Everyone has an idea; everyone has talent; everyone thinks that they can write or play or sing a song better than much of what they hear on the radio. There are one hundred songs on the charts. Why can’t theirs be one of them? Perhaps it can. However, I am certain it will not.
In fact, although unique talent is rare, all of us have talent to one degree or another. But what we do with our talent is the ultimate issue—and the key to opportunity.
I say opportunity, not success, because all one can hope for in the music business is opportunity. Success depends on many factors: the ability and inclination to roll up one’s sleeves and work at the craft of creation so as to actually improve and fine-tune one’s skills; the ability to earn money and to provide oneself with food and shelter during the process, which can and will take many years; understanding one’s limitations; and identifying an attainable goal and keeping it in mind over the years, amid innumerable distractions. It also depends on one factor over which even the most talented individual has no control: luck—ever-changing radio formats; the attention—or inattention—of an artist’s representatives at important moments; timing (for example, the release of a key single on the same day the label is shut down and its artists moved to a sister label). I have long been sure that most of the talented people who pursue their craft diligently and over a long period of time—those who “stay in the ring”—do realize their potential. The truth of this has been proved time after time. What I am less sure about is what advice to give to the young artists who have talent but who may not have the personal or financial resources to pursue a career in the arts. One thing is for sure: These artists will not lack for advice. There is no limit to the number of people, including top professionals in the music business, who think they know it all. Sometimes advice givers are being practical; sometimes they are simply jaded; sometimes they are dead wrong—and some are greedy and will say anything to get up-front money. So, how can the artist seriously pursuing a career in the music industry maximize the chances of getting good advice? As I emphasize throughout the article, the best approach is to assemble a team consisting of a lawyer, a personal manager, a booking agent and an accountant (you will need someone to keep tabs on your expenses or cash flow).
Let’s talk about the professionals you’ll need to maximize your career and net worth.
SELECTING THE RIGHT LAWYERS FOR YOUR MUSIC BUSINESS
There is plenty of justification for seeking out a good lawyer from the outset, not least because lawyers have become an important source of business to the record and music publishing companies. Record companies know that if they maintain a cordial relationship with us, they may eventually be at the top of our shopping lists when an artist of significance comes into the picture. Lawyers are also safe—in the sense that the presentation of an artist to a record or publishing company by an attorney diminishes the possibility that the artist will create problems for the company in the future.
In addition, lawyers are licensed by Federal authorities and have ethical code of conduct that guide and bind them. ( like the Nigerian Bar Association, Rules of Professional Conduct 2007 and the Legal Practitioners’ Act 1975).
People in the entertainment industry have learned something that many in other industries –and countries- have not: the selection of a lawyer should be made earlier, not later, so he or she can help you in structuring your deals and relationships in ways that can avoid problems. But, although choosing the right legal representation is one of the most important decisions that creative people make, there is no simple formula for making the right selection. Lawyers come with offices, secretaries, and occasionally ties and jackets. They come in every possible stripe and from every possible background, and it is difficult to evaluate them objectively. Attorneys with all of the trimmings appear to be more stable—more dependable—than those without. But appearances can be deceptive, and there is no substitute for extensive experience in the music industry.
It is not difficult to begin your search. Numerous websites and bar association assistance lines, as well as books and magazines, identify lawyers whose practice areas include the music business. Most lawyers, or their assistants and secretaries, are helpful and clear with callers and are happy to guide potential clients to the appropriate firm or institution for assistance. In addition, most lawyers will provide brief consultation time, at no charge, to potential clients.
Once you are in the process of narrowing down your short list of potential lawyers, however, things become more complicated. You will need to personally interview each lawyer, and at some point all of the following questions must be answered to your satisfaction:
● Has the lawyer had experience with your kind of music?
● Which record companies does the firm have the best relationships with?
● Which record companies have most recently signed the firm’s other clients?
● What is the firm’s policy with respect to introducing new clients to other clients –like producers, managers, songwriters, production companies, etc.?
● How does the firm resolve the issue of conflict of interest in the event that it sets up relationships with other clients in your area?
● How does the firm charge for services, and what are the rates of the partners?
● When rates are about to change, does the firm advise the client?
● Does the firm request a retainer (an advance against fees), and how is it calculated (for example, does it reflect hourly, monthly, bi-annual, yearly rates that will have to be “refilled”)?
● What are the firm’s, and the artist’s, short term and long-term goals?
● If the agreed-upon goals are not fulfilled, or are not fulfilled in a timely fashion, is the unused balance of the retainer returned?
● How are the nitty-gritty details handled? (for example, when the firm “shops” a demo, does it copy the artist on the correspondence? If contracts are made via email or telephone, is it the firm’s policy to provide updates on each contact, or periodically on a quantity of contacts?)
Although it may appear so, I am actually not suggesting that as a potential client you interrogate potential legal representation with a machine-gun barrage of questions. Needless to say, no one wants to be subjected to this kind of questioning. And you are still the “seller,” not the “buyer,” so you will have to be somewhat more circumspect in your approach. Nevertheless, these are all questions that need to be explored and eventually answered.
So in subsequent articles, we are going to emphasize on the importance of the following team members you will need. The main players once again are your: 1. Personal manager 2. Lawyer 3. Business manager 4. Agency 5. Groupies.
With respect to number 5, you’re pretty much on your own. As to the others, let’s take a look at it in subsequent articles.
