SCHOOL OF MUSIC - MUSIC BUSINESS LAW OF PERCEIVED VALUE

SCHOOL OF MUSIC ::: MUSIC BUSINESS: LAW OF PERCEIVED VALUE.

In part one of this article titled "law of perceived value", I mentioned that this law has two very key music functions; first is that it is one of the laws that govern the making of hit songs and I also said it is one of the principles that music Business thrives on.. if you haven't read part one of this article then click on this link below to read it.
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In part one, I addressed its function as a tool for creating hit songs and in this article I will be sharing how this law drives music business. Let me quickly establish a few foundation here about business generally so that we can have a better understanding of what music Business really is. Whenever business is mentioned, everyone's mind goes to MONEY first. This is the major reason why many people find the term business for gospel music carnal. It is because of ignorance.

Business is not about money but everyone who follow the principles of business will make money. If business was about money, then everyone in business will have money but that's not the case. Business is about VALUE. Read that again, BUSINESS is about VALUE. Those who sell value, make the money. Money is simply an exchange of VALUE. People don't necessarily buy product, they buy VALUE. In part one of this article I explained that Value is perception. So if people buy value and exchange money for value, what it simply means is that they are actually paying for perceived value.

For example, you went to the market to buy banana, when you get there, you find five women selling bananas in five trays. You looked at all the five bananas and finally chose one. What happened is that you paid for the banana you think is worth your money otherwise, you could have just paid for the very first banana you saw instead of checking all other ones. You paid for perceived value.

If business is based on value, then those who sell perceived value will make the most money. Selling perceived value simply means that you are selling what the people need and love. Now apply this to music. When your music is what your audience need and they love your music, money will pursue you. Listen to me very well. Charging money to come and minister is not Music Business. Charging money for concert is not Music Business. Music business is creating strong perceived value that attracts money to you. The reason anyone should pay to have you is because they perceived you valuable. The reason anyone would pay for your concert is because of perceived value.

If you operate the law of perceived value for music business, people will beg you to exchange money for your value. That your church that manage to pay you 50k salary as a music director, is begging EBEN for 500k to come and minister for 10 minutes. If you have to force and beg people to pay you to come and minister then you have not yet understood music Business. There are only two principles that music Business functions on and the law of perceived value is the core. As a Gospel Artiste, take your eyes off the money. If you keep your eyes on the money, you will struggle until you are fraustrated and start fighting the church and everyone else. What I am sharing with you now is unpopular and I know some people may argue this, but trust me, this is the Secret.

Listen, money is easy to make in music. All you need is to understand the business of music. Operate the two principles that it functions on and boom money will be pursuing you. Value attracts money. Nobody Hawks VALUE. Stop running around begging for platforms and getting angry that you are not paid honorarium. Operate the music business principles and watch your career soar to heights unimagined.

AMACHREE IKIJANA ALEX

Celebrity Music Coach
Music Content and Business Coach

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