datamusicata

Years ago, I signed with Wooden Nickel Records, a subsidiary of RCA, that was owned by jointly by four people, one of whom was Jerry Weintraub.    .  Jerry has since gone on to be a very successful movie producer but at the time was very much a powerful artist manager.

When I signed with the label, they suggested that I go with Jerry for personal management and as there was no one else lined up for the job in my particular queue, it seemed like a good idea.

I remember someone telling me that the manager took a percentage of your entire earnings right off the top, and that the percentages varied from as little as 5 percent to whatever.

I decided that no manager should get more than ten percent and it should only be levied against earnings that were created by the manager.  

That seemed reasonable and fair to me, and actually does seem fair and reasonable to me today, though I no longer abide by what I think is fair and reasonable in the entertainment business.

You cut whatever deal you can and you live up to your end totally.    And if the deal is a really bad one, you get out of it legally as soon as you can.

So I went into negotiations with Jerry and came out with a contract that guaranteed me a minimum of $250,000 within the three years of the signing or the contract was null and void.

And he agreed to take only ten percent of my earnings, which I thought was a brilliant move on my part.   I had gotten Jerry Weintraub for only ten percent.   What a clever guy!   What a negotiator!

What I didn’t know then was that  another one of his singer songwriter clients, one John Denver, had gone to Jerry and offered to be his partner 50/50 if Jerry would help him promote what he thought was a hit song that John had recorded called “Take Me Home Country Roads”.

To my knowledge, Jerry accepted the offer and they became partners, so that everytime John earned a dollar, Jerry got half of it.

Now think about this.  You have several clients.  One of whom isn’t famous and from whom you earn ten percent of his meager income.   Another of  your clients is already slightly famous, earns a lot more already and you get half of what that client earns.

Who are you going to put up for every important or money gig that comes along?   Who are you going to push and pump and make happen as best you can?   Ten percent of a dime or fifty percent of a dollar.    

It’s pretty obvious.    So here’s today’s lesson.   

You must be willing to have other people earn respectable amounts of money helping you.   Life isn’t a charity and show biz is even less of a charity than that.

I’ll say it again.   You must be willing to let other people earn money from your efforts.   

No matter how painful you think it is, it’s not as painful as watching someone else eclipse you when you think you have the goods.

Think about it.