Have you ever wondered what your life would be like if you spent your working hours with people who are determined to be successful artists? Do you enjoy helping struggling artists find their place in the entertainment business and seeing them rise to the top of their craft? If so, you could have a bright career in managing artists.
Not everyone has the guts to deal with this kind of work because you have to be flexible all day and all night due to the schedule you have to meet. But if you think you are right for this work, you can use these steps as your guidelines in taking the path of this profession.
- Legal Matters: You should have your managerial contract, which can be drawn from a template from an online source. Or, you can also have your own attorney to ask for a draft of the contract. You should include there the level of your authorization on how will you cover your artists, responsibilities of licensing, and the rights of the artists, including their appearance and image. Also you should indicate you will be managing exclusively an artist or if you can still manage to work with other artists.
- Gray areas: Ask again your attorney to draft another agreement but this time it will cover the gray areas that your contract did not cover. Your day to day responsibilities will be also included here, as well as your client-manager relationship. It will also involve the extent of your decisions as well as the personal matters of your clients.
- Negotiation: You should also include the terms and length of the renegotiation of the job description and your contract. The experts from the contract law prefer the shorter contracts for about three to four months so you can update the documents of two parties at the same time.
- Compensation Requirements: Misunderstandings may arise so you should stipulate the compensation. Basically, managers are given commission by the artists. For example, it can be twenty percent of the net proceeds or ten percent of the gross proceeds. But before deciding on the percentage, you should know first the standard payment rates in your industry. Also, you should stipulate the expenses that can be reimbursed if you travel on behalf of your artist.
- Separation Agreement: You should also make a separation agreement because the new relationship can be very hard. Sometimes, these relationships can cross beyond the ethical, philosophical, and moral standards.
- Expansion: Once your relationship with your first client or artist is cemented, you can also expand your business, because you are able to handle the things you need to do. You can also consider hiring junior staff managers for you to free up your time. Also look at your financials and commissions before deciding if you are going to rent an office.
A stable relationship with your artists can be one of the key to your success. Also, start building connections with other artists, because they will also be the ones who will advertise or promote you to others. Treat your clients like your long time partners if you wish to be an artist manager for the rest of your life.