Musicians Are Natural Entrepreneurs

Berkle article clip imageBerklee Today, the journal for alumni of Berklee College of Music, recently gave me the opportunity to explore the relationship between musical training and the skills of entrepreneurs. I interviewed several Berklee alumni who have gone on to create groundbreaking music technology companies serving independent artists.

Each of these companies provides tools that help musicians distribute music, raise funds and market themselves, but what struck me was the similarity between direct-to-fan and lean startup practices. Direct-to-fan platforms give artists a strong connection with their super-fans, providing valuable feedback and ongoing engagement. In particular, early-stage pre-release platforms like PledgeMusic show artists what their fans value and how they want to be engaged. By the time the funding cycle is complete the artist knows their customer and has had the opportunity to tweak their offerings. Each person I interviewed described their musical training as fundamental preparation for working in a startup environment.

You can read the full issue of Berklee Today here or download a pdf of the article. Please check out each of these inspiring entrepreneurs and their companies. You will be amazed!

The rare and valuable skills of musicians

Daniel IndartI recently had the opportunity to create a presentation for Daniel Indart’s Music Entrepreneurship students at the Cornel School of Contemporary Music at Shepherd University in Los Angeles. My presentation: Thinking Different(ly)…The Rare and Valuable Skills of Musicians discussed the importance of an entrepreneurial mindset in today’s music industry. While business and music are diametrically opposed activities, they are complimentary. The life of professional musicians is remarkably like a startup company. We may not think of ourselves in that light, but the similarities are striking. Musicians can learn a great deal by thinking metaphorically and studying lean startup practices. We are uniquely equipped to learn new skills because we understand the process of deep, deliberate  practice. This also makes musicians valuable in a continually disrupted economy where innovation, flexibility, and intrinsic motivation trump past work experience and training.

The students were inspiring and I had a great time. You can check out my slides, a list of related resources, and a survey of revenue streams for musicians from the awesome folks at the Future of Music Coalition.

Please be sure to find out more about Daniel Indart and Latin Music Specialists. Daniel is one of the premier authorities on all genres of Latin music, a prolific composer/producer and a wonderful educator. Thanks for inviting me!