You’ve decided that you want to build a business in the music industry.
What you may not know is that the mental processes and habits of entrepreneurs are quite a bit different from the average employee. And since an employee mindset was likely taught and instilled in you from early on, you’re going to have to make some adjustments.
The music industry may look like a fun sector to get into. But if you want to succeed, it will take just as much work and effort as any other niche.
Here’s what you need to know about getting started as a music business entrepreneur.
Entrepreneurs are problem-solvers. When a challenge comes up, many people give up. That’s one of the main differences between an employer and an employee. It’s your responsibility to examine problems from every angle and find outside-the-box solutions. This is what entrepreneurs are paid for – their ability to solve problems!
Entrepreneurs have long-term perspectives. Though it is important to have short-term plans and goals, you must stop thinking and making short-term decisions. Things will be difficult at times. Short-term thinkers will quit. Long-term thinkers will focus on the benefits of sticking with what they started, and have the willingness to course-correct and adjust their strategies as necessary.
Entrepreneurs are willing to do whatever it takes. Virtually any individual, any entrepreneur, any business has a chance at success if the person at the helm is willing to do whatever it takes to make it happen. Most people aren’t. If you’re willy-nilly on this point, then even a great business idea may not get off the ground.
Entrepreneurs have money and people work for them. This is the opposite of employees who work for money and other people. Adjusting to this new mindset can take time, because it isn’t what’s taught in school.
Entrepreneurs are risk-takers. Things don’t always work out in business, but entrepreneurs are those who are willing to take a chance to validate (or invalidate) their theories and beliefs. This doesn’t mean that you shouldn’t be calculated and smart about the risks you take, but it does mean you’re willing to take bigger risks than the average person.
Entrepreneurs are leaders. They learn to lead themselves well so they can also lead others. They have vision for their business, and are big-picture thinkers. They’re also able to cast vision and help their team members understand the importance of their role, and what they’re helping to build.
Getting Started As a Music Business Entrepreneur