Return On Investment (ROI) | The Music Spring S02E07
Discovering how to turn a profit from music can be a grueling, demanding and disappointing process for many aspiring artists, especially those who struggle with the business side of their careers. So much hard work invested in effort and money with so little in return can leave an artist wondering if it's all worth it in the first place. For some it wont be and for other it will. Having a clear understanding of how you measure success in your version of a music career (as discussed in previous episodes), together with having clearly defined goals can make decision-making about investment much easier. 'Return On Investment' (ROI) is a measurement used to help us decide if the investment of resource (time, effort etc) is worth what we might potential gain from that investment. For example, spending money on accountants who will save you money in the long run, investing in a music education/lessons, the investment of time on social media to extend your fan base or promote a tour, playing shows for free as a support to gain access to another artists fan base. In this episode of The Music Spring we'll focus on two main types of investments: time and money. We will explore the difference between short term and long-term investments and look at what questions we need to ask ourselves as artists to maintain a balance between these elements so that the most important thing, creating art, is still where the greatest investment lays. Our panel for this show: +Justin Colletti +Andrew Darbyshire +Lee Safar
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