How do You Maintain The High?
Continuing with our theme from yesterday, is it wrong to chase the hits and the feeling of the high that comes from it? No, I don’t think so. In fact being ambitious and going for gold is an element of greatness. How you go about maintaining balance in these endeavors is the key to great business.
If you strive for the peaks with a solid foundation underneath you then each time you reach a peak you can readjust your foundation accordingly. If on the other hand, you do not build a foundation under you or your business, when you reach for the peak you may not be able to support it and in time when the inevitable trough hits the business can fold since there’s no foundation to keep it in place. With a solid foundation in place when the peaks and troughs inevitably come, you ride the waves rather than getting crushed by it.
So what is a sustainable foundation for a music management business? I’d say it’s simply embracing the great relationships you already have (both customers, vendors, and partners). As an artist business it is especially important to embrace your fans (customers). Whatever business you are in and whatever size your customer base is, it is a start. Each one is valueable and part of your foundation. Notice that “fan base” or “customer base” has the word base in it. Base is foundation.
As an example, there once was an artist who rode to decent heights with a Triple A radio hit, sold 100,000 copies of an album and toured to good sized crowds (a few hundred in most markets) across the country. 2 years later, the next album is released but this time with no radio hits. The artist goes on tour and sees 10-50 people in each market. Why? Because in between the releases no time was spent cultivating a relationship or creating the foundation.
The peaks can be great – you should go for greatness – but put at least as much energy into building the foundation so it can be there to support you when you inevitably come down.