If you make one dollar a month for a while and then two dollars a month for a while and then have a TEN dollar month…it’s best not to enter the next month acting like you’re a ten dollar operation.
The burst of a great month is great but bursts are not the norm. That’s what makes them bursts…and makes them fun.
I was talking with a business manager who has a pretty big artist roster and I asked where she sees artists making money mistakes most often.
She said lifestyle on the road.
Because the expenses on the road aren’t a one time thing…they reoccur everyday you’re on the road. She said acts get a little money coming in, then maybe they have a big month or big season and upgrade their life on the road as though that big money is the norm.
And most of the time it isn’t.
A good rule of thumb is even if you’re over spending and bleeding money on tour buses, stylists, guitar techs and monitor engineers night after night…STOP when you run out of money. Worst case scenario let the zero balance be the wake up call.
If you let it go negative (i.e. borrow money), then the stupidity can be endless.
Get a good business manager. Check in with them if you already do. Learn how to grow steadily and make wise predictions on how and when to upgrade.
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I’m always interested in your perspective, whether affirming or dissenting. Continue the conversation anytime: gabethebassplayer@gmail.com