Before You Say Yes: Understanding the Deal in Front of You

This is an area of the music business that really concerns me because I hate seeing people get taken advantage of.

Especially artists.

When you've spent years creating music, building an audience, and trying to get somewhere, having someone suddenly come along and say, "We can help take you to the next level" can be incredibly exciting.

And sometimes that opportunity may actually be what you've been waiting for.

But before you say yes, stop for a minute.

Read it.

Ask questions.

And understand what you're actually agreeing to.

Don't Take the First Thing Put in Front of You

Unfortunately, if you want bigger money backing you, sometimes you may feel like you have to take a deal to get to the next step.

That's a reality artists may have to consider.

But that doesn't mean you should automatically take the first thing somebody offers you.

An opportunity can be exciting without automatically being the right opportunity for you.

Think about where you want your career to be several years from now.

What are you trying to build?

What are you willing to give up?

What do you absolutely want to keep?

Those questions matter because something that looks great right now may have consequences you haven't thought about yet.

And you don't necessarily have to know all of those answers by yourself.

Get Someone Who Understands the Industry

This is where I think having a good music attorney can be incredibly important.

Not just any attorney.

Someone who actually understands the music industry and the kinds of agreements artists encounter.

Tell that attorney what you want.

Tell them what you don't want.

Tell them what you're trying to accomplish long-term.

And then let them help you understand what is actually sitting in front of you.

A contract can contain a lot of language that you don't understand, and there's nothing wrong with admitting that.

That's what professionals are there for.

You shouldn't feel embarrassed about asking questions.

In fact, I'd rather see an artist ask twenty questions before signing something than discover five years later that they misunderstood what they agreed to.

Education Matters

This is also where your own education becomes important.

Read.

Learn.

Ask questions.

Learn the terminology.

Learn about ownership.

Learn about rights.

Learn about contracts.

Learn about the different people and businesses involved in the music industry.

You don't have to become an attorney overnight.

You're not going to learn everything in one night.

Honestly, you're probably never going to learn everything.

But the more you understand, the better prepared you are to have meaningful conversations with the professionals who are helping you.

And that's important because you shouldn't have to blindly trust someone simply because they have more experience than you.

You should be able to understand enough to participate in the conversation.

Don't Let Excitement Make the Decision

One of the hardest things for an artist might be slowing down when something exciting happens.

Someone wants to work with you.

Someone wants to invest in you.

Someone wants to distribute your music.

Someone wants to put money behind your career.

That's exciting!

But excitement isn't a substitute for understanding.

Take the time to think.

Get advice.

Read everything.

Ask what happens now and what happens later.

Think about what the agreement means if things go extremely well.

Think about what happens if things don't work out.

And think about what you want your career to look like before you sign away pieces of it.

Independence Is an Option Too

Personally, if it were my music business, I would stay independent for as long as possible.

But that's just me.

I'm not saying every artist should do that.

There are different reasons an artist might decide that outside funding, partnerships, distribution, or another type of business relationship makes sense for them.

The important thing is understanding the tradeoff.

Sometimes you gain resources.

Sometimes you give up something in return.

Sometimes the arrangement is exactly what you needed.

Sometimes it isn't.

That's why the decision needs to be based on what you're actually agreeing to—not simply how exciting the opportunity sounds.

You Have Time to Learn

And don't beat yourself up if you don't understand everything yet.

You can't learn the entire music industry in one night.

You learn a little.

Then you learn some more.

You make mistakes.

You ask better questions the next time.

You find people you trust.

You keep reading.

You keep learning.

And hopefully, when that really big opportunity finally comes along, you're not just excited that somebody noticed you.

You're prepared enough to understand what they're offering and what you're giving in return.

That's a very different position to be in.

Because getting the opportunity is one thing.

Knowing what to do with it is another.