5 Steps to Build Your Music Industry Advisory Board

Written by Daisie Team

Published on 18 July 2023 7 min read

Let's talk about building a personal advisory board in the music business. Whether you're an artist, a producer, or a manager, having an advisory board can be a game-changer. This board, made up of experienced professionals in your field, can provide insights, advice, and connections that can help propel your career forward. Here's a practical guide on how to create your own music industry advisory board in five clear steps.

1. Identify Your Needs

Before you can start building your advisory board, you need to identify your specific needs. This initial stage lays the groundwork for the entire process and ensures that you're strategic about who you invite to your board. Let's break this down further.

Assess the Market

Start by taking a close look at the music market. Understand the trends, the challenges, and the opportunities that currently exist in the industry. For instance, the rise of music streaming is a major trend that's shaping the industry. On the flip side, it's also a challenge because it's changing the way artists earn money from their music. Knowing these things will help you understand the kind of advice and expertise you'll need from your board.

List Your Requirements

Next, list down what you need from your advisory board. If you're a new artist, for example, you may need advice on how to navigate record deals or how to build a strong fanbase. If you're a producer, you might need insights on how to improve your music production skills or how to manage artists effectively. Clearly defining these requirements will make it easier for you to find the right advisors.

Set Your Goals

Finally, set clear, achievable goals for your advisory board. This could be anything from helping you secure a record deal to guiding you in launching your first album. Remember, these goals should align with your overall career objectives. By setting your goals early on, you give potential advisors a clear picture of what they can help you achieve, making your proposition more attractive to them.

By the end of this stage, you should have a clear understanding of what you need from your advisory board — a crucial step towards building a personal advisory board in the music business that works for you.

2. Search for Advisors

Now that you've identified your needs and set your goals, the next step is to find people who can help you meet them. Searching for advisors can be a daunting task, especially if you're new to the industry. But with a little bit of strategy and a lot of persistence, you'll find the right people to help guide your music career. Let's take a closer look.

Create a Target List

Start by creating a list of potential advisors. Consider people who have the experience, skills, and connections that align with your needs. This could include successful artists, music executives, producers, or even entertainment lawyers. For instance, if you're an artist trying to break into the pop scene, you might want to include someone like Max Martin, the famed pop music producer, to your target list.

Network and Connect

Once you've got your list, it's time to start networking. Attend industry events, join music forums, or use social media platforms like LinkedIn to connect with potential advisors. Remember, networking is not just about asking for help — it's also about building relationships. Show genuine interest in the people you meet, and look for ways to offer value to them as well. This will make them more likely to want to help you in return.

Reach Out to Potential Advisors

Finally, reach out to the people on your target list. This could be via email, a phone call, or even a face-to-face meeting. When reaching out, be clear about why you're interested in them specifically, and what you hope they can bring to your advisory board. Remember to be respectful of their time, and don't be discouraged if some people say no — building a personal advisory board in the music business is a process, and it's okay to take your time to find the right fit.

By the end of this step, you should have a list of potential advisors who are interested in helping you navigate your music career. It's a big step forward towards building an advisory board that's tailored to your needs.

3. Evaluate Potential Advisors

The next step in building a personal advisory board in the music business is evaluating your potential advisors. This doesn't mean judging them — rather, it's about determining whether they're the right fit for your career goals and your personal working style.

Review Their Credentials

Start by reviewing their credentials. Look at their professional experience, their achievements in the music industry, and the artists or businesses they've worked with. For example, if you're a country artist, you might want an advisor who has a successful track record in the country music scene, like Scott Borchetta, the founder of Big Machine Label Group.

Conduct Interviews

Next, conduct interviews with your potential advisors. This can be an informal chat over coffee or a more formal meeting. The goal is to get to know them better, understand their approach to the music business, and see if there's a good rapport between you. Ask questions about their experience, their thoughts on your music career, and how they see their role as an advisor. Remember, this is not a one-way street — they should be just as interested in you as you are in them.

Check References

Finally, don't forget to check references. Reach out to people they've worked with in the past to get a sense of their work style, reliability, and effectiveness as an advisor. This could be former advisees, colleagues, or even artists they've worked with. And remember, while a good reference can be a positive sign, a less-than-stellar one doesn't necessarily mean they're not the right advisor for you. Everyone has different working styles, and what didn't work for one person might work perfectly for you.

This step is crucial in ensuring that your advisory board will be a helpful, effective resource for your music career. By the end of it, you should have a strong sense of who your advisors will be and how they can help you achieve your goals in the music industry.

4. Establish the Board

So, you've found some amazing people who you think will make great advisors. What's next? It's time to officially set up your advisory board. This step involves making offers, setting terms, and formalizing agreements. Let's dive in.

Make the Offer

Start by making a formal offer to each potential advisor. This can be as simple as a phone call or an email, or as formal as a written invitation. Make sure you clearly communicate what you're asking of them — for example, if you want them to meet with you once a month, listen to your new tracks, or be available for quick phone consultations. Be clear about what you want, but also be flexible — these are busy people, and they'll appreciate your understanding.

Set the Terms

Next, you'll need to set the terms of the advisory relationship. This can include anything from how often you'll meet, what kind of advice you're looking for, and even compensation. Yes, you heard right: while many advisors in the music business are happy to help for free, some may request a small fee or a share of your royalties. This isn't out of greed, but rather to ensure that they're invested in your success. So don't be taken aback if the topic of compensation comes up — just make sure you're comfortable with the terms before you agree.

Formalize the Agreement

Finally, once you've agreed on terms, it's time to formalize the agreement. This doesn't have to be a legally binding contract (although it can be), but it should at least be a written document that clearly outlines the expectations and responsibilities of both parties. This can be a simple letter or email, or a more detailed contract. The important thing is that both you and your advisor feel comfortable with the agreement, and that you both sign off on it. That way, there's no confusion down the line.

And with that, congratulations! You've just taken a huge step in building a personal advisory board in the music business. Your board is established, and you're ready to start benefiting from their experience and advice. But remember, setting up the board is just the beginning — maintaining it is just as important. But we'll get to that next.

5. Maintain the Board

Now that you've got your advisory board up and running, you need to maintain it. This is an ongoing phase that involves regular meetings, clear communication, and evaluating performance. Let's take a closer look at each of these elements.

Set Regular Meetings

First things first: set up regular meetings. This could be once a month, once a quarter, or even just twice a year — whatever works best for you and your advisors. These meetings are a chance for you to update your advisors on your progress, ask for advice, and get their feedback on your music. They're also a great opportunity for your advisors to get to know each other and build relationships. So make them a priority, schedule them in advance, and stick to the schedule as best you can.

Provide Clear Communication

Next up: communication. This is key in any relationship, but especially in one where you're relying on others for advice and guidance. Keep your advisors in the loop about what's happening in your career, any challenges you're facing, and any successes you've had. Don't be afraid to ask for help when you need it, and be open to their feedback — even if it's not always what you want to hear. Also, remember to show your appreciation for their time and advice. A simple thank you goes a long way.

Evaluate Performance

Last but certainly not least, don't forget to evaluate the performance of your advisory board. This isn't about grading them or finding fault, but rather about making sure that the relationship is still working for both of you. Are you getting the advice and support you need? Are they still interested and engaged in your career? If not, it might be time to have a conversation about how you can improve the relationship — or whether it's time to part ways. Remember, building a personal advisory board in the music business is all about finding people who can help you succeed. So don't settle for less.

There you have it: the five key steps to building a personal advisory board in the music business. Remember, this is an ongoing process, so don't rush it. Take your time, be deliberate, and most importantly, have fun with it. Because with the right advisory board, the sky's the limit.

If you're looking to build your music industry advisory board, don't miss the workshop 'Industry Insights: Starting Your Music Career' by Aria Jay. This workshop offers valuable insights and advice on how to navigate the music industry, helping you take the right steps towards building a strong and supportive advisory board.