Tommy Darker (Midem 2014) - The Rise Of The Musicpreneur
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Tommy Darker (Midem 2014) - The Rise Of The Musicpreneur
- 5. Context Musicians don’t make a living out of their art. The music ecosystem doesn’t work like it used to and musicians don’t have business skills.
- 8. Future – in 5-10 years Musicians will essentially be their own labels. They will manage their own teams of people and will have a proper business structure.
- 10. Context "I think there is a new business here, that might even be more perfect than the last one. Future: Musicians will essentially be their own labels. And you need different skills, but someone is going to win big in this business.” They will manage their own teams of people and will have a proper business structure. 2008, Seth Godin
- 11. Past - 2008 “This is the greatest moment in the history of music!”
- 12. Context - 'Are you aiming to get signed?’ - 'Why get signed? So I can sell Future: Musiciansmusic will my music in the biggest essentiallythe world? But I can stores in be their own labels. already do that on iTunes!’ They will manage their own teams of people and will Musician, 2008 have a proper business structure.
- 13. Context D2F system is not strong enough YET to replace the old system of business channels and infrastructure. Tools are not panacea, you need to have a business structure and the right mentality.
- 14. Context #Musicpreneur: An independent, polymath musician who takes care of both their artistic and entrepreneurial aspect of their music career.
- 15. Why Musicpreneurs? - No interest in day job. - Pursue crazy ideas. - Value that needs to be streamlined into business.
- 16. Musicpreneurs & Startups #1. MVP (Minimum Viable Product), Prototyping Don’t think about the perfect product.
- 17. Musicpreneurs & Startups The product is the creative process and the experience, not the end consumer product.
- 18. Musicpreneurs & Startups #2. Funding Bootstrap your ideas. Funding is needed to scale up.
- 19. Musicpreneurs & Startups Money is a multiplier, not the foundation. Money is used to bring money.
- 20. Musicpreneurs & Startups #3. Definition of a startup Ask why, test fast, keep expenses low, before you call everyone to pay attention.
- 21. Context “A startup is an organization Future: Musicians will formed to search for a repeatable essentially bebusiness model.” and scalable their own labels. - Steve Blank They will manage their own teams of people and will have a proper business structure.
- 22. Musicpreneurs & Startups Startups have limited resources. They can humanise. They can be authentic.
- 23. Musicpreneurs & Startups #4. Far from perfect Write down 10 reasons you'll fail, find ways to tackle them.
- 24. Musicpreneurs & Startups No matter what you got planned, once you get out in the real world, it's all gonna change.
- 25. Musicpreneurs & Startups #5. Business model Turn assumptions into facts by doing.
- 26. Context “A business model describes how Future: Musicians will your company creates, delivers essentially bevalue.” own labels. and captures their - Steve Blank They will manage their own teams of people and will have a proper business structure.
- 27. Musicpreneurs & Startups Without a stream of income, a new musician will never become a great musician.
- 28. Context “When we create, our action must beFuture: Musicians will impervious to value judgement. essentiallycreate for the sole We must be their own labels. purpose of creating.” They will manage their own teams of people and will - Ghoslain Poirier have a proper business structure.
- 29. What needs to go - The concept of 'starving artist’ - The mutual suspicion between art and business - The notion that entrepreneurship = moneymaking - The DIAY attitude.
- 30. Success as a Musicpreneur #1. Focus on a specific goal and vision. It will refine what art means to you, who you are and why you’re different.
- 31. Context “If you don’t know where you’re Future: Musicians will going, any road will get you essentially be their own labels. there.” - Lewis Carroll They will manage their own teams of people and will have a proper business structure.
- 32. Success as a Musicpreneur #2. Communicate your vision. The greatness of what you do needs to be ‘translated’ for other people to understand.
- 33. Success as a Musicpreneur The quality and nature of one’s vision is appraised according to the perception created by the context, the consistency and the progress of the visible bit of the vision.
- 34. Success as a Musicpreneur #3. Persistence. Nobody owes you a living and you need to go after it. With persistence.
- 35. Success as a Musicpreneur #4. It’s just tools, stupid. Investing in bodies of knowledge indirectly connected with the music industry is the key.
- 36. Context “If they give you a hammer and Future: Musicians will you don’t know how to use it, you essentially be their own labels. will break your finger.” - Common sense They will manage their own teams of people and will have a proper business structure.
- 37. Success as a Musicpreneur #5. Business model. Organize, offer value, make profit.
- 38. Day Success as a Musicpreneur Who are our Key Partners? Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform? What Key Activities do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue streams? What Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue Streams? What value do we deliver to the customer? Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? What type of relationship does each of our Customer Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? How costly are they? For whom are we creating value? Who are our most important customers? Through which Channels do our Customer Segments want to be reached? How are we reaching them now? How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? #5. Business model. What are the most important costs inherent in our business model? Which Key Resources are most expensive? Which Key Activities are most expensive? Organize, offer value, make profit. For what value are our customers really willing to pay? For what do they currently pay? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues? This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. Month No. Year
- 39. Success as a Musicpreneur #6. Money to scale up. Bootstrapping in the real world first, then scaling up.
- 42. Musicpreneur and music economy #1. Business opportunities that will attract investors.
- 43. Musicpreneur and music economy #2. Labels will offer the means for successful Musicpreneurs to scale up.
- 44. Musicpreneur and music economy #3. Employment positions, boost of economy.
- 45. Musicpreneur and music economy #4. Musicpreneurship will be something you measure.
- 46. Musicpreneur and music economy #5. Platforms will connect people around music, free will be profitable.
- 47. Context "A musician who is just a musician Future: Musicians will can never become a good essentially be their own labels. musician” (paraphrasing Vernon L. Smith, Nobelist They will manage their own teams of people and will in 2002, Economics) have a proper business structure.
- 49. Thank you. Let’s talk! www.TommyDarker.com