A few months ago, lead singer Damian Kulash of OK Go wrote a piece for the Wall Street Journal about the changing state of the music business. Can you learn from his band’s strategies? Hell, yeah…
Their World is Just Like Your World: “For several decades, though, from about World War II until sometime in the last 10 years, the recording industry…” “Then came the Internet, and in less than a decade, that system fell.” Substitute your industry name for theirs and these sentences describe the sea-change you’re still experiencing.
Their Challenge/Opportunity is Your Challenge/Opportunity: Read the following, again changing industry names… “Music is getting harder to define again. It’s becoming more of an experience and less of an object. Without records as clearly delineated receptacles of value, last century’s rules—both industrial and creative—are out the window. For those who can find an audience or a paycheck outside the traditional system, this can mean blessed freedom from the music industry’s gatekeepers.” Sound familiar? It should. The massive changes you are experiencing also mean opportunities, if you’re ready to go for them.
Three Quick Tips:
1. You Are Your Brand: Everything you do creates or destroys your own brand image. See yourself as a brand. What do you stand for? How can you get that across in EVERYTHING you do?
2. Revenue Comes from Multiple Streams: If you are still dependent on just one paycheck, you’re dead career-wise. Every employee on the planet should have at least one, possibly several, entrepreneurial revenue streams.
3. Marketing Matters… Free is the New Path to Being Well-Paid: OK Go is most famous for its YouTube creations. But does that make money for them? “The quick answer is yes,” says Kulash. More important than record sales is the other revenue opportunities that their videos created for them. Same thing applies to you. For the rest of your career, you must be giving things away for free — research, presentations, advice, time, etc. — as a way of marketing for your NEXT job and additional opportunities for personal growth, compensation and more.