Most people imagine that the task of managing a music production company is vastly different from that of managing any other type of company. My experience has, however, been quite different. Granted, the music industry is unique in some ways – but then again, every industry has its own unique features. But in my experience, after appreciating (and making provisions for) those unique features of the music industry, the task of managing a music production company ends up being more or less like the task of managing any other type of company. Therefore the keys to success in managing a music production company are, more or less, akin to the keys to success in managing any other type of company. And those keys — the main ones at least — are only two in number.
The first key to success in managing a music production company is in ensuring that you have the right systems in place. Have you ever wondered how companies like Gap (whose credit card holder’s online service site is eService.gap.com) manage to maintain efficiency, in spite of their vast sizes? The answer is systems: they have proper systems in place.
The second key to success in managing a music production company is in ensuring that you have employed and deployed the right people to the right roles. You may have the right systems in place, but you need people who, at the very least, have a basic degree of competency to implement the systems. If, for instance, you are setting up a music promotion or a music composition committee, you need to ensure that the people in the committee are reasonably competent. It is easy to talk about ‘systems’ being the key to success: but you also have to remember that, in the first place, you will probably need the help of people who really know what they are doing, to craft the systems.