4. KNOW WHAT TO DO WHEN YOU GET AN OFFER

The long journey to the Promised Land is finally coming to an end: you've gotten an offer from a record label! You've done the research and they seem like an organization you would be happy to be a part of. Not so fast . . . once you get the offer, there are still several things you need to consider:

  1. Get yourself a good entertainment lawyer. This cannot be stressed enough - he/she will be your best friend, confidant, and advisor through what is bound to be a complicated and arduous process. Entertainment lawyers tend to be very expensive, anywhere from $75 - $400 an hour, but they are worth every last penny of it. The terms of a record contract can vary widely, so rely on your lawyer to translate the legalese into English so you can fully understand what you are getting yourself into. You don't want to trap yourself into something you hate.

  2. Make sure you have a good idea of what you want out of a record deal and where you would like to go with your career. There are many pitfalls for a band, particularly a new/small band, when signing a record deal. How many albums do you want to release on the label? How much money/royalties can you demand from the label? How large should your advance be? How does this affect future royalty payments? Who owns the copyrights to the songs? The list of debatable items could go on for a mile. Talk with your lawyer about all of the options and make an educated and informed decision. After all, this is your career.

  3. Pick up a copy of This Business of Music. While about as entertaining to read as a chemistry textbook, it is an outstanding resource for learning the business and legal side of the music industry.

Even though the process of getting signed to a record deal can be difficult, the prospect of being able to make a living as a professional musician is often too good to pass up. While good looks and some catchy tunes probably wouldn't hurt, you now have a huge edge over all those morons who are sending out 10-page bios. And hey, if all else fails, there's always the Army.