When starting a business there are two main options to consider. 1. Start with a small investment and work your way forward with very little risk involved. 2. Start with a large investment and hope that the return will pay off in time. I have always been somebody who takes risks but I don’t play roulette. I enjoy knowing that the outcome of a project will be success if all angles are covered and you dedicate yourself to it. A lot of people see business the wrong way. The concept of developing a company is to be successful and profitable while maintaining a good work ethic. I was approached a little while ago by a college graduate wanting me to invest into a project he wanted to get off of the ground. During his proposal to me he started explaining the figures, salaries, and start up expenses. To me it seemed completely outlandish. His goal was to develop a million dollar studio with very little experience or clientele to get the company on track. He started going into what he’d like his salary to be, how he’d like to work the initial investment, the ownership percentages we would acquire and many other details of the business. I explained the rule of thumb that I’ve stood by for years in my business and in anything I am involved with. You are coming to me with nothing on the table but hopes. Your goal and dream is to develop a structured studio and record national recording artists directly out of college in a million dollar studio infrastructure. Not only is the experience not there but the fact that you’d dig a million dollar grave with hopes to rise from it is a bit difficult in the entertainment industry today. I always encourage anybody trying to achieve success to be patient. Start at a small scale and work your way to the dream that you have. Do not use other peoples money to obtain a shortcut to the goals and ambitions you’ve set forth. It is a lot harder to get out of the ditch you’re digging rather than to start small and maintain a consistent growth pattern towards success.
