If you have decided that you want to create a business within music, you are likely to have attended one of this country’s music business schools. Being an entrepreneur takes a special kind of person, and being one in the world of music even more so. You need to get away from the employee mindset and adjust your way of thinking to that of an entrepreneur. Sure, the music business is a lot of fun, but it also very serious. And if you want to be successful, then you have to make sure that you are ready to put in a lot of hard work. So what do you need to know about being a music entrepreneur?
Key Qualities of an Entrepreneur
- You must be a problem solver. If you face a challenge, and you will face plenty, you cannot give up. Employees give up, entrepreneurs plough on through. You will be responsible for examining the issue, looking at it from every possible angle but also outside of the box.
- You must have a long term perspective. Sure, you should plan and have goals for the short term, but you have to make sure that every decision you make, even on a short term situation, will affect you positively in the long term. If you are a short term thinker, then you will quit the first time something goes wrong. But if you are a long term thinker, then you know that finishing what you started will be worth it in the end, and you will make corrections to how you handle your business (remember, you have to be a problem solver) to reach your ultimate goal.
- You have to be ready to do whatever it takes. You cannot put caveats in place in terms of that you will only do certain things if other things are also in place. Bar breaking the law, of course, you have to be willing to do just about anything in order to become successful. That includes doing jobs beneath your ability, sucking up to people you really don’t like, living on beans and toast for a year, and giving up any semblance of a personal life, to name but a few things.
- You need to know how to make money work for you, and how to make people work for you. This is really what sets an entrepreneur apart from an employee. An employee works for someone else, so that money is made for that someone else. An entrepreneur does the exact opposite. And it takes time to flip your mindset to this, to suddenly understand that it is about making everything work for you. That’s not something you can learn in school, unfortunately.
- You have to be willing to take risks. Sometimes, things don’t work out. However, that doesn’t mean you have failed, but rather that you took a risk, and it didn’t pay off.
- You have to be a leader. Not only do you have to lead others who work for you, you have to lead yourself as well. There is literally nobody above you, after all.