$10,000 is a lot of money. Send anyone, even a millionaire, a $10,000 check and they’ll cash it.
If you’re an artist with $10,000 and it’s looking like you’re next big idea is going to cost $10,000, you need to make the right choice. You can’t afford to make a $10,000 mistake, because that mistake will burry you.
You need to do the research, talk with people, ask questions, find people who have been in your same situation and ask them their experience.
You need to make a great decision.
Making a bad decision in this case means the money is gone, there’s anger and resentment at people because it didn’t go well, you’re feeling dumb for making a poor choice, and an overall sense of “what do we do now!??”.
Here’s the real trick. If all you have is $10,000, avoid ever making a $10,000 decision. It’s too risky. Nothing is a lock in this business. If that money goes bye bye, chances are you go bye bye. If you have $10,000, only make $1000 decisions or maybe $5000 decisions.
That way if it goes badly you have the recourses to bounce back, both monetarily and emotionally.
Never put yourself in a position where if the project/decision/campaign falls apart, the whole thing crumbles.
p.s. True, $10,000 is indeed a lot of money…However, if you have a million dollars, you can afford to make a $10,000 mistake. Not that you still shouldn’t vet things out and be smart about your project (your record, PR campaign, radio campaign, merchandising, etc)…but the truth is you could light $10,000 on fire for the grand finale of your next show and not really feel a financial pinch.
It’s all about percentages and ratios. Be smart.
Don’t miss a post. Sign up for free.
I’m always interested in your perspective, whether affirming or dissenting. Continue the conversation anytime: gabethebassplayer@gmail.com