When I left taxes, I did so with a very clear vision of what I want to do for my clients.

I want to remove financial roadblocks so musicians are free to create.

But what does that really mean?

Stress about money is something many people feel. 72% of all Americans are regularly stressed about their finances, which causes depression, inhibits creativity, stifles growth, decreases the quality of the music being put out.

How can you concentrate on creating a masterpiece when you're worried that you can't pay your bills?

But even if you can pay your bills, what are some other financial roadblocks that musicians face? In my 10 years of tax prep experience, here's a quick list of things that held people back from financial wellness:

excessive credit card debt
student loan defaults
IRS penalties and past due taxes
lack of funding to purchase necessary gear for touring or recording
busted or stolen equipment with no insurance or money to replace it
lack of vision which leads to ping-pong effect, bouncing around from job to job with no clear purpose
saying yes to everything
lack of boundaries on finances, which causes them to take gigs where they break even or lose money
no formal legal organization (scary!)
no publishing or digital rights management set up
not using contracts when writing with or producing for other people

I could go on and on.

My job as a DIY music business manager is not to do all this stuff for you, but rather to teach you how to do it on your own.

See, the music business has a problem when it comes to money management. For decades, music business instructors have glossed over basic finance and accounting, encouraging people to hire out this role, saying things like "if you were good with numbers, you'd be in some back room with an electronic spreadsheet instead of winning your way into the hearts of millions of fans."

While Donald Passman has a lot of good info in his book, All You Need to Know About the Music Business, unfortunately, his quote above does not sit well with me. Passman is selling you short here, and depriving you of important information that can help you grow.

Many, many musicians are good with numbers. Every band I've ever worked with has one person who keeps track of the bands income and expenses. So why are industry leaders telling musicians that they should hire someone to do their books for them, instead of teaching them - and their managers - how to do it themselves, thus allowing them to stay DIY and hold on to some of their own money, for a bit longer?

Most big-time business managers won't work with you until you're making somewhere around $250,000 a year, and even then, you’re “in development.” Many CPAs and traditional accountants don't understand the music business and charge hundreds by the hour. Bookkeepers are helpful, if you can find a good one.

What's a DIY musician to do?

How can this industry grow if it's full of people who don't understand finance?

Luckily, I have created a solution to this monetary tragedy.

The process I've developed merges together several reputable business development and strategy guides, combined with my own music business experience, and the advice from dozens of my colleagues and friends. This course is a group effort, put together over 15 years of industry changes and tech disruptions.

Because here's the thing - music has been around since the dawn of time, and no matter the technology at hand, humans will continue to communicate by using notes, rests, and poems.

When you follow the process, establish the structure, and put the music first, the rest becomes easy.

Marketing falls into place.

The struggle stops being "how do I convince people to care?" and becomes "how do I continue to communicate with these people in a consistent and authentic way?"

There is magic in this.

Our process starts with designing the business in a way that is pure and authentic, and gives you clarity for what's important to you, why you work in music, what you're good at, and where you're going. When you know these things, you can say yes to what matters and say no to the things you're over.

Next, we set up the structure. We get the entity registered in the right state, develop a budget and figure out funding, and get our ducks in a row - specifically, banking, taxes, insurance, and contracts. Having this set up before we start the marketing means that you're legally ready to accept money and deliver on your commitment to your fans, business partners, sponsors, and vendors.

Then, we go find those fans. We make a detailed marketing plan that uses your existing fans as promoters, develops relationships with other businesses and strategic partners, and attracts new people into your world. We automate what we can, we brainstorm content ideas based on seasonality, we make target markets and avatars. We find your audience, position you as the best in your field, and make sure everyone knows it.

Lastly, we analyze. We track income and expenses, learn how to make reports, and base decisions on profitability. We run the business part like a business, which creates space for the art to thrive. We remove the roadblocks that are holding you back from continuing down your path. We give you a solid foundation. We identify and eliminate bad habits. We help you find clarity amongst all the noise.

It's not a quick process, but when you're looking at a life-long career, the time spent is worth it.

For more info, shoot me an email and say "I'd like to hear more about the DIY Music Business Coaching Program." I've love to schedule a diagnostic call to discuss your unique situation.

In the meantime, keep thinking about what's important to you.

More soon -

Steph

PS - Here's a graphic to help explain it.

What Exactly Do We Do Over Here?