Which are the first 2-3 steps to becoming a music manager?
I'm an artist with an artistic career and I would like to build my management office. To build a music management practice, which documents, connections, and sponsors do I need? Do I need money to make an SRL or do I need to be mentioned in legal publications ?After that, which actions could get me on the path to success?
I think that Music Business Management is about as ruthless as the Real Estate Investment Business. They are both lucrative, but within that business lies sharks that draw blood when bitten. It takes a very special kind of person to swim in those kind of waters and can work within that kind of environment. Bobby Erickson said it all. Based on his response to you he is well educated in this arena. If you don't have a formal education in this field, and understand the nuances of the business, and you know for sure this is what you want to do, I would suggest that you consider more research and getting what you need for yourself to build this business model you call music management. Passion is great, but strategy is the boat with the oars to keep you afloat. Education is the steel ship that keeps the sharks at bay.
To manage other artists you must first have a set of core values by which you will use when you decide to manage others. But most of all, as mentioned prior to my post, find an artist that you truly believe in then promote the hell out of them. Once you break one artist then you will become the pied piper and other artist will come to you. You then need to have your core values in place so that you just aren't managing artists for the sake of making money. Values come first, money will follow, just like the pied piper theory.
You have to be bitten by the music bug. Train the trainer programs in music help. Success will bring sponsors, and legal publications will automatically follow.
Do any of you experts know a platform on the web where they are managers who are looking for artists to promote?
You have to create the name of your office/business, and then concert registrar of the business in your area or country for registration.Also you have to prepare "MEMAT" for your business.After you complete the registration open the bank account of your business and register for tax contribution in your country,then your business is ready to operate.For more assistance, PM me.
There are several documents that you need to startup a Music Manager (various forms of enterntainment management) business. If you are starting a US-based Record Label, Production Company (music/film), Management Company, Events Promotion, or Publishing Company, you should ensure you have your EIN from the IRS.gov. Then, complete the following documentation and registration:
(1) All documents needed to register an LLC: LLC Operating Agreement along with Articles of Organization = US - similar to SRL (limited financial liability)
(2) All documents needed to register a Corporation: Inc. Bylaws along with Articles of Inc.
(3) Record Label Marketing Plan (if applicable)
(4) Sponsorship Proposal
(5) Exclusive Recording Artist Agreement
(6) Artist-Producer Agreement
(7) Artist Management Agreement
(8) Publishing/Songwriter’s Agreement
(9) Non-Disclosure Agreement
(10) Cover Letter for Investors
(11) Other References & Resources, and Entity Educational Information
Also - familiarize yourself with copyright laws, and the process to copyright pieces of work through www.copyright.gov.
In addition to this, you may want to reach out to other music managers, or artist managers to better understand what considerations may need to be taken for your particular area of the business, and if applicable, regions of the world. One place you may want to start is:
You need to have an idea of what problems you will resolve as a result of your business so you can determine the market you will be serving. Before you jump into identifying which documents, sponsors etc you need, you need to have some idea how you want to structure your business model and then begin the process of getting that in place. Once you have that foundation you can reach out to your niche market and let them know what you have to offer. It sounds like you might be a bit unclear about what you really want to do in your business.
Others are recommending all these preliminary organizational steps. My slogan is "Spend no overhead before it's time," and that includes your own time.
Get a client, get a gig, get paid. Only then should you start thinking about setting up all these other things, including the legalities. If there is some step you absolutely must take before getting a client, do it in the cheapest way possible.
Hello Africana. Thanks for the great question. From your question statement, I can only assume that you are looking for steps in establishing an office to manage your music. To that end, I would recommend the first 3 steps in order to be:
(1) Establish a legal entity. You need to have a management office that can actually represent you. Contract, royalty distribution agreements, etc. require legal expertise to write but just as important, requires that documents be signed by an entity with authority. You should consult with an attorney to determine if the entity should be an LLC (limited liability corporation) or other legal form (there are several that would/could apply to you). This entity creation will provide you certain legal protections that your lawyer can explain more fully.
(2) Develop a high level business plan. I say high level because the detail will be done in the third step following this step. A high level business plan provides a baseline and a road-map for managing your music and your music career. It will answer questions such as "What is your 'brand'", "What are the music circles you want or need to be in (out) of", "How do you define success?", etc. And of course, there is the money question in regards to amount available for marketing, advertising, promotions, etc.
(3) Hire a professional music manager. While you may feel that you should be the manager, remember that you time on stage or recording is where the money is made....not in managing the office. The Office will manage the money you make so keep yourself out of the daily management of the Office and focus on your career and music. That being said, be really close to your Office Manager to discuss options, direction, etc. and create a detailed business plan and general operations guidelines.
With all the above, if you feel that you do not need to go that far in creating a Management Office, then your business may not be a size or complexity to warrant the expense of creating one. Be careful here. I have seen a number of companies, especially in the tech industry, go out of existence because the CEO tried to run anything and everything. It (the company) is their "baby" and they just can't seem to let go enough to allow it to grow.
Good luck on your search...I know it is an exciting time. If I can provide clarification or answer other follow-on questions, please let me know.
I would strongly suggest that you have a legal and accounting background. Then specialize in the music and entertainment industry. Last of all this is a business where you need to understand the culture and the nuances of the intrafamily dynamics. Once you have the background, which in my opinion could be gained by working or serving and internship in a large entertainment organization, you will have a good idea about what you need to do.