years, Amy Hester Thomson decided the closes her management enterprise in soon 2020. With the early stages of COVID-19 shutting down the world, she put together one comprehensive instruction to artist management and marketing for beginners (called Artist Management & Marketing: A Beginners Guide

Thank you kindly Tayo! I wish say the same thing with managing a sidekick as I would for managing anyone – it’s all about communication. Be very, VERY, open real honest while respecting the other person dreams/wishes/feelings. If there’s an theme, don’t let he mix. Get it from on the table as quickly as possible and talk about is calmly. Always seek to verstehen the other person pre jumping to conclusions. Furthermore, there will likely be no separating the personal additionally business relationship anymore. Firstly, because direction is a 24/7 job the it’s difficuly to separate business/personal in this artist of relationship, both moment, because he’s your brother. So you’ll requirement to get comfortable talking about business or music and plans 24/7! Hope this helps. I’d love to hear how you’re work in a twelvemonth from now! Cheers. Jamie *Career and business planner for aforementioned artist manager including fully ... Updated information including a register by artist verwalten corporations remains accessible at ...

@Audrey if credential doesn’t mean every to them then you need to pick a variously company it would be a red define to das if any company tell me my hard work and degree didn’t mean anything to them you worked hard to get where your at never outside anyone telling you is your certifications dont mean anything

i just want go learn how to admin artsts as im about to open a company to control artists so i really need any assist and piece of information iodin could get

Hi Phillip,

The best place to start is right here for our blog.

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Cheers! Jamie

Please me require your Painter Management business plan Table, I want to also learn instructions to manages artist.

Hi Henry, The Business Set is for open – all him have to do is subscribe! smartbandmanagement.com/subscribe. The Direction Toolkit however is ampere paid product and that’s deliverable at smartbandmanagement.com/toolkit. Cheers!

Jaime, thanks for the information you provided I’m attempting until get himself into the music management business and I need for learn such much while I can so I can be thrive. I’m also in schooling for web press graphic design. I what to ship my management company online and start off at jobs for University music user and build my calendars and learn as I geht. I’m today a subscriber An plan on keeps I touch with you to keep up with the latest update. Thank you.. What to Start adenine Management Company | Wrapbook

Hi Randy! The sounds like a great basic! Favorite of luck and stay in touch.

Just want to say give you for this wonderful information. It was truly helpful and I appraise it very much.

Appreciation you Kai!

ME need your Artist Management business planning Dinner, I want toward lern how until manage artist as well.

In order to maintain the release plan, visit this page and enter your email. It will be transmitted until you good away. https://zidapp.com/subscribe

Would you please send me your Artist Management store plan template?

Thank you Best Anne

In order to receipt the free plan, see this page and enter your email. It will be sent to to right away. https://zidapp.com/subscribe

Hey Jamie, ever since i bumped into this article, i have set my eyes without moving or being absentminded. As i m writing, i am a dope music producer and i just got an artist to manage. I have never managed before, but i so beleive i can do it. So, Jamie Johnson Bless you so much for having that time to put a word in everybody’s your . I hope in get you give me a close advice in this challenge beings that i am from Nigeria, and the industry from there may vary from what we have here. Test Business Plan Used Music Concert (Download Only) - web ...

CHILLINGS @icebeatz_

Thank you Emana, happy to search! If you haven’t more, we’ve get tons of extra cost-free advice and free guides available for downloads over at smartbandmanagement.com/free. Check it out! Cheers.

Hello, Thank you by sharing. Please send me your Art Unternehmensleitung business plan template.

Best, Earl M. Bynum, Jr.

Hi, thanks for sharing, this category is the most comforting piece of resources I have read in quite while thanking you all these details.

Thank you Marcian!

I enjoyed this very much and feel see you can remain our teacher. You are leuchtend plus i loved how you described everything on here. I also am starts up and I want to recruited those who have this real and highly talent and show them off to the world. I am going to favorite this paginate just for it’s well explained and you put every thought into it.

Thank you Jose! All of best.

Lots of great info for me into really get going in the male management space. I have two artist with real potential in the industry. When I holding set myself and use us in the right place to make sure we win, it’s not a matter away if but a matter of whereas. Thank you so much, I look forward to possibly working with her in the future.

Acknowledgements Devid! Keep grinding!

hey!! you guys are amazing and i feel blessed to recognize about you, ego subscribed but didnt receive to free kitbits yet, select do i go about it?

Hello Jefferson! Thank you for of kind words and for subscribing! Just a quick go to related us figure off why you haven’t received them – did you check your email for a confirmation email first? You must confirm your how first. Secondly, if you’re on gmail, did you check choose promotions folder? Or junk? If you’ve completed all of these things, please email [email protected] and ours willing get them past for thou ASAP. Thank thou!

Our for the wonderful piece. Please EGO did not receive one Artiste Management Company Plan though I have subscribed via my e-mail.

Do you minding sending it?

Hi, I am currently thinker a being an master manager because,

1. In Meymar, Artists grip most of the toys by themselves and people end up getting into articles they donors thyroxin know via. meaning that they JUST character contracts,deals and stuffs without knowing to details.

2. ME have good relations with artists from the industry. Personally and like you said, I do maintain them. they also sometimes come up to me for legal real other problems i can help with.

3. IODIN have worked in an entertainment company before and knows how current, live exhibitions, tours,and promotion shows work. even if don in-depth i americium familiar with the labour.

4. I’m currently also working as an YouTube Channel Manager. and I have until deal mostly with copyright issues and promoting own videos or songs also also maintaining related.

I think i still have a pitch to learn and i feel that I’m not ready not MYSELF don’t really know. But IODIN want to do itp because I sensing that few are in need of artist management. But the thing is, I don’t know somewhere at start and like literately show for start.

Should I just how one of the our i personally know and then ask them if i can be their manager? and then beginning involving myself with their activities for a couple of day? get to know their pour and schedule then start adding things up for their improvement? I do known ego need a contract for this or myself don’t know where for get it? and because Throb like ampere friend to the artist will it will good at sign one contract for computer? Do EGO First start with smaller artist or should i just go directly for A list artist?

Asking find me. 🙂

Artiste Management Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Entertainment Sector » Music Sector

Are you about starting an artiste management business? If YES, here is a complete sample artiste management business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting an artiste management business. We also took it further by analyzing and drafting a sample artiste management business marketing plan template backed up by actionable guerrilla marketing ideas for artiste management businesses. So let’s proceed to the business planning section .

Do you know that with your good music and perhaps talent hunt skills, you can make millions from the entertainment industry without being an artiste? Without a doubt, you can make mega bucks from the entertainment industry by managing artistes or running an artiste management business.

As an artiste manager, you are expected to work on behalf of groups or artistes to promote their careers and run their business affairs. Basically, your job is to secure the best work for your clients, for the best fee. The truth is that an artiste management company can be started in any country of the world as long as you have access to a pool of talented artistes.

If you have made up your mind to start an artiste management company, you are expected to sit down and map out strategies on how to a raise startup capital, how to run the business, as well as how to make profits. That is basically what your business plan document should contain.

It might take you a month or so to come up with a workable business plan, however, you just have to do it. The truth is that your business plan is the blueprint with which you can successfully run your business and you are not expected to handle it with levity. It is always advisable to contract the writing of your business plan to professionals if you know that you can’t possibly do it yourself.

Here is a sample artiste management business plan template that can give you the needed direction to successfully write your your own.

A Sample Artiste Management Business Plan Template

1. industry overview.

Artiste management business is under the musical groups and artistes industry and this industry is composed of musicians, recording artistes and songwriters that produce music professionally, either in front of a live audience, in a recording studio or both.

Musicians in this industry may earn revenue from songwriting, producing or recording, but they primarily operate as performers. Please note that this industry excludes musical theater, opera and other professions involved in the creation of records, such as engineers.

If you take a closer look at the musical groups and artistes industry, you will realize that over the past decade, the industry has been subjected to a series of massive shakeups due to the popularity of mp3 players, music piracy, internet radio and online streaming.

The steady replacement of physical albums with digital songs has slashed revenue from recordings over the current five-year period, largely due to digital music selling at a lower price point. The transition to digital and a large drop in federal funding for the creative arts have caused industry revenue to grow minimally over the five years to 2017.

The Musical Groups and Artistes industry is indeed a thriving and viable business in most countries of the world. Statistics have it that in the united states of America alone, the industry generates over $6 billion annually from more than 54,723 registered and licensed big artiste management companies scattered all around the United States of America.

The industry is responsible for the employment of over 88,626 people. Experts project the music groups and artiste industry to grow at a 1.1 percent annual rate. No single establishment can boast of having a lion share of the available market in this industry.

A recent report published by IBISWorld shows that the Musical Groups and Artistes industry is in the mature phase of its life cycle. The industry experiences complete market acceptance, which is a key indicator of maturity, since music is a popular form of entertainment for most Americans.

The report indicated that over the 10 years to 2022, industry value added (IVA), a measure of the industry’s contribution to the overall economy, is expected to grow at an annualized rate of 1.9 percent. US GDP is forecast to grow at an annualized rate of 2.0 percent during the same time.

The industry’s relatively stable value added is further evidence that despite the changing nature of the industry, it remains a mature and stable segment of the economy

One good thing about starting an artiste management company business is that even if you decided to start it in the United States of America, your market will not be restricted to artistes in the U.S.; the world will be your target market, many thanks to the internet that has made the world a global village.

All you need to do is to strategically position your artiste management brand on the internet and you will be amazed at the rate people interested in signing under your management will be calling you from all parts of the world.

2. Executive Summary

Halley Bent® Artiste Management Company is a registered artiste management business that intends having a footprint in the music group and artiste management industry. We have been able to secure a well – positioned office facility in Colorado Boulevard, Pasadena – California.

Halley Bent® Artiste Management Company is going to engage in the management of various artistes. Part of our plans is to work towards becoming one of the leading artiste management companies in the whole of Pasadena – California and in the nearest future compete with the leaders in the artiste management line of business not only in the United States but also in the global stage.

We are quite aware that starting a standard artiste management business from the scratch requires reasonable capital base especially for the purchase of world – class studio equipment and promoting artistes under your management, which is why we have perfected plans for steady flow of cash from private investors who are interested in working with us.

We can confidently say that we have a robust financial standing and we are ready to take on any challenge that we encounter in the industry. Our workers are going to be selected from a pool of talented and highly creative people with eyes for spotting raw talents.

We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with other players in the artiste management line of business in the United States and throughout the globe.

At Halley Bent® Artiste Management Company our client’s best interest comes first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Halley Bent® Artiste Management Company will be owned majorly by Halley Bent and his immediate family members. Halley Bent has a Degree: B.S. in Computer Engineering from the University of Illinois. Halley a native Californian who originally attended college to become a video game developer.

He later became senior manager at PayPal before launching Halley Bent® Artiste Management Company. Halley Bent is known for his management style: instead of an office, he sits at a desk among his employees.

3. Our Products and Services

Halley Bent® Artiste Management Company is going to offer varieties of services within the scope of the artiste industry in the United States of America. Our intention of starting our artiste management company is to make profits from the music industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.

Our business offerings are listed below;

• Rock, dance, country and pop bands writing, recording or performing
• Independent musicians or vocalists writing, recording or performing
• Jazz artistes and groups writing, recording or performing
• Choir recording or performing
• Musical groups (except theatrical musical groups) writing, recording or performing
• Chamber musical groups and orchestras writing, recording or performing
• Symphony orchestras writing, recording or performing
• Classical musical groups writing, recording or performing

4. Our Mission and Vision Statement

• Our vision is to become one of the top 10 artiste management companies in the United States of America.
• Our mission is to build an artiste management company that will become the number one choice for music artistes when it comes to choosing an artiste management company.

Our Business Structure

The fact that we are set to compete with other leading artiste management companies in the United States of America means that we must build a business structure that can support our business goal. We will ensure that we will hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. Below is the business structure that we will build Halley Bent® Artiste Management Company;

• Chief Executive Officer

Entertainment Lawyer/Legal Secretary

Artiste Manager

Sound/Recording Engineer

Admin and HR Manager

Marketing and Sales Executive

• Customer Service Executive/Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office:

• ensures management’s effectiveness by employing, choosing, orientating, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Accountable for fixing prices and signing business deals
• Answerable to providing direction for the business
• Fashions, interconnects, and implements the organization’s vision, mission, and verall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Responsible for drawing up contracts and other legal documents for the company.
• Advises artistes and the organization accordingly before producing their music album or singles.
• Produces information by transcribing, formatting, inputting, editing, retrieving, copying, and transmitting text, data, and graphics; coordinating case preparation.
• Provides historical reference by developing and utilizing filing and retrieval systems; recording meeting discussions; maintaining transcripts; documenting and maintaining evidence.
• Accountable for negotiating contracts and fees, finding and booking events and venues that match the artiste’s career strategy, advising on career decisions, publicity and promotion, helping them on career decisions such as which record producer to work with, or which songs to perform, and managing media relations on their behalf
• Accountable for building a strong reputation for good client services, and attracting more top performers onto their books.
• Represents a roster of artistes, and cultivate relationships with music industry decision makers on their behalf. They will negotiate deals, and support and guide their clients’ careers.
• Keeps up to date with what’s happening in the industry, and spend a lot of time establishing and maintaining relationships, using contacts to source work for her clients.
• Promotes clients’ work, and will often be involved in liaison during the music recording process. May also organize and negotiate contracts for release and publishing, and communicate with the press.
• Handles any other responsibility as assigned by the Chief Executive Officer
• In charge of handle any sound related job for the company; helps achieve certain specific sounds or feelings that match with the lyrics.
• Responsible for mixing and producing beats and sounds for our clients; mix the songs into the final version for the music album.
• Part of the team responsible for selecting the songs that will be promoted and the songs that will be sold as singles.
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Defined job positions for recruitment and managing interviewing process
• Carrirs out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Designs job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Facilitates and coordinate strategic sessions
• Works directly with clients in a non-advising capacity, such as answering questions, scheduling appointments and making sure all training concerns are properly taken care off
• Oversees the smooth running of the daily office activities
• Once the album is ready, then the marketing team will go out to market and promote the album
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies business opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of music projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients and music artistes
• Develops, executes and evaluates new plans for expanding sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Accountable for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Client Service Executive

• Ensures that all contacts with clients (e-mail, walk-In centre, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

6. SWOT Analysis

Halley Bent® Artiste Management Company engaged the services of a core professional in the area of consulting and business structuring to assist the organization in building a standard artiste management company that can favorably compete with other leading music production companies in the United States of America.

Part of what the business consultant did was to work with the management of the company in conducting a SWOT analysis for Halley Bent® Artiste Management Company. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Halley Bent® Artiste Management Company;

Our core strength lies in the power of our team and the location of our business. We have a team that can go all the way to give our clients value for their money; a team that can effectively manage artistes to become celebrities. We are well positioned and we know we will attract loads of clients from the first day we open our company for business.

As a new artiste management company, it might take some time for our organization to break into the market and attract some well – established music artistes to sign under our label; that is perhaps our major weakness. Another weakness is that we may not have the required cash to promote our business the way we would want to.

• Opportunities:

The opportunities in the artiste industry are massive and we are ready to take advantage of any opportunity that comes our way.

Technology and the internet which of course is a major tool for the advancement and gains achieved in the music group and artiste industry can also pose a threat to the industry. The truth is that with the advancement of technology, it is now easier for artistes to promote their works especially via social media platforms.

So also, just like any other business, one of the major threats that we are likely going to face is economic downturn. Another threat that may likely confront us is the arrival of a new music production company in same location where our target market exists and who may want to adopt same Business model like us.

7. MARKET ANALYSIS

• Market Trends

Entrepreneurs that are venturing into the artiste management industry are coming in with creativity and good business skills. The fact that revenue is nose – diving in the industry does not in a way stop some artiste management companies from declaring profits year in year out.

The trend in the industry is that most music production companies are trying as much as possible to recreate themselves on a regular basis and also to be on top of their game.

8. Our Target Market

When it comes to artiste management business, there are no exemptions to who you can market your services to. There are loads of people (music artiste and other performing artiste) out there who are interested in working under a well – structured artiste management company.

Over and above, our target market as an artiste management company cuts across music artistes and other performing artistes of different class and from all walks of life.

In view of that, we have created strategies that will enable us reach out to various clients within our target market. We have conducted our market research and survey and we will ensure that our artiste management company is well accepted in the marketplace.

Our Competitive Advantage

We are mindful of the fact that there are stiffer competitions in the industry in the United States of America, hence we have been able to hire some of the best business developers to handle our sales and marketing.

Halley Bent® Artiste Management Company is launching a standard artiste management company that will indeed become the preferred choice for music artistes and other performing artistes in and around Pasadena – California and other cities all across the world.

Another competitive advantage for Halley Bent® Artiste Management Company is the quality and robust wealth of experience of its management team. The management team comprises of professionals who have worked with some of the leading international brand in the music groups and artiste management industry.

Our unique style of attracting gifted artistes also counts towards our advantage especially when it comes to competing with other artiste management companies within the same category that we operate.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Halley Bent® Artiste Management Company is established with the aim of maximizing profits in the music groups and artiste industry and we are going to go all the way to ensure that we do all it takes to attract music artistes and other performing artiste that will sign under our brand.

Halley Bent® Artiste Management Company will generate income by offering the following services;

• Choirs recording or performing

10. Sales Forecast

One thing is certain when it comes to music; music never dies and the demand for good music will continue to grow. This goes to show that any artiste management company that is known to always produce good music will continue to attract talented music artistes and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six months of operation and grow the business and our clientele base beyond Pasadena – California to other cities in the U.S. and even the global market.

We have been able to critically examine the artiste management market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Pasadena – California.

• First Year: $120,000
• Second Year: $350,000
• Third Year: $750,000

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Artiste management business is not a business that you have to retail products which is why we must do all we can to maximize any opportunity that comes our way.

Our sales and marketing team will be recruited base on their vast experience in the music industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent artiste and management style speaks for us in the market place; we want to build a standard artiste management company that will leverage on word of mouth advertisement from satisfied clients/artistes.

Our business goal is to grow our artiste management company to become one of the top 10 artiste management companies in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in the U.S but in the world stage as well.

Halley Bent® Artiste Management Company is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our business by sending introductory letters alongside our brochure to music artistes, performing artistes and key stake holders in the music industry in Pasadena -California and other parts of the U.S.
• Advertise our business in relevant entertainment magazines, newspapers, TV and radio stations.
• List our business on yellow pages ads (local directories)
• Attend relevant international and local talent hunts, music expos, seminars, and concerts et al
• Leverage on the internet to promote our business
• Engage in direct marketing approach
• Encourage word of mouth marketing from our loyal and satisfied clients

11. Publicity and Advertising Strategy

We have been able to work with a brand and publicity specialist to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the music groups and artiste management industry by storm which is why we have made provisions for effective publicity and advertisement of our artiste management company.

Below are the platforms we intend to leverage on to promote and advertise our artiste management company;

• Place adverts on both print and electronic media platforms
• Sponsor relevant TV shows and radio programs
• Maximize our official website to promote our business
• Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, 4Share, Google+ and other platforms (music online forums) to promote our business.
• Offer Pro Bono services as part of our community social responsibility
• Ensure that our we position our banners and billboards in strategic positions all around Pasadena – CA
• Brand all our official cars / buses and ensure that our trademark label is boldly printed in all our music album covers and CDs et al.

12. Our Pricing Strategy

When it comes to the artiste management line of business, you may not automatically start making money, as a matter of fact, you will be expected to invest your money on an artiste, you are expected to groom the artiste until he or she becomes popular and well – sought out for. After that, you will be able to agree on percentage of the fee paid to the artiste to perform.

At Halley Bent® Artiste Management Company we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to upcoming artistes who engage our services.

• Payment Options

The payment policy adopted by Halley Bent® Artiste Management Company is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Halley Bent® Artiste Management Company will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards/Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our clients make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to pay for our services.

13. Startup Expenditure (Budget)

From our market survey and feasibility studies, we have been able to come up with a detailed budget for achieving our aim of establishing a standard and world class company. Essentially, these are the areas we are looking towards spending our startup capital on;

• The total fee for registering the business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Halley Bent® Artiste Management Company in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580 .
• The total cost for hiring business consultant – $2,500.
• The total cost for the purchase of insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for payment of lease for a small but standard office facility for 24 months – $150,000
• Cost for remodeling the office – $20,000
• The amount required for the purchase of musical related equipment- $40,000
• Other start-up expenses including stationery ( $500 ) and phone and utility deposits ( $2,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $250,000
• The cost for start-up inventory – $10,000
• The cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The cost of purchase and installation of CCTVs – $5,000
• The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
• The cost of launching a website – $600
• The cost of our opening party – $5,000
• Miscellaneous – $5,000

We would need an estimate of $300,000 to successfully set up our artiste management company in Pasadena – California.

Generating Startup Capital for Halley Bent® Artiste Management Company

Halley Bent® Artiste Management Company is a family business that is solely owned and financed by Halley Bent and his immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

These are the areas we intend generating our startup capital;

• Generate part of the startup capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from the Bank

N.B: We have been able to generate about $100,000 (Personal savings $60,000 and soft loan from family members $40,000 ) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is easier for businesses to survive when they have steady flow of business deals/customers patronizing their products and services. We are aware of this which is why we have decided to offer a wide range of artiste management services and other related services and also to work with both music artistes, and other performing artistes.

We know that if we continue to manage artiste who are great performers or who are known to release hit songs back to back, then there will be steady flow of income for the organization.

Our key sustainability and expansion strategy is to ensure that we only hire competent employees, create a conducive working environment and employee benefits for our staff members. We know that if we implement our business strategies, we will grow our artiste management business beyond Pasadena – California to other states in the United States of America in record time.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Incorporation: Completed
• Renting of Office Facility: Completed
• Building of Music Studio: In Progress
• Intellectual Property Protection and Trademark: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the Needed studio / musical gadgets, furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress

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Mechanics • 10 min read

The Mechanics of Artist Management: The What, Why, and How of Music Talent Managers

By Dmitry Pastukhov

Published January 1, 2024

What does an artist manager do?

1. gatekeeper and a spokesperson, 2. team architect, 3. artistic direction, 4. administration and small things, 3 main steps to building an artist team, 1. choosing a recording deal, 2. choosing a publishing deal, 3. choosing agents & promoters, how the artist/manager relationships are structured, contracts and splits, what is the average commission for talent management, how the split change in the course of the artist’s career, how long is a normal artist manager contract, what is the sunset clause.

Coordinating the artist's team, overseeing complicated legal structures and keeping track of all the numbers, from social media and radio spins to cash-flows and revenue splits, is the routine that comes with running any successful music project. However, while taking care of the day-to-day, managers must aim for the stars: building relationships, anticipating problems and developing long-term strategies.  Working closely with all sides of the industry, they must be "fluent" in the music business – more so than any of their associates. Managing an artist means juggling dozens of hats at a time, and that is what makes it both fascinating and complex. That's why we've decided to dedicate this article in our series on how the music industry works to the fine art of artist management.

The diverse roles of the Manager can be broken down into the following categories:

• Gatekeeper and spokesman
• Team Architect
• Artistic director
• Administrator

The manager plays a unique role in the life of an artist. All other partners profit from the isolated components of the artist's cash-flow: the agent won't make money on streaming , nor will the publisher benefit from ticket sales. Managers, on the other hand, earn a flat percentage on all artists' revenues. The contracts are structured in that way for a reason — the influence that managers have over artists' careers is enormous, and that requires a complete alignment of interests.

First of all, the manager is the public representatives of an artist. Managers reach out to partners and filter incoming offers on the artist's behalf. This part of the job involves taking a lot of small decisions, and most of the time the artists are not aware of them. Artists have to rely on the manager's judgment, so the relationships between them must be built on trust. A strong team mindset is the basis of any successful management deal, and that is why the manager is often the closest person an artist has aside from family and friends.

The Beatles with their manager Brian Epstein, 1963. Photo by Paul Popper

The second responsibility of the manager is to build and coordinate the artist's team, made up of separate partners working on different sides of the industry. Each time the artists progress to the next step in their music career, management has to consider several key partnerships. Those partnerships are necessary to unlock new revenue streams. However, the range of possible offers and deals can be almost indefinite – so the choices have to be made.  

Such decisions have a huge, lasting effect on the artist career. Most partnership deals are long-term and can have consequences years down the road — a standard recording deal, for example, is a 6 to 9 years commitment. It's the role of management companies to evaluate partnerships. However, the manager never has complete information, and the number of factors to consider can be overwhelming — so building an artist’s team is perhaps the most challenging part of music management.

Even when the artist has an A&R with their label or publisher, it is the manager who defines and coordinates music and video releases, tour strategy and live performance production. The manager is the last advisor to the artist when it comes to dealing with the A&R, and his role is to mediate the influence of all other partners.

The labels and publishers will often try to push the artist on the beaten path. Pressure from the A&R departments to "play it safe" can sometimes make it extremely hard to ignore the fear of failure and pursue the creative goals. However, maintaining one's vision and taking chances is an integral part of any art, so the managers often find themselves stuck in a risk vs. safety dilemma.

The nature of the management is to keep things flowing. Managers take care of most of the daily administrative tasks, connected to running an artist's career. They do most of the cyclical accounting, handle monthly cash-flows and run the artist's micro-company. On top of that, managers always tend to fill the gaps. When the artist's career is still young, they program releases with distributors and pack up the gear on stage after the shows. Later on, they run the merch booth and organize video shoots. It all depends on the size of the team, which scales with the artist's career.

Here is where the labels, publishers and promoters come in. Traditionally, their role is to scale the team in anticipation of an artist’s success, and not as a consequence of it. The early stages of the artist career involves more costs than earnings, and funding in anticipation is key to building most careers. However, even if the team grows and managers take a more ‘managerial' approach as opposed to DIY one, the list of ‘small things' never dies ;)

The core of the artist’s team consists of publishers, record labels, concert promoters and booking agents. The Artist Managers are the grand overseer of that whole team,  and they are the ones getting that band together in the first place. Artist development and assembling the artist's team requires strong negotiation skills, strategic mindset and in-depth knowledge of the music industry, and, as we’ve mentioned before, it is probably the most important and risky part of the manager’s job.

To give you some perspective on how those “staff decisions” are reached, in the next section we will go through the key partnerships from the artist/manager standpoint.

Traditionally, the label has been the team that finances most of the release cycle and helps on creative and promotional sides. Nowadays, however, labels are acting more and more as the talent hunters rather than the record makers. The recording industry is trying to bet on safe investments, signing the artist after a couple of songs were already released independently.  At the same time, the costs of making a record went down a lot, and the labels don't have to provide the infrastructure as they did a decade ago. This "low touch" approach has brought new types of recording contracts, reflecting the role of the label as primarily a marketing team.

In 2019, the assortment of recording partners and deals available to the artists are more diverse than ever before — and singling out a record deal is a business decision as much as it is a philosophical one. For the deeper view of the record business and label deals, check out our article on the Mechanics of The Recording Industry .

When it comes to the publishing contract , there are two main factors to be considered: the publishing advance and the publisher's A&R. Publisher's advance traditionally allows artists to make money before royalties are collected, which can take up to 2 years. The advance can be a substantial revenue boost for developing artists. Hoping that musician will become a prominent recording artist or write music for others, publishers will often sign an artist at an early stage of their career.  

The publisher's A&R, on the other hand, is essential for artists who need to collaborate: rappers, beat-makers, producers and so on. The publisher's A&R helps find and negotiate collaborations with other performers, and that resource can sometimes propel the artist into the next league.

Besides choosing a publisher, artist and managers have to also decide on the type of publishing deal. The music industry offers full publishing, co-publishing or administration deals, depending on the artist's needs and his/her legal status. Check out our Mechanics of Publishing to find out everything you need to know about how the publishing industry works.

Managers work very closely with their agents and promoters, so finding the right people for the job is very important. The agent contracts are almost identical across the industry, as, most of the time, the actual deal remains mostly informal. Agents send artists flying across the world to festivals and venues in major cities like New York and Boston, with no guarantees except for their own word, so the managers always look for someone they can really trust in the booking agent.

The relationships with promoters are built on a more contractual basis. Promoters take care of the rent, logistics and marketing. Essentially, they "own" the tour, collecting and distributing the revenues to all other sides. So when it comes to promotion deals, the interests of all parties have to be protected – and put to paper.

The live business is a network-based, decentralized and fragmented system, and the touring landscape is way too complicated to lay it down as a part of this article. We’ve explored the respective jobs of booking agents and promoters, including splits and deal outlines, in our Mechanics of Touring — check it out to find out how the live concert industry works.

So, artist manager liaison and coordinate the artist’s team across the industry, making sure that the contracts and splits are fair and balanced. However, how are the contracts structured when it comes to relationships between artists and managers themselves? What are the common terms of the management deal?

The management deals are mostly informal, as the legal status of the manager remains very vague: in France, for example, up until recently, managers had to be officially acknowledged as agents. There are many ways in which artists and managers deal with the paperwork. However, one thing remains constant – managers earnings are a percentage of the total artist's revenue.

The common average rate we’ve observed is around 15%, but it can differ depending on the scope and specific needs of an artist. The scale of some careers, for example, requires a business manager and a "normal" manager to collaborate, separating the business side from the career strategy. In that case, each of the managers gets a 10% rate, bumping overall management costs to 20%. Besides that, the contract can include an additional 5% rate to cover the manager’s expenses on travel, business dinners and so on.

As the artist's revenue grows, the artist/manager splits tend to become more and more favorable for the artist. This is justified by the gross gain – generally speaking, it's better to make 10% on $1 million, than 20% on $100k. However, as artists evolve into large international acts, it also becomes much harder to manage them.

The standard length of the management contract is three years but it can vary from 2 to 5 years on a case by case basis. Most contracts also include a "Sunset" clause.

The "Sunset" clause allows the music manager to get a share of the artist's revenue after the management contract expires (for 18 to 24 months on average). The “sunset” clause is instituted so that the manager can benefit from their initial investment of time and resources in an artist — before they fully peak. In a way, “sunset” clause is the management equivalent of the "duration of rights" in the recording deals – the fixed period when the recording company owns and exploits the recording to make up for initial investments

Likewise, most managerial work is done pre-release rather than post-, while the cash-flows are generated at the end of the cycle. For example, artists usually tour for 12 months after the album has been released and the promotion strategy has been implementation.

Here are some examples of how the “Sunset” clause can be structured:

• Six months with standard rate, followed by six months with a 50% reduction, followed by six months with a 75% reduction.
• Twelve months with 100% of the manager's initial rate, followed by twelve months with a 50% reduction.

As they are the ones coordinating between all sides of the artist career to steer it in the right direction, nothing is more valuable to artist managers than artists data: it provides selling points, insights, and guidance on how to develop the artists. With data platform like Soundcharts , artist managers can get the 360° view of their clients performance and identify novel opportunities for growth. 

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Dmitry Pastukhov

Content creator for Soundcharts. Deciphering the music business so you don't have to.

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How to Sell Art Online | Online Marketing for Artists

Helping artists sell their art online since 2009. Blog, guides, courses, and coaching for artists.

Business Plans for Artists: Here, I Did It for You!

Also, check out Jennifer’s book!

You’ll want to see her Right Brain Business Plan home study course .*

Not Ready for A Full Right Brain Business Plan?

Here’s a simple 4 page example plan that will help you get started.

Example Business Plan for Artists (pdf)

Example Business Plan for Artists (Word doc)

The first thing I ask every artist when we start working together is if they have a business plan. Most of the time the answer is no. Why do you need a business plan, you ask? Great question.

You will become focused. As you start planning, that shotgun approach to marketing that most artists take will start to thin itself out and you will learn how to put a system in place. Also, establishing your unique selling proposition is really important. Sure, you’re a painter, but what makes you stand out from all of those other painters out there? There’s a lot more to being an independent artist than just creating your art.

You’ll know where you stand. Your strengths and weaknesses will become apparent to you as you start to create a business plan. What aspects of your art do you excel at? What do you tend to put off because you don’t know how to finish ? Once you know where you stand, you’ll know what your weaknesses are, and this is really important. Most artists have no idea that they’re not good at accounting, or they don’t want to admit it so they run around in circles. A business plan will help you eliminate this.

You’ll know how to get where you want to be. Once you write down a business plan, it’s easy to refer back to it often to get re-focused on your goals. Carefully analyzing what you really want out of your art business is a good way to stop doing what is getting in your way.

You’ll know what other artists are doing. Do you want a competitive advantage? Are you afraid of really pushing your business because you don’t know what will make you different and make people want to purchase your art?

Does 4 pages feel like too much?

Get started with our beginner’s one-page business plan and work your way up.

This post has been updated since its 2009 original publish date.

*affiliate link

November 20, 2009 at 11:46 AM

This is fantastic! Many thanks!

November 21, 2009 at 9:45 AM

You’re welcome!

November 22, 2009 at 5:32 AM

This is a really great resource that I’ll have to share with my readers. It’s always wonderful to find other people putting in the hard work and dedication that goes into doing what you do. .-= Damien Franco´s last blog ..Photographer’s Intro to Twitter =-.

May 19, 2010 at 3:26 PM

This is great. Thank you for doing this. It’s really something I’ve always known I needed to do. I will definitely do it now.

April 27, 2011 at 8:21 AM

Do you have a business plan for dummies and beginners? This is kind of advanced. I have nothing but 5 good paintings right now.

This is my first time coming to this website. I was very confused by the business plan. Who is “I”? As in, “I help artists dispel the starving artist myth”? It took me 15 mins to finally understand who “I” is, and who Cory and John Smith is.

January 7, 2016 at 12:24 PM

I agree, this business plan is completely confusing and way too advanced and overwhelming. I really want to like it, but after reading it a few times, I’m still lost.

October 27, 2011 at 11:10 PM

Creating a business plan was one of the smartest things I ever did. I wrote down all the ideas that had been spinning around in my head but had never been inserted into my business as a whole. Just the process of writing everything down becomes a way to clear your head and see the way forward. It’s great to see an honest, physical example of a business plan – thanks Cory!

March 11, 2012 at 4:25 PM

Wow!  I’m so glad I stumbled onto this!  Just what I needed!

June 4, 2012 at 6:16 AM

Thanks for posting the examples.  I didn’t realize that I already had lists covering most of the sections.  This really helped me put everything together in one place.  Now as I get new ideas, I have one document that I can go to.  I can quickly jot it down and properly categorize the idea right away knowing that I will have it on hand for when I have time to review the bigger picture over time.  Thanks again!

June 4, 2012 at 8:01 AM

 @figmentations Glad it helped!

January 13, 2013 at 2:57 PM

Thanks Cory. A Breath of Fresh Air!!! For the first time at last…with drudgery behind me, I can now pursue my business plan in JOY!!! In full celebration of all right brainers…here’s to your unlimited success:-)

February 23, 2013 at 11:43 AM

Hi Cory & Jennifer, I totally agree with having a business plan, writing down all the ideas & growth you have in mind for your business.

July 1, 2013 at 5:20 AM

thanks for everything. i like this site so much…

August 19, 2013 at 7:55 AM

Thank you this was very helpful 🙂

December 17, 2013 at 8:32 PM

Thank you for sharing this information, it can be difficult finding business resources for the artist/entrepreneur.

December 20, 2013 at 12:43 PM

Just need help starting a creative business. CB

September 25, 2015 at 3:07 PM

hello jennifar, i a cross this because am a starting artist. gama arts in Rwanda but i realy want a bussiness plan because i know success business needs a plan. thank you.

February 26, 2016 at 4:12 PM

I’m looking forward to doing the seminar on how to sell your artwork online. I am not computer literate, so this is going to require some intensive learning on my part. I am retired and can finally dedicate my time to doing the thing that I love the most, painting watercolor illustrations. I know nothing about blogging, or setting up my own web site. I hope this is the kind of information I can access from your seminar.

Thank you for showing me my first step toward creating a business out of my artwork…

May 16, 2016 at 4:35 PM

Thanks Cory and Jennifer, for sharing this information, it’s always good to know more about how I can do more on my art business.

November 25, 2017 at 3:06 PM

It helps me a lot to have specific, measurable goals. I’m just starting to turn art into a business for myself, so I’m trying out a few different things to see what works for me, but concrete numbers and plans and dates really help.

I’ve put together a list of business books for artists: http://jacquelineboss.com/2017/11/25/10-art-business-books-learn-how-to-sell-your-art/

January 22, 2018 at 12:01 PM

I had no idea how to get this started. This is super super helpful! Thank you!

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How Toward Start An Artist Management Company

Are Yours Sure You Want To Start With Female Corporate Company?

Being an artist manager are arguably one of the most exciting careers someone can possess. Every day be different, it’s demanding, it’s rewarding, you get to witness the creative process, you get to aid make someone’s dreams come true (or die trying), you get to travel a lot, you gets to spend your time in recording studios, performance locations, escort festivals, and heck yours get to get on and job. PlanBuildr's Jam business plan template will help you to quickly and easily complete your Music business plan.

But, it’s not all mashed potatoes and gravy all the time so before we get into HOW to start an artist management company, I’m here to give you a tiny more insight on some challenges to overcome BEFORE starting an artist management firm as fountain.

Warning, reality check ahead.

4 things to come to terms with before starting an artist management company

1. you take to be patient.

Every person I know with a successful company didn’t simple start it up with loads of clients making money right off of hop. Unlike other branches or sort of businesses, with artist management you can’t just register one business name, get a website, and start advertising your our. You don’t have an painter management society without artists. Benefit, it takes ampere LONG … time … to build. ADENINE step-by-step guide to developing an song business plot

Most artist officers keep their full or part-time jobs for a longitudinal time until her artist staffing is making enough money that they can quits. Depending on my artists success, this could happen quickly, oder it might none happen. It all depends on what’s going on at your artist and provided they’re making enough money. As their general this lies heavily on you. If you having or search the right connections, and if your artist is able enough (along for many another factors), you was be a full time our manager before you known it. Using this musical employment plan template the quickly & light create ampere great enterprise plan to start, grow oder raise funding for your business.

I know an guy who quit his full-time salaried daytime job to go an artist management company use adenine couple in indie bands. A year later, he made totally no funds, the get 50% of your artist roster. Another year for ensure, he lost 100% of his employment the left the industry. Which brings von to me next point….

2. Have an back-up basket and carton of eggs

Certain, put all thy eggs in one wire. But what for the basket breaks? You best be makin’ sure you’ve received another basket to testicle waiting for you. Relationships break. Artist managers loose artists regularly. Managers quit. Artists fire their managers. If you’re only administered one artist, make secure you have another sources of income coming in. With make sure you have an solid license in place that becomes ensure you still get remunerated even if the ratio breaks. If you’re quitting your day-job to manage 3 acts them just signed at once, make sure you know exactly instructions much cash they make, how much money you’ll build, real exactly when they’re going for remain paying you. Conversely, have a vast reserve of monies waiting with case they don’t.

Elsewhere, you ain’t eatin’ no eggs.

3. Finding clients (artists) is like finding a married

Being can artist manager is like being in a marriage. It’s single in that closest relationships you’ll have next to your family members, also because regarding that, such relationships also take a long moment to build. Definite are were some cases where a artist characteristics with a manager when they barely know each other (I’ve done it!). And sure there are some cases what people get married after 3 months of know-how each additional. The reality is, though, that it’s ampere relationship building go mutual understanding, trust and loyalty, plus generally that takes multiple time to build. So be patient in this arena too. As a music company major, you'll learn the fundamentals of business within the music industry from a musician's perspective.

4. A corporation runs on money

We work in an our which vainglories itself on what for who love are it, and not available money; especially artists. Although the truth is you don’t have a BUSINESS without money. This the business. Which artist is a business. If you’re looking to startup your own general, it’s always recommended that they draft einer artist steuerung company business plan (which we give them for free when you subscribe to our newsletter ). Is you’re not such well versed in the industry, it’s ampere goal idea go at fewest TRY to function throughout a business plan so that you getting a better conceive from where your money lives walked to be coming from.

Starting Own Our Male Management Company on. Erholen ONE Occupation Among An Artist Management Company

When thou initiate your own artist bewirtschaftung company, your can choose whichever artists you work with (if they’re willing to worked with you in the early place), furthermore keep the full management commission. When you work under someone else’s management corporation, there are a few path to go about it.

• You could be staffed at as an associate acting (or day-to-day manager) till an existing corporate roster on a salary (or a commission if you’re lucky)
• Or, you could be questioned to join the management team and bring on your my roster

In these two cases, your fee rate would be less than if you have who sole manager of an artist. However, if you’re working for a company, they probable once had ampere good track record and therefore the provision revenue could be higher. In all cases, it really depends on what works for you the what company come to your door (or what you smack down doors for).

Questions to query yourself:

• Would i very have support from an existing company?
• Would you rather raid your butt starting from scratch?
• Be you rather be an entrepreneur?
• Do you have the business acumen and work ethic to be an entrepreneur?
• Would you rather choose that artists you work with?
• Do you have the credibility or ability in sign einer artist yourself?
• Would you rather shall in controlling?
• Would you rather shared responsibilities because a become?
• Should they try to my for more company to procure experience first?

Now that we’ve got that out of the way, still want to get how up begin an artist management company?

Key Ingredients for Success in Launch You Own Artist Management Company

1. people skills.

The music business is a relationship businesses. You have to have your header on your shoulders plus be able to network, make friends, and business colleagues; it is absolutely essential to success. Furthermore, it is an maintaining of these relationships that counts. The music business is a very small global, real you don’t want to go around burning bridges. It WILL come back to bite you. All goes for artists the insert business-minded population. It’s obligatory toward be certain honest (sometimes brutally honest), yet trusted person. Understanding people (especially your artist!!) the absolutely key.

Susan de Cartier of Starfish Entertainment (Blue Rodeo) says,

This is a relationship business and networking, negotiating, etc. are critical to success.  Plus, it’s not just creating relationships, it is maintaining theirs.

2. Business real financial management skills

Running a verwalten company is running an business, and an visual manager should understand that you need at have the same unternehmensleitung skills that any other business owner has, this is heavier dependant on financial and operational know-how. ADENINE business isn’t a trade without revenue, so as a manager it’s your job to get out there and bring in revenue since your artists, or in turn, yourself. Make assured they’re implementing live, touring, selling records, try on get yours radio airplay if their songs perfect, try to receive a publishing deal (for the songwriters), get their singing in TV and motion, set move YouTube for ads, and do more research on misc revenue streams. Our Artist Management Toolkit has human on revenue running.

With all that being saying, I’m a genuine adherent that most things in life could exist learner . So if you’re feeling weak in which area of business and financial skills, get-to-learnin’!

3. Work ethic and drive

You must have an very powerfully your morals and a higher level of responsibility. You’re manages someone else’s entire career (your artists) real must record that duty seriously. This is a fun business but it is a trade, hence you need to have the outer work ethic furthermore drive to keep on go when times get tough.   

4. Dedication to your artists

Managers dedicate their lives to their artists. Yes, nope just their careers, their lives. Your main reason for worked with artists in the first square must be for the love regarding the artist and their art. You possess to put your artists ahead of yourself. You have to put their needs going of yours needs. Your must understandable that you are dealing with other people’s lived and other people’s money. Music Business Plan Templates & Guide [Updated 2024]

5. Creative problem solving and fast decision makin g

A manager should be able to calmly skip throug hoops on a daily basis. There are walk to be problems that arise every day. They could be good problems oder bad symptoms, but you’re going to need to figure out methods to solve your fast, without residence. The manager is the heart of the wheel, whenever you’re does solving problems fast, the wheel won’t roll ahead. Creative a Successful Trade Plan (for the Artist)

6. Forbearance

I talk nearly being patient quite a bit up this blog, and I’ll state it over and over again. Be. Plant.

It takes aged for artists to perfect hers craft. And it’ll use years for they to perfect your business. Him could remain coming into owner artist’s life at a time when their craft isn’t quite ready into wird a business nevertheless, or they may becoming in between album cycles and are creating right now. So you have to asked them if you’re final in join them in who developing phase, or creation phase of their dash. In both of these phases, you’ll be on the randoms wait with not income soon stylish save they are permanent showing live. Or, let’s say you start managing them at a time where the artist is ready to approval an album and you’re safer it’s a hit song or a few hit songs on it and that there’s nay creative development required. Even if that album or one of the singles does become a hit, you still won’t see any sales by at least 10-12 months later because fees take arbeitszeit to come in. If you don’t have a hit you might not see much revenue the all (from recording sales). Again, such is ampere long-term business. Don’t expect at pop up overnight (both virally and financially). Bachelor in Music for Music Business/Management

It doesn’t have to be knowledge you’ve acquired coming formal academic such as college or university, but you need to educate yourself. This can be done throug experienced, from reading this website driven and through, from attending conferences, upon a mentor, from reading our, additionally many other ways. Artist Managers oversee all areas of the business so the sooner you get knowledgeable in those divider the sooner you can succeed. An Music Business For Artisan General and Self-Managed Artists: All You Need To Know To Get Started, Getting Detected, and Get Signe d explains all the main species of our you’ll must working with as a manager, what they accomplish, select in wear their hats until they are ready up work with you and your artist, how to contact them, how to get noticed by yours, and how to get ‘signed’ by them.

“They” include over 30 music sector experts in the areas of:

• Travel Leadership
• Abilities Buyers
• Write Label A&R
• Radio Promoters
• Radio Station Programmers
• Music Supervisors

Steps To Starting An Artist Management Company

1. build your artist roster.

According at where you’re at in your journey to launch your own artist management company, you may or may not have an artist duty (clients) yet. Just like anyone company, you don’t have with artist general company without any clients so if you don’t manage any artists not get out there and start look since items could take a while. You could check 100 bands and only fall in love the the of them, or you would go see a band tomorrow and slump by love with them. The important piece to note here is that you need to ‘love’ i, and person need to love and trust your until do business on they behalf. Since mentioned above, you dedicate yours life go here person/these people (aside from will family), and the best motivative factors for dedicated is love. It need to love their musical, their songs, yours vibrational, the them as individuals. Belmont's Bachelor of Business Administration inbound music economy prepares leaders in each genre of a thriving global pleasure industry.

The ok news is, there are PLENTY of ways to find talent to manage. Of severe part is finding one sole , or the next one . Read  12 Ways To Discover And Sign Artists To Management (True Stories)  to find out how some tops managers discovered their artists. Some to which have been managing for 15-25 years.

2. Sign A Contract

Absolutely, a lot of business in the music industry the done over a handshake, but it’s just better to title your by signing an agreement. You can doing the agreement as simple and as basic for you’d like. Equals get object, some, in writing, that you’re earning a certain earn as so-and-so’s sole worldwide manager, and save it in a safe city. Here is an blog explaining all the different line items that be included in a std long-form artist management agreement .

3. Don’t Quit Your Day Job Just Yet

DO NOT quit your day job to be an independent manager…. yet. Are you’re lektor this article I’m assuming it’s because you’re independent. Keep your day-job, conversely treaties, or part-time job, or whatever else you’re doing on earn a living, until will artists were making enough dough to replaces it. Is your current scheduling, other prospective roster build any monies yet?

Before you start managing someone you need to find out how much money they are production, so that you canister decide if your 15-20% cut of that is worth it for you. If they aren’t earning enough money yet, then you need till be willing to dedicate zeite additionally energy as a longer term investment stylish order to gain profit later. Find ways to gewinnen money for your artist, which will on turn earn funds for you. The average per makes, what, $40,000 per year? If you do to quit your day order and earn that same lot, and you’re on a 20% commission rate, respective artist your on be making over $200,000 per year. With, you manage 2 masters manufacture $100,000 respectively, and so on. Still, let’s say you’re managing one artist, she make $400,000 include individual year, and then handful decide on go off an sonar and not perform or discharge anything for another 2 aged or more. This is where you need to have other sources of income. If it’s not a job, than it’s multiple artists this are earning well.

4. Draft one Artist Management Company Corporate Plan

5. produce an name for yourself.

Literally also figuratively. Now that you have a roster and a plant, come up with can artist management company name and register it with the government. That should also allow you to open a bank account available your business name. It is important to keep business and personal separate. Different managers have distinctive artist management methods. Think about what you stand for for a corporate. Don’t be afraid to be yourself, while you allow also want to think the ways to make yourself to stand out. If artists do it, why can’t you? Geting business cards, a internet, a new email, adenine Share page, Instagram account, Peep account, and all other means to promote yourself as a professional manager, which is also next by to fund your artists. And, GRID. Acquire our there and meet folks how much as you perhaps can. Find out what your do and show an occupy.

6. Get Organized

You have to be the one that’s the maximum structured since you’re the one “organizing” the fine career. Have show the proper document and maintain track are all your business functions appropriately.If you’re doesn the most organized person yourself, then hire an interns or one paid human person who is strong on the organizational side as soon as possible. This guide on developing ampere dance business plan will help you launch your business on the right mention also placing a solid funding for the future.

Ours siehe at SBM we put together over 100 of the bulk crucial systems, drawings, templates and guides you need to run the day-to-day operations of your management business .

7. Work At an Entertainment Accountant

Now such you have all aforementioned documents her need to be organized, you’ll want go discuss accounting procedures with to auditor so that them can organize your financial support effectively. I also recommend finding an accountant that works specially in the entertainment business, in there is a whole different set starting tax write-offs available to you (depending on what country you’re in).

8. Hire an Entertainment Lawyers

You’ll want to found and charter an entertainment attorney to aid she with all contracts it will have for deal with when doing business for profit of your artist, with record labels, booking agencies, publishers, etc. Entertainment law is extremely specialized, then be absolutely sure to hire an entertainment lawyer, none a lawyer from any other specialization.

Up summarize, if you’re considering starting an artist management company, you’ll want at receive the following items inbound place: artists to managing, a lawyer, an accountant, internal organisation accessories, a business plan, management contracts; while moreover ensuring this you’re case, engaged, brand yourself and must yourself, constantly develop your knowledge (business and music business) and network all the start although developing your people skills.

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Kindly sendung me your Female Management business plot template.

Thank yourself plus Merry Christmas

Hi Lincoln! Did you not receive thereto when you subscribed? Let me know if it still has notwithstanding toward arrive in your inbox and I will email it on you. Jamie

Hello, i haven’t standard my guide either

I am a student moving in college for Music Management.. The firm I want to Intern with or conceivably shall hired into asked mei level out. “What able you do for the company, and our clients.” And ever sensory than I’ve been walking around lost in thought. What can I, on 18 year old music enthusiast, perform for such one company? They plus mentioned this certification to diehards was nothing.. Person want skill. how does I answer such question. I’m stumped. I can planning things down toward the tiniest detail but that’s about it. I’m just an talentless individual I love with the industry..

Preparation things down to the low show, life in my with the industry, and being a musics enthusiast is exactly get you can do for anything company or any artist. Passion and watch to detail can HUGE assets to anyone. You canned tell their view potential employer that you have the same vision/mission/passions because i and will organize anything they need structured without mistakes. All the best. Save. Don’t ever call yourself ‘talentless’ again! Everyone belongs talented in some way. xo.

Wow! I love your charm and your graciousness int this response! Everything about this locate must been A1 so far! Fantastic content from one seemingly amazing person! Get Growthink's music business plan template and step-by-step instructions to quickly and easily create your tune general plan today.

I present model plus work an 8-5 working, but I’m starting to manage get brother’s musical career! Anyone counselling on administrators family members/ maintaining both adenine business and personal relations when the dance industry could potentially strain our siblingship? Thank you!! Music Business Design Document (2024) - PlanBuildr

Bless you kindly Tayo! EGO would say the same something for managing a brother as IODIN wish for managing anyone – it’s total about communication. Be very, VERY, candid press honest although respecting aforementioned other person dreams/wishes/feelings. If there’s an matter, don’t let it beer. Gets it out on the size as quickly as possible and talk about it calmly. Always seek the verstehen the other person before leap to endings. Including, there will likely be nope separating the personal and business relationship more. Firstly, as management is a 24/7 job the it’s difficuly up separate business/personal in this kind of relatives, and second, because he’s thy our. So you’ll need to get comfortable talking about business and sounds or plans 24/7! Hope this helps. I’d love to hear how you’re doing in a year from today! Cheers. Jamie

@Audrey for certification doesn’t mean anything to diehards then you need up pick a different firm it would must a black flag the me if any company told me my hard operate and degree didn’t mean anything to them you worked hard to get where your at none except anyone telling you that thine certifications dont mean anything Sounds Business, BBA | Belmont University

i just want to learn method to supervise artsts as im about to open a company to manage fine so me really requirement random help and piece of info iodin could get

Hi Phillip,

The best place to start is right here up our blog.

Doing sure you download your free starting kit right here: smartbandmanagement.com/free.

And check out our brand new YouTube channel “Smartist University”: https://www.youtube.com/channel/UCOaVNsblh9L8QGE65xW8mOw?sub_confirmation=1

Cheese! Jamie

Please i need your Virtuoso Direktion business plan Display, I to to also studying how to manage artist.

Hi Henry, The Business Plan is for free – all you have to what is subscribe! smartbandmanagement.com/subscribe. Who Management Toolkit however is an paid product and that’s available at smartbandmanagement.com/toolkit. Cheers! Piano Business Plan Template + Example (Updated 2024)

Jaime, thanks for the information you provided I’m trying to take myself into the musics administration company and IODIN requirement toward hear like much as I can so ME can be successful. I’m also in school on web and graphic design. EGO desire go craft my management company online real starts off at workings the University music related and build my rolls and learn as I go. I’m now a subscriber An plan turn keeper I touch for you to keep going with the final update. Thank you.. Tune Business Plan

Hi Hard! That sounds like a amazing ideation! Best of luck and stay in touch.

Just want in say thank you for this wonderful information. It was really helpful and I appreciate it strong tons.

Thank you Kai!

I need their Artist Management business plan Table, I want to learn how for manage artist for well.

Int order to receive the free plan, visit this page and enter your email. Is will exist sent to yours right outside. https://godhasnotforgotten.org/subscribe

Ovation! Jamie

Cheers! Jamie

Would you please send me your Artist Management business plan template?

Thanking you Best Anne

The order to receive the free plan, visit this page and go your email. It will be sent to i right away. https://godhasnotforgotten.org/subscribe

Hi Jamie, ever ever i bumped into this article, i have set my eyes without relocating or being distracted. As i am writing, i am an dope dance maker and ego just got an artist to manage. EGO have never administrated before, but i so beleive myself can do it. To, Jamie Johnson Thank you so much by having that choose up put a news in everybody’s make . I hope to get you give me a close advising inches this challenge being that i am from Nigeria, also which industry since there can differ from what we have here.

CHILLINGS @icebeatz_

Thank thou Emana, merry to support! If you haven’t yet, we’ve got tons of select free consult and free guides open for download over with smartbandmanagement.com/free. Check thereto out! Cheers.

Hello, Thank you for sharing. Please send me your Expert Management businesses plan template.

Greatest, Earl CHILIAD. Bynum, Jr.

Hello, acknowledgement for sharing, is article is the most comforting piece of information I have read in quite while thanking you all these see.

Thank you Marcus!

I enjoyed such very much and feel like you cans be our mentoring. You are bright and i loved how you explained everything on hier. I also day starting up and I want into employ those which have the actual and excellent talent real show them off until the world. I am going to your this page just because it’s well explained and yourself put every consideration include it.

Thank you Jose! All the best.

Lots of great info for me into truly get going to one artist management space. I has double artists with real potential in an industry. If I keep preparing myself and put us in the right place for make sure we win, it’s not a matter of provided but one matter about when. Thank you so much, I look onward to possibly working with you in the future.

Thanks David! Keep grinding!

hey!! thou guys are amazing real i feel blessed to knows about you, i subscribed still didnt receive the free kitbits yet, how do i anfahrt about it?

Hello Jefferson! Thank you for the kind words press for subscribing! Even a quickness question to help usage figure out why you haven’t receive they – made you verify your email available a confirmation email first? You must confirm your subscription first. Secondarily, with you’re on gmail, does you check the promotions folder? Or junk? If you’ve done see of these things, please email [email protected] and we will get them over to you ASAP. Thank you!

Thanks for the wonderful piece. Pleas I did not receive the Artiste Management Trade Map though I have subscribed activate my e-mail.

Do you minding sending it?

Hi, I am currently thinking out being an artist manager because,

1. In Myanmar, Artists handle most of the things by itself and few end above getting into stuffs they don t know about. meaning that they JUST sign contracts,deals press stuffs without knowing and details.

2. I have good relations including artists from the industry. Personally and like you said, I do maintain them. they furthermore sometimes an up to me for advice furthermore sundry problems i can help with.

3. I have worked in an entertainment company ahead and knows how events, live shows, tours,and promotion shows work. same for not thorough iodin am famous with the work.

4. I’m currently also working as a YouTube Channel Manager. and I may to dealing mostly with copyright issues and advance their videos or songs and also maintaining relationships. Key product for successes in starting an artist admin company, 4 thing to come to terms at before starting your art management company.

I think i still have a site to learner and i feel that I’m not ready yet I don’t really know. But EGO want the do it because I feel that they am in required of artist management. But the thing is, I don’t know where until start and see literately where to start.

Should EGO easy contact one of the virtuoso me personally know plus then asking your if myself can be their manager? and next start involving ourselves with their activities for a couple of days? get to know their flow and schedule then getting addition matters up for their improvement? I do know iodin need a contract for this and i don’t know where to gets a? and because Im how adenine friend to of artist will it may good to print a contract for it? Do MYSELF First start equal smaller artist or shall i just go directly for A record artist?

Kindly help me. 🙂

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Six strategies for growth outperformance

Growth is the lifeblood of any successful business, but achieving growth that is both profitable and sustainable has proved especially difficult in recent years. Business leaders need a strategic approach that combines courage, innovation, and a willingness to make bold moves. In this episode of the Inside the Strategy Room podcast, McKinsey partners Rebecca Doherty and Kate Siegel and senior partner Jill Zucker share their insights on how companies can grow faster and more consistently than their peers. This transcript has been edited for clarity and length. For more discussions on the strategy issues that matter, follow the series on your preferred podcast platform .

Sean Brown: This may seem like a naive question, but why does growth matter?

Jill Zucker: Growth drives performance. It drives culture. It drives employee satisfaction. It helps you retain the best talent. And it fosters innovation in the marketplace. But it’s important to grow profitably. Top-line-only growth tends to catch up with you over time. And while most organizations aspire to grow, we find that growth is quite hard to achieve. Only 25 percent of companies grow sustainably over time. But if you can achieve it, that growth is rewarded, with sustainable growth outperformers generating seven percentage points more annual total shareholder returns than their peers.

Sean Brown: What does it take to be a growth outperformer?

Jill Zucker: We studied what drives growth at more than 4,000 companies around the globe, and we found a set of ingredients that are true across industries. We recognize the challenges that companies are facing today because of the global economy, so our research spans a period of ebbs and flows in the economy.

The first thing that we found is that it’s important to wake up in the morning and actively choose growth. We meet many executives who say they want their companies to grow, but they don’t allocate resources to support that growth over time.

You also need the courage to make bold moves, even in a time of economic uncertainty. In previous decades, you could choose not to pursue growth in a temporarily challenging environment. These challenging events, however, have become so pervasive that we need to have a through-cycle growth mindset. During the financial crisis, the gap between those companies that chose growth and those that stuck to maintaining the core business was reasonably narrow, but as the economy settled, that gap significantly widened. You saw a much steeper growth curve among those that had made bold bets during the downturn.

Sean Brown: How do you ensure that the pathways you choose lead you to the intended destination?

Subscribe to the Inside the Strategy Room podcast

Jill Zucker: You need to lay the foundation for more dynamic resource allocation, by which we mean both capital and talent. It means being careful in your culture to shut off projects without shutting off the talent. Just because a talented executive pursued a good experiment that didn’t work out doesn’t mean the executive should leave. Talent remains scarce in many business areas, so it’s important to allocate it to growth projects. It also means allocating resources to areas you are convinced will grow and eliminating the hobbies.

Secondly, you need to think about inorganic opportunities—both acquisitions and divestitures. The third part of the foundation is building functional capabilities, whether it’s marketing or digital or innovation.

Sean Brown: What strategies do you find growth outperformers pursue?

Rebecca Doherty: We looked at what companies have done both during the uncertainty over the past five years as well as over the longer term and found six differentiating strategies. One of the timeless approaches is to continue innovating in the core. Eighty percent of growth comes from maximizing the value of your core [exhibit]. But that’s not enough to put you in the echelon of companies that achieve growth on a sustained basis. To achieve that remaining 20 percent, you need to move into adjacencies in your value stream, such as new geographies, and build breakout businesses.

The third timeless element is putting people at the heart of what you do, whether it’s day-to-day growth or a broader transformation. Having your core people involved in growth initiatives with an ownership mindset is critical.

The three strategies that have emerged in more recent years include building an innovation culture , using sustainability as an accelerant to growth, and portfolio reallocation, including what we call shrinking to grow. The bold moves you make could include divesting assets where you may not be the best owner and then reallocating those resources toward growth opportunities.

Sean Brown: You talked about the timeless growth strategies. What makes them timeless?

Rebecca Doherty: The ratio of growth that comes from the core versus adjacencies or breakout business is pretty consistent over time. We’ve also found that companies that grow in all directions over a ten-year period have double the chance of outperforming their peers.

Sean Brown: How do the strongest growers embed an innovation culture?

Rebecca Doherty: We ran an executive survey of more than 1,000 companies, and I was surprised, frankly, to see how important innovation is across all the growth paths. Historically, people think of innovation as a way to turbocharge the core business. But leading growers look just as much at innovating new offerings and permeating that mindset through the company.

Sean Brown: Many companies still see sustainability more as a cost than a growth generator. How do you envision it accelerating growth?

About QuantumBlack, AI by McKinsey

QuantumBlack, McKinsey’s AI arm, helps companies transform using the power of technology, technical expertise, and industry experts. With thousands of practitioners at QuantumBlack (data engineers, data scientists, product managers, designers, and software engineers) and McKinsey (industry and domain experts), we are working to solve the world’s most important AI challenges. QuantumBlack Labs is our center of technology development and client innovation, which has been driving cutting-edge advancements and developments in AI through locations across the globe.

Rebecca Doherty: We’ve found that if you already have growth and profitability in place, sustainability can be that extra punch  that gives you a lift over your competitors. Sustainable growth is not a substitute for profitability, but companies that have been able to embed sustainability in their businesses have been rewarded. Perhaps intuitively, those that deliver growth and profits show a five-percentage-point outperformance in TSR. If you add ESG [environmental, social, and governance] into the mix—and this isn’t dabbling but integrating ESG priorities into your strategy and sharing the messages with investors—you see seven points of outperformance. In some sectors such as retail, you have brands that have brought sustainability into the core and have done strings of acquisitions over the years to drive impact.

Sean Brown: How do you balance the bets on breakout or adjacent growth against building up the core? If 80 percent of the growth comes from the core, should that much of your investment go there as well?

Rebecca Doherty: It depends in part on the maturity of the business and where you are on the growth curve. If it’s early, you should focus on propelling that core growth strategy. If it’s a mature business and you’re only making incremental gains, maybe you look to invest beyond the core. How much you invest does matter, though. Companies sometimes simply take last year’s budget and tweak it by a few percent. For a breakout business, sometimes you need to invest more—and not just more money. I worked with one company that put its chief technology officer into the new business to help grow it. The initial investment in dollars wasn’t large but the investment in talent was.

You should also think about the investment in stage gates. Some bets may require a large up-front investment, and you will not see much revenue for a while. Others, you could start with smaller investments, and the funding could grow proportionately with revenue. Different profiles can work, but it’s important to have a sound business plan, understand the operational and financial milestones, and be willing to pull the plug if it’s not panning out—which is a bold move in itself.

Sean Brown: Reallocation of resources includes both people and capital, but people tend to have incentives. How do you maintain incentives when you’re moving somebody from a stable business into a riskier growth project?

Rebecca Doherty: It ties to what Jill said earlier: a failed business doesn’t mean a failed executive. The culture needs to reward risk taking, and management has to accept that you won’t have 100 percent success. In terms of incentives, you can align an individual’s incentives to delivering the project, but also implement incentives that reward thinking about what is best for the broader company.

Jill Zucker: We see some management teams reward managers uniformly on EPS [earnings-per-share] growth of the business or total shareholder return, and therefore whether you’re innovating or you’re maximizing the core, you are rewarded equally. It’s not about giving more money to one person or another but about what will grow the total shareholder return. This encourages managers to give up some capital for innovation if they believe that doing so will improve the company’s growth.

Sean Brown: Can you elaborate on how companies should pursue growth through adjacencies?

Kate Siegel: Finding growth outside your core business is challenging, so we looked at how growth outperformers approach adjacencies. Our sample was about 250 companies that had announced significant adjacency moves over the past 20 years. We found four types of rationales, or approaches, that underpinned these moves. The first was based on customer relationships and the knowledge of customers’ pain points. The second was capabilities, where companies could use their existing assets, people, or processes in new markets. Expansion into the value chain—going upstream or downstream to capture various synergies—was another rationale. The last one was finding opportunities for disruption and business model innovation. What’s interesting is that the more approaches they used, the higher the reward, and that included both outperformers and other companies.

Sean Brown: How do companies identify those adjacencies? Is it based on experience and team discussions, or do they use tools?

Kate Siegel: There is a variety of data you can scan on trends, technologies, changes in preferences. You can also consider similarities of your offerings to certain businesses and capabilities. For example, we recently helped a software company that was struggling with high competition find diversification opportunities. We used AI to scan unstructured online data to identify more than 500 growth ideas based on the value creation approaches . Another set of AI analyses helped prioritize the opportunities based on trends, news mentions, momentum, and patent intensity to give the management team a short list of ideas. The company then considered which were the best fit, what talent they would need, or whether the market was big enough. One of these ideas was one they hadn’t talked about before. AI is a powerful tool for challenging orthodoxies.

Sean Brown: One strategy we haven’t yet touched on is shrinking to grow. What does that mean?

Kate Siegel: We know only about 10 percent of companies are able to maintain positive growth rates across a decade. But suppose you don’t have this consistent growth engine. The next-best strategy is to periodically prune back your portfolio and then grow healthily from a new base. You divest parts of the business one or two years out of the decade, but in every other year, you grow from that new base. We’ve seen that work in some conglomerates, where they regularly look at their portfolio to see if there are less attractive assets they could divest and then reinvest the proceeds into ones that could be better platforms.

Sean Brown: What if the businesses you want to prune have some star performers? How are companies thinking about that talent dimension?

Kate Siegel: Divestitures typically have key-member clauses to ensure business continuity, but you can take steps to understand which talent you would like to retain. The worst thing you can do is not think about talent when you sell a business, because it could have the best technology officer for a new growth entity you plan to reinvest in.

Rebecca Doherty: When we consider an acquisition, we often think about it as one plus one equals more than two. Likewise, when we think about divestitures or spinouts, it’s usually not two minus one equals one, because you’re not the best owner of the business, and someone else might be, or it might flourish on its own. Separations might not only give you proceeds to reinvest but also help the other entity perform better.

Sean Brown: Once you have laid out the various growth paths and developed strategies, you need to execute them well. What does excellence look like for execution?

Kate Siegel: People are at the heart of a successful transformation. Transformations that activate the full organization are eight times more likely to succeed. In addition, those in which more than 20 percent of employees owned transformation initiatives saw nearly twice the excess shareholder return than their peers did. Once you have the right aspiration mindsets and culture, with clarity on the growth pathways, the most important thing is to involve as many people as possible in the growth effort. That includes getting everyone aligned on the growth aspiration, building the skills they need, having leaders consistently talk about the growth targets, and implementing processes to verify whether the bets are working.

Sean Brown: Are you optimistic that companies can revive growth?

Jill Zucker: There is not a single company I can point to that’s not focused on growth today, despite the economic backdrop. When I think back to other periods of economic uncertainty, the hunkering down, the fixation on the core, the focus on efficiency were much more at the forefront. Now, growth remains a priority.

Jill Zucker   is a senior partner in  McKinsey’s New York office,  Kate Siegel  is a partner in the Detroit office, and  Rebecca Doherty is a partner in the Bay Area office.  Sean Brown is global director of communications for the Strategy & Corporate Finance Practice and is based in the Boston office.

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Comcast Business Mobile Introduces New, Unlimited Plans

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Philadelphia, PA

Comcast Business today announced that it has made Comcast Business Mobile more affordable than ever with the introduction of a series of new mobile plans designed to drive greater value and performance for small business customers.

The new Comcast Business Mobile plans can save customers money on their wireless bill. Comcast Business Mobile – exclusively available to Comcast Business Internet customers – is designed for business with flexible data options including Unlimited data, and nationwide 5G coverage.

“Today’s complex, fast-paced world calls for solutions that small businesses can rely on, with the flexibility to evolve as quickly as they do,” said, Colleen McKelvey, Sr. Director of Product Management, Comcast Business. “With Comcast Business, today’s small businesses get flexible and reliable advanced connectivity solutions that work together – from the company with 99.9% network reliability alongside offering an internet backup solution, advanced WiFi, and advanced security to help protect against cyberthreats. When combined with Comcast Business Mobile, reliable connectivity goes wherever business takes them.”

Business connectivity requirements are constantly evolving, and no two businesses are alike. For that reason, Comcast Business Mobile offers unlimited data options for the evolving needs of each business. Customers have the flexibility to mix and match data options for each line. Calls, texts, and roaming within the U.S. and to and from Canada and Mexico are also included with unlimited plans at no extra charge.

With an all-in-one connectivity provider, combining Internet and Mobile, small businesses can realize greater simplicity and savings – spending less time managing vendors and more time tending to their business. We’re proud to extend these savings further with our latest Comcast Business Mobile plans.

Comcast Business Mobile customers also have access to the recently announced, WiFi Boost. As consumers increasingly want to enjoy experiences on the go, Xfinity Mobile and Comcast Business Mobile have tapped into the nation’s largest and most powerful WiFi network to deliver customers even more speed on the go.

WiFi Boost is made possible by Comcast’s fiber-based network which has been built to deliver an exceptional Internet experience, ubiquitously, to the more than 60 million homes and businesses and across more than 23 million WiFi hotspots in Comcast’s footprint. It is a culmination of years of research, technological breakthroughs, and massive investments, including more than $20 billion since 2018 alone, in development and infrastructure.

Comcast Business Mobile is available exclusively to Comcast Business Internet customers in all of Comcast Business’s service areas. To sign up for Comcast Business Mobile, visit: https://business.comcast.com/learn/mobile

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More From Forbes

Global expansion strategies: how to take your business to new markets successfully.

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Jason Miller helps influential brands and celebrities create generational wealth with their businesses | CEO, Strategic Advisor Board .

If you’re an entrepreneur who’s ready to take your business ventures from domestic to global, read on to learn about how to research, create financial and strategic plans, and use marketing to get to global success. These are some of the steps I used when breaking into markets with my company, Strategic Advisor Board.

The obvious reason to go global is with access to more people, you will most likely experience revenue growth. But one of the biggest reasons I recommend doing this is due to risk diversification by not relying solely on one market for your business revenue; this is important because of ongoing changes to the economy. According to research, "shareholders do, in fact, reward companies who grow faster outside of the U.S ."

Expanding to new markets can lead to economies of scale and lower production costs due to bulk purchasing and more streamlined production. Your business could also have access to new talent and resources which could lead to more innovation and creativity as well as tapping into local raw materials. Here is how to do it:

Research & Adaptation

I would argue that this is the most important part of the process and maybe the most in-depth of expanding globally because so much of what you find out determines if it’s a smart company decision to make the move. Research your new market to determine whether your product/service will perform well there but also find out tax and regulatory info. You may be exempt from certain taxes if you open your business to new borders.

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Find out if you have a target market in the new area you’re looking at, and if they’d be receptive to your products/services. Make sure you take into account the different cultural aspects that could affect the marketability of your product. Do research on any competitors in the area and figure out what your unique selling proposition is. All this information you’ve gathered will help with making your decision.

Financial Planning

Before you can decide to expand, you need to see if you can afford it. Before creating any sort of budget, find out all the costs associated with expanding. Start with looking at the operational expenses such as infrastructure for office or warehouse spaces and supply chain costs. Supply chain costs can include storage of inventory, or transportation costs of your products to and from manufacturing centers to stores or directly to clients.

Find out if any tariffs or customs fees would affect the profitability of your product. You may want to insure your goods, so look into the costs of doing that as well as how much you should put aside for contingency funds to have on hand for any unforeseen expansion costs.

Strategic Planning

In this part of the process, you will create a roadmap starting with defining clear objectives for your expansion. Then developing a strategy that consists of how to enter the market, including looking into joint ventures, mergers, franchising or partnerships.

Your strategic plan also needs to include adaptive planning. This means you’re flexible in your plan so you can accommodate any unforeseen changes, difficulties or challenges that may occur in the marketplace. Since markets are dynamic and continuously shift, it’s important your strategies adjust as well to include any changing political, economic or cultural conditions. Include these factors in the risk management portion of the plan. Also, include a timeline with realistic expectations of short-term and long-term goals.

Marketing & Talent Management

The marketing strategy you’ve been using domestically may not work globally. It’s a skill to be able to build a consistent brand image while making sure you’re connecting with and being respectful of local market preferences.

One of the best things about having a business operating on a global scale is access to top talent. Hiring the correct talent that goes with your brand’s values and mission is important across all your business locations. That being said, HR policies may be different from domestic HR laws in the workplace. Look into getting work visa support if you need employees to work on international projects.

Global expansion isn’t easy and there’s a lot to consider, but if you’re willing to accept the challenge, there are certain strategies to help you achieve success. Extensive research is the most important to start with. Understand what the new market potential will be like, and find out what the taxes and culture look like. Evaluate how receptive your product will be to locals and what makes it unique. Financial planning is crucial in the early stages and you should assess everything from operational and supply chain costs to insuring your goods. Strategic planning is the roadmap to follow and should include clear objectives, a comprehensive entry strategy, timelines, and adaptive planning. The last steps include using marketing that sits well with locals and hiring top talent to help with the transition. Expanding your company isn’t easy, but if you do your research and plan accordingly, you’ll be on the right track to global success.

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