Does your band have an agreement? You know, something written down that simulates a business plan or a constitution, or maybe even resembles your last will and testament? A written agreement may seem pretty formal, but if thought through, documents can save a band a lot of heartache down the road.
Your songs, your recordings, your live performance and your marketing efforts (pictures, video, graphics, web presence, etc) are all part of the product. When you are thinking about rearranging the configuration of the band or dress code, or what the stage plot is going to look like – these are all product decisions.
Are you on the road to constant improvement, or perhaps struggling just to get few less blurry pics out on the web? Product decisions can make or break a band. There better be a formal process in place and hopefully decisions are being made like a business.
Now don’t fall down here…there’s no reason an original band can’t get paid for their efforts. And it doesn’t need to be in the form of food, drinks and token gas money either. Players should get paid if they are doing their job well. And any band should be compensated if they are actually entertaining. Beyond that, there’s a bunch of tax stuff to think about too.
Who gets to keep the bus if the band breaks up?
And what about exit strategies?