“Closing The Deal”

I. Be Ready for the Deal- Opportunity is a miracle that you are allowed to participate in when you are prepared to deliver. You will have more credibility with your prospects if you do more planning and less talking, fantasizing, and procrastinating.

Prepare your Proposal- Prepare your vision, your business plan, your budget, your marketing strategies. Know your market and be very realistic about your overall vision. You want to commit less and deliver more. 

 

Prepare your Paperwork- get your company legal documents in order, your online merchant accounts, and any other legal documents that will validate your company.

Prepare Your Product - Spend enough to create a quality product, along with the entire derivative products. Remember that you must also plan to pay for other costs related to packaging your products.

 

Prepare your Promotional Strategies.

II. Don’t Talk Yourself Out of the Deal

Focus on the Process - Time management is crucial when you are distracted by other causes and tasks that can drain you and slow you down. You can begin to feel overwhelmed with the details. If you are not an organizer, say to yourself, I will find someone positive to collaborate with who is a strategic organizer/planner.

 

Focus on gaining Access - Never say to yourself, "what if." Always say to yourself all I need is to connect with the right people and resources and I know that I will be successful. Even if you do not connect initially, use what you have, “power, love, and discipline.

Focus on your Progress - Set short and long-term goals for yourself with timelines for completion. Hold yourself accountable daily for getting things done. Measure everything you do based on what you can do first, then others will join in to help you. If they can’t help you, you don’t need them anyway.

Focus on your Success - Visualize yourself with the deal that you want and more. Stay open to God and the universe to work with you to succeed. Put in the work and it will pay off.

III. Do Not Include Everybody in Your Deal

Resource Consultants - Ask the experts how to position you. Remember, everybody is not going to help you to succeed. Sharing all of your information with the whole world will create a breakdown in your momentum and the loss of your deal.

Out Source Specialist- You do not have to recreate the wheel if someone who specializes in what you need is willing to partner with you.  Successful people know that they cannot be all things, or do all things.  Why call on a barber to market your music products? You will be surprised to learn how many people will help you if you would just ask. You have not, because you ask not.

In-Source Private Research - Always protect your ideas when it come to intellectual properties and patents. The Music Industry is a very cut- throat business that is full of con artist. Protect what ever you are developing way before you begin when ever possible.

IV. Do Not Announce Your Deal until it is signed

Practice Confidentiality - Again, I say learn to practice confidentiality.  Sign confidentiality agreements with whomever you are collaborating with. When you are being coerced into sharing everything about your business, that is a sign that someone wants to know too much too soon about your plans and your products. Do not share all of the specifics about your plans until you are ready to launch or present it.  “Coming soon” will have to do until you reach the point of having everything in place.

 

Pursue Patience - Experience is the best teacher for acquiring patience in this business. The struggles of getting to the point of a release will show you who is legit and who is not. Lack of resources will tell you who is in it for themselves when you have to pay for everything yourself. When you receive those heavenly gifts that come without any strings attached or fine print, you will know that you are in the right place and that you are dealing with the right people. When companies can show their faces without anything to hide, you know that you have found a relationship based company that will help you to grow.

Protect your Future - Most producers and writers today give everything away just to make a deal.  This is not the most equitable way to do business.  If you do not want to spend the rest of your life on the road until you can’t sing, dance, or play an instrument, you should keep your publishing and masters for three reasons: (1) Distributors prefer to do business with clients who own or co-own the rights to their music copyrights. (2) When the time comes for you to make a publishing deal, and you want to get advances against it, or you want to retire from the road, or out right sell it for millions, you need to be in control in order to “close the deal.” (3) Your family should have the right to execute your will to take care of them if something happens to you.  I know of a lot of artists/writers who left a legacy but no money for their families. Be responsible and learn more about this aspect of any deal that presents itself as a great deal for you.