{"id":17025,"date":"2012-11-01T13:38:48","date_gmt":"2012-11-01T21:38:48","guid":{"rendered":"http:\/\/unifiedmanufacturing.com\/blog\/?p=17025"},"modified":"2012-11-01T13:38:48","modified_gmt":"2012-11-01T21:38:48","slug":"tips-prevent-money-issues-band","status":"publish","type":"post","link":"https:\/\/www.unifiedmanufacturing.com\/blog\/tips-prevent-money-issues-band\/","title":{"rendered":"Six Tips to Prevent Money Issues with Your Band"},"content":{"rendered":"

On the early stages of forming your indie band, anything related to money is most often avoided because you don\u2019t want to \u201cruin\u201d the excitement or because it\u2019s just too early to think about money or because you want to focus on your music first.<\/p>\n

That\u2019s okay if you\u2019re still not making or owing any money; but the moment you receive your first pay from your first gig, awkwardness and quick calculations happen as you split the money at the end of the night. But quick calculation is not something you can do forever. The drummer who\u2019s driving the band will sooner or later think that he needs a bigger share because his car is not for free use. So, to avoid money issues, here are some things every band should do and talk about once they start getting money:<\/p>\n

What\u2019s the rule for gigs?<\/strong> In general, all money should be split equally between the members of a band after you subtract all the expenses. The problem is in determining the expenses. Make sure you pay for your gas and your driver (even if he says it\u2019s okay) as this is often overlooked.<\/p>\n

Keep Track of Every Dollar.<\/strong> Don\u2019t underestimate what a dollar can do. Money is money so even if it\u2019s just a $10 pizza for your band practice, you have to write it down. There are many online tools for managing your band money but you can also go to a simpler route- Google docs. But your laptop isn\u2019t always with you and it\u2019s just takes so much effort to jot down every single thing online so just record income and expenses in a small notebook or your iPhone and type them online on your convenient time.<\/p>\n

Should songwriters get a bigger cut?<\/strong> This is a very important thing that you should talk about. Maybe it\u2019s okay if you still have 2-3 songs written by one band member but if you already have an album an it\u2019s all written by one person, you gotta have some serious talking. Is he going to get a bigger cut for every gig? By how much? Or is he going to get a bigger cut for CD sales only?<\/p>\n

Pay the guy who booked the show.<\/strong> This is a basic rule but new bands need some reminding. Sure it won\u2019t be an issue if it\u2019s your fourth gig but it will be soon. Booking a gig required effort and is not easy so the band member who books a show should get a certain amount (or percentage) before you split the profit equally.<\/p>\n

Hardworking Band member VS Lazy Band member.<\/strong> So you\u2019re complaining and you want a bigger cut of the pie because you\u2019re working twice as much as the lazy drummer who\u2019s always late and who never even bothered about your website. My suggestion is that if he\u2019s that lazy but he\u2019s exceptionally good, keep him and just deal with it. He\u2019s there to play. Just hire a good band manager and a VA (if you can afford one) to handle all your online marketing. In other words, don\u2019t expect to get paid for your extra effort. It\u2019s either you ditch him (if you have the authority to do so) or just deal with it. No \u201c I should get more money because I do all the work\u201d talk because that is a surefire way to make everything sour. You may complain but don\u2019t connect it with money.<\/p>\n

You Need a Band Agreement.<\/strong> The Music Biz Academy published an article<\/a> about this and I agree that you need to draft a band agreement before you even start making money as a band. Here are some things that should be included in the agreement: Who owns the copyrights to your songs? Who is\/are the songwriter(s)?, Share of profit and loss considerations, How do you make group decisions? How will you vote on band issues?\u00a0, Who owns the name of your group? Or, what about leaving members?, How will you fire someone who isn\u2019t carrying their load?, Ex-members and money\u2014who gets what?, Money issues: band member investments and\/or loans to the band, Spending money and hiring other business professionals.<\/p>\n

They say money changes everything and that is very true in everything- even to \u201cpassion-driven\u201d endeavors like making music. Once money enters the equation, you have to sit down and come up with the best measures to prevent issues and to make sure money is spent wisely. If you value your band and your relationship with one another, do the money talk before money does something to you.<\/p>\n

photo source<\/a><\/p>\n

____________________________________________________________________<\/p>\n

Unified Manufacturing<\/strong>\u00a0is an L.A. -based one-stop-shop that offers very affordable CD\/DVD\/USB replication, custom printing, promotional products, warehousing and fulfillment and many more. If you need an Instant Quote on a project and you want FREE SHIPPING, simply\u00a0CLICK HERE<\/a>. \t<\/p>\n","protected":false},"excerpt":{"rendered":"

On the early stages of forming your indie band, anything related to money is most often avoided because you don\u2019t want to \u201cruin\u201d the excitement or because it\u2019s just too early to think about money or because you want to focus on your music first. That\u2019s okay if you\u2019re still not making or owing any […]<\/p>\n","protected":false},"author":6,"featured_media":17027,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-unified-manufacturing-news"],"yoast_head":"\nSix Tips to Prevent Money Issues with Your Band - UnifiedManufacturing<\/title>\n<meta name=\"description\" content=\"To avoid money issues, here are some things every band should do and talk about once they start getting money.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.unifiedmanufacturing.com\/blog\/tips-prevent-money-issues-band\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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