Product And Artist Management: The Best Practices

From learning about the major effects of how to balance the needs of client and the customer, I have learned the importance of management within the industry. Its a source of organizing your presentation to potential investors and your audience. In terms of artists, you must be prepared to accurately pinpoint their wants and needs in order to mold their talent accordingly. As for product, you must be prepared for estimates of sales, expected revenue, unexpected emergencies, and other forms of knowledge that is critical in management. Between both product and artists, the 3 things that I have learned as far as management has to be: 1) proper negotiation, 2) the knowledge of who/what your managing, and 3) having a professional presentation.

1) Proper Negotiation - In the first assignment of this class, we were instructed to research Creedence Clearwater Revival and the issue of their mismanagement. This was a prime example of an artist trying to control a group of individuals that needed outside consulting on what they should do with their money and what contracts to sign. An outsider looking at this story can see that not only were their issues within the group but outside of the group in terms of their financial needs, there seemed to not be a middleman that would make sure business was properly conducted. Henceforth, the need for a manager that can be separate from the artistic process shows promise for smoother business deals and better long-term business relationships.

2) The Knowledge Of Who/What Your Managing - In the last wimba session for this class, we learned about how to prepare for sales, returns, and etc. In management, the balance of all expected situations noted will provide an estimated outcome that managers can expect. Furthermore, this should reflect that good managers will reflect issues that are relevant and applicable to their product when they are selling or making a presentation.

3) Having A Professional Presentation - The Def Jam video that showed former record executive Tina Davis gave some insight on the do's and don'ts of an artist's manager. The main importance that was stressed was the presentation. Not only is it within the packaging of a product, the manager needs to present a show of faith to what their client/artist has to offer. If the presentation is not in accordance with a professional level of confidence from the management, their ideas will not be taken seriously.

Source(s)

http://www.goodproductmanager.com/2010/02/23/realize-your-product-is-not-the-center-of-your-customers-worlds/