Using the 80/20 Rules To 10x Your Bands Productivity, Opportunity, and Revenue

Explicit content warning

07/14/20 • 52 min

You're wasting your time. You're spinning your wheels, grinding away, working harder than you've ever worked before - but it seems that for every inch you gain, you lose a mile.
Let me introduce you to the answer for your problems: The Pareto Principle!
Vilfredo Pareto, realized something astounding. In his case, it was the 80% of the land (in Italy) was owned by 20% of the population. Fast forward a little bit, and this has become one of the most fundamental and established business principles in existence. Now thought of in this simple form: 80% of the effects comes from 20% of the causes.
But wait - how does this relate to being in a band?
Not only does it relate to being in a band, it relates to EVERYTHING! You can take this principle and apply it to your homework, personal life, work life, you name it. And yep, you can definitely apply it to your bands career!
My favourite way to think of it is in regards to productivity. What is taking up 80% of my time, but only giving me 20% of the my desired results. Or vice versa: what is only taking up 20% of my time, but getting me 80% of my results?
Applying this principle, and the realizations that come along with it, can be extremely transformative.
The most famous example scenario that is commonly given is for a sales person to realize that 80% of their revenue is coming from 20% of their clients. This is huge. A realization like that makes it clear that you need only do one thing: focus on the 20%. Focus on the 20% and your business will explode in growth!
But first, we need to figure out how to apply this principle to being a musician, and we've done exactly that in this weeks episode of the Your Band Sucks (At Business) podcast!
Stuff We Use / Affiliate Links:
Distrokid (our recommended music distribution service): https://distrokid.com/vip/seven/567702
Microphones: Shure SM7B: https://amzn.to/2yN3UHQ
Apollo Twin Interface: https://amzn.to/2xQMABn
Close.IO (Malcoms recommended CRM): https://close.com/?via=YourBandSucks
Transistor.FM (A great podcast hosting platform): https://transistor.fm/?via=Ybs
BackBlaze File Backup Services (Malcoms recommend data backup service): https://secure.backblaze.com/r/02hb3n

Malcom started a DIY Recording Youtube Channel and you should go subscribe and check out the videos! You can check it out here: https://www.youtube.com/@malcomowenflood
And Marcus is killing it on the road with multiple bands! Keep up to date with him via his website, here: https://www.marcusmanhas.com
As always, we love hearing from our listeners! Hit us up on our instagrams!

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Previous Episode

What Should Your Marketing Budget Be?

'How much should my marketing budget be, and what should I spend it on?'
Well, as you might be able to imagine, that is a really hard question to answer, especially if I'm trying to communicate with you over instagram dm's.
But what Marcus and I did think would be helpful was to outline how you can go about determining the answer to these questions for yourself. Give a man fish and he's fed for a day, but teach him to fish and.... you get the point!
In this episode you will learn:

How to estimate a marketing release
How to maximize the potential of your marketing
When to NOT invest in some types of marketing
Why you might be better off focusing on what you can handle inhouse
Spotting superpowers among your own team
and much more!

In this episode we mention:

Adrian Sousa (did music videos for us and now has a great YouTube Channel called Rabona TV - https://www.youtube.com/channel/UCrMBj7sGZzchChh1dDpsJgg
Spiritbox - https://www.spiritboxband.com (and here is a link to our episode with them: https://www.yourbandsucksatbusiness.com/podcast/11)
Kevin Moore - Soft Surrogate - Graphic Designer - http://www.softsurrogate.com
Adam Jones / Tool - https://toolband.com
Stinging Belle - Rock band who suggested Soft Surrogate to us https://open.spotify.com/artist/6ieJaSjZTtNouLbW0vPhwC?si=E9GDZ6_URkCn812ojo_0Kg
Summer Rain (Band from qualicum who suggested the topic for this episode): https://musicsummerrain.com
Stuff We Use / Affiliate Links:
Distrokid (our recommended music distribution service): https://distrokid.com/vip/seven/567702
Microphones: Shure SM7B: https://amzn.to/2yN3UHQ
Apollo Twin Interface: https://amzn.to/2xQMABn

Close.IO (Malcoms recommended CRM): https://close.com/?via=YourBandSucks
Transistor.FM (A great podcast hosting platform): https://transistor.fm/?via=Ybs

BackBlaze File Backup Services (Malcom's recommend data backup service): https://secure.backblaze.com/r/02hb3n

Support the show

Next Episode

Kicking Out Band Members

It's like breaking up with your significant other, but worse. Not only are they likely one of your best friends, but you have to tell them that they (not any of the other band members) are the one being asked to leave. Adios amigo, but you didn't make the cut.
There is almost no way to make this an enjoyable experience, but you can at least try. And the reality is that firing a band member could be the make or break point of your bands career.
There is a phrase that goes around the musical community that says, "your band is only as good as your drummer', (It's true by the way). What that really means is, you're only as good as your weakest link (which is also true).
But before you go grab your pitch forks and begin the witch hunt to eliminate the bass player who hasn't remembered his bass for the last three shows in a row, listen to this episode so we can discuss the finer points of why, and when, you might need to consider it.
The fact of the matter is that there will always be a weak link. If someone is the best, it means someone else is the worst - but that doesn't mean they are bad, or that they are a problem.
We are certainly not endorsing any type of prejudice on whomever screwed up at the last show (I bet it was the bass player..)
But there certainly can be occasions when push has to come to shove, and this episodes here to help you navigate what that might look like, and how you can make it a more enjoyable experience for all parties involved.
Stuff We Mention In This Episode:
The 6 Figure Home Studio Podcast
Band of Rascals
Stuff We Use / Affiliate Links:
Distrokid (our recommended music distribution service): https://distrokid.com/vip/seven/567702

Microphones: Shure SM7B: https://amzn.to/2yN3UHQ
Apollo Twin Interface: https://amzn.to/2xQMABn
Close.IO (Malcoms recommended CRM): https://close.com/?via=YourBandSucks
Transistor.FM (A great podcast hosting platform): https://transistor.fm/?via=Ybs
BackBlaze File Backup Services (Malcoms recommend data backup service): https://secure.backblaze.com/r/02hb3n