4 Unspoken Rules and Roles To Successfully “Break Out”: 4 The Manager
A good manager has the ability to take your career to the level of your dreams. A bad manager will rob you blind and smile in your face. Choosing the correct manager for your needs is imperative.
Two types of Managers you will need.
1. Business Management - This is usually a Certified Accountant to help with your financial career.
2. Artist Management - This manager only focus is on your Entertainment Career.
A managers responsibility is to sit down and map out a plan for you to succeed. This process should be in stages and each stage will be outlined as to what you should do and what managers should do. You both will be working as a team to bring your dreams to reality.
These are the professional skills you are looking for in a manager.
• Music business experience
• Record industry contacts
• Record production process
• Music publishing
• Music licensing and performing rights
• Tour planning
• Schedule management
• Organizational skills
• Verbal communication
The so-called industry standard is twenty percent compensation for managers. I say so-called because it is not written in stone. I have witnessed various compensation based on the skill of the manager and how much work it takes to build the artist.
In addition, the needs of the artists can raise a managers percentage. A new artist with no name and no experience will find it hard to get the resources needed to succeed. An experienced manager with resources who believes in the artist will work with them for a higher percentage. However, as their career flourishes the percentage is decreased. This should be stated and mapped out in the stages of your agreement. I have seen contracts that start off with sixty percent and decreased over the artist's stage of success.
Managers are not required to pay for your expenses. If they do, believe me, they will recoup that money and it will be with interest as stated in the agreement.
Power of Attorney:
If a manager states that they need a power of attorney, seek your lawyer and have them evaluate it and rewrite it to protect you. I see very little reason for a manager to seek that. In most instances, it may be viable as in your business manager paying bills for you or assisting in creating credit. However, you need to make sure that there is a clause to protect you in any situation.
Artist, producers, and the like must keep a close eye on their team and not be lazy and careless in their decisions.