THE ARTIST: Anonymous
THE QUESTION: I have a situation on my hands that I really could use some advice on. A co-owner of a new local company came to a gig of ours last night. He said he still had to talk with his partner but said he was interested in us. First question is how often does any company find interest in a mediocre cover band. Is this a red flag? I cant find any record of this company online. Another flag? He said he signs one year contracts and was okay with having my own lawyers look at it before signing. I’m not sure my guys are ready for this yet, and we’ve only been playing together a year and only have 6 half-finished originals. If I don’t feel ready and tell him so, would it be foolish to tell him we would let him know when we feel ready or should i consider that bridge burned? I appreciate any thoughts or advice and thanks for your great pages!
THE ANSWER: Hey reader. This is a really great question! I’m sure there are a few others who have found themselves in the boat of not knowing who they can trust. Here are my thoughts.
Step 1: Think about your band first
Eliminate this business-man from the equation. Pretend he’s not even there and ask yourself these questions. In the event that someone where to come along…
- Do you feel like your band is ready to be signed?
- Are your songs developed enough?
- Do you feel comfortable as a band…or are you just 4 random people playing music together?
- Are you prepared for what it means to be signed? Things will change when someone else is in charge.
- Have you guys talked out what potentially being signed would look like for you?
- What is it that you’re looking for in a management deal?
- Did this guy have/give you a business card?
- Did his company have a name?
- Did the company have a website?
- Has he worked with other artists? Who?
Step 4: Pause
You should never feel pressured to give anyone an immediate response. If he tells you something worth sitting on for a few days, let him know you need to talk it over with your bandmates to see if you’re all on the same page with him. He should respectfully give you that space. If he doesn’t, then that’s another clue that he might not be the “right” person.
Should you consider the bridge burned if you decide to pass at the moment? I’m not sure. Honestly, I wouldn’t stress about it. Something better will come along…most likely that will involve your band becoming better at managing itself as the months/years go by.
Just remember…don’t jump into anything!