How To Choose A Personal Manager
You are probably wondering what the difference is huh? Well that’s why I am here. 😀
To clarify, not everyone has numerous managers. It is not always necessary. But some people have numerous managers because there are so many things going on and everyone has to do their part.
Personal Manager
Generally your personal manager is the guy that is with you at all times, almost like your wing man. He will handle finances on the inside to make sure you are on the up and up and you are getting paid.
This is aside from your accountant which is more than necessary but for making sure your money is right and your taxes are paid.
And when you start making serious money. You need to hire another accountant to watch your main accountant.
So everything is truly account-ed for 😀 This may sound stupid, till your naive ass just trust someone to deal with your 100s of thousands of dollars and your ass goes to jail and all you are saying is “I seriously had no idea my taxes weren’t being paid.”
At least it’ll be federal prison so the chances of getting fucked in the ass are lower.
This happened to Fat Joe just a few years back. He went to prison for a year because he trusted his accountant. All he could do is be like “What the fuck” and say he didn’t know. He said he knew that guy for 20+ years and completely trusted him. When you start to give people trust they tend to turn an inch into a foot and a foot into your money.
You work for it. Watch it like a hawk. If you care about your kid, you watch your kid and care for it. Money is no different if you care about it.
Business Manager
Typically these are the higher up managers. These are the guys with more connects that get you the bigger deals. This is completely possible with personal managers too. But I know a lot of major artist who have more than one manager. It not only expands the network but allows people to be delegated tasks and doesn’t put too much of a burden on one person.
I currently have those 2 guys I mentioned on the last page but I also have a right hand personal-ish type of manager that helps me navigate these shark infested waters smoothly.
What I’m trying to get through your head is that you need to build a team you can trust. Make it strong, build it big if you need too. It is a general rule of thumb that if an artist is BIG in the industry, at least 15 people’s hands are dipped into the pot making money from that artist in some way.
I don’t mean his homies he is paying for, I mean people who are IN the industry that he needs to operate himself smoothly. Fifteen people are getting paid when he gets paid.
I didn’t believe it either until I saw a break down of finances from a major artist I am good friends with. I was like “Omg.” His monthly expenses are also $30,000 a month.
I remember him walking into the penthouse like “I just got back from my accountant, guess how much my monthly expenses are.” I said “$5,000!” And he looked at me like I was stupid lol
I hope you learned something here 😀 Plenty more articles to read, get to readin’ and sign up to my E-mail list so I can hook you up with more information and tools for free.
– NovAK