You work hard for your money - there is no question it takes hard work to be successful in this industry. It is only fair that you know where your money is being made, where it is being spent, and where it is being multiplied. It is crucial to know when and how to delegate - sometimes that means hiring a publicist, signing with a booking agency, or taking a pay cut for a show that has the potential for killer exposure. At the end of the day, only you can decide what your time and effort is worth to you, so its important to know and to seriously consider all the factors.
Where is your money going? What is it getting you? Did the new equipment pay off at your last show? Simon Tam discusses all these questions and more on MusicThinkTank.com - join the conversation.
"If you have a strategic philanthropy element in your band’s business plan, sometimes your ROI could be measured by the amount of good an effort can create for others. For example, a fundraiser to help someone in need could be worth it to you even if it doesn’t land you a record deal."