Latest / Music Explored Podcast / Navigating the Financial Landscape of Creative Success

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Navigating the Financial Landscape of Creative Success · Music Explored Podcast

• 0:00
  Realize
• 0:00
  that.
• 0:01
  Use
• 0:02
  your
• 0:02
  platform,
• 0:04
  use
• 0:04
  your
• 0:04
  success
• 0:05
  to
• 0:05
  create
• 0:05
  something
• 0:06
  for
• 0:06
  yourself.
• 0:06
  Outside
• 0:07
  of
• 0:07
  music
• 0:07
  as
• 0:07
  well,
• 0:08
  you're
• 0:08
  just
• 0:08
  in
• 0:09
  a
• 0:09
  much
• 0:09
  better
• 0:09
  position.
• 0:09
  Same
• 0:10
  thing
• 0:10
  with
• 0:10
  professional
• 0:10
  athletes,
• 0:11
  right?
• 0:11
  Like,
• 0:11
  it's,
• 0:12
  you
• 0:12
  know,
• 0:13
  they're
• 0:13
  all
• 0:13
  the
• 0:13
  same
• 0:14
  type
• 0:14
  of
• 0:14
  thing
• 0:14
  where
• 0:14
  as
• 0:15
  much
• 0:15
  money
• 0:15
  as
• 0:15
  you
• 0:15
  make,
• 0:15
  it
• 0:16
  all
• 0:16
  has
• 0:16
  to
• 0:16
  go
• 0:16
  back
• 0:16
  into
• 0:17
  it
• 0:17
  and
• 0:17
  then
• 0:17
  you
• 0:18
  can
• 0:18
  blow
• 0:18
  through
• 0:18
  it
• 0:18
  very
• 0:19
  quickly.
• 0:19
  Right.
• 0:20
  And
• 0:21
  if
• 0:21
  you
• 0:21
  don't
• 0:21
  really
• 0:22
  know,
• 0:22
  especially,
• 0:22
  you
• 0:22
  know,
• 0:23
  a
• 0:23
  lot
• 0:23
  of
• 0:23
  these
• 0:24
  as
• 0:24
  young
• 0:25
  people,
• 0:25
  you
• 0:25
  don't
• 0:25
  know
• 0:25
  how
• 0:26
  to
• 0:26
  manage
• 0:26
  this
• 0:26
  type
• 0:26
  of
• 0:26
  money.
• 0:27
  You
• 0:27
  don't
• 0:27
  know
• 0:27
  how
• 0:27
  to
• 0:27
  deal
• 0:27
  with
• 0:28
  these
• 0:28
  things.
• 0:28
  Right.
• 0:28
  Like,
• 0:28
  you
• 0:29
  get
• 0:29
  in
• 0:29
  advance
• 0:30
  on
• 0:30
  a
• 0:30
  deal
• 0:30
  and
• 0:30
  you
• 0:31
  end
• 0:31
  up
• 0:31
  blowing
• 0:31
  it
• 0:32
  on
• 0:32
  whatever
• 0:32
  it
• 0:32
  is.
• 0:33
  Sometimes
• 0:33
  it's
• 0:33
  not
• 0:33
  even,
• 0:34
  you
• 0:34
  know,
• 0:34
  like
• 0:34
  chains
• 0:35
  and
• 0:35
  cars.
• 0:35
  It's
• 0:35
  like,
• 0:35
  okay,
• 0:36
  let
• 0:36
  me,
• 0:36
  you
• 0:37
  know,
• 0:37
  like,
• 0:37
  get
• 0:38
  a
• 0:38
  case
• 0:38
  for
• 0:38
  my
• 0:38
  girl
• 0:39
  or
• 0:39
  like,
• 0:39
  you
• 0:40
  know,
• 0:40
  help
• 0:40
  my
• 0:40
  mom
• 0:40
  with
• 0:41
  some
• 0:41
  debts.
• 0:41
  And
• 0:41
  like,
• 0:41
  all
• 0:42
  the
• 0:42
  money's
• 0:42
  gone.
• 0:42
  You're
• 0:43
  not
• 0:43
  realizing
• 0:44
  there's
• 0:44
  tax
• 0:45
  owed
• 0:45
  on
• 0:45
  all
• 0:45
  that
• 0:46
  money
• 0:46
  you
• 0:46
  just
• 0:46
  got.
• 0:47
  Right?
• 0:47
  So
• 0:47
  now,
• 0:47
  end
• 0:47
  of
• 0:47
  the
• 0:47
  year,
• 0:48
  it's
• 0:48
  like,
• 0:48
  okay,
• 0:48
  all
• 0:48
  the
• 0:48
  money's
• 0:49
  gone,
• 0:49
  but
• 0:49
  now
• 0:49
  I
• 0:49
  owe
• 0:49
  taxes
• 0:50
  and
• 0:50
  you're
• 0:50
  already
• 0:51
  in
• 0:51
  a.
• 0:51
  In
• 0:52
  a,
• 0:52
  you
• 0:52
  know,
• 0:52
  a
• 0:53
  red
• 0:53
  situation.
• 0:54
  Right.
• 0:54
  Definitely
• 0:55
  have
• 0:55
  to
• 0:55
  be
• 0:55
  looking
• 0:56
  ahead,
• 0:56
  right?
• 0:57
  Yeah.
• 0:58
  So,
• 0:59
  I
• 0:59
  mean,
• 0:59
  when
• 0:59
  I
• 1:00
  hear
• 1:00
  entertainment
• 1:01
  attorney
• 1:02
  kind
• 1:02
  of
• 1:02
  have
• 1:03
  this
• 1:03
  big
• 1:03
  picture
• 1:03
  of
• 1:04
  what
• 1:04
  that
• 1:04
  means
• 1:05
  and
• 1:05
  kind
• 1:06
  of
• 1:06
  almost
• 1:07
  think
• 1:07
  that
• 1:08
  the
• 1:08
  job
• 1:08
  entails
• 1:10
  everything.
• 1:11
  So
• 1:11
  how
• 1:11
  would
• 1:11
  you
• 1:11
  define
• 1:13
  kind
• 1:14
  of
• 1:14
  just
• 1:14
  the
• 1:14
  range
• 1:15
  of
• 1:15
  what
• 1:15
  your
• 1:15
  job
• 1:16
  really
• 1:16
  does
• 1:16
  entail?
• 1:17
  Yeah.
• 1:17
  So
• 1:17
  an
• 1:17
  entertainment
• 1:18
  lawyer
• 1:18
  is
• 1:19
  essentially
• 1:19
  a
• 1:19
  contract
• 1:20
  lawyer,
• 1:21
  specific
• 1:21
  for
• 1:22
  the
• 1:22
  copyrights
• 1:23
  involved
• 1:23
  in
• 1:23
  entertainment.
• 1:24
  Okay.
• 1:26
  There's
• 1:26
  a
• 1:27
  few,
• 1:27
  you
• 1:27
  know,
• 1:27
  within
• 1:27
  that,
• 1:28
  there's
• 1:28
  a
• 1:28
  few
• 1:28
  different
• 1:28
  roles,
• 1:29
  and
• 1:29
  entertainment
• 1:30
  lawyers
• 1:31
  can
• 1:31
  play
• 1:31
  a
• 1:32
  few
• 1:32
  different
• 1:32
  hats
• 1:32
  they
• 1:32
  can
• 1:33
  put
• 1:33
  on.
• 1:33
  So
• 1:34
  some
• 1:34
  of
• 1:34
  them
• 1:34
  are
• 1:34
  just
• 1:35
  contract
• 1:36
  lawyers.
• 1:36
  So
• 1:36
  you
• 1:36
  have
• 1:36
  an
• 1:37
  agreement
• 1:37
  you
• 1:37
  need,
• 1:37
  they'll
• 1:38
  kind
• 1:38
  of
• 1:39
  put
• 1:39
  that
• 1:39
  together
• 1:39
  for
• 1:39
  you
• 1:40
  or
• 1:40
  negotiate
• 1:40
  it.
• 1:41
  Some
• 1:42
  of
• 1:42
  them
• 1:42
  are
• 1:42
  entertainment
• 1:43
  litigators.
• 1:44
  So
• 1:44
  let's
• 1:44
  say
• 1:44
  you
• 1:44
  need
• 1:44
  to
• 1:45
  sue
• 1:45
  someone
• 1:45
  for
• 1:45
  trademark
• 1:46
  infringement
• 1:46
  or
• 1:47
  copyright
• 1:47
  infringement.
• 1:49
  You
• 1:49
  know,
• 1:50
  they'll
• 1:50
  specialize
• 1:51
  in
• 1:51
  that.
• 1:51
  Some
• 1:51
  will
• 1:51
  do
• 1:52
  both.
• 1:53
  And
• 1:54
  then
• 1:54
  some
• 1:55
  lawyers
• 1:56
  will
• 1:57
  actually
• 1:58
  solicit
• 1:59
  opportunities
• 2:01
  for
• 2:01
  their
• 2:01
  clients
• 2:02
  and
• 2:02
  kind
• 2:02
  of,
• 2:04
  you
• 2:04
  know,
• 2:05
  like
• 2:05
  put
• 2:05
  parties
• 2:05
  together.
• 2:06
  Like,
• 2:06
  you
• 2:07
  know,
• 2:07
  if
• 2:07
  you
• 2:07
  have
• 2:07
  an
• 2:07
  artist
• 2:07
  and
• 2:08
  you're
• 2:08
  trying
• 2:09
  to
• 2:09
  source
• 2:09
  distribution
• 2:10
  or
• 2:11
  recording
• 2:11
  or
• 2:11
  something
• 2:12
  like
• 2:12
  that,
• 2:12
  some
• 2:13
  lawyers
• 2:13
  are
• 2:13
  able
• 2:14
  to
• 2:15
  use
• 2:16
  networks
• 2:16
  to
• 2:16
  kind
• 2:16
  of
• 2:17
  do
• 2:17
  that
• 2:17
  for
• 2:18
  clients
• 2:18
  as
• 2:18
  well.
• 2:18
  That
• 2:18
  sounds
• 2:19
  more
• 2:19
  like
• 2:19
  a
• 2:19
  manager.
• 2:19
  That's
• 2:20
  what
• 2:20
  I
• 2:20
  was
• 2:20
  gonna
• 2:20
  say
• 2:20
  as
• 2:20
  well.
• 2:21
  Yeah.
• 2:21
  Or
• 2:21
  agent.
• 2:22
  Yeah.
• 2:23
  Bleeding
• 2:24
  into
• 2:24
  all
• 2:24
  three.
• 2:24
  Yeah,
• 2:25
  exactly.
• 2:25
  And
• 2:25
  I
• 2:26
  mean,
• 2:26
  entertainment
• 2:27
  almost,
• 2:28
  it
• 2:28
  does
• 2:29
  kind
• 2:29
  of.
• 2:30
  There's
• 2:30
  many
• 2:30
  aspects
• 2:31
  of
• 2:31
  it.
• 2:31
  But
• 2:31
  sports
• 2:32
  is
• 2:32
  also
• 2:32
  another
• 2:33
  area
• 2:33
  Especially
• 2:34
  with
• 2:34
  the
• 2:34
  blend
• 2:34
  now
• 2:35
  of,
• 2:35
  like,
• 2:35
  esports
• 2:36
  and
• 2:36
  stuff
• 2:37
  like
• 2:37
  that.
• 2:37
  But
• 2:38
  all
• 2:39
  these
• 2:39
  sports
• 2:40
  agents
• 2:40
  have
• 2:41
  legal
• 2:41
  backgrounds,
• 2:41
  right?
• 2:42
  Right.
• 2:42
  They're
• 2:42
  all
• 2:42
  lawyers.
• 2:43
  They're
• 2:43
  all
• 2:43
  registered.
• 2:44
  They're
• 2:44
  licensed
• 2:44
  and
• 2:45
  registered
• 2:46
  because
• 2:47
  you're
• 2:47
  soliciting
• 2:48
  the
• 2:49
  opportunity
• 2:49
  and
• 2:49
  then
• 2:50
  you're
• 2:50
  negotiating
• 2:50
  the
• 2:51
  contract
• 2:51
  and
• 2:51
  everything.
• 2:52
  So
• 2:52
  there's
• 2:52
  a
• 2:53
  lot
• 2:53
  of
• 2:54
  technical
• 2:54
  legal
• 2:55
  stuff
• 2:55
  in
• 2:55
  there.
• 2:55
  So
• 2:56
  it's
• 2:56
  very
• 2:56
  common
• 2:57
  and
• 2:58
  same
• 2:58
  thing.
• 2:59
  So,
• 3:01
  you
• 3:01
  know,
• 3:01
  for
• 3:01
  myself,
• 3:02
  I
• 3:02
  don't
• 3:02
  litigate.
• 3:04
  I
• 3:05
  have
• 3:05
  done
• 3:05
  it
• 3:05
  before.
• 3:05
  It's
• 3:06
  not
• 3:06
  something
• 3:06
  I
• 3:06
  enjoy.
• 3:07
  Right.
• 3:07
  So
• 3:08
  I
• 3:08
  just
• 3:08
  kind
• 3:09
  of.
• 3:09
  I
• 3:09
  just
• 3:09
  don't
• 3:09
  do
• 3:09
  it.
• 3:10
  And
• 3:10
  I
• 3:10
  would
• 3:10
  rather
• 3:10
  leave
• 3:11
  it
• 3:11
  to
• 3:11
  someone
• 3:11
  who
• 3:12
  is
• 3:12
  good
• 3:12
  at
• 3:12
  that.
• 3:14
  I'm
• 3:14
  a
• 3:14
  strong
• 3:14
  believer
• 3:15
  in,
• 3:15
  like,
• 3:15
  focusing
• 3:16
  on
• 3:16
  your
• 3:16
  strengths
• 3:17
  and
• 3:17
  then
• 3:17
  finding
• 3:19
  people
• 3:19
  who
• 3:20
  are
• 3:20
  stronger
• 3:20
  in
• 3:20
  your
• 3:20
  weaknesses.
• 3:23
  So
• 3:23
  I
• 3:24
  don't
• 3:24
  do
• 3:24
  that,
• 3:24
  but
• 3:24
  I
• 3:25
  do
• 3:25
  solicit
• 3:26
  a
• 3:26
  lot
• 3:26
  of
• 3:26
  opportunities
• 3:27
  for
• 3:27
  my
• 3:27
  clients,
• 3:27
  and
• 3:28
  especially
• 3:28
  because
• 3:29
  I
• 3:29
  was
• 3:30
  on
• 3:30
  the
• 3:30
  management
• 3:31
  side
• 3:31
  of
• 3:31
  things
• 3:32
  and
• 3:32
  mainstream
• 3:33
  connections
• 3:33
  and
• 3:33
  kind
• 3:33
  of
• 3:34
  know
• 3:34
  how
• 3:34
  that
• 3:34
  works,
• 3:34
  how
• 3:34
  to
• 3:35
  leverage
• 3:36
  certain
• 3:36
  things
• 3:37
  to
• 3:37
  get
• 3:38
  opportunities.
• 3:40
  I
• 3:40
  definitely
• 3:40
  do
• 3:41
  as
• 3:41
  much
• 3:41
  of
• 3:42
  that
• 3:42
  as
• 3:42
  I
• 3:42
  can.
• 3:43
  Okay,
• 3:44
  what
• 3:45
  are
• 3:45
  some
• 3:45
  of
• 3:45
  the,
• 3:46
  I
• 3:46
  guess,
• 3:46
  fundamental
• 3:47
  things
• 3:47
  that
• 3:48
  artists,
• 3:49
  musicians,
• 3:49
  freelancers,
• 3:51
  I
• 3:51
  guess,
• 3:52
  other
• 3:52
  creatives
• 3:53
  and
• 3:53
  entrepreneurs
• 3:54
  should
• 3:54
  have
• 3:54
  in
• 3:54
  place?
• 3:56
  Yeah,
• 3:57
  so,
• 3:59
  I
• 4:00
  mean,
• 4:00
  there's
• 4:00
  like,
• 4:01
  the
• 4:01
  legal
• 4:02
  stuff,
• 4:03
  but
• 4:03
  I
• 4:03
  think
• 4:04
  the.
• 4:04
  The
• 4:04
  biggest
• 4:05
  fundamental,
• 4:06
  I
• 4:06
  think,
• 4:06
  is
• 4:06
  the
• 4:06
  mentality
• 4:07
  when
• 4:07
  you
• 4:07
  decide
• 4:08
  to
• 4:08
  get
• 4:08
  into
• 4:08
  something
• 4:08
  like
• 4:09
  this.
• 4:10
  So
• 4:10
  what
• 4:10
  I
• 4:10
  mean
• 4:11
  by
• 4:11
  that
• 4:11
  is
• 4:11
  a
• 4:11
  lot
• 4:12
  of,
• 4:12
  you
• 4:13
  know,
• 4:13
  let's
• 4:13
  say
• 4:13
  you
• 4:13
  have
• 4:13
  a
• 4:14
  talent,
• 4:14
  you
• 4:14
  can
• 4:14
  sing.
• 4:16
  For
• 4:16
  you
• 4:17
  to
• 4:17
  then
• 4:17
  take
• 4:18
  that
• 4:18
  and
• 4:19
  turn
• 4:19
  that
• 4:19
  into
• 4:20
  your
• 4:20
  livelihood
• 4:22
  changes
• 4:23
  that
• 4:23
  all
• 4:23
  together.
• 4:24
  Right,
• 4:25
  Right.
• 4:25
  So
• 4:26
  fundamentally,
• 4:27
  you
• 4:27
  need
• 4:27
  to
• 4:27
  understand
• 4:28
  that
• 4:28
  before
• 4:29
  deciding
• 4:29
  to
• 4:29
  do
• 4:30
  this.
• 4:30
  And
• 4:30
  then
• 4:30
  once
• 4:30
  you
• 4:31
  understand
• 4:31
  that,
• 4:31
  you
• 4:32
  can
• 4:32
  give
• 4:32
  it
• 4:32
  that
• 4:32
  respect
• 4:33
  and
• 4:33
  then
• 4:33
  give
• 4:34
  it
• 4:34
  everything
• 4:34
  it
• 4:34
  needs
• 4:34
  to
• 4:35
  succeed
• 4:35
  in
• 4:35
  that.
• 4:36
  In
• 4:36
  that
• 4:36
  space.
• 4:36
  Now,
• 4:37
  I
• 4:37
  think
• 4:37
  that's
• 4:37
  important
• 4:38
  for
• 4:38
  anyone
• 4:38
  that
• 4:38
  has
• 4:39
  a
• 4:39
  hobby,
• 4:39
  too.
• 4:39
  Like
• 4:40
  if
• 4:40
  you're
• 4:40
  a
• 4:40
  carpenter,
• 4:41
  if
• 4:41
  you
• 4:41
  like
• 4:41
  making
• 4:43
  bird
• 4:43
  nests
• 4:44
  or
• 4:44
  something,
• 4:44
  whatever,
• 4:45
  and
• 4:45
  you
• 4:45
  want
• 4:45
  to
• 4:45
  get
• 4:46
  that
• 4:46
  into
• 4:46
  a
• 4:46
  business.
• 4:48
  No,
• 4:49
  we're
• 4:49
  making
• 4:49
  this,
• 4:51
  and
• 4:51
  you
• 4:51
  have
• 4:51
  a
• 4:51
  passion
• 4:52
  and
• 4:52
  you
• 4:52
  want
• 4:52
  to
• 4:52
  turn
• 4:52
  that
• 4:53
  to
• 4:53
  an.
• 4:53
  Into
• 4:53
  a
• 4:54
  business.
• 4:54
  You
• 4:54
  have
• 4:54
  to
• 4:54
  also
• 4:55
  change
• 4:55
  your
• 4:55
  mind
• 4:56
  set
• 4:57
  because
• 4:57
  you'll.
• 4:57
  You'll
• 4:58
  lose.
• 4:59
  You
• 4:59
  lose
• 5:00
  yourself
• 5:00
  in
• 5:00
  the
• 5:00
  hobby
• 5:01
  and
• 5:01
  not
• 5:01
  focus
• 5:01
  on
• 5:02
  the
• 5:02
  business.
• 5:02
  And
• 5:02
  both
• 5:02
  of
• 5:02
  them
• 5:03
  are
• 5:03
  equally
• 5:03
  as
• 5:03
  important.
• 5:04
  So
• 5:05
  I
• 5:05
  think
• 5:05
  there's.
• 5:06
  It's
• 5:06
  not
• 5:06
  just
• 5:06
  for
• 5:07
  musicians
• 5:07
  or
• 5:08
  artists.
• 5:08
  That
• 5:08
  could
• 5:08
  be
• 5:09
  applied
• 5:09
  to
• 5:09
  anyone
• 5:09
  looking
• 5:10
  to
• 5:10
  actually
• 5:11
  make.
• 5:11
  Make
• 5:11
  something
• 5:12
  their
• 5:12
  livelihood
• 5:13
  100%.
• 5:13
  And,
• 5:14
  and.
• 5:14
  And,
• 5:14
  you
• 5:15
  know,
• 5:15
  I
• 5:16
  recognize
• 5:16
  that
• 5:17
  that
• 5:17
  was
• 5:17
  an
• 5:17
  issue
• 5:17
  that
• 5:18
  people
• 5:18
  weren't
• 5:18
  realizing
• 5:19
  that.
• 5:19
  That's
• 5:19
  why,
• 5:19
  you
• 5:20
  know,
• 5:20
  I'm
• 5:20
  stating
• 5:20
  that
• 5:21
  now.
• 5:21
  But
• 5:21
  you're
• 5:22
  completely
• 5:22
  right.
• 5:22
  It's
• 5:22
  for
• 5:23
  all
• 5:23
  my
• 5:23
  new
• 5:23
  business
• 5:23
  startups.
• 5:24
  I
• 5:24
  always
• 5:24
  tell
• 5:25
  them,
• 5:25
  I'm
• 5:25
  like,
• 5:26
  if
• 5:26
  you're
• 5:26
  going
• 5:26
  to
• 5:27
  take
• 5:27
  your
• 5:27
  passion,
• 5:28
  if
• 5:28
  you're
• 5:28
  going
• 5:28
  to
• 5:28
  pursue
• 5:29
  your
• 5:29
  passion
• 5:29
  as
• 5:29
  a
• 5:29
  career,
• 5:30
  it's
• 5:30
  no
• 5:30
  longer
• 5:30
  a
• 5:31
  passion
• 5:31
  for
• 5:31
  you.
• 5:31
  You
• 5:31
  need
• 5:32
  to
• 5:32
  understand
• 5:32
  that.
• 5:32
  Exactly
• 5:33
  right.
• 5:33
  The
• 5:33
  utility,
• 5:34
  the
• 5:34
  fun
• 5:34
  you
• 5:34
  got
• 5:35
  out
• 5:35
  of
• 5:35
  it,
• 5:35
  the
• 5:35
  enjoyment
• 5:36
  got
• 5:36
  of
• 5:36
  it.
• 5:36
  It's
• 5:36
  just
• 5:36
  the
• 5:37
  passion
• 5:37
  is,
• 5:38
  is
• 5:38
  gone
• 5:38
  now.
• 5:39
  It's
• 5:39
  now
• 5:39
  your
• 5:39
  livelihood.
• 5:40
  You
• 5:40
  can
• 5:40
  still
• 5:40
  get
• 5:41
  some
• 5:41
  enjoyment
• 5:41
  out
• 5:41
  of
• 5:41
  it,
• 5:42
  but
• 5:42
  you
• 5:42
  got
• 5:42
  to
• 5:42
  understand
• 5:42
  everything
• 5:43
  else
• 5:43
  that
• 5:43
  comes
• 5:43
  with
• 5:44
  that,
• 5:44
  that's
• 5:44
  a
• 5:44
  trade
• 5:45
  off.
• 5:45
  Exactly
• 5:46
  right.
• 5:46
  Like,
• 5:47
  and
• 5:47
  I
• 5:47
  also
• 5:47
  tell
• 5:47
  people
• 5:48
  it's
• 5:48
  like
• 5:48
  understanding
• 5:49
  that
• 5:49
  now,
• 5:50
  you
• 5:50
  know,
• 5:50
  life
• 5:51
  is
• 5:52
  not
• 5:52
  really
• 5:52
  about
• 5:53
  pursuing
• 5:54
  your,
• 5:55
  your
• 5:55
  passions
• 5:56
  as
• 5:56
  your
• 5:56
  career
• 5:57
  because
• 5:57
  again,
• 5:57
  that
• 5:58
  will
• 5:58
  change.
• 5:58
  Right.
• 5:59
  It's
• 5:59
  more
• 5:59
  so
• 5:59
  about
• 6:00
  trying
• 6:00
  to
• 6:00
  become
• 6:00
  passionate
• 6:01
  about
• 6:02
  what
• 6:02
  you're
• 6:02
  pursuing
• 6:03
  or
• 6:03
  what
• 6:03
  you're
• 6:03
  doing.
• 6:04
  For
• 6:04
  example,
• 6:05
  never
• 6:06
  wanted
• 6:06
  to
• 6:06
  practice
• 6:06
  law.
• 6:07
  I
• 6:07
  just
• 6:07
  happen
• 6:08
  to
• 6:08
  find
• 6:08
  a
• 6:08
  way
• 6:09
  to
• 6:09
  become
• 6:10
  passionate
• 6:10
  about
• 6:10
  how
• 6:11
  I
• 6:11
  practice
• 6:11
  it
• 6:12
  and
• 6:13
  which
• 6:13
  has
• 6:13
  led
• 6:13
  to
• 6:13
  my
• 6:13
  success
• 6:14
  for
• 6:14
  sure.
• 6:16
  So,
• 6:16
  you
• 6:17
  know,
• 6:17
  that's,
• 6:17
  I
• 6:17
  think
• 6:17
  that's
• 6:18
  a
• 6:18
  fundamental
• 6:18
  thing
• 6:18
  and
• 6:20
  every
• 6:21
  time
• 6:21
  I
• 6:21
  talk
• 6:21
  about
• 6:22
  this,
• 6:22
  that's
• 6:22
  always
• 6:22
  where
• 6:22
  I
• 6:23
  start.
• 6:23
  It's
• 6:23
  like
• 6:23
  you
• 6:23
  need
• 6:23
  to
• 6:24
  understand
• 6:24
  that
• 6:25
  you
• 6:25
  are
• 6:25
  now
• 6:26
  taking
• 6:26
  something
• 6:26
  that
• 6:27
  you
• 6:27
  may
• 6:27
  be
• 6:27
  talented
• 6:27
  in
• 6:28
  or
• 6:28
  passion
• 6:28
  you
• 6:28
  have
• 6:29
  and
• 6:29
  now
• 6:29
  converting
• 6:30
  it
• 6:30
  into
• 6:30
  a
• 6:30
  livelihood,
• 6:31
  which
• 6:31
  is
• 6:31
  fine
• 6:32
  as
• 6:32
  long
• 6:33
  as
• 6:33
  you
• 6:33
  can
• 6:33
  give
• 6:33
  it
• 6:33
  that
• 6:34
  respect
• 6:34
  and
• 6:34
  understand
• 6:35
  what
• 6:36
  it
• 6:36
  is,
• 6:37
  then
• 6:37
  you
• 6:37
  know
• 6:37
  how
• 6:37
  to
• 6:38
  deal
• 6:38
  with
• 6:38
  it
• 6:38
  properly
• 6:39
  and
• 6:39
  you
• 6:39
  know,
• 6:40
  talk
• 6:40
  to
• 6:40
  a
• 6:40
  lawyer,
• 6:40
  get
• 6:41
  an
• 6:41
  accountant.
• 6:41
  Right.
• 6:42
  Maybe
• 6:42
  you
• 6:42
  need
• 6:42
  a
• 6:42
  manager.
• 6:44
  Once
• 6:44
  you
• 6:44
  do
• 6:44
  that,
• 6:45
  you
• 6:45
  can
• 6:45
  understand
• 6:45
  the
• 6:46
  skills
• 6:46
  you
• 6:46
  have,
• 6:47
  which
• 6:47
  is
• 6:47
  usually
• 6:48
  just
• 6:48
  creating
• 6:48
  the
• 6:49
  product
• 6:49
  and
• 6:50
  then
• 6:50
  understanding
• 6:51
  that
• 6:51
  you
• 6:51
  need
• 6:51
  other
• 6:52
  people
• 6:52
  now
• 6:52
  or
• 6:54
  other
• 6:54
  service
• 6:54
  providers
• 6:55
  or
• 6:56
  other
• 6:57
  tools
• 6:57
  to
• 6:57
  help
• 6:58
  market
• 6:58
  and
• 6:59
  commercialize
• 7:01
  your
• 7:02
  product
• 7:02
  that
• 7:02
  you're
• 7:02
  creating?
• 7:03
  Yeah.
• 7:04
  Would
• 7:04
  you
• 7:05
  say
• 7:05
  that
• 7:07
  you
• 7:07
  had
• 7:07
  some
• 7:07
  sort
• 7:07
  of
• 7:08
  underlying
• 7:08
  passion
• 7:09
  like
• 7:09
  even
• 7:10
  just
• 7:10
  growing
• 7:10
  up
• 7:10
  that
• 7:11
  kind
• 7:11
  of
• 7:12
  is
• 7:12
  there
• 7:12
  now
• 7:13
  that
• 7:13
  ties
• 7:13
  into
• 7:13
  what
• 7:14
  you
• 7:14
  do?
• 7:16
  Yeah.
• 7:16
  So
• 7:17
  I'm,
• 7:17
  I'm,
• 7:19
  I'm
• 7:19
  big
• 7:20
  on
• 7:20
  design,
• 7:21
  so
• 7:21
  I,
• 7:22
  you
• 7:23
  know,
• 7:23
  like
• 7:23
  for
• 7:25
  a
• 7:25
  few
• 7:25
  of
• 7:25
  my
• 7:25
  clients
• 7:27
  I
• 7:28
  like
• 7:28
  to
• 7:28
  help
• 7:28
  or
• 7:29
  advise
• 7:29
  on,
• 7:30
  you
• 7:30
  know,
• 7:30
  like
• 7:30
  some
• 7:30
  of
• 7:31
  the
• 7:31
  merchandise
• 7:31
  and
• 7:31
  things
• 7:32
  like
• 7:32
  that.
• 7:32
  So
• 7:33
  for
• 7:33
  me
• 7:33
  I've
• 7:33
  just
• 7:33
  found
• 7:34
  a
• 7:34
  way
• 7:34
  to
• 7:35
  incorporate
• 7:36
  some
• 7:37
  of
• 7:37
  what
• 7:37
  I'm
• 7:38
  passionate
• 7:38
  about
• 7:38
  into
• 7:40
  what
• 7:40
  I
• 7:41
  do.
• 7:41
  But
• 7:41
  reminds
• 7:42
  me
• 7:42
  of
• 7:43
  you
• 7:43
  guys.
• 7:43
  Remember
• 7:43
  Mike
• 7:44
  Rowe,
• 7:44
  Dirty
• 7:45
  Jobs?
• 7:45
  Yeah,
• 7:46
  that
• 7:46
  guy.
• 7:46
  So
• 7:47
  you
• 7:47
  had
• 7:47
  a
• 7:47
  talk.
• 7:48
  I
• 7:48
  think
• 7:49
  it
• 7:49
  was
• 7:49
  basically
• 7:50
  for
• 7:50
  graduating
• 7:51
  high
• 7:51
  school
• 7:52
  students,
• 7:52
  just
• 7:53
  debunking
• 7:53
  the
• 7:53
  whole
• 7:54
  follow
• 7:54
  your
• 7:54
  passion
• 7:54
  thing.
• 7:55
  I
• 7:56
  recommend
• 7:56
  finding
• 7:57
  it
• 7:57
  online,
• 7:57
  but
• 7:57
  it
• 7:57
  ends
• 7:58
  with
• 7:58
  him
• 7:58
  saying,
• 7:59
  don't
• 7:59
  follow
• 7:59
  your
• 7:59
  passion
• 8:00
  but
• 8:00
  always
• 8:00
  bring
• 8:01
  it
• 8:01
  with
• 8:01
  you.
• 8:02
  Really
• 8:02
  Reminds
• 8:02
  me
• 8:02
  of
• 8:02
  what
• 8:03
  you're
• 8:03
  saying.
• 8:03
  Yeah,
• 8:04
  for
• 8:04
  sure.
• 8:05
  Yeah.
• 8:05
  No,
• 8:05
  that's
• 8:06
  the.
• 8:06
  Yeah,
• 8:06
  that's
• 8:07
  exactly.
• 8:08
  That's
• 8:08
  it.
• 8:08
  And
• 8:08
  I
• 8:09
  think,
• 8:09
  you
• 8:09
  know,
• 8:11
  society
• 8:12
  as
• 8:12
  it
• 8:12
  is
• 8:12
  right
• 8:13
  now,
• 8:13
  we're
• 8:13
  so
• 8:13
  used
• 8:13
  to
• 8:14
  this,
• 8:14
  like,
• 8:14
  instant
• 8:14
  gratification
• 8:15
  and
• 8:16
  like,
• 8:16
  it's,
• 8:16
  it's.
• 8:17
  It's
• 8:17
  kind
• 8:18
  of
• 8:18
  perverted
• 8:18
  the
• 8:18
  way
• 8:19
  we
• 8:19
  think
• 8:19
  about
• 8:19
  how
• 8:20
  we
• 8:20
  should
• 8:20
  be
• 8:20
  happy.
• 8:21
  Yes.
• 8:21
  Right.
• 8:22
  So,
• 8:23
  you
• 8:23
  know,
• 8:23
  you
• 8:23
  have
• 8:23
  a
• 8:23
  whole
• 8:24
  generation
• 8:24
  now
• 8:25
  that's
• 8:25
  like,
• 8:25
  you
• 8:25
  know,
• 8:26
  I'm
• 8:26
  not
• 8:26
  happy.
• 8:27
  I'm
• 8:27
  not
• 8:27
  instantly
• 8:28
  fulfilled
• 8:28
  in
• 8:28
  what
• 8:28
  I'm
• 8:29
  doing.
• 8:30
  Not
• 8:30
  realizing
• 8:30
  I'm
• 8:30
  doing
• 8:31
  this
• 8:31
  in
• 8:31
  exchange
• 8:31
  for
• 8:32
  a
• 8:32
  paycheck.
• 8:32
  This
• 8:32
  is
• 8:33
  not.
• 8:33
  It's
• 8:33
  not
• 8:33
  called
• 8:34
  fun.
• 8:34
  It's
• 8:34
  called
• 8:34
  work.
• 8:35
  Right.
• 8:35
  It's
• 8:35
  called
• 8:35
  your
• 8:35
  job.
• 8:36
  Right.
• 8:36
  So
• 8:36
  as
• 8:36
  long
• 8:36
  as
• 8:36
  you
• 8:37
  can
• 8:37
  understand
• 8:37
  that
• 8:37
  and
• 8:37
  then,
• 8:38
  you
• 8:38
  know,
• 8:38
  give
• 8:39
  it
• 8:39
  that
• 8:39
  respect,
• 8:40
  it
• 8:40
  won't
• 8:40
  take
• 8:41
  away
• 8:41
  from
• 8:41
  whatever
• 8:42
  you
• 8:42
  do
• 8:42
  enjoy
• 8:42
  in
• 8:42
  life
• 8:43
  and,
• 8:43
  like,
• 8:43
  what
• 8:43
  you,
• 8:44
  you
• 8:44
  know,
• 8:45
  are
• 8:45
  passionate
• 8:46
  about.
• 8:46
  And
• 8:47
  at
• 8:47
  any
• 8:47
  opportunity,
• 8:48
  if
• 8:48
  you're
• 8:48
  able
• 8:48
  to,
• 8:49
  you
• 8:49
  know,
• 8:50
  put
• 8:50
  the
• 8:50
  two
• 8:51
  together,
• 8:51
  then
• 8:52
  that's
• 8:52
  just
• 8:52
  even
• 8:52
  better
• 8:53
  for
• 8:53
  sure.
• 8:54
  What.
• 8:55
  What
• 8:55
  stage
• 8:55
  of
• 8:55
  an
• 8:56
  artist's
• 8:56
  progression
• 8:57
  do
• 8:57
  you
• 8:58
  think
• 8:58
  they
• 8:58
  should
• 8:59
  even
• 8:59
  reach
• 8:59
  out
• 8:59
  to?
• 9:00
  A
• 9:00
  lawyer?
• 9:01
  Yeah,
• 9:01
  so,
• 9:01
  so.
• 9:02
  And
• 9:02
  also
• 9:02
  to
• 9:02
  tie
• 9:03
  into
• 9:03
  your
• 9:03
  question
• 9:03
  about
• 9:04
  the
• 9:04
  fundamentals.
• 9:04
  So,
• 9:05
  you
• 9:05
  know,
• 9:06
  one
• 9:06
  is
• 9:06
  really
• 9:06
  getting
• 9:06
  the
• 9:07
  mindset,
• 9:07
  right?
• 9:08
  Talking
• 9:09
  to
• 9:09
  a
• 9:09
  mentor,
• 9:10
  trying
• 9:10
  to
• 9:10
  understand
• 9:11
  who.
• 9:11
  What's
• 9:11
  involved,
• 9:12
  and
• 9:12
  then
• 9:12
  deciding
• 9:13
  if
• 9:13
  you're
• 9:13
  willing
• 9:14
  to
• 9:14
  take
• 9:14
  that
• 9:14
  on.
• 9:15
  And
• 9:15
  then
• 9:15
  two
• 9:16
  is
• 9:16
  actually
• 9:16
  getting
• 9:17
  the
• 9:17
  business
• 9:17
  set
• 9:17
  up.
• 9:18
  Because
• 9:19
  you
• 9:20
  are
• 9:20
  a
• 9:20
  business.
• 9:20
  You
• 9:20
  have
• 9:20
  to
• 9:21
  understand
• 9:21
  that
• 9:21
  you
• 9:21
  yourself
• 9:22
  are
• 9:22
  now
• 9:22
  becoming
• 9:22
  a
• 9:22
  business.
• 9:23
  Whether
• 9:23
  you're
• 9:24
  a
• 9:24
  producer,
• 9:24
  an
• 9:24
  engineer,
• 9:25
  you
• 9:26
  know,
• 9:26
  a
• 9:26
  singer,
• 9:26
  songwriter,
• 9:27
  whatever
• 9:28
  it
• 9:28
  is,
• 9:28
  you're
• 9:28
  now
• 9:29
  becoming
• 9:29
  a
• 9:29
  business.
• 9:29
  So
• 9:30
  you
• 9:30
  need
• 9:30
  to
• 9:30
  do
• 9:30
  everything
• 9:30
  that
• 9:31
  comes
• 9:31
  along
• 9:31
  with
• 9:31
  that.
• 9:32
  I
• 9:32
  typically
• 9:33
  advise
• 9:33
  my
• 9:33
  clients
• 9:34
  the
• 9:34
  first
• 9:34
  place
• 9:34
  to
• 9:34
  start
• 9:35
  is
• 9:36
  setting
• 9:37
  up
• 9:37
  a
• 9:37
  corporation,
• 9:38
  right.
• 9:39
  You
• 9:39
  will
• 9:39
  need
• 9:39
  it
• 9:40
  eventually,
• 9:41
  especially
• 9:41
  as
• 9:41
  an
• 9:42
  artist.
• 9:42
  Once
• 9:42
  you
• 9:42
  get
• 9:42
  signed,
• 9:43
  you'll
• 9:43
  need
• 9:43
  something
• 9:43
  called
• 9:44
  a
• 9:44
  loan,
• 9:44
  through
• 9:44
  which
• 9:45
  basically
• 9:45
  how
• 9:45
  the
• 9:45
  label
• 9:46
  pays
• 9:46
  you.
• 9:48
  But,
• 9:49
  you
• 9:49
  know,
• 9:49
  you
• 9:49
  got
• 9:49
  to
• 9:50
  set
• 9:50
  this
• 9:50
  up.
• 9:50
  And
• 9:50
  there's
• 9:51
  a
• 9:51
  number
• 9:51
  of
• 9:51
  other
• 9:51
  benefits.
• 9:53
  You
• 9:53
  know,
• 9:53
  you
• 9:53
  start
• 9:54
  to,
• 9:54
  like,
• 9:54
  let's
• 9:55
  say,
• 9:57
  you
• 9:57
  know,
• 9:57
  it's
• 9:58
  DNA
• 9:59
  Project,
• 9:59
  right?
• 10:00
  DNA
• 10:00
  Project,
• 10:01
  Inc.
• 10:02
  Whenever
• 10:03
  we
• 10:03
  register
• 10:03
  that
• 10:03
  corporation,
• 10:04
  that
• 10:04
  name
• 10:05
  is
• 10:05
  now
• 10:05
  registered
• 10:06
  somewhere
• 10:06
  that
• 10:06
  the.
• 10:06
  That's.
• 10:07
  It's,
• 10:07
  It's.
• 10:07
  It's
• 10:07
  a
• 10:08
  protected
• 10:09
  name
• 10:09
  in
• 10:09
  the
• 10:09
  sense
• 10:09
  that
• 10:10
  we
• 10:10
  can
• 10:10
  trace
• 10:10
  back
• 10:10
  and
• 10:10
  say
• 10:11
  they've
• 10:11
  been
• 10:11
  using
• 10:11
  it
• 10:12
  since
• 10:12
  this
• 10:12
  date.
• 10:13
  Right.
• 10:13
  Somebody
• 10:14
  comes
• 10:14
  three
• 10:14
  years
• 10:15
  later
• 10:15
  and
• 10:15
  tries
• 10:15
  to
• 10:16
  take
• 10:16
  the
• 10:16
  name,
• 10:16
  it's
• 10:16
  like,
• 10:16
  well,
• 10:17
  no,
• 10:17
  we
• 10:17
  have
• 10:17
  a
• 10:17
  reg.
• 10:18
  Not
• 10:18
  only
• 10:18
  can
• 10:18
  we
• 10:18
  show
• 10:18
  you
• 10:19
  our
• 10:19
  website,
• 10:19
  this
• 10:19
  and
• 10:19
  that
• 10:20
  that
• 10:20
  we've
• 10:20
  been
• 10:20
  using,
• 10:20
  we
• 10:21
  also
• 10:21
  have
• 10:21
  A
• 10:21
  registration
• 10:22
  showing
• 10:22
  that
• 10:22
  this
• 10:22
  is
• 10:23
  a
• 10:23
  name
• 10:23
  we
• 10:23
  secured
• 10:23
  since
• 10:24
  the
• 10:24
  state.
• 10:24
  Right,
• 10:25
  right.
• 10:25
  So
• 10:25
  it's
• 10:25
  beneficial
• 10:26
  that
• 10:26
  way.
• 10:26
  But
• 10:26
  it
• 10:27
  also
• 10:27
  helps
• 10:27
  you
• 10:28
  organize
• 10:28
  your
• 10:29
  income.
• 10:30
  Right.
• 10:30
  So
• 10:30
  as
• 10:31
  money
• 10:31
  comes
• 10:31
  in,
• 10:31
  I
• 10:32
  mean,
• 10:32
  a
• 10:33
  good
• 10:33
  accountant
• 10:33
  is
• 10:34
  always
• 10:34
  good
• 10:34
  to
• 10:34
  have,
• 10:34
  but
• 10:35
  they'll
• 10:35
  tell
• 10:35
  you
• 10:35
  as
• 10:35
  much
• 10:36
  as
• 10:36
  you
• 10:36
  can
• 10:36
  leave
• 10:36
  in
• 10:36
  there,
• 10:37
  leave
• 10:37
  it.
• 10:37
  Because
• 10:38
  your
• 10:38
  corporate
• 10:38
  tax
• 10:39
  rate
• 10:39
  is
• 10:39
  going
• 10:39
  to
• 10:39
  be
• 10:39
  far
• 10:40
  less
• 10:40
  than
• 10:40
  your
• 10:41
  personal
• 10:41
  tax
• 10:41
  rate.
• 10:42
  And
• 10:42
  I'll
• 10:42
  give
• 10:42
  you
• 10:42
  a
• 10:42
  quick
• 10:42
  example
• 10:43
  because,
• 10:43
  you
• 10:44
  know,
• 10:44
  maybe
• 10:45
  it's
• 10:45
  easier
• 10:46
  to
• 10:46
  conceptualize
• 10:46
  in
• 10:47
  my
• 10:47
  mind.
• 10:47
  I
• 10:47
  talk
• 10:47
  about
• 10:47
  this
• 10:47
  stuff
• 10:48
  all
• 10:48
  the
• 10:48
  time.
• 10:48
  But
• 10:48
  let's
• 10:48
  say,
• 10:49
  you
• 10:49
  know,
• 10:49
  you
• 10:49
  sign
• 10:50
  a
• 10:50
  record
• 10:50
  deal
• 10:50
  and
• 10:50
  you
• 10:51
  get
• 10:51
  $200,000
• 10:52
  advance.
• 10:54
  If
• 10:54
  you
• 10:54
  don't
• 10:54
  have
• 10:54
  a
• 10:55
  corporation
• 10:55
  set
• 10:55
  up,
• 10:56
  that
• 10:56
  income
• 10:57
  comes
• 10:57
  to
• 10:57
  you
• 10:57
  personally.
• 10:58
  Right.
• 10:59
  So
• 10:59
  Matthew
• 11:00
  Ram
• 11:00
  is
• 11:00
  now
• 11:00
  taking
• 11:01
  an
• 11:01
  income
• 11:01
  for
• 11:02
  20,
• 11:02
  20
• 11:02
  of
• 11:02
  $200,000.
• 11:03
  Right.
• 11:04
  I'm
• 11:04
  gonna
• 11:04
  pay
• 11:05
  income
• 11:05
  tax
• 11:06
  at
• 11:06
  a
• 11:06
  tax
• 11:07
  rate
• 11:08
  of
• 11:08
  $200,000.
• 11:09
  But
• 11:09
  you
• 11:09
  also
• 11:10
  got
• 11:10
  to
• 11:10
  take
• 11:10
  in
• 11:10
  whatever
• 11:11
  other
• 11:11
  income
• 11:11
  I've
• 11:11
  taken
• 11:11
  in
• 11:12
  that
• 11:12
  year.
• 11:12
  Right,
• 11:12
  right.
• 11:13
  So
• 11:13
  let's
• 11:13
  say
• 11:13
  I'm
• 11:13
  at
• 11:13
  $250,000.
• 11:15
  I'm
• 11:15
  gonna
• 11:15
  pay,
• 11:16
  you
• 11:16
  know,
• 11:16
  whatever
• 11:16
  the
• 11:16
  tax
• 11:17
  bracket
• 11:17
  is,
• 11:17
  30
• 11:17
  something
• 11:18
  percent,
• 11:18
  40%,
• 11:19
  whatever
• 11:19
  it
• 11:19
  is.
• 11:20
  If
• 11:20
  I
• 11:21
  have
• 11:21
  a
• 11:21
  corporation,
• 11:21
  I
• 11:22
  can
• 11:22
  now
• 11:22
  pull
• 11:22
  that
• 11:23
  money,
• 11:23
  have
• 11:23
  it
• 11:23
  paid
• 11:23
  to
• 11:23
  the
• 11:24
  corporation
• 11:24
  where
• 11:25
  I
• 11:25
  leave
• 11:25
  it
• 11:25
  in
• 11:25
  there
• 11:25
  and
• 11:26
  I
• 11:26
  pay
• 11:26
  corporate
• 11:26
  tax
• 11:27
  rate
• 11:27
  of
• 11:27
  whatever
• 11:28
  it
• 11:28
  is,
• 11:28
  13%.
• 11:29
  And
• 11:30
  I
• 11:30
  only
• 11:30
  take
• 11:30
  out
• 11:30
  whatever
• 11:31
  I
• 11:31
  need
• 11:31
  essentially
• 11:32
  to
• 11:32
  use.
• 11:32
  I
• 11:32
  only
• 11:33
  need
• 11:33
  like
• 11:33
  50,000
• 11:34
  within
• 11:34
  that
• 11:34
  year.
• 11:34
  I
• 11:35
  just
• 11:35
  take
• 11:35
  that,
• 11:35
  add
• 11:35
  it
• 11:35
  to
• 11:36
  my
• 11:36
  personal
• 11:36
  income,
• 11:36
  and
• 11:36
  then
• 11:37
  I'm
• 11:37
  in
• 11:37
  a
• 11:37
  tax
• 11:37
  bracket.
• 11:38
  If
• 11:39
  my
• 11:39
  other
• 11:39
  income
• 11:39
  was
• 11:39
  50,
• 11:40
  I've
• 11:40
  now
• 11:41
  taken
• 11:41
  50
• 11:41
  out
• 11:41
  of
• 11:41
  my
• 11:42
  corporation
• 11:42
  that
• 11:42
  has
• 11:42
  this
• 11:43
  200,000.
• 11:44
  I'm
• 11:44
  paying
• 11:44
  income
• 11:45
  tax
• 11:45
  on
• 11:45
  100,000
• 11:46
  as
• 11:46
  opposed
• 11:46
  to
• 11:46
  if
• 11:46
  I
• 11:47
  took
• 11:47
  it
• 11:47
  personally
• 11:47
  and
• 11:47
  paying
• 11:48
  on
• 11:48
  250,000.
• 11:49
  Right,
• 11:50
  right.
• 11:50
  So.
• 11:51
  And
• 11:52
  all
• 11:52
  these
• 11:52
  things
• 11:52
  matter,
• 11:53
  especially
• 11:53
  these
• 11:53
  numbers
• 11:53
  get
• 11:54
  bigger
• 11:54
  and
• 11:54
  bigger.
• 11:55
  It
• 11:55
  really
• 11:55
  matters.
• 11:56
  So
• 11:56
  for
• 11:56
  sure,
• 11:57
  that's
• 11:58
  another
• 11:58
  benefit.
• 11:59
  You
• 11:59
  can
• 11:59
  definitely
• 12:00
  manage
• 12:00
  your
• 12:00
  income
• 12:01
  better.
• 12:02
  And
• 12:03
  now
• 12:03
  also
• 12:04
  again,
• 12:04
  mentality
• 12:05
  and
• 12:06
  mindset.
• 12:06
  So
• 12:07
  you're
• 12:07
  now
• 12:07
  interacting
• 12:08
  with
• 12:08
  people
• 12:08
  in
• 12:08
  the
• 12:09
  industry
• 12:09
  through
• 12:10
  a
• 12:11
  legal
• 12:11
  entity.
• 12:12
  Right.
• 12:12
  So
• 12:13
  it's.
• 12:14
  If
• 12:14
  you
• 12:15
  have
• 12:16
  a
• 12:16
  manager
• 12:17
  and
• 12:17
  they're
• 12:17
  an
• 12:17
  employee
• 12:18
  of
• 12:18
  your,
• 12:19
  your
• 12:19
  corporation
• 12:20
  now
• 12:20
  or,
• 12:20
  or
• 12:20
  they're
• 12:20
  contracted
• 12:21
  with
• 12:21
  you
• 12:21
  through
• 12:21
  your
• 12:22
  corporation.
• 12:22
  It's
• 12:23
  just
• 12:23
  a
• 12:23
  different
• 12:24
  way
• 12:24
  to
• 12:24
  deal
• 12:25
  with
• 12:25
  people
• 12:27
  then,
• 12:27
  you
• 12:28
  know,
• 12:28
  as
• 12:28
  a
• 12:28
  sole
• 12:28
  proprietor
• 12:29
  or
• 12:29
  just.
• 12:30
  Which
• 12:30
  is
• 12:30
  essentially
• 12:30
  just
• 12:31
  you
• 12:31
  acting
• 12:31
  as
• 12:32
  yourself.
• 12:33
  Can
• 12:34
  I
• 12:34
  ask
• 12:34
  you,
• 12:35
  Sorry,
• 12:35
  anybody
• 12:35
  else?
• 12:37
  A
• 12:37
  lot
• 12:37
  of
• 12:38
  people
• 12:38
  tune
• 12:38
  in
• 12:38
  just
• 12:39
  because
• 12:39
  they
• 12:39
  want
• 12:39
  to
• 12:40
  hear.
• 12:41
  Dori
• 12:42
  calls
• 12:42
  them
• 12:42
  nuggets
• 12:43
  of
• 12:43
  information
• 12:44
  that
• 12:44
  nobody
• 12:44
  would
• 12:44
  have
• 12:44
  heard.
• 12:45
  And
• 12:45
  I
• 12:45
  remember
• 12:46
  when
• 12:46
  I
• 12:46
  was.
• 12:47
  I
• 12:47
  Had
• 12:47
  a
• 12:47
  small
• 12:48
  inner,
• 12:48
  like,
• 12:48
  like
• 12:49
  entertainment
• 12:49
  law
• 12:49
  class
• 12:50
  in
• 12:50
  college.
• 12:50
  And
• 12:50
  I
• 12:50
  remember
• 12:51
  just
• 12:51
  our
• 12:51
  minds
• 12:51
  being
• 12:52
  blown
• 12:52
  constantly
• 12:52
  of,
• 12:53
  like,
• 12:53
  that's
• 12:53
  how
• 12:53
  that
• 12:53
  works.
• 12:54
  Do
• 12:54
  you
• 12:54
  have
• 12:54
  any
• 12:55
  examples
• 12:55
  of
• 12:56
  working
• 12:56
  with
• 12:57
  new
• 12:57
  or
• 12:58
  advanced
• 12:59
  artists?
• 12:59
  And
• 13:00
  anything
• 13:00
  that
• 13:01
  you
• 13:01
  find
• 13:02
  that
• 13:02
  a
• 13:02
  lot
• 13:02
  of
• 13:02
  artists
• 13:03
  and
• 13:04
  the
• 13:04
  public
• 13:04
  don't
• 13:05
  know,
• 13:05
  that,
• 13:05
  I
• 13:06
  don't
• 13:06
  know,
• 13:06
  blows
• 13:06
  their
• 13:06
  mind,
• 13:07
  scares
• 13:07
  them,
• 13:07
  confuses
• 13:08
  them.
• 13:08
  Can
• 13:08
  you
• 13:08
  give
• 13:09
  us
• 13:09
  a
• 13:09
  few
• 13:09
  examples?
• 13:10
  I'll
• 13:10
  give
• 13:10
  you
• 13:10
  one.
• 13:11
  One
• 13:11
  example
• 13:12
  that's
• 13:12
  pretty
• 13:12
  common,
• 13:13
  especially
• 13:13
  for
• 13:13
  people
• 13:14
  just
• 13:14
  getting
• 13:14
  into
• 13:14
  this.
• 13:16
  And
• 13:17
  you
• 13:17
  know,
• 13:17
  when
• 13:17
  I
• 13:17
  mention
• 13:17
  this
• 13:18
  to
• 13:18
  a
• 13:18
  lot
• 13:18
  of
• 13:18
  people,
• 13:18
  it's
• 13:18
  kind
• 13:19
  of
• 13:19
  like,
• 13:19
  oh,
• 13:19
  yeah,
• 13:19
  yeah,
• 13:19
  I
• 13:19
  knew
• 13:20
  that.
• 13:20
  But
• 13:20
  they
• 13:21
  had
• 13:21
  no
• 13:21
  clue.
• 13:22
  So
• 13:23
  a
• 13:23
  lot
• 13:23
  of
• 13:23
  people
• 13:23
  don't
• 13:24
  understand.
• 13:24
  We'll
• 13:24
  be
• 13:25
  honest
• 13:25
  if
• 13:25
  we
• 13:25
  knew
• 13:25
  it
• 13:25
  or
• 13:25
  not.
• 13:26
  Yeah.
• 13:27
  So
• 13:28
  in
• 13:28
  music,
• 13:29
  there's
• 13:29
  a
• 13:30
  very
• 13:30
  clear
• 13:30
  distinction
• 13:31
  between
• 13:31
  publishing
• 13:32
  and
• 13:33
  then
• 13:33
  sales.
• 13:34
  Okay.
• 13:34
  Right.
• 13:35
  So,
• 13:35
  you
• 13:35
  know,
• 13:36
  for
• 13:36
  producers,
• 13:37
  when
• 13:37
  they're.
• 13:38
  When
• 13:38
  I'm
• 13:38
  doing
• 13:38
  agreements
• 13:39
  for
• 13:39
  them,
• 13:39
  even
• 13:40
  with
• 13:40
  artists,
• 13:40
  but
• 13:40
  I'm
• 13:41
  doing
• 13:41
  agreements,
• 13:41
  you
• 13:41
  know,
• 13:42
  like
• 13:44
  for.
• 13:44
  For
• 13:44
  an
• 13:44
  instrumental.
• 13:45
  And,
• 13:46
  you
• 13:46
  know,
• 13:47
  there's
• 13:47
  an
• 13:47
  advance,
• 13:48
  you
• 13:48
  buy.
• 13:48
  You
• 13:49
  buy
• 13:49
  the
• 13:49
  instrumental.
• 13:50
  Right.
• 13:51
  But
• 13:51
  the
• 13:52
  producer
• 13:52
  has
• 13:52
  no
• 13:52
  idea
• 13:53
  that
• 13:53
  they're
• 13:53
  also
• 13:53
  entitled
• 13:54
  to
• 13:54
  their
• 13:54
  publishing
• 13:55
  on
• 13:56
  this
• 13:56
  record.
• 13:57
  Same
• 13:58
  with
• 13:58
  the
• 13:58
  artists.
• 13:59
  They're.
• 13:59
  They
• 13:59
  don't
• 14:00
  understand
• 14:00
  that,
• 14:00
  you
• 14:00
  know,
• 14:01
  all
• 14:01
  of
• 14:01
  this
• 14:01
  publishing
• 14:02
  is
• 14:02
  not
• 14:02
  even
• 14:02
  yours.
• 14:03
  Half
• 14:03
  of
• 14:03
  that
• 14:03
  song,
• 14:04
  that
• 14:04
  instrumental,
• 14:05
  goes
• 14:05
  to
• 14:05
  the
• 14:05
  producer,
• 14:06
  and
• 14:06
  then
• 14:06
  half
• 14:06
  of
• 14:06
  it
• 14:06
  goes
• 14:07
  to
• 14:07
  you.
• 14:07
  And
• 14:08
  I'll
• 14:08
  just
• 14:08
  kind
• 14:08
  of
• 14:08
  explain
• 14:09
  that
• 14:10
  what
• 14:10
  that
• 14:10
  is.
• 14:10
  So
• 14:11
  is
• 14:11
  that
• 14:11
  automatic
• 14:12
  or.
• 14:12
  That's
• 14:12
  something
• 14:12
  that
• 14:13
  the
• 14:13
  producer.
• 14:13
  That's
• 14:13
  automatic.
• 14:14
  Okay,
• 14:14
  that's
• 14:14
  automatic.
• 14:15
  So
• 14:16
  the.
• 14:16
  Your
• 14:16
  publishing
• 14:17
  is
• 14:17
  tied
• 14:17
  to
• 14:17
  your
• 14:18
  copyrights,
• 14:19
  right.
• 14:19
  So
• 14:19
  once
• 14:20
  you
• 14:20
  create
• 14:20
  something
• 14:21
  and
• 14:21
  it
• 14:22
  come
• 14:22
  as
• 14:22
  soon
• 14:22
  as
• 14:22
  you've
• 14:22
  created,
• 14:23
  you've
• 14:23
  also
• 14:23
  created
• 14:24
  the
• 14:24
  copyright,
• 14:25
  and
• 14:25
  then
• 14:25
  that's
• 14:26
  captured
• 14:27
  by
• 14:27
  your
• 14:27
  publishing.
• 14:28
  Can
• 14:28
  we
• 14:29
  back
• 14:29
  up
• 14:29
  for
• 14:29
  a
• 14:29
  second
• 14:30
  about
• 14:30
  copywriting?
• 14:32
  As
• 14:32
  soon
• 14:32
  as
• 14:33
  you
• 14:33
  create
• 14:33
  it,
• 14:33
  it's
• 14:33
  yours.
• 14:34
  That's
• 14:34
  something
• 14:34
  that
• 14:34
  I
• 14:34
  think
• 14:34
  a
• 14:34
  lot
• 14:34
  of
• 14:35
  artists
• 14:35
  don't
• 14:35
  understand.
• 14:35
  They
• 14:36
  think,
• 14:36
  and
• 14:36
  I
• 14:36
  did
• 14:37
  this
• 14:37
  too,
• 14:37
  when
• 14:37
  I
• 14:37
  was
• 14:37
  15,
• 14:38
  they
• 14:38
  mail
• 14:38
  themselves
• 14:40
  a
• 14:40
  CD
• 14:41
  back
• 14:41
  then
• 14:41
  just
• 14:42
  to
• 14:42
  prove
• 14:42
  that
• 14:42
  it's
• 14:42
  theirs.
• 14:43
  But
• 14:43
  really,
• 14:44
  as
• 14:44
  soon
• 14:44
  as
• 14:44
  you
• 14:44
  create
• 14:45
  something,
• 14:46
  it
• 14:46
  belongs
• 14:46
  to
• 14:47
  you.
• 14:47
  Yes.
• 14:47
  Right.
• 14:48
  It's
• 14:48
  just
• 14:48
  yours
• 14:49
  because
• 14:49
  you
• 14:49
  made
• 14:49
  it.
• 14:49
  That's
• 14:50
  correct.
• 14:50
  People
• 14:50
  should
• 14:50
  understand.
• 14:51
  Legally,
• 14:52
  that's.
• 14:52
  Legally,
• 14:53
  as
• 14:53
  soon
• 14:53
  as
• 14:53
  you
• 14:54
  create
• 14:54
  it,
• 14:54
  it's
• 14:55
  yours.
• 14:55
  Right.
• 14:55
  I
• 14:55
  don't
• 14:55
  think
• 14:56
  a
• 14:56
  lot
• 14:56
  of
• 14:56
  people
• 14:56
  know
• 14:56
  that.
• 14:57
  Yeah.
• 14:58
  As
• 14:58
  soon
• 14:58
  as
• 14:58
  you
• 14:58
  create,
• 14:58
  it's
• 14:59
  yours.
• 14:59
  Legally.
• 15:00
  As
• 15:00
  soon
• 15:01
  as
• 15:01
  it's
• 15:01
  made,
• 15:02
  those
• 15:03
  copyrights
• 15:03
  attach.
• 15:04
  It
• 15:04
  would
• 15:04
  help
• 15:04
  if
• 15:04
  you
• 15:04
  can
• 15:05
  prove
• 15:05
  that
• 15:05
  it's
• 15:05
  yours
• 15:06
  for
• 15:06
  sure.
• 15:07
  That's
• 15:07
  the
• 15:07
  whole
• 15:07
  mailing
• 15:08
  thing,
• 15:08
  right?
• 15:09
  And
• 15:09
  I,
• 15:09
  and
• 15:10
  we're
• 15:11
  gonna
• 15:11
  get
• 15:11
  on
• 15:11
  some
• 15:11
  tangents
• 15:12
  here,
• 15:12
  but
• 15:12
  I
• 15:12
  always
• 15:12
  tell
• 15:12
  my
• 15:13
  clients,
• 15:13
  like,
• 15:13
  especially
• 15:14
  if
• 15:14
  you're
• 15:14
  a
• 15:14
  songwriter
• 15:15
  or
• 15:15
  something,
• 15:15
  yo,
• 15:16
  email
• 15:16
  yourself
• 15:17
  back
• 15:17
  these
• 15:17
  lyrics,
• 15:18
  right?
• 15:18
  Because
• 15:19
  as
• 15:19
  you
• 15:19
  shop
• 15:20
  them
• 15:20
  out,
• 15:20
  you
• 15:20
  never
• 15:20
  know
• 15:21
  where
• 15:21
  something
• 15:21
  may
• 15:21
  end
• 15:21
  up.
• 15:22
  And
• 15:22
  then
• 15:22
  you
• 15:22
  can
• 15:22
  be
• 15:22
  like,
• 15:22
  hey,
• 15:23
  I
• 15:23
  sent
• 15:23
  it
• 15:23
  to
• 15:23
  this
• 15:24
  person
• 15:24
  in
• 15:25
  2018.
• 15:25
  Here's
• 15:25
  the
• 15:26
  email,
• 15:26
  right?
• 15:26
  And
• 15:27
  email,
• 15:27
  it
• 15:27
  can
• 15:28
  be
• 15:28
  used
• 15:28
  legally
• 15:28
  if
• 15:29
  it's
• 15:29
  a
• 15:29
  server.
• 15:29
  Like,
• 15:29
  you
• 15:30
  can.
• 15:30
  Right?
• 15:30
  Yeah,
• 15:31
  you
• 15:31
  can
• 15:31
  go,
• 15:32
  okay.
• 15:32
  And
• 15:32
  that.
• 15:33
  So
• 15:33
  the
• 15:33
  whole
• 15:33
  mailing,
• 15:34
  you
• 15:35
  know,
• 15:35
  yourself
• 15:36
  your
• 15:36
  own
• 15:36
  CD
• 15:37
  or
• 15:37
  something
• 15:37
  like
• 15:37
  that
• 15:37
  is
• 15:38
  just
• 15:38
  to
• 15:38
  show
• 15:38
  there's
• 15:39
  a
• 15:39
  registered
• 15:39
  mail.
• 15:40
  Just
• 15:40
  proof
• 15:41
  something
• 15:41
  registered
• 15:42
  that
• 15:42
  shows
• 15:42
  this
• 15:42
  was
• 15:43
  created
• 15:43
  on
• 15:44
  this
• 15:44
  date.
• 15:44
  Documentation.
• 15:45
  That's
• 15:45
  the
• 15:45
  only
• 15:45
  proof
• 15:45
  of
• 15:45
  that.
• 15:46
  That's
• 15:46
  the
• 15:46
  only
• 15:46
  reason
• 15:47
  for
• 15:47
  that.
• 15:47
  Sorry.
• 15:48
  So,
• 15:49
  you
• 15:49
  know,
• 15:49
  I
• 15:49
  always
• 15:49
  advise
• 15:50
  clients
• 15:50
  to
• 15:50
  do
• 15:50
  that.
• 15:51
  If
• 15:51
  you're
• 15:51
  sending
• 15:51
  out
• 15:51
  B
• 15:52
  packs,
• 15:52
  you
• 15:53
  know,
• 15:53
  like,
• 15:53
  send
• 15:53
  me
• 15:54
  a
• 15:54
  copy
• 15:54
  as
• 15:55
  well.
• 15:56
  Just
• 15:56
  so
• 15:56
  at
• 15:56
  least
• 15:56
  I
• 15:57
  have
• 15:57
  it
• 15:57
  in
• 15:58
  my.
• 15:58
  In
• 15:59
  my
• 15:59
  office.
• 15:59
  Like,
• 16:00
  on
• 16:00
  this
• 16:00
  day,
• 16:00
  this
• 16:01
  was
• 16:01
  a
• 16:01
  pack,
• 16:04
  so.