It is not news that the world of business accelerators and incubators is booming. The Top 15 incubators attract thousands of applicants for each cohort submission period. With over 50% of startups raising over $1 million each in additional financing after graduating a top program, many eager young entrepreneurs flock to these opportunities hoping to breakthrough.
A friend’s Facebook status update sparked my own reflection on the last 10 years as I’ve pursued, accomplished, and failed as an entrepreneur, employee, and consultant.
I might come back to this post and expand on one or more of the following lessons, skills, nuances, whatever you want to call them; but for now, here’s the quick rundown:
10 Things I’ve Learned Over The Last 10 Years As An Entrepreneur, Employee, And Consultant
1. How to say “no”.
2. How to ask “what’s your budget?”
3. How to put myself and my interests first (or at least in line with my contribution to projects, others, companies, etc.).
4. How to accept, learn from, and NOT be defined by my failures.
5. How to pick associates and read people better. Big opportunities often eclipse individual motives when collaborating with people who have uncertain intentions.
6. How to use past accomplishments as success stories and not ego.
7. How to build and nurture mutually beneficial relationships.
8. How to be an asset without getting screwed…too much.
9. How to find common denominators that manifest into synergy.
10. How to be good at what I do (and realize when I’m being lazy).
Do you have questions that only someone in the music business can answer? Do you need to discuss problems that you may be having with your career but you don’t have access to the right people? Then the SXSW Music Mentor Program is for you! The program is designed to give direct access to industry professionals who have agreed to share their time and experience with others. Experts from all aspects of the music business will be on hand to provide you with valuable advice that you can use.
Receive personalized input by scheduling one-on-one meetings with the mentor of your choice. The SXSW Music Mentor Program runs for four days (Wednesday, March 18 – Saturday, March 21) of the 2015 SXSW Music Conference. Mentor announcements and online sign-up will begin in late February.
Dae’s Session: Thursday, March 19 from 3:30-4:30 (Full Schedule)
Register to attend today! There will be nearly a dozen mentor sessions this year with a variety of mentors just waiting to share their vast knowledge of the biz with you!
On behalf of my client, I spent the week conducting conference calls and long email exchanges with ASCAP, BMI, SESAC, The Harry Fox Agency, National Music Publishers Association, Association of Independent Music Publishers, Crunch Digital, We Are The Hits, Tresona Music, and Audible Magic securing public performance licenses, obtaining synchronization licensing information, obtaining copyright identification service & royalty administration information for their UGC video hosting platform.
What I learned (or confirmed, rather) is that there is a HUGE need to streamline and make efficient the process of securing synch licenses, a HUGE need to standardized/equalize deal structures between labels and digital service providers vs. publishers and digital service providers, and a HUGE opportunity for a collective-bargaining startup to secure pass-through licenses on behalf of many music tech startups, and we should consider making some forms of synch licensing compulsory.
Nevertheless, as long as the music industry is slow to innovate in how it deals with digital startups, there will continue to be confusion and frustration among all stakeholders and work for me to do as a consultant.