by Menzie Pittman
What are the necessary mind-sets to succeed in today’s music business?
Rule Number 1: Expect the unexpected!
Whenever a curious retailer or a rising musician asks me this question, I always answer the same way. “Expect the unexpected!” The music business is a moving target, so the best mind-set for success in today’s music industry is to embrace that understanding.
It is also imperative to be clear on your personal definition of success. You must be a master of your craft. In the past it was enough for musicians to master a single instrument, and if you were lucky enough to be gifted with the ability to sing, you had more magnetism, and therefore, a greater chance of attracting recognition.
But in today’s music world, the standard expectation is that an artist can play multiple instruments and sing and even more. The industry now expects musicians to be proficient in numerous styles of music. i.e., the Jacob Collier or Michael League model.
The one exception might be for singer-songwriters; their burden is slightly different. They must have a “creative voice” as a writer, one that is unique, as well as the skill for writing songs that cut straight to the heart. It is also imperative that they have a unique persona. Interestingly, this rule applies to independent music businesses as well. We are the singer-songwriters of retail!
We could all probably agree that success means different things to different people. For some, sales and money are the metrics for success; for others it is influence. For the more creative types, the metric is the quality of their artistic expression. Lastly, for others the metric is peace of mind, knowing their intent is to leave the music business positively impacted by their efforts.
No matter what your definition of success is, as an independent retailer, you have 100% control over your artistic vision, and development of your creative undertakings. However, you don’t have any control over outside circumstances, and this is true in every aspect of our industry.
As much as we try to be prepared, we cannot predict the unpredictable; and this is the moment when you truly meet yourself. It is easy to be confident when things break your way, but true sailors are born when the winds and waters become threatening. Though there are many axioms that have earned the badge of trust through the years, my favorite one is one credited to Albert Einstein.
“Adversity, introduces a man to himself.”
So, whether you are a business owner, a top-level employee, a busy performer, a starving artist, or a music teacher, you will collide with the unexpected, before the dance is over, like it or not.
Rule Number 2: Avoid distractions.
If you are like most in the music industry, you wear more than one hat. As a small business owner there is a good chance you will wear several hats. Although that’s a fun bragging right, the scenario creates both excitement and additional personal demands. Because all small business owners wear multiple hats, the chances of running into unexpected snares increase proportionately.
Common unexpected issues may include inconsistent cash flow, seasonal dips, equipment failures such as HVAC, inconsistent customer loyalty, shifting market trends, and on-line competition. Another biggie is the fact that more chain stores have entered the education space, which at one time was a dependable strong hold for small independent music stores.
Rule Number 3: Unique is the “Small Box” advantage.
Although the list of unexpected issues is long, at the same time there are genuine advantages to being a small independent music business. The most important advantage is that ownership has complete control of the vision, style, ambience, direction, and presentation of the business -all the things that make the business unique. And because competent musicians own most independent music stores, they can share a much deeper knowledge of music with customers; this expression may manifest through teaching, or in-depth knowledge about musical instruments.
Rule Number 4: Nothing beats unique!
Small music stores never have to ask permission to express their style. Therefore, they can interact with families and customers on a more personal level. One thing we will all agree on is the landscape of the music business is ever changing, so if you are in it, you already know there is no rest for the weary. And he who stands still, will be left behind.
It is my hope that we never lose the spirit of small dealers. In a way, we are like the songwriters who are the best kept secret in the recording business because they set the trends. What is better than being an independent trendsetter?
