Economics and Imagination

I’ve always been a fan of imagination. Every thing that is, was once a dream. You are probably sitting in a building as you read this. Take a quick look around and think for a moment, once there was no building there. Then somebody said, “hey, maybe I should put a building here, and there will be a door over there and a room here and a hallway”. Before anything exists, it’s a simple dream.

It’s almost like magic… except it takes a lot of work to make dreams come true.

I spent most of this morning working on my next MP3 collection, “Story and Song vol. 1”, and it really got me thinking about my long-term business plan.

I think I’ve been pretty up front about my interest in making “real money money” in Second Life. However, I don’t want to extort it from some venue owner. I’m good with tips because people listening decide if and how much they will tip. They assign a value to what I do and pay me accordingly. I can’t really manipulate how much they will tips. It’s a crapshoot; some days are good, some days not so good. But regardless of the bottom line… it’s money earned.

At this point I’m learning there are only so many shows I can play before I start to fall apart. At first I figured this limit was defined by mental fatigue, but I’m learning there is a physical toll to pay as well. During a particularly busy week, I found my right arm became quite sore. While it’s okay now, I’m aware there are only so many shows I can play. So playing 400 shows a week is not an option for growth. So how do I grow?

Recorded music seems to be the answer.

During the show/listening party I earned as much from sales as I would have if I played four shows for tips, and frankly the sale from that show were not spectacular. For some other artist they might have been, but when I released “Shades of Blue”, between sale and tips for that show I cleared 30,000 L$. Keep in mind that is one show, and I’m still making money off “Shades of Blue”.

Of course selling recorded music is part of the answer, but the methodology of selling it is the big question. My vendors seem to work well. So far I’ve not gotten a single costumer service issue in well over one hundred sales. So the infrastructure is in place to get the job done. So now the issue is marketing the recorded music.

So far release parties seem to do landmark business. 80% of all sales come from release day events. Leaving 20% for impulse purchases at shows. However, this is a short-term perspective. It’s hard to say what old collections will continue to sell and how much. So in time that percentage may become inverse.

The bold new step is the Zorch Center. A shop that sells my MP3 collections 24/7,offers previews, offers group membership and a venue for impromptu shows. The first show proved to be profitable. But since this is brand spanking new, it’s kind of hard to measure the long-term benefit from it.

I’ll admit to groping in the dark as to how to market things. This is probably the major difference between the self-appointed experts and myself. Well… that, and I have some measure of success.

As of now, my best guess as to moving forward is keeping things dynamic.

I remember hearing an interview with Brian Epstein once (The manager of the Beatles) and he said the reason the Beatles did so well is because they were that band that was either in your ear or between them. When you weren’t listening to the Beatles you were thinking about them.

The more you think about someone or something the more invested you get in it.

Frankly this Blog is a shameless marketing tool. As is the Zorch-cast, and the Interactive listening party. Even the MP3 collections are a Marketing tool. Every show is a marketing tool.

You might be saying right now, “Hey Zorch… I thought it was all about the music”?

Well in the end it is. All the effort and planning work toward the end of getting the music I love in front of people that will love it almost as much as I do.

But money does matter. Money allows you to buy your time back and invest it in what you love to do. Money gives the artist a means to practice his or her art. How you earn that money should always be an issue. I present music and people choose to tip me for a performance, and or buy the recorded music. I’m developing an actual market for what I do. I don’t have my hand in anybody’s pocket. And the music is freaking amazing.

Imagination, talent and hard work… what a combination.