Musicians Need to be Business People Too

It is not enough these days to be just a musician. It is also necessary to know something about business. You don't need to have an MBA but you do need some common sense around the topic.
Since I retired and got back into music, I have been shocked to find that venues are only paying about $25 more than they did when I first got out of college and started to sing in my twenties. I am now in my 70s so that will tell you how little the industry has kept up with inflation. I don't blame the venues however, I put the responsibility for this on the musicians. I have found that musicians are willing to take less than they deserve just to get the gig. This is not only bad business for them but also for their fellow musicians. When you lower your own rates it lowers the rates for everyone. It might seem smart in the short run but in the long run it is a very stupid business practice. It is difficult enough to make money in the music business without having musicians undercutting what little pay is being offered. Why should a venue pay a fair price when they know they can get one of your fellow musicians for cheaper?

The other thing that amazes me is that musicians, when they are being paid a percentage of the door but are being offered a guarantee of a certain amount, do little or nothing to get their fans into the room. When I am booking a large venue and tickets are being sold, I want to do everything to promote the event so that we make money. The love of music is not the only reason I play music. I also play to earn money. If you are being offered 80% of the door at a venue that seats 100 people with tickets being sold at $20 each and a guarantee of $100 what would you do? I would hope you would promote promote, promote and get as many of those seats filled as possible. Are you going to walk away with just $100 when you could take home $400 or more? As far as I can see it is a pretty easy shift from bad business to good business but it is a matter of self worth.