Being in a band is like running a very unorthodox and difficult-to-manage small business. Even if you’ve got support from a label, the day-to-day financial transactions can bog down what really matters when it comes to being in a band— making and performing music. It’s a cycle, though. In order to make music and perform, of course, bands have to spend money. Recording equipment or studio time, gas for the touring van, guitar picks— it all adds up. And since most bands have more than one member, problems can easily arise from financial situations.
Tag Archive: finances
Entrepreneurs and musicians share much in common. Building a start-up company is similar in many ways to getting a band off the ground. One thing both entrepreneurs and musicians have to make sure they do well is manage their money. At the early stages there’s usually not much money laying in the bank and every expense needs to be considered carefully.
Here are a few things I find useful in managing my personal and my business expenses. They’re not designed with big companies or bands in mind, but simply common sense things that most people neglect to do.
The Black Book