5 Tips for Musicians to Become Entrepreneurs | Music Business | Panos Panay

Panos Panay talks with Berklee Online’s Leah Waldo about why musicians make great entrepreneurs. He describes entrepreneurship as a state of mind and a willingness to be creative. Panay says the most important considerations of successful entrepreneurship align with the most successful considerations of being a successful performing musician: thinking about the audience and competitors, listening to your instincts with respect to who you collaborate with, thinking quickly and improvisationally, being able to put on a believable performance, and perhaps most importantly, failure can be an important part of the learning journey.

About Panos Panay:
Panos Panay is the Vice President for Innovation and Strategy at Berklee College of Music, the Managing Director of the Berklee Institute for Creative Entrepreneurship (BerkleeICE) and a passionate entrepreneur, educator and startup mentor. As the founder of Sonicbids, he created the leading platform for bands to book gigs and market themselves online, building a subscriber network of 550,000 bands and 35,000 promoters from more than 100 countries. He led the company as CEO for 13 years, from its inception until after its successful acquisition in a deal backed by Guggenheim Partners. Panay is also the co-founder of the Open Music Initiative, which has brought together more than 140 leading music, media, technology industry organizations and academic institutions to create a blockchain-based open protocol for uniform identification of musical rights owners and creators.

About Berklee Online:
Berklee Online is the continuing education division of Berklee College of Music, delivering online access to Berklee's acclaimed curriculum from anywhere in the world, offering online courses, certificate programs, and degree programs. Contact an Academic Advisor today:
1-866-BERKLEE (US)
1-617-747-2146 (international callers)

Panos Panay | Sonicbids | Music Entrepreneurship | Music Promotion | Music Business | Blockchain | Berklee | Berklee Online | Berklee College of Music | Berklee Institute for Creative Entrepreneurship | BerkleeICE | Open Music Initiative

[simoneleitaoofficial]

Great tips! I absolutely agree! When I first started my series with youth orchestra academy and a chamber music festival, I felt I just had to listen to potential sponsors, just the way I listened to the violin in my duo. 12 years and multiple 7 figures in sponsorship and 100s of concerts later, I testify that continues to work time and again.

[iamnolan]

The life isn't about being a perfect business plan resonates

[SpeakingMusiconline]

Thank you, I enjoyed this video. Really liked the definition of entrepreneurship "a state of mind and a bias towards action"

[sandybradshaw]

A good friend and I had a very heated debate because he dictated that I should choose between being a musician performing and being a Business Manager. While I agree with getting a team around me to lead in various areas of business I believe I must have oversight of the business.

I see how that combination worked for NIPSY Hussel! I also observed how as great a musician that Miles Davis was, he lost financially because he didn’t have oversight of the business aspect of his music.

[AnthonyCarrier]

I remember the first time getting on stage...Hmmm I still dream of the do-over 20 years later...!

[richardmolina]

Who does this only have 702 likes!!?

part about hyper sensitivity resonated with me sooo much.

The whole vibing with 2-3 ppl and just all being unique.

And presenting a new reality in stage.

[TaiwoBamisile]

The analogy of the gardener and the understanding of collaborative motion was a take home for me.

[akooru]

awesome content, probably a bit too advanced for some but they'll get it one day...

[bboymac]

His words were right on! I learned so much!

[rafaelatugores]

Thanks so much to your help :) I am so glad to see your option

[sundragonrecords]

Sun Dragon thanks you. Learning as much as possible is important to me. Your perspective ia appreciated.

[basskraz]

thank you for this, very supportive :)

[adamkomusic]

nice interview and very cool outro song!

[davidfreyre]

good info by why is he flexing his muscles and has a tight fist? :)