Managing a successful teen artists.

The role of an artist manager can be a lucrative yet busy ordeal.  There are many things that can go right with your artists.  What do you do when things go wrong?

I don’t know if there is a definitive answer to this question.  Every artist is unique. Bad things happen even with good planning.  Put simply, every body has a bad day from time to time.  The question should be how do you manage the fallout when something does happen.

In recent news Justin Bieber, teen singing sensation, has come under scrutiny because a few mishaps on his recent tour.  Bieber faints backstage at his London tour stop and is rushed to the hospital, he is caught fighting with a paparazzi photographer after being heckled by his fans for appearing late to another concert at a previous tour date.  Situations like this can be a nightmare for an artist manager.

How does a manager handle things when their artist is in the midst of what appears to be a breakdown?  

Father vs Manager

Father vs. Manager

In recent years the relationships for the artist managers have grown to the closest arrangement possible.  The hiring of parents as managers is being practiced more and more.  It seems to be a logical choice in the beginning of an artist career to choose someone they can trust to handle their affairs.  The use of a parent, at first, would appear to be a logical choice.  Why not have someone who has already been tasked with developing the artist as a person to help develop the artist as an artist. This practice, however, leads to a crossroads later on in the artist career. 

If we look back to the late 80’s when Janet Jackson decided to take control of her own career.  She chose to make that statement by creating the album control.  In this case, Janet was attempting to separate herself from the shadows of her well-known parents and brothers.  Janet’s first two albums entitled “Janet Jackson” which was followed by her second album “Dream Street” where both produced by her father Jo Jackson or her brothers.  This was indeed an early example of the trend that is being practiced today. 

The two latest examples of this practice would be Beyoncé and Jessica Simpson.  Both artists chose to let their fathers manage them early in their careers, and both eventually fired their fathers as managers.  This poses a question.  Was it a good decision for the artists to hire their family members to manage their careers? 

In retrospect, in both cases, it seemed to work.  Both artists have had very successful careers under the tutelage of their parents.  Beyoncé has come up to be a very successful recording artist, songwriter, actress and performer.  Jessica Simpson has made a mark with her career as well.  Staring in her own reality shows, branding her name with a clothing line and a not so bad singing career.

It is obvious that this type of arrangement does work, but it is very short lived.  As with normal every day life, an artist will outgrow the business relation ship they have started with their parent(s).  There will always be the need for the artist to spread their wings and take complete control over their careers.  In most cases this will involve hiring someone else to manage their careers and focus on their relationship with their parent.  

Review of Effective Negotiation tactics

I have chosen three videos that explain different practices in Negotiation.  When negotiating it is important to have a mutual win for both parties. These videos demonstrate the different routs to getting to what you want out of the negation.

Conducting Effective negotiations: Stanford business

In the lecture video Joel Peterson talks about how to conduct a negotiations.  He talks in detail about positional bargaining, Handling dirty tricks and BATNA.  I found it interesting that his approach to reacting to dirty tricks while negotiating is calling them on their dirty trick.  He also explains that he will often ask questions as an in offensive way to handling dirty tricks in negotiations.  It is also a good thing to plan according to what games they may play ineffective.

Joel Peterson also explains how important it is to have a BATNA (Best Alternative to Negotiation Agreement) and to try to figure out your opponent’s BATNA.

The Voluntary Life: Entrepreneurship part 7 Negotiation.

The narrator explains that when starting a Negotiation make sure you write everything said down.  Try to avoid haggling.  In this video the narrator mentions BATNA.  What will happen if the negotiation fails?  Always be aware of what your best alternative is.  They explain the principles of using objective criteria.  The author shuns the use of Dirty tricks and trying to “pull a fast one” on the person you are negotiating with. There is always options available that will give both you and your opponent what you each want out of a negation.

William Ury: The walk from "no" to "yes"

This video showcases a speaker who has written many textbooks on Negotiation PhD William Ury.  Ury starts the speech telling a story about three brothers who inherit 17 camels and can’t figure out how to split them.  It took an old lady giving them an 18^th camel for them to figure out haw to divide the 17. This is an example of of stepping out of the problem in order to find a resolution.  This reminds us of how to handle those tricks during negotiations and turn them around.

All three of videos offer plenty of information that an entrepreneur in the entertainment media industry could use when negotiating a deal.  It is very clear that the best rout to a Yes is to be objective with your fellow negotiator.  Try to avoid dirty tricks and to have an alternative in place in case the negotiation fails.

Ted.coms speaker Steve Jobs: How to live before you die

The story that most people tell about me might include a statement that I am a techie.  I have lived my life going after and purchasing the latest gadgets, and building the best computers I could manage.  This is why the TED.com post of a speech entitled "How to live before you die" given by Steve Jobs really impressed me.  Steve Jobs is an awesome demonstration of what we can achieve as individuals and professionals. In his 15-minute keynote address  in front of a graduating class at Stanford University Jobs describes his life in a candid and honest speech. Jobs talks about how he was able to achieve the creation of a large computer manufacturing company called Apple.  It is clear that life is going to be full of set backs and strides forward, but jobs tells the audience to Keep looking for what you love to do.  Love and loss are a part of the development of greatness.  When jobs co founded Apple he was on top of the world and accomplished the launch of something he loved.  By age 30 Jobs had a disagreement with someone he hired to help him run Apple and the board of trusties sided with the then CEO and fired Steve Jobs. Jobs soon realized that this was a blessing in disguise.  He went on to found two new very successful companies NEXT and Pixar.  Jobs soon found himself back working for Apple when NEXT, Jobs fledgling company, was bought by the struggling giant.  After all these setbacks Jobs turned it around and eventually turned Apple into the leading computer company in the world.

The main point of this speech is that we have to find what we love.  Don’t settle for anything less.  If you haven’t found that love keep looking, and live each day as if it where your last. 

Information source: http://www.ted.com/talks/steve_jobs_how_to_live_before_you_die.html

A look at the American Advertising Federation (AAF)

     Online video has brought about a new frontier for advertisers.  Advertising is a surefire way to generate revenue for your websites, magazines, and much more.  This business model guarantees that if you can show a potential advertiser their content will reach a large audience, the advertiser will be more than happy to compensate your company for these impressions. It demonstrates a nice return on their investment (ROI).

     Joining the American Advertising Federation (AAF)  is a “no Brainer” for web video content producers to join this organization.  The AAF is not only the largest, but also the oldest trade organization in the advertising community. The programs they have developed will keep your company informed about the newest practices in the advertising industry with proven practices for growing advertising income.

     The AAF has created a collective group of diverse advertising professionals sharing the goal.  The leading advertisers in the nation have joined this organizations network with nearly 20 local federations that represent the more than 40,000 ad professionals in the nation. This will bring the web video professionals together with advertisers yielding creative business solutions that will bring this profession in to the forefront.  The AAF is located in Washington, D.C.

     There are 200 AAF college chapters.  This represents close to 7000 student members.  Through the use of these college chapters AAF is fostering the welfare of these future advertising professionals by educating them on the latest trends in advertising. The AAF encourages the inclusion of a diverse membership by recruiting people from diverse backgrounds and cultures.

AAF Mission

The American Advertising Federation protects and promotes the well being of advertising. We accomplish this through a unique, nationally coordinated grassroots network of advertisers, agencies, media companies, local advertising clubs and college chapters. (1)

1 (information courtesy the AAF Website http://www.aaf.org/default.asp?id=24)