Do You Want to Go Into Business For Yourself?

Steve Raybine:

Blog #37:






Do You Want to Go Into Business For Yourself?






Business is primarily about one thing--making money! Ask yourself this question: Are you the type of person who can implement a business plan; work with a diverse group of people; develop and maintain a clientele; work long hours; pay your own Social Security tax, pension plan and health benefits with no paid vacation? Oh, and if you're also self-motivated; organized; methodical; industrious; talented; honest and friendly, then maybe you might make a living in the business world.






I'm a self-employed person in the music business. I'm a music teacher; performer; composer/arranger; clinician and author. I maintain a private teaching studio where I instruct approximately 45-50 students per week, 48-50 weeks per year. I have a Doctorate Degree in Music, which gives me a prestigious academic credential that most freelance musicians do not have. My current student clientele consists primarily of elementary, middle and high school students, although I do teach some adults. Students pay me on a monthly basis and I require timely payments--not weeks late. If students are unable to make their lessons, they are still expected to pay for the lesson. I do try, however, to make up the students' missed lessons if it is convenient for my schedule. I typically give 110% of my best efforts for each lesson, which is commonly rewarded in my Christmas bonus. I work hard for my students and I expect them to reciprocate in kind--it is a collaborative effort of the highest quality. In general, I eschew redundant teaching methods in favor of more progressive procedures, which I have found to be more effective and productive for students. As I've always said, "Teaching is either the most exciting endeavor or the most boring one--it is dependent upon the teacher, not the student!"






The performing part of my career involves gigs at a variety of venues including clubs; corporate functions; festivals; private parties; schools; etc. I actively solicit work as a performer and negotiate my own fees--both as a soloist and band leader. I do receive performing offers based upon my reputation, but they are generally relegated to local situations versus the regional and national performances that I apply for. For most freelance musicians, procuring quality engagements that pay well is often quite difficult. It requires tireless promotion and negotiation of fees, which are based upon your skill level and the going market value. Needless to say, I don't get every 'gig' I apply or negotiate for, but I often remain a viable option to the promoters within the selection process. Being a 'competitive' freelance performer in contemporary music requires talent and a "tough-as-nails" attitude. As I've mentioned in other writings, I'm a strong advocate for being payed for my performing skills--not playing for less than the American Federation of Musicians (AFM) compensation scale. Remember, I'm in the business of making money, not losing money!






I also make money from selling my CD's at concerts and on the internet and some radio-play royalties. One of the parts of my career I work hardest on is trying to promote and sell my original music. One of the so-called 'perks' of playing concerts for large audiences is the opportunity of making substantial CD sales. With the extensive amount of illegal copying that occurs and decreased CD sales nationwide, selling a lot of CD's is not as easy as it once was--DVD's have unfortunately often supplanted CD sales. However, viable performers still need 'product' (CD's) to sell in order to procure some of the gigs that they are applying for.






So, after hearing my brief story, do you still want to go into business for yourself? Do you realistically think that you can compete with the finest musicians in your area(s) of musical expertise? Do you have something "special" to offer students and audiences that will enable you to generate income from your talents? Are you an effective communicator--can you speak to people on a personal and professional level? Only you can answer these and many other pertinent questions, but I advise you to do so in a very clear and objective manner. Otherwise, you may commit yourself to a career choice that you are not qualified for, which may cause you much frustration and personal and financial disappointment.






Copyright 2007 Steve Raybine


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