Excerpt

IT TAKES MONEY TO PLAY

You have to know what is happening in the industry if you are serious about this business. If you cut yourself off from the world and spend all your time at home or in the studio trying to create the super album, you will get nowhere...

I see all kinds of people wanting to be in the record business, from professional athletes like Shaq and Allen Iverson to comedians like Eddie Murphy and Jamie Foxx. Actors are singing and singers are acting. It is like people watch TV and read consumer magazines and the next thing you know they want to be in the record business...

Small labels do not blow up overnight. Do your research. If you are fortunate to get such a deal, take it. That can be your payday; however, remember, these people invest big money in attorneys, consultants, and accountants. It's like betting in Vegas: the more you put on the table, the more you collect if you win...

In 1986, I decided I wanted to own my own nightclub. I remodeled an old furniture store and turned it into the Scene Teen Club, a popular venue that generated some good capital. It also allowed me a place to showcase artists as well as scout new talent. That's how I was able to fund my venture. Believe me, it's not easy to get people to invest in your vision...

That's the way the business goes sometimes. It takes people getting into your business and interfering with what you have going on to strengthen your efforts.