Like any other industries, music business has many myths that have been in existence and believed by many. Some hold on to those myths but also some opt to divert their beliefs into more effective ways to prosper in this business.

Be aware and know these myths.

The Discovery Myth…

Some believe you have to wait for your break— your fifteen minutes of fame. For some record labels to discover your hidden talent and one perfect example that showcases this myth are shows as Pop Idol or American Idol push the idea that the “Industry” is on the lookout for talent.

You will get nowhere waiting to be discovered. You have the full responsibility to gain your own success by working hard to fully maximize any chance for your music to have good and strategic exposure. You don’t have to wait for any kind of discovery.

Don’t let “music business” shows such as Pop Idol fool you with the glitz and glam.

The Record Deal Myth…

The myth that says when you sign a record deal you’re done.

This is true in the past, because record label is the only route to success but because of the power of web, a huge change in the nature of music business has been introduced.

In one way, you need a Record company, primarily for financial investment, marketing, and distribution. But you have to remember, you have to work harder and smarter to use the modern network nature of the Internet to replace Record Label functions. Know the technology to produce good music at a much lower cost and use the Internet for income.

Be watchful so you can keep creative control over the music you produce and your public image and performances. Most record deals stole your rights to your masters and all derivative works, merchandise, licensing and other profitable activities of your music business.

The Superstar Celebrity Myth…

You can say that you have succeeded when you reach this so called Fame (celebrity status), a highly overrated leash used by the old industry.

Youngsters aspire to reach this stardom and serve as their motivations. In exchange of money and fame they are moved by the industry and get their music recorded and performed.

You should remember that your motivation must be your love of good music and to entertain and uplift of others with your music. You should not allow your ego with illusions of fame to get in the way of your art or make you believe you are someone who deserves “diva treatment”.

Isn’t better to get the attention, exposure and respect you deserve because your music is good not because some someone has decided to pump millions into advertising and radio play to force you down the throat of “the masses” and up the charts.

Use your creativity in maximizing the internet to replace the old Superstar image game.

The Mega Money Myth…

You should have learned from the stories of big name artists who have been cheated by unfair record labels. They mastered the art of providing artists with a rich-and-glamorous image through marketing, publicity and styling and in return make a lot of money from them leaving the artists to lose control and ownership of your public image and creative control.

Remember you have keep the control and ownership under any circumstances because it is you who produced the work and no label should be allowed to profit indefinitely from your music and image.

Every time you outsource any task you lose money so you better focus on your own music business structure and activities. Generate multiple income streams just from what you know and love when you go direct to your audience.

The main thing you want to remember is that every time you outsource any task you lose money, which is fine because you’re investing in your business. But lastly, you have to know about the business and legal side of music, so you can structure and handle your music business activities well.

The Overnight Success Myth…

You’re one of the fools if you believe this. Success never comes to you in just overnight. You have to hone many different skills just to make music, not to mention earn a living and have a life!

Each day you have to keep in mind the key areas you need to improve to achieve the music and life you want.

Bob Dylan once said, “A man is a success if he gets up in the morning and gets to bed at night, and in between he does what he wants to do.”