The Importance of Business Finance As A Manager

For this blog I decided to talk about the Importance of Business Finance As A Manager. The reason why I chose this topic to discuss is because it is always important to know about numbers when being a manager. It is your job to know how to calculate the numbers as well as be able to predict the outcome of how much the artist will sell. When managing an artist you will have to come up with numbers for all kinds of stuff like how much ticket sales would be when in concert, how much marketing cost, equipment cost, etc.

It is important to have all the finances calculated before planning a tour, live shows, or anything that the artist might do. When you have finances calculated, that is a way to predict how much money needs to be put out and how much profit the artist will gain. When you write everything out before planning, it gives you an insight of how things will turn out. Finances plays a big part when being a manager because it is your job to make sure everything is planned right and make the artist money.

The most important thing in Financing is to always calculate your numbers right so you can make more money than you put out. A lot of things are tied into financing like record sales, tour sales, merchandise, marketing cost, as well as other factors. The program that you can use to calculate these finances is Excel. As long as you know the formulas, excel have the capability of adding the numbers for you. It will also save you time when you know how to use the formulas because once you put the formula in, then everything else will fall into place.

In conclusion, it is important to know how to finance when being a manager. Finance is a big part when being a manager for an artist but you will have to plan out budgets for everything the artist does.