Meet the Rapreneur
“It’s not enough to be a recording artist in today’s music business, as an independent you are not just an artist, you are also an entrepreneur ~ whether you want to be or not” says Music Business Consultant, Jessica Lambert (@JessicaVibez).
Music Consultant Jessica Lambert says she has seen a vast increase over the years in the development of the Rapreneur; “so many people are called a Rapper, but in reality they are incredibly hard working, inspiring business owners who are also talented artists” says Jessica. In reflection, Jessica notes, that you will see today’s Rapreneur building teams, starting clothing lines, opening studios, managing their own tours and events, understanding tech and analytics, engaging with fans, staffing the business, running payroll, networking, and taking on more than a lot of business owners without a bank loan, big team, or even the education and business guidance one needs when running what could become a multi-million dollar operation. This is exactly why Jessica created Platinum Indie, to help these business leaders find their way to success quicker and more efficiently, and to help them scale level to level and maintain relevance when they reach their goals.
Rappers and musicians, in general, need to possess certain business skills in order to be successful. While it is true that a rapper’s talent and creativity are critical to their success, business skills can help them make more money and manage their finances better.
One of the most important business skills for rappers to have is understanding the many components to building a viable music business in today’s market. Music entrepreneurs must create quality music (product), to understand their brand as an artist, and as a label if applicable; they must also be able to to identify who their fans are, connect with them authentically, and learn how to turn those important relationships into consistent and scalable profit.
These days artists either have to be a jack of all trades, or learn the skills needed to engage the right team members and build a music business that doesn’t just make music, but that also makes sense….and dollars!
Another important business skill for rappers is marketing. In today’s highly competitive music industry, marketing is critical to success. Rappers need to be able to create a brand and promote themselves effectively in order to build a loyal fanbase and generate income through merchandise sales, concert tickets, and other revenue streams.
Finally, a commitment to ongoing learning, understanding the music industry and how that impacts your role within it, and having negotiation skills are all important for rappers. Being able to understand what you want from a deal, and why, because you took the time to educate yourself and understand what is reasonable in today’s music market, is critical to being able to negotiate favorable contracts with record labels, promoters, and other business partners can ensure that they are compensated fairly for their work and that they retain control over their creative output.
In conclusion, while talent and creativity are essential for rappers to succeed in the music industry, possessing strong business skills, or a consultant or team member who does, can help rappers and other recording artists to maximize their earnings and build a successful and sustainable career.
By Jessica Lambert, Music Business Consultant