Essentials of Goal Setting

1. An action plan. You must have career goals, which will help you determine if you are making progress. The music business can be a very tough nut to crack, especially if you have no sense of direction. Many record companies, music publishers, managers, producers, entertainment lawyers, and even booking agents would not work with artistes who have not set any real career goals. They tend to prefer working with musicians who already have their career goals clearly established and are diligently working towards them on their own.

2. Be specific. Before you set out to achieve your goals, you have to know what you really want. Do you have a clear idea of what you are going after? Detailed and clear goals, for example, are selling 10,000 units of your album, playing 15 gigs a month and making at least 500,000 bulks in the first quarter of next year. Such goals help you maintain your focus and keep you on track.

3. Write them down. Do not keep your goals in your head. Put ink to paper. Writing down your goals adds another element of conviction to your intention.

4. Set a deadline. Deadlines have a way of motivating us to act. Set a time limit for achieving each stage of your action plan. Then do whatever it takes to meet those deadlines.

5. Make a list of benefits. You need to answer this question: What is in it for me? From your answer you can compile a list of ways you will benefit from achieving the goal (or goals). When you have a goal that is fuelled by a genuine desire and true belief in your ability to attain it and enjoy the benefits, you will be energized and ready to take on the challenges.

6. Anticipate the obstacles. Make no mistake; there will be bumps along the road. Things can go wrong, people may disappoint you and schedules move slower than you expect. Do not let anything stop you! Try to consider before hand some of the difficulties you will face and then imagine how you will deal with them effectively.

7. Identify all the information, people and organizations that can help you achieve your goal. Start gathering data on the people, places and information sources you will most likely need. Some of these are clubs, churches, agents, radio stations, magazines, graphic artists, producers, etc. You cannot do it on your own. Remember, it is a business involving people and timely information which enables you to achieve your goal faster.

8. Create your action plan. Now write your first draft of your action plan. Start with the goal itself and work backwards through the process. Keep breaking every stage of the plan down into its most basic tasks such as phone calls, packages to be mailed, booking studio time, setting up meetings, writing songs, etc. Then make a short list of your priorities, which are the things that have to be done first following basic, attainable steps.

9. Act now! Finally, and most importantly, you have to work on the plan you have created. A lot of great ideas have sadly withered away because the person who came up with them never took action. Do not let this be your fate. Putting the art and craft of goal setting to work fires your desire and boosts your abilities to get what you want from life immensely. 

(this is an extract from the Musician's Handbook written by Femi Oyewunmi)

Time and Financial Management

What are your VALUES? This is the starting point to an effective time and financial management. Your values will determine a lot about your decision-making. Values are your guiding principles in life. Without them you will be tosses to and fro.

Financial Management

First step to a good Financial Management plan is to be Financially literate. Which means that you have to have a good knowledge about financial matters and related topics.

Financial Knowledge = financial Freedom.

Positive Financial Habits, The way to become wealthy.

Commit to Excellence Change your Thinking about wealthy Pay yourself first.

Save 10% of your earnings as wealth building capital.

Write down your expenses. As you spend money, record every expenses & purchases in a notebook.

Avoid credit purchases.

Avoid going into dept for consumables, food, entertainment, transportation, & gifts.

Wait two weeks for major purchases.If you still want it, get it, but avoid impulse buys.

Live well below your means.

Review all bills & statements for errors.

Set a time limit on your phone calls most especially long distance calls.

Read one money-related newspaper article per day.

Make giving, saving and investing your most important financial priorities.

Make retirement savings your top financial priority.

You are not what you buy. You are not what you drive.

Financial independence is up to you- not your parents, your government, or your employer etc.

Rainy days are inevitable.Prepare for them.

Money does not grow on trees, nor does it come from ATM’s. Someone works hard for it.

Take good care of your health.

Learn to use your four powerful friends: priority, tax-advantaged savings, equity investing and compounding.

Avoid extremes in investing and insurance.

Keep your records in order.

Make the most of what you have… to make the most of the rest of your life.

The future is now, not someday.

Invest at least 10% of your income every month on personal & professional development.

“Don’t lose money.”

Money is created in four (4) ways: (1) I work. (2) Others work (management) (3) Money works (Investments). (4) Ideas work.

Start where you are Today.