As the CEO of an independent record label, SHP Records, I have many responsibilities. In these times when the music business is hurting, we have to work twice as hard for half the money.
I’m often asked for general business advice, as a CEO, I can offer some basic business advice that can apply to your life, no matter what your pursuit:
Surround yourself with people smarter than you.
If you have good ideas and you surround yourself with good, competent people, your life will be easier, whether you are a CEO, in a band, or an employee. In all my years in business, this is probably the best advice I can offer to others. Surrounding yourself with the right people will help propel your ideas forward and create new ideas and directions you may never have even considered.
Work harder than everyone else around you.
Want to know how to impress your boss? Work hard. Be the first one in the office and the last one to leave. Same thing if you are in a band. Try to be even more prepared than your bandmates. Arrive at rehearsal first, leave last. This is especially important if you are the CEO or leader of an organization, you set the tone.
Always hire professionals
If you break your arm, do you try to fix it yourself? No, you call the best doctor you can. Use the same logic for your business. If you have legal issues, don’t try to handle them yourself, don’t try to find free legal advice, find the best professional lawyer who specializes in that field and contact them. For your taxes, do not try to do them yourself or via an online program. Find a qualified, experienced CPA who works with your type of business or personal situation.
Think like the other guy
In a business negotiation, friendly or in a dispute, put yourself in the mind of your opponent.. If you are planning advertising or promotion, think like your potential audience and how you would react to the ad if you saw it. It will always help you achieve the results you desire, or at least understand why you aren’t.
Treat everyone equally
Treat the guy the cleans the restrooms the same way you treat your top executives. Treat your customer who buys a few dollars of merchandise the same way you treat the high dollar clients. Treat the waiter at a restaurant with the same warmth and respect you do the owner of the establishment.