There’s a fairly new show on TV called “The Profit.”
I’ve only seen an episode or two, but it’s really interesting. This millionaire goes into these small businesses, takes over for a week, and decides if he wants to invest hundreds of thousands of dollars into them to help them grow.
His mantra seems to be this:
If you don’t know your numbers, you don’t know your business.
I’ve been thinking a lot about this with my business. I don’t really know my numbers. Things like which products were the best-sellers last month? How many new subscribers did we get per day? Which YouTube videos generated the most traffic?
But let’s flip it around to the studio, shall we?
Do you know YOUR numbers?
When it comes to mixing a song or recording a demo for a singer-songwriter, do you know how long it will take?
I’m sure you know how long you think it will take, but have you ever really measured it? How long did it take you to mix the last 5 songs you mixed? You don’t know? Then how will you know how to give a potential client an estimate on how long it will take for you to mix their project?
If you’re like me, you tend to be way more optimistic about numbers. You need a healthy dose of reality. Log your time and see what you discover.
Once you have a good grasp on how long it really takes you to do various tasks in the studio, you can better organize your time, set goals, and set prices for clients.
How much do you want to make per hour? How long will it take you to mix a song? There’s your “per mix” rate.
It’s simple, but it ain’t easy.
And once you find out how long it takes you to mix a song, you might want to work on getting faster. If that’s the case, you should schedule a 15-minute mix session.
We’re doing it this week as a part of my VIP membership. Finishing a mix in 15 minutes is unbelievably energizing and inspiring. It makes you want to mix more songs, and it helps you learn what it takes to mix faster (something I call “gut mixing”).
Find out more in the members area:
And on Friday, I’ll be posting a video of me doing MY 15-minute mix. Talk about an adrenaline rush!
But it’s a lot of fun, too.
Come check it out with us. Whaddya say?
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