(Excerpted from Personal Finance For Musicians with permission of Rowman & Littlefield)

Invest! Invest! Invest! It’s time for musicians to make money and get rich quick. After all, the pandemic of 2020 still has everyone in a hole and nothing could be better than striking it big! Right? 

Perhaps! But let’s not get ahead of ourselves. The road to true wealth (measured in assets and liabilities) is a long process. It involves several steps you must check-off before grabbing your mobile phone and the latest investment app to try your luck. Read: Investing is not a game!

What follows is our 7-point checklist to responsible investing and building wealth. We start at the beginning with creating a steady flow of income all the way to playing with funny money if you must. Have patience—at times the process might seem boring and include advice you’ve already heard, but investing was never meant to be fun or sexy when done right. 

NOTE: The seven steps presented here are in a systematic order, but depending on your situation, feel free to skip straight to investing or tackle two or more steps simultaneously. Just be sure to speak with a financial planner to make sure that your path to success is right for you. 

1 CREATE AND MAINTAIN A STEADY FLOW OF INCOME

The first step to investing and building wealth is creating and maintaining a flow of income.

If you are a musician earning zero income or just living from one gig to the next, you are never going to get anywhere unless you turn on the money faucet. This could mean getting more music gigs, utilizing freelance methods, or getting a “real” job! Let’s consider these options: 

Get More Music Gigs: Always attempt to use your musical talents for work first. For me (Bobby speaking), I offered drum lessons in the house that I was renting with roommates. With a little advertising, I had 30 students at $30 an hour. On top of that, I got a house gig with a soul band at $225 a week for three nights a week. Furthermore, I played weddings with the teachers at Berklee College of Music on the weekends at $300 a pop. If I could earn 5k out of school, so can you. 

Utilize “Regular” Freelance Methods: If music gigs are not an option, go with all of the available “regular” freelance methods to make money. One musician we know drives for Uber, Postmates and Instacart and brings in several thousands of dollars per week (all without missing a single band rehearsal or evening gig). This guy even showcases his music to his Uber customers to get feedback while he works! In one instance, he even picked up a famous record producer which led to a studio session.

Get a “Real” Job: Finally, if none of the above situations work for you, go for a steady day or night gig. We suggest you find something that is connected in some way to your ultimate dream of music. One musician we know got a steady gig working as a salesperson at Guitar Center. Not only did he make steady money, he promoted his gigs to customers to increase his concert draw, and networked with equipment reps to secure endorsement deals. He killed two birds with one stone.

Look gang, whatever route you take, just remember that the road to investing and building wealth starts with your own ability to generate income. While this might sound like common sense, you’d be surprised at the number of musicians who still sleep on their friend’s couches penniless waiting to get discovered on TikTok. While people do get lucky, don’t bet everything on number 7. So, roll up your sleeves, be strong, and put your human capital to work.

2 CREATE AND LIVE

BY A BUDGET

Okay, so now that you have a steady flow of money coming in, it’s time to create and live by a budget. Remember, it’s not how much you make, it’s how you manage your money that counts. Follow these three steps: 

Set a Savings Goal: Create a monthly objective setting forth a percentage of your take-home pay that you’d like to save each month. To illustrate, if your take-home pay was 5k a month, your objective might be to save 10 percent (or $500). 

List Expenses: Now list all of your expenses showing how you’ll cleverly use that 5k to meet your savings goal of $500. Know that fixed expenses like rent will be easy, but other expenses like groceries will require you making an educated estimate based on what you spent in prior months. And finally…

Track Expenditures: Track all of your expenditures throughout the month by counting receipts. If you stay on budget, then bravo for you. If there are overages, then readjust your budget and try again. Eventually, you’ll find a plan that works for you. And best yet, you’ll have that 10 percent surplus of money you were shooting for. 

While creating a budget might seem like a lot of work, remember that it really is the hallmark to getting your financial shit together. And like everything else in life, the more you use a budget, the easier it will get. So, take our word for it gang, live and die by a budget! 

3 PAY OFF DEBT AND ESTABLISHSTRONG CREDIT

Now that you have a surplus of monthly cash, put it to good use by knocking out your debt. 

For most musicians, debt will probably be limited to credit cards, school loans, and an automobile. Whatever the case, just know that there are number of strategies to get debt-free. Consider the following: 

Use the Debt Avalanche: Use the “debt avalanche” strategy to double-down consistently on your “highest interest loan” while at least paying all your minimum balances on your other loans. Once paid off, take the amount of money you allocated for the highest interest loan and add it to the minimum payments on the next highest interest loan, and so on, until you no longer have debt. 

Use the Debt Snowball: Alternately, you can use the “debt snowball” strategy to double-down on your “smallest balance loan” while paying at least all your minimum balances on your other loans. Once paid off, take the amount of money you allocated for the smallest balance loan and add it to the minimum payments on the next smallest balance loan, until you no longer have debt. 

Look peeps, the bottom line is that paying off debt means ridding yourself of wasteful interest payments. Furthermore, it means building your credit for important loans down the road, and saving a little money that you can use for a rainy day. 

4 ESTABLISH AN EMERGENCY FUND

After digging yourself out of debt (congratulations), the next step in our 7-step process to investing and building wealth is using that surplus money to establish an emergency fund. This is money you amass for life’s unexpected moments when all things go south. Consider the following:

Save For Six Months to a Year: Attempt to save at least six months worth of living expenses. I (this Bobby) personally feel more comfortable with one year of living expenses. I was injured in an accident (struck by a truck) and it took longer than a couple of months to heal. On top of that, it took a couple more months to reestablish work. So, whether it’s six months or a year, just build up that freakin’ fund ya’ll. 

Keep It Liquid, But Let It Grow: Keep your emergency fund in a safe place where it is liquid (immediately available) and growing in interest. Consider a savings account with an online bank, a money market account with a local bank, or a short-term bond fund via a brokerage company like Vanguard. Where ever you park your money, just remember you’ll need access to your “cash in a flash” when the “shit hits the fan.” So, never tie this money down in stocks or long-term CDs or bonds. And finally…

 Keep It Fully-Funded: Remember that should you ever use your emergency fund, you need to refund it. Be clear that the plan is to be fully-funded and ready for any emergency for the rest of your life. Okay? Good job! Now. Let’s move on.

5 START SAVING FOR RETIREMENT

Now that you have a job, a budget, no debt and an emergency fund, we can begin thinking about shifting all your surplus money into retirement accounts. Make no mistake, retirement (or retirement planning) is not just for old folks, it starts as early as 20 years old and lasts a lifetime. Be sure to consider the following: 

Take Advantage of Employer-Based 401Ks: Start by taking advantage of “tax-advantaged” accounts such as a 401K offered by your employer. This allows a payroll administer to direct a portion of your pre-tax income directly into an interest earning account to grow and be taxed upon withdrawal in retirement. You can contribute as much as $20,500 a year if you’re younger than age 50, and $27,000 annually if you’re 50 or older. And if your boss is really cool, they’ll even match additional funds up to a percentage of your contribution (yup, free bonus money). Hey, this is the best deal in town. 

Open Up An Individual Retirement Account: Now, if you don’t have access to a 401K, open up an Individual Retirement Account (IRA) on your own. A Traditional IRA allows you to personally invest “pre-tax” dollars to grow and be taxed upon withdrawal in retirement. You can contribute as much as $6,000 if you’re younger than age 50, and $7,000 when you’re age 50 or above. There’s also a Roth version of this plan (Roth IRA) where you can personally invest “after-tax” dollars to grow and be withdrawn tax free at retirement. All good stuff! 

Look, no matter which retirement accounts you use, just be clear that Uncle Sam makes it easy for you to save for your retirement and avoid thousands in taxes over your lifetime. While doing this, you can still utilize other non-retirement accounts (called “taxable accounts”) for short-term objectives (like buying a house) or even long-term investments (like extra retirement income). But just be clear that maxing-out your tax-advantaged retirement accounts first is always a good idea. Seriously! Retirement is an investor’s biggest priority. And don’t forget it! 

6 INVEST RESPONSIBLY 

After completing all six steps of our 7-step process to investing and building wealth, you can now consider yourself a financial rock star. So, go ahead, take a bow, you’ve come a long way. 

But now you need to really focus on the principles of investing responsibly. After all, it’s not enough to just throw your hard-earned money in tax-advantaged (and taxable accounts) and just hope for success. Hope is never a long-term and sustainable financial strategy. Believe that! Consider the following nuggets of wisdom: 

Always Set Investment Goals: Setting goals, or more specifically, the time horizon of each goal, is critical to investing responsibly. You see, it’s time that typically determines the type of investment vehicle that you will use. As a general rule, the longer the time horizon for your goals, the riskier and more rewarding the investment (such as stocks). The shorter the time-horizon for your goals, the more conservative and less rewarding the investment (such as short-term bonds). This is generally because a long-term investment strategy can better hedge against the associated risks of market swings or downturns. To illustrate, a long-term goal of saving x dollars for retirement in 50 years, would typically mean utilizing a large variety of stocks. A mid-term goal of saving x dollars for a modest house in 10 years, might mean utilizing a mix of stocks and bonds. And a short-term goal of saving x dollars for a modest car in three years, might be to use short-term bonds, bank CDs, or money market funds. So always remember, goals and their time-horizons heavily influence your investment decisions.

 Know Your Risk-tolerance: Knowing your risk tolerance and the amount of money that you are comfortable with potentially losing, is also important to investing responsibly. Or said another way, knowing your allocation of stocks to bonds is critical to your investment success. Remember that stocks (which are highly volatile) and bonds (which are less volatile) are not widely correlated and can help to balance out your portfolio over your life-time. The legendary Jack Bogle (Vanguard’s founder) says, “Put your age in bonds and the rest in stocks.” So, if you are a 20-year-old musician saving for retirement, you might put 80 percent into stocks and 20 percent into bonds. At age 40, your portfolio might hold 60 percent into stocks and 40 percent in bonds. And at age 70, your portfolio might hold 30 percent in stocks and 70 percent in bonds. You get the point—your investments become less risky as time progresses. So, knowing your risk tolerance and getting your stock to bond ratio right is important to both building and preserving your wealth. Take this tip very seriously. 

Diversify Your Portfolio: Diversifying your portfolio is yet another extremely important tip to investing responsibly. This essentially means that rather than trying to find a needle in the 

 haystack (i.e., picking the winning stock), you buy the whole freakin haystack. This means buying investments such as index mutual funds that cover a number of different companies, sectors and geographical regions. To illustrate, a 30 year-old investor might purchase a 70/30 (stock to bond) risk allocation including: Vanguard’s Total Stock Market Index Fund (which contains 4,070 companies in technology, consumer discretionary products and financials all over the U.S.); Vanguards Total International Stock Market Fund (which contains 7,754 companies in consumer cyclicals, financial services, and healthcare all over Europe, the Pacific and emerging markets); and Vanguard’s Total Bond Market Index (which contains 10,127 investment-grade bonds in US treasuries, and mortgage-backed securities all over the U.S.). As you can see, index funds are very diversified and can prevent you from putting all of your eggs in one basket. This way you win some and lose some, rather than lose everything on a one-horse bet. 

Avoid Management Costs: Keeping costs low is also extremely important to investing responsibly—and this is where the news is really going to get great. Not only are index funds (just mentioned above) a highly diversified investment, they can also be one of the lowest-cost investments. This is because index funds track a stock market index and do not require the more expensive “active management” associated with other types of mutual funds and individual stocks. Since the fund essentially mirrors a section of the stock market, tracking its performance is much easier and less time consuming. It does not require the daily management of numerous stock transactions attempting to beat the market returns. This is why time and time again, expert investors such as Warren Buffet have strongly recommended index funds. So, if you’re smart, this just might be a great move for you too.

Aim to Beat Inflation: Another super important tip to consider when talking about investing responsibly, is the risk of inflation on your investments. Inflation (an increase in prices and decrease in the power of money), has averaged at about three percent over the last decade. This essentially means—in this example—that your investments must earn three percent in annual interest to keep up with the pace of inflation. If your money is sitting in the bank earning an annual interest rate of .01 percent, you’re screwed. Thus, your best chance of beating inflation is probably going through an investment vehicle like our trusted Vanguard stock mutual index fund. While past performance is no guarantee of future results, stocks have historically provided higher returns than other asset classes. This, coupled with the low costs associated with passively-managed index funds, will likely help you net the decent annual returns on your investments you need to succeed. Just, remember, inflation is critical to watch. 

Aim to Lower Taxes: Dovetailing nicely from inflation costs, taxation also poses serious costs on investment returns. According to the Schwab Center for Financial Research, this is because you not only lose the money you pay in taxes, but you also lose the growth that money could have generated if it were invested. 

 This is why it is so important that you employ as many tax-efficient investment strategies as possible. Here’s just three to think about: 

1) Max out your “tax-advantaged” retirement accounts (401Ks, Roth IRAs, Traditional IRAs, etc.) each year since these accounts are almost like free gifts the government provides to help you save on taxes. 

2) Invest wisely in your other “taxable accounts” by using long-term buy-and-hold strategies that won’t trigger regular short-term capital gains taxes (which are higher taxes incurred from selling your investments in under a year). And finally, 

3) Delay a portion of any lump sum payment you might be owed (like a large publishing or merchandising advance) till next tax year. This way you might avoid falling into a higher tax bracket and paying more income tax in the current year. Sounds good? Look gang, whatever strategies you use, just never pay more in taxes than you need to. Avoid taxes legally when you can.

Avoid the Noise and Stay The Course: Finally getting to the end of our investment tips, know that avoiding all the financial noise in the media and just staying the course is hugely important to investing responsibly. There are so many experts filling you up with supposed opportunities and gloom and doom, it’s enough to make you bail ship on your financial plan in search of a better solution. But if you’re constantly buying in and out of the market due to greed and fear, you are doing yourself a major disservice. You are allowing your emotions to get the best of you, costing yourself time and money, and creating a lot of stress and worry. So, stop looking at your investments every minute and have faith in long-term investing. Sure, the movements of the stock market are always going to fluctuate on the short-term, but know that the market tends to rise steadily over the years. In fact, since 1928, the U.S. stock market has averaged returns of 9.8 percent per year. So, go live your lives a little. Write that new hit song that brings in hundreds of thousands and go get that publishing deal. Have faith that you put together a killer financial plan, and stand by it. Know that staying the course is a sound piece of advice. It’s also the famous slogan of Vanguard’s founder Jack Bogle (who actually created the Index Fund). Wow! Godspeed! 

7 PLAY WITH FUNNY MONEY (ONLY IF YOU MUST)

Finally, moving away from our perspective on investing responsibly, it’s time to play with “funny money,” if you must. 

Funny money is money you can afford to lose. It’s the money where you can be highly speculative, throw down on a crypto stock pick that some guru mentions in a Facebook group, or invest in a buddies’ restaurant. Who knows, you might even get super rich and finally get that mansion, yacht, and lime green Lambo, It doesn’t matter if you lose it because it’s all about having a little fun. After all, you deserve it. You’ve busted your ass, followed our advice, and have the above six steps completely under your control. Hey, whatever makes you happy! 

But before running off to the race track, it’s important to look back on the past. Throughout history, people have always been trying to get rich quick. There was the gold rush of 1848 where everyone got greedy thinking they were going to strike gold (most didn’t); there was the dot com craze in 2000 where everyone got greedy thinking they were going to strike it rich (most didn’t); and now there is the crypto thing where people want to get a taste of the millionaire dream (and many have already lost their asses

Look, if you want to play with “extra” money, have fun! But always be realistic about the odds and never let “playing” get out of control. Adhere to our six steps above, and remember smart investing is not supposed to be fun. Take this advice seriously folks. Okay? 

So that’s our 7-point checklist to investing and building wealth. This stuff is not revolutionary, but it is crucial to your personal financial education and your future. 

Some of this stuff you’ve likely heard elsewhere, and some of it you’ve read in other articles and books (by us!). But maybe that is the point—what works is worth repeating. And what works is worth adapting to your own investment playbook.

On that note, give these tips a try, and speak with a financial planner who can cater to your needs. One or two sessions can never hurt. Sound good? Peace!

RECOMMENDED READING ON INVESTING 

Here are a few investment books and other resources that we highly recommend. After all, life-long learning should be yet another smart step to every responsible investor. Happy reading! 

BOOKS

• Personal Finance For Musicians by Bobby Borg and Britt Hatsey

• The Little Book of Common Sense Investing by Jack Bogle

• The Little Book of Bullet Proof Investing by Bill Stein and Phil DeMuth

• How to Think About Money by Jonathan Clements

• The Random Walk Guide to Investing by Burton G. Malkiel 

• Rescue Your Money by Ric Edelman

• The Wealthy Barber by David Chilton

• The Richest Man In Babylon by George Clason

• The Index Card by Helaine Olen and Harold Pollack

• The Coffee House Investor by Bill Schultheis

• The Bogleheads Guide to the Three-Fund Portfolio by Talor Larimore

• The Bogleheads Guide To Retirement Planning by Taylor Larimore, Mel Lindawer, Richard Ferri and Laura F Dogu

• Common Sense Investing by Rick Van Ness

• Why Bother With Bonds by Rick Van Ness

• Think, Act, and Invest like Warren Buffet by Larry E. Sweroe

• Four Pillars of Investing by William Bernstein

• The Only Investment Guide You’ll Ever Need by Andrew Tobias

• Get a Financial Life by Beth Kobliner 

WEBSITES

• Investopedia: investopedia.com

• Nerd Wallet: nerdwallet.com

• Bankrate: bankrate.com

• The Finance Buff: thefinancebuff.com

• Oblivious Investor: obliviousinvestor.com

• Forbes Advisor: forbes.com/advisor

• Yahoo Finance: finance.yahoo.com

• Morningstar: morningstar.com

As musicians, we all ponder the role of personal managers, those guiding lights who can shape our journey. They navigate us toward our artistic vision while deftly handling the nitty-gritty of the music business. Picture them as our champions, hyping us to the right business contacts, unveiling hidden opportunities, securing sponsorships, and orchestrating epic tours. They’re the backbone that ensures everyone involved is pulling their weight and more.

But here’s the thing: personal managers don’t grow on trees; they’re a hard-earned privilege. Truth is, until we’ve made some headway on our own, those seasoned managers with clout may not bat an eye in our direction. If we sit around waiting to be rescued without making our own strides, well, our musical journey might just veer into the abyss.

That’s why it’s crucial to grasp the diverse management options available to us musicians. From the DIY approach to linking up with established professional management, there’s a path for everyone. But before we dig into those essential routes, let’s quickly walk through the myriad roles a personal music manager can undertake. So, hang tight and read on, fellow musicians, as we embark on this enlightening voyage together.

Excerpted from the book Business Basics for Musicians, 2nd Edition

© 2023 By Bobby Borg

PART 1:

THE ROLE OF A PERSONAL MANAGER IN YOUR CAREER

By strict definition, a personal manager advises and counsels artists in all aspects of the new music business. This may include artist development, project management, touring, contracts and income streams, and so much more. 

A. Artist Development

The manager may assist with the development of an artist’s career via the following activities: 

•Encouraging You to Get Your Brand Together: Inspiring you to polish up your brand—from your artist name and logo, to what you wear and say in public, to the charities and other organizations and brands with whom you associate. 

•Assisting with Your Sound and Songs: Inspiring you to polish up your compositions and musical sound. If needed, the manager may even help set you up with songwriting consultants, cowriters, and producers, and help you find complete songs to record and perform. 

•Helping You to Improve Live Performances and Merch: Inspiring you to perfect the quality of your live performances (set list flow, presence, etc.) and merchandising designs (T-shirts, hats, stickers, etc.). And finally . . . 

•Helping You Build—and Monitor—Your Fan Base: Encouraging you to strengthen your connections with fans, including improving your social media content strategies on sites like Instagram and TikTok (or other), finding ways to get fans’ assistance with promotion and spreading the word-of-mouth, and ultimately getting fans to engage with you more personally through monetized crowdfunding platforms and Patreon. Additionally, your manager will help you to monitor fans through the use of various analytical tools and artificial intelligence to gain insights and make smarter decisions.

B. Contracts and New Income Streams

Your manager may also help initiate various business deals by doing the following: 

•Setting Up Meetings and Seeking Out Future Opportunities: Setting up meetings with potential co-writers, publishers, merchandisers, sponsors, and record companies, and seeking out immersive opportunities in the metaverse, digital asset stores and NFT marketplaces, and—when you’re a huge star—catalog sales via top music investors.

•Researching the Right Deals: Researching which companies and representatives are best suited to your talents and musical style, based not only on a company’s past signings or successes, but also on its financial stability, management capabilities and understanding of your vision.

•Recommending You Find Legal Counsel: Providing recommendations for legal counsel to help shop your music to various companies and review important contract terms that are relevant to the new—and ever-changing—music industry. And finally . . . 

•Working Collaboratively with Your Attorney: Communicating with your attorney about important contract deal points, but knowing when to step aside and let the attorney do their job. 

C. Project Management 

When, and if, you sign a recording agreement, your manager may also assist by doing this: 

•Getting Everyone at the Label Excited About Your Career: Lighting the fire under the label’s ass and trying to make sure that you will be a top priority. 

•Monitoring Pre-Release and Post-Release Activities: Providing marketing ideas regarding the branding, price, place, promotion and measuring of your records, and fighting tactfully for what is best for your career. And finally . . .

•Meeting with Departments: Meeting with the various departments at the record label, (new media, licensing, press, sales, marketing and radio promotion), and to make sure that everyone is talking and working in concert to further your professional career. 

D. Hybrid Services: Merch, Publishing, and More

As if the above tasks were not enough, some management companies operating under newer business models may even assist your career by doing the following:

•Providing Label Services: Handling all matters concerning the funding, recording, manufacturing, distributing, promoting and monitoring of a record, in addition to all other management services. Said another way, the management company is a label, or the label is a management company—however you see it. 

•Providing Publishing Services: Seeking creative uses of your songs in film, TV, games, and podcasts, issuing licenses to music users for the use of your songs, and collecting all income generated by these uses. And finally . . . 

•Providing Merchandising Services: Helping design and manufacture effective merch that sells, helping the group sell merch on the road and via retail outlets, and seeking sub-licenses to expand the product line. And finally….

•Providing Digital Marketing and Advertising Services: Acting as a digital marketing service in influencer marketing campaigns, advertising campaigns, email marketing brand sponsorships, and general social media management. 

E. Live Engagements and Touring

Moving on to another role, a personal manager may also assist with the following: 

•Securing a Talent Agent: Helping you to find a licensed talent agent who specifically works on procuring live performances. Your manager will work together with this agent to determine which tours are best for you, to make sure that you’re getting the best offers from concert promoters, and even to help direct your performances from city to city. 

•Working with Your Business Manager: Helping you find a business manager who specializes in the music business, and working together with him or her to ensure that your tours are properly budgeted. Hotel accommodations, transportation, stage crews, and other expenses will be closely examined in an effort to minimize expenses and ensure that you turn a profit (or at least cover expenses). And finally . . . 

•Hiring a Tour Manager: Hiring a “tour manager” who is responsible for keeping a watchful eye on all business matters from city to city, night after night. This could mean checking you in to hotels, “advancing” the shows (making sure that each venue has the proper accommodations in place for you), “settling” money with promoters at the end of each night, babysitting, and bailing you out of jail—seriously!

F. Physical and Mental Health Issues

Finally, once an artist is successful, a great manager can assist the artist in the following ways: 

• Monitoring Physical and Mental Health: Looking out for the artist’s health and well-being, and knowing when to say no to that extra morning radio show, public appearance, podcast interview, or leg of the tour. 

•Checking in with the Artist: Checking in with the artist and simply asking him or her, “How are you doing?” Said another way, the manager checks the goose that is hatching the golden eggs, rather than just focusing on the golden eggs. This is important. Artists are known to break down when they’re pushed too hard. Elvis Presley is one classic example. Destiny’s Child, Britney Spears and Justin Bieber are more recent examples. 

Turning Bad into Good: POST Malone and IGGY Azalea

Dre London, Post Malone’s manager, highlights another role of personal managers—turning bad into good.  

London discovered that Malone’s upcoming album had been leaked online. This could have been a major setback for the album’s release and promotion, potentially affecting its sales and reception.

However, instead of letting the leak derail their plans, London and team decided to turn it into a marketing opportunity. They created a scavenger hunt on Twitter, where they released different snippets of the leaked songs and hid clues for fans to find the full tracks.

This not only generated excitement and engagement among Post Malone’s fanbase, but also helped increase the album’s visibility and anticipation. When the album, Hollywood’s Bleeding: The Director’s Cut, was officially released, it debuted at number one on the Billboard 200 chart and became one of the best-selling albums of the year. Totally fire! 

In another example of turning bad into good, T.I., Iggy Azalea’s manager at the time, helped Azalea avoid a major PR disaster and instead turned it into a positive experience. 

Iggy Azalea was set to perform at the Pittsburgh Pride festival, which was a highly anticipated event for the LGBTQ+ community. However, a Twitter user resurfaced old tweets from Azalea containing homophobic and racist remarks, which caused a backlash and calls for her to be removed from the lineup.

T.I. could have suggested Azalea issue an apology and let the situation play out. Instead, he came up with a creative solution. T.I. suggested that Azalea use the opportunity to educate herself on LGBTQ+ issues and work closely with the community to make amends.

Azalea agreed and as a result was eventually welcomed back by the LGBTQ+ community. Make no mistake, folks, turning bad into good is a major role of the manager.•

PART 2:

Management Options

Now that you understand what a manager does, we can discuss the various management options available to you. The most common choices, depending on how far along you are in your career, are self-management, start-up management, and established professional management.

A. Self-Management (DIY or DIE) 

In the early stages of your career, good management must always begin with the artist. Unless one of your relatives happens to be a record label or publishing company president, no one is going to help you until you first help yourself!

As your self-manager, consider the self-assessment checklist below to determine whether or not you are doing all the right things.

• Have you given serious thought to your long-term career vision? 

• Have you written a large repertoire of songs or even cowritten with professionals?

• Have you professionally recorded, mixed, mastered, and packaged your music?

• Have you developed a consistent and unique brand (name, logo, look, attitude)?

• Have you learned to properly release your music in streaming and physical formats?

• Have you mastered your marketing game both online and offline, as well?  

• Have you developed creative methods of connecting/engaging with your fans? 

• Have you amassed respectful analytics (streams, social numbers, reviews)?

• Have you developed a kick-ass live show and amassed a respectful local draw?

• Have you attempted to hit the road playing colleges, festivals, other events?

• Have you created a line of merch (T-shirts, hats, etc.) and generated decent sales?

• Have you aligned with any product sponsors and formed symbiotic relationships?

• Have you pitched your music in synch (film, TV, games) and secured placements?

• Have you attended industry conferences (NAMM, SXSW) and built a network?

• Have you subscribed to the trades/podcasts and got a grip on the new music biz?

• Have you made an effort to keep up with emerging trends (NFTs, Web 3, AI)?

• Have you found methods to pay bills, set goals, and manage your time like a pro?

Musicians often believe that the solution to their problems is finding someone to whisk them up from rehearsal room to superstardom. An experienced manager can make good things happen fast, but he or she is not a solution for your laziness. This is the digital age, where doing it yourself is far easier than ever before. Bottom line: you must generate some action on your own—and prove that you don’t need any help—in order to give managers a valid reason to want to work with you.  

B. Start-Up Management

After you’ve reached a point in your career when you’ve done all the things mentioned in the list above, and you just can’t go any further without a helping hand, then perhaps you’re ready for a start-up manager. This might include one of the following: 

• A Friend: A close friend who’s willing to make phone calls and help promote shows without getting paid for the first few months or years. In fact, he may not even be called a “manager” at all, working with the understanding that as soon as your career progresses, he will be replaced by an established professional manager and offered some other position with the band. 

• A Retired Musician: An experienced musician who wants to “right all the wrongs” she encountered in her professional career, and has got all the passion and drive needed to set you on course. 

• A Businessperson: An educated businessperson who’s always dreamed of being in the entertainment business and has the desire to live those dreams through you.

• A Club Owner: A club owner in your hometown who sees hundreds of bands perform each year. This individual has a good idea of what works and what doesn’t and is willing to offer you an objective point of view and career guidance. And finally . . . 

• An Intern: An intern or junior assistant of a professional manager by day who’s looking to cut his teeth on managing his own artist on his downtime at night. He’s got the advantage of having his boss’ ear for guidance and observing how a professional office is run all day.

While start-up managers may not be the most experienced folks, don’t underestimate their value. They can be some of the most loyal and hardworking people around, and they’ll stick with you through the tough times. And who knows, they may even grow into being legends. Look at Andrew Oldham. He started out with the Rolling Stones when he was just 17, and he became one of the most successful managers of all time. Johnny Wright started managing New Kids on The Block at just 18, and he also went on to manage Jonas Brothers and Justin Timberlake. Impressive! 

C. Established Professional Management

Finally, if you’re able to create serious momentum in your career (get millions of streams, start generating some income, and/or attract labels and publishers), then established professional managers will be more interested in working with you. You might be referred to these folks via your record label, or they might seek you out. Let’s look at mid-level and big-league managers.

Mid-Level Managers 

Mid-level managers are those who have a great deal of experience in the industry but have not quite broken a band into superstardom. Maybe they have one client on their roster who was able to amass several million Spotify streams and social media followers on Instagram, YouTube, and TikTok (or other), but they still don’t have that bonified superstar artist yet—and that’s what they’re shooting for! They are typically well liked in the industry and have a big enough network to open some doors for you. 

However, the problem with mid-level managers is that they are not as powerful as big-league managers, and therefore it may take them longer to get things done.

Big-League Managers

Big-league managers (like Irving Azoff, Scooter Braun and Coran Capshaw) have been around for years and have lots of Grammy-winning superstars on their rosters. The relationships they’ve formed, the respect they’ve earned, and the favors they can trade give them the power to make things happen with just a few phone calls. 

However, the problem is that you could easily get lost in the sauce. This means that you get overshadowed by their more profitable clients. I was with a group that had one of the most successful rock management companies in the word (one that handles Metallica), and we never even did one date with the band or really much of anything at all. We soon left the management. 

Qualities of the Manager 

There are dozens of experienced, professional, established managers out there, any one of whom is capable of doing the job. The important thing is picking the one who really wants to work with you. 

Don’t just pick a manager who has the biggest stars on his or her roster, takes you out to the most expensive restaurant, or makes the biggest promises. 

Above all, your manager must possess a genuine enthusiasm for your music, an understanding of your vision, and a commitment to going the long haul. Of course, they must also come highly recommended from people you respect, and they must be trustworthy.

Be sure to read the biographies of some of the most interesting managers of all time and make note of some of the other character traits that you admire. One I’d like to recommend is the story of the Rolling Stones manager titled Stoned: Andrew Loog Oldham. Oldham understood branding and how to create the Stones’ “bad boy” image; he was an innovative thinker and helped the Stones retain ownership in their masters; and he knew how to form the right alliances for the band (he connected them with the Beatles). 

Another manager you might want to read up on is Scooter Braun. Scooter was a strong believer in social media (long before it was the industry norm), and had a knack for spotting hidden talent online, notably Justin Bieber. He also knew how to form the right alliances for Bieber by hooking him up with Usher, who was very instrumental in furthering Bieber’s career. 

So, what traits are important to you? Be sure to give this some thought. •

BOBBY BORG is a music industry professor at USC, author, and YouTuber at youtube.com/bobbyborg. He is the author of Music Marketing for the DIY Musician, Business Basics For Musicians, and Introduction to Music Publishing. He is the co-author (with Britt Hastey) of Personal Finance for Musicians.

There are tons of independent musicians who struggle with paying bills on time and building credit, and just as many artists who blow up and lose their fortunes in 10 years. This is why all musicians need to know something about money management. Bobby Borg, co-author of Personal Finance for Musicians, offers seven key take-aways.

1. Income

Take advantage of all of the different ways you can monetize your music today while still pursuing your career as an artist, so you don’t have to bust you ass at some meaningless day job. There’s a lot of money to be made in licensing for film, TV and video games, selling beats, or creating functional music for meditational purposes.  Not only do these gigs generate good money so that you can cover your bills until you one day hit it big, they are also flexible, so you can always put your artist career first.

2. Wants Versus Needs 

When it comes to expenses, find a balance between what you want and what you really need. Wants are the expensive cars, rad apartments, and fancy restaurants every night. And Needs are your more practical expenses. This is important because if you expect to build your financial future, then you need to get your expenses right first. Look, the last thing you need is to spend all your income and start relying on credit just to get by. This can put you into a hole so deep it can feel like there is no way out. 

3. Debt

Dovetailing nicely from digging yourself into a hole, make getting out of debt your number one priority. Sure, it is great that you took out a school loan for your education, but add consumer debt to that, a car payment, and that credit card debt you have at Barneys New York for fancy clothes and handbags, and you can really be up shit’s creek in interest payments, fees, and threatening creditor phone calls. Consider using the debt avalanche technique (where you double down on your highest interest loan first till you pay it off, and then move on to the next highest interest loan) or use the snowball technique (where you double down on the smallest balance loan first till you pay it off, and then move on to the next smallest balance loan) till you’re totally debt free. No matter which technique makes sense to you, start getting out of debt today!

4. Investing

The time to start investing is right now. Even when you’re in debt, there is no reason why you can’t peel away a little something from your income for a future goal. But note that if you’re keeping your income in a bank account that earns .01 percent interest, your money is decreasing in power on a daily basis due to inflation. So, you need to get your money out of banks and invest it into something like an index mutual fund where you can potentially earn an average of 9 percent interest on the long-term. Index funds are also highly diversified (you’re investing in thousands of companies in many cases, not just a single one), which potentially increases your odds for success. Just remember, long-term investing always beats short-term speculating. Stay away from “get rich” strategies and people who claim that they can beat the market every time. 

5. Retirement 

While on the topic of long-term investing, be sure to take your retirement very seriously. Just keep mind that retirement is not just what old people do in Florida when they get bored of working and just want to play golf and sit on their fat asses. Retirement is freedom—freedom to do whatever you want on your terms without needing to worry. That could be the freedom to build your own recording studio in your backyard, or the freedom to only tour when you want to and for as long as you want to without the fear of going broke. Whatever retirement means to you, note that the earlier you start saving for it the better. This is due to something called compound interest (interest on interest).  The more years you have for your money, the larger your pot will be when you need it. 

6. Limiting Beliefs

Musicians need to get rid of all the barriers to personal finance, like “I don’t need to know this stuff, I’m just gonna blow up and hire a team.” But even if you do blow up, you never want to put your money in control of others without knowing what’s going on. Would you believe that NAS got sued by the IRS for 6.5 million dollars because the accountant thought the business manager was talking care of taxes, and the business manager thought the accountant was taking care of taxes. Personal finance is always your responsibility. There are no excuses. And finally…

7. CPA and CFP

My book provides a strong foundation to money management, but everyone’s personal situation is unique, so you at least want to meet with a certified public account and certified financial planner at least once to map out a plan for you. I offer a ton of resources for how to find and evaluate these professionals, so check them all out.

So, in closing, Personal Finance For Musicians is everything you should have learned about personal finance in high school, but didn’t. It’s presented in a non-intimidating way, specifically for musicians. I hope you’ll check it out. It’s on Amazon and all fine book sellers.

1. Income

Take advantage of all of the different ways you can monetize your music today while still pursuing your career as an artist, so you don’t have to bust your ass at some meaningless day job. There’s a lot of money to be made in licensing for film, TV and video games, selling beats, or creating functional music for meditational purposes.  Not only do these gigs generate good money so that you can cover your bills until you one day hit it big, they are also flexible, so you can always put your artist career first.

2. Wants Versus Needs

When it comes to expenses, find a balance between what you want and what you really need. Wants are the expensive cars, rad apartments, and fancy restaurants every night. Needs are your more practical expenses. This is important because if you want to start saving some of that money you make to build your financial future—and you also want to start paying-off some of your high interest debts that you’ve been drowning in—then you need to get your expenses right.

3. Investing

The time to start investing is right now. If you’re keeping your income in a bank account that earns .01 percent interest, your money is decreasing in power on a daily basis, due to inflation. So, you need to get your money out of banks and invest it into something like an index mutual fund where you can potentially earn an average of 9 percent interest on the long-term. Index funds are also highly diversified (you’re investing in thousands of companies, not just one), which increases your odds for success. Just remember, long-term investing always beats short-term investing. Stay away from “get rich” strategies and people who claim that they can beat the market every time.

4. Limiting Beliefs

Musicians need to get rid of all of the barriers to personal finance, like “I don’t need to know this stuff, I’m just gonna blow up and just hire a team." But even if you do blow up, you never want to put your money in control of others without knowing what’s going on. Would you believe that NAS got sued by the IRS for 6.5 million dollars because the accountant thought the business manager was taking care of taxes, and the business manager thought the accountant was taking care of taxes. Personal finance is always your responsibility. There are no excuses. And finally…

5. CPA and CFP

This book provides a strong foundation to money management, but everyone’s personal situation is unique, so you at least want to meet with a certified public account and certified financial planner at least once to map out a plan for you. There are a tons of resources in the book for how to find and evaluate these professionals.

In closing, this book is everything you should have learned about personal finance in high school, but didn’t. It’s presented it a non-intimidating way specifically for musicians. So, I hope you’ll check it out. It’s on AMAZON and all fine book sellers.

–Bobby Borg

BOBBY BORG is a music industry professor at USC, author, and YouTuber at youtube.com/bobbyborg

Identity theft and fraud exists when a less than desirable person gets hold of your personal information, uses it to open new lines of credit, and racks up debt in your name. It also exists when someone uses your info to withdraw money from your existing financial accounts. 

While we could go on and on with examples of identity theft and fraud, the bottom line is that it can temporarily ruin your life and good credit standing—and seriously sidetrack your music career. This is why learning a variety of safety precautions to protect yourself from thieves is an important part of personal finance.

What follows are 20 tips—from storing your personal information safely to utilizing identity theft prevention services. There’s a lot of stuff here that can seem a bit overwhelming, so feel free to skim the list to get a general idea of the important steps you can start taking today. 

   STORE YOUR PERSONAL INFORMATION IN A SAFE PLACE

The first step in protecting your identity is to make sure no one has access to your personal information. 

This means securing things like your social security number, credit card number, and bank and retirement account numbers. You can use a secure computer hard drive, file cabinet with locking drawers, or home safe.            

Also, be sure to limit to whom you give important information like your date of birth, address, and mother’s maiden name. You can simply keep that information tucked away in your pretty little head. In other words, zip your lips!

Remember, there’s only one of you on this earth. Don’t let someone else try to be you. Protect your personal information like you would the “rights” to your award-winning songs.

   SIGN YOUR NEW CREDIT CARD IMMEDIATELY

Signing the box on the back of your credit card immediately upon receipt is great practice in minimizing your chances of identity theft. 

To ensure your signature sticks, use a non-erase sharpie pen just like the ones you use to sign autographs for your beloved fans. 

Or, if you don’t want to sign your name, simply write, “Check ID” in the signature box on the back of the card. This way, the clerk will ask for your ID each time you make a purchase. 

Whichever approach you use, it’s far better than just leaving your credit card blank. 

   NEVER LET YOUR CREDIT CARD GET OUT OF YOUR SIGHT

Keeping your eyes on your credit card each time you use it is another preventative measure. 

Yes, we know this isn’t always possible, like when that server walks away to run your card. But as a general rule, never lose possession or sight of your credit card for more than a couple of minutes.

This means don’t loan out your credit card, don’t leave it at the club because you were too drunk to remember to pay your tab, and don’t leave it with the front desk at the rehearsal studio where you rent space. There are many other examples, but you get the gist! Watch it, or else!

   REVIEW CREDIT CARD BILLS TO ENSURE TRANSACTIONS ARE YOURS

Though it can be time consuming, looking at your monthly credit card statements is plain smart. People usually don’t find out about illegal charges until they’ve reviewed their statements. And for those who never look at their statements, they end up paying for purchases that are not even theirs. Do you really want to pay for three rounds of drinks you never drank? Nope! 

Look, when credit card companies are alerted of dispute charges early enough, they may remove it from your account and not hold you liable. So, always inspect to protect!

   ASK FOR ALL YOUR RECEIPTS

Ask, ask, ask! Having receipts as documentation for your purchases is a great way to protect yourself from theft.            

Since most of us can’t remember all our purchases or recognize transaction names on our statements, you’ll now have receipts as a reference. If there’s a charge on your credit card that you can’t match to a receipt, you may be the victim of fraud. OUCH! Should this happen to you, notify your credit card company immediately and dispute the charge. 

   BE CAREFUL USING ATMS

Cash is king. And sometimes you need a little of it in your pockets. But just remember that ATMs are hotspots for identity thieves.

So, the next time you visit an ATM, keep the following tips in mind: 

•Look for suspicious skimming devices on the front of the ATM 

•Do not use ATM machines that look jank or have shifty keypads or card slots

•Never leave your ATM receipts behind. And finally…

• Watch for people looking over your shoulder 

Bottom line, use common sense when using ATMs, and you just might thwart the thieves!

   UPDATE ALL YOUR ONLINE PASSWORDS 

Okay, we know…it’s a pain in the ass keeping track of all your passwords. But making sure your passwords are fresh and newly updated is one of the best fraud prevention techniques out there.

To minimize fraudulent access to your online accounts, create strong passwords with random letters, numbers, and symbols. Just never use words, names, or phrases that can be easily connected to you. For instance, don’t use your personal name or band name for one of your passwords. While this might sound like common sense, remember that sense is not always common. Okay! Now. Let’s move on! 

   INSTALL SOFTWARE THAT DETECTS SPYWARE AND OTHER VIRUSES

One of the sneakiest ways thieves can obtain your personal information is through the internet. 

Therefore, always install antivirus and anti-spyware software on your computer. For a small subscription charge, you can get top-rated products by Norton, Bitdefender and McAfee.

Warning: Criminals posing as legit websites commonly offer free giveaways of “antivirus” protection software in hopes that your greed will get the best of you. Should you fall for this and download their free product, spyware may be installed on your computer. So, be mindful of everything that you download from the internet, or you could end up regretting it.   

   ACTIVATE TWO-STEP AUTHENTICATION ON YOUR ACCOUNTS

Since criminals can easily crack one online password, it makes sense to activate two-factor authentication (2FA).

2FA is an extra step added to the log-in process, such as a code sent to your phone, that helps verify your identity. It offers an extra level of security that cyber-thieves can’t easily access.

Typically, sites that offer 2FA will ask you to activate it every time you log on. Other sites, like the college where I work (this is Bobby), will insist you sign up for it, or you won’t be able to log on. Ha ha. I guess this is my college’s way of using tough love to cause change.

   BE CAREFUL WHEN USING PUBLIC COMPUTERS 

Be careful when using public computers in libraries, schools, and hotel business centers, especially when logging on to your business and financial accounts.

Personally, we’d recommend not using public computers at all for business use. But when you’re out on the road with your band and you have no other options, at least do the following: 

• Log off of every account you visit

•Don’t allow the computer to save your login information

• Delete your history

• Watch out for over-the-shoulder snoops

•Never leave the computer unattended while logged on to an account. And finally…

• Never enter any sensitive information 

 By practicing these few tips, you’ll keep your info safe and keep the thieves away.

   DON’T FALL FOR PHISHING AND OTHER SCAMS

Don’t fall for phishing and other scams that are devised by criminals to catch you off guard.

With a phishing scam, you’ll typically receive an email with an internet hyperlink that directs you to a criminal website that contains fields for you to enter your personal information.

To protect yourself against phishing scams, follow these six tips:

• Ignore outrageous or overly urgent emails

•Be extra cautious of people asking for personal information 

•Do not open attachments you are not expecting, no matter who it is from 

• Avoid clicking on embedded email links

•Watch for suspicious emails even when they appear to be from a friend. And finally… 

•Be wary of emails with improper grammar/spelling and shoddy graphics  

Remember folks, if you happen to fall for a phishing scam, the hacker will be “gone fishing” with your personal information. So don’t let this happen to you. Enough said! 

   PURCHASE ONLY FROM SECURE SITES (HTTPS://)

Purchasing from sites that begin with https:// is another smart way to beat the fraudsters. 

Sites using this protocol are secure and on a legit server.

So before whipping out your credit card on your next online purchase, heed our advice. 

   WIPE (OR DESTROY) ALL ELECTRONICS BEFORE PARTING WITH THEM

Taking extra precautions before selling, trading in, or disposing of electronics is also a good bet in helping you secure sensitive data. 

When selling or trading in electronics, always wipe your computer hard drive and phone’s SIM card. If you don’t know how to do this, have an expert assist you. 

When disposing of electronics, drill holes through your computer hard drive and smash your phone’s SIM card, as well. Hell, blow them up for all we care!

This one is a no brainer. So, just do it!

   CHECK YOUR CREDIT HISTORY FOR SIGNS OF FRAUD

Checking your credit history for signs of fraud is something you should do on an ongoing basis. This is often overlooked, and thieves know this.

You can obtain a free credit report from annualcreditreport.com once per year and purchase additional statements throughout the year from the three major credit bureaus, Equifax (equifax.com), Experian (experian.com), and TransUnion (transunion.com).

A good rule of thumb is to get your free report in January, and then pay for the others in April, July, and October. While some people may think this is over-kill, we say it’s just smart! 

   FREEZE YOUR CREDIT SO FRAUDSTERS CANNOT OPEN ACCOUNTS

If you are not planning on opening new accounts or applying for new loans in the immediate future, then you may want to freeze your credit by calling the three credit bureaus. 

A credit freeze prevents unauthorized persons from opening credit in your name, and also blocks creditors from checking your credit profile. You really can’t get any safer than this.

Just don’t forget you’ll have to unfreeze your credit (or unthaw it) should you ever decide to apply for new lines of credit. All this requires is a simple call to the credit bureaus. That’s it!

    REQUEST ZERO CREDIT CARD SOLICITATIONS AND JUNK MAIL

Opting out of credit card solicitations and junk mail is also a good idea in protecting you from potential fraudsters. Someone could steal one of your credit card offers and attempt to open a card. Or you might fall for some silly junk mail offer and end up getting scammed. 

So, to cover your ass, follow these three steps below:

•Call The Consumer Credit Reporting Agency to opt out of new credit card offers. There number is 1-888-5optout (1-888-567-8688) 

•Send a letter to: Direct Marketing Association to opt out of junk mail offers. Their address is: Attention Mail Preference Service. P.O. Box 9008. Farmingdale, NY 11735-9008. And finally… 

•Contact DMAChoice in an additional effort to set preferences for what you want to receive in the mail. Their website is https://www.dmachoice.org/static/learn_more.php 

Just don’t be surprised if you still receive solicitations after going through these processes. But remember, anything you do to get rid of these annoying solicitors (even if just a few), is better than doing nothing at all. 

   PROTECT YOUR INCOMING MAIL  

Probably one of the easiest ways to protect yourself against identity theft and fraud is to protect your incoming mail from lurking thieves. That’s right! 

Mail theft has been on the rise, especially after the 2020 COVID pandemic that changed the world. People got used to having everything delivered to them via Amazon and the United States Postal Service, and thieves have been jumping all over this opportunity to rip you off. 

So, be sure to follow a few or all of these simple tips:

• Retrieve your mail ASAP after delivery

•If leaving town (i.e., touring) inform your post office to hold your mail

•Report suspicious activity around your mailbox to the police 

•Get a Ring Doorbell Cam for renters or home owners. And finally… 

•Get a post office box at the Post Office or The UPS Store 

Look, the last thing you want to do is have thieves get a hold of any important packages or letters that contains sensitive personal information inside. It’s yet another way they can steal your identity and fuck up your credit. Not to mention humiliate you. So, take this tip seriously. 

   MAIL BILLS AT THE POST OFFICE ONLY

We know it’s a pain in the ass, but consider using the Post Office exclusively for outgoing mail, especially those pieces that contain sensitive information. 

I (this is Bobby) actually got a few checks stolen from the mail when thieves ripped the entire USPS metal mailbox right out of the cement. Can you believe that? Fortunately, I noticed the missing mailbox just after the incident took place, and made the decision to cancel my checks before they could be cashed. Of course, now, I mail everything from my neighborhood Post Office. 

So, make no mistake, simply leaving sensitive outgoing mail in your mailbox is recipe for both mail and identity theft. Take care. Don’t let this happen to you! 

   BUY A PAPER SHREDDER AND SHRED IMPORTANT “TRASH”

Stop throwing away important information in your trash. This includes credit card offers, deposit slips, bank checks and statements, canceled checks, and medication or prescription receipts. 

Instead, get yourself a paper shredder from Staples or Office Depot that crosscuts your information (not strip cuts). This is the best way to protect yourself against dumpster-diving thieves. You know that “so-called” transient who is searching for bottles to recycle? Think again! 

Yup, trashing important info is like feeding hungry sharks.

  USE A SECURITY MONITORING SERVICE (LIKE LIFELOCK)

Finally, a secure way to help prevent identity theft is to use a security monitoring service.

While we do like LifeLock, some other security monitoring services are Aura, Identity Guard, and Identity Defense, just to name a few.

These services range from credit monitoring to data recovery and offer multi-layer protection for your personal information. They even have insurance of up to $1 million.

So, do yourself a favor and let others watch your back, 24/7. This could pay off big-time.

Okay, so that concludes our 20 tips to protecting yourself against identity theft and fraud. Since identity theft and fraud can temporarily ruin your life and good credit standing, we highly recommend that you practice as many tips as possible. Even if you can practice just a few, you’ll be far ahead of most musicians. So, what do you say? Get to work at protecting yourself today!

Personal Finance For Musicians
is available in physical and digital form on Amazon and other fine book sellers. 

BOBBY BORG, MCM is a former recording/touring artist, founder of Bobby Borg Consulting, and author of Music Marketing For The DIY Musician, Business Basics For Musicians, and Intro to Music Publishing. He is also a music industry professor at USC’s Thornton School of Music.

BRITT HASTEY is the Department Chair of the Business Administration Department at Los Angeles City College. He is also an adjunct professor at Chapman University, University of Massachusetts, and UCLA where he teaches Personal Finance. 

The latest of episode of deadly mistakes musicians make. watch episode 1 here: youtu.be/o1Hu6NlwKgs

Bobby Borg is a former major label, indie, and DIY recording and touring musician (with the rock groups Beggars & Thieves, Left For Dead, and Warrant), the author of several music business books (Music Marketing For The DIY Musician, Business Basics For Musicians and Introduction to Music Publishing For Musicians, and a professor of music industry studies (at USC Thornton School of Music). Bobby Borg holds several degrees in music, marketing, and communications from Berklee College of Music, UCLA and USC.

More at bobbyborg.com

Bobby Borg is a former major label, indie, and DIY recording and touring musician (with the rock groups Beggars & Thieves, Left For Dead, and Warrant), the author of several music business books (Music Marketing For The DIY Musician, Business Basics For Musicians and Introduction to Music Publishing For Musicians, and a professor of music industry studies (at USC Thornton School of Music). Bobby Borg holds several degrees in music, marketing, and communications from Berklee College of Music, UCLA and USC.

Borg is available for one-to-one consultations via bobbyborg.com