There are many artists, especially in the arts and music, for whom self-management of their careers is also ideal because they want to be encouraged to take substantial personal control Through their careers. But can they do it? Let us look at the advantages and disadvantages they may encounter.
- Advantages of artist management of their business
- The challenges they will face
Self-sufficiency: Decisions about the tour schedule, songs, and works to be performed are entirely in the hands of the artists and do not depend on outside management.
Home economics: Self-management gives artists control over the resources they use and the profits they make, which in turn reduces the cost of friction caused by managers and other middlemen.
Intimate connections: Self-management also means that artists can connect with fans and other industry players without the constraints of third-party managers
Lack of management skills: For example, artists without business management skills in marketing, financial management, and negotiation may make poor decisions.
Time-consuming: Pursuing a career path is not easy, it requires time and skills, and artists may find it difficult to transition from artistic to administrative roles.
Market development: For example, if an artist is faced with international expansion, it is difficult to grow the business without non-core skills and resources.
