For any hoping to break into the Music Business should do so mentally prepared to take on all the positive and negative factors that make up an artist career. That being said, there needs to be a certain "Mind Set" musician and entertainers alike should have and live by.

So what is this "Mind Set" ? I'm an entertainer, and my mind set is to entertain through creative expression as it should be right? Yes, that is right, but that shouldn't be were it stops. Which brings me to my fist point in "The Music Business Mind Set":

1.) You are a Business! In every aspect and in every way as an artist you are a business and therefore need to think of yourself as such.                           Yes, you look great and have a very unique talent, but as an artist you have the potential to generate millions, thousands, and even billions of dollars ( well you have to be really really good to generate the later, but hey I'm being optimistic here ). So you have to carry the "Mind Set" that you are a business if you plan on having any longevity in the Music Business. What I mean by , "You are a Business", is basically the strategies and tactics you use outside of your talent to help market your talent or your career. For example, Beyonce Knowles is not only a recording artist, she also has a clothing line, a perfume, she writes for other artist, gets involved charity, she does endorsements, and does movies. She clearly carries herself as a business and this "Mind Set" has made her who she is today. So a good understanding of the Music Business and business management in general may work to your advantage.

2.) Have an understanding of Business Management . Oh great! So now your saying I have to learn business management too? So should I enroll in a four year business degree program and take more time from the creative aspect of my career? No, I'm not saying you have to invest in further education in business management ( at least not monetarily ). However, I am saying that having this knowledge will put you on the fast track to success. Moreover, It's more important to have a good understanding of how " Music Business" works. I say this for a couple of reasons:

•  Having this knowledge will protect you from getting screwed by record label executives, managers , agents, and lawyers. There are far to many horror stories in the Entertainment/ Music Business about artist who get screwed or go bankrupt because they didn't know what a "cross-collaterization clause" was, or what a "reserve" is or how royalty computations work. You make more when you know more. So know the Music Business and protect yourself and your career. 
• Another great benefit to knowing the Music Business is that it gives you stronger negotiating power. When you understand the Entertainment/Music Business lingo, your far more prepared to communicate exactly what you want in terms of contracts. Furthermore, the more you understand the Entertainment/Music Business the more you understand how to market yourself. You may be a singer who wants to sell one million records, but it may also behove you to know that you could break into songwriting for film, or maybe starting a digital record label for ring-tones. As I said before,"You are a Business" and as with any business marketing is your key to success. However, if you don't understand the Entertainment/Music Business or understand that "You are a Business", well lets just say you'll have a sure spot on the "notorious list"........So what's this "Notorious List"? It's the " One Hit Wonder" list ( try to stay clear of this list ). But I'm sure after you done following my articles you'll be an Music Business Expert smacked clearly at the top of the list you want to be on, which is the " A - List ". 

Now I know that most artist don't like business. Not that there not good at it, some are very very good at it ( though there are not to many of these guys in the industry ). It's just they like to spend there time mainly on the creative process which is not a bad thing. For that reason, you as an artist have to assemble a team to handel the business aspect of things for you ( don't worry I'll go over this in my next article ). So you as an artist can focus more on creativity.

3.) Work Efficently! This is another "Mindset" that needs to be in place in the beginning. When your successful you can get away with sloppy business operations that may otherwise bankrupt you in bad times. For example, putting all your best buds on your payroll, and buying your whole family new cars and houses. Sometimes even the successful suffer in the end by running their Music Business operations in this way ( we won't say any names ). Did someone say, "Mc Hammer"? ( shame on you ! )

So be smart with your money. Don't go crazy with your advances from the record label. It's been proven that you can make more cash by budgeting than you can by earning more income.

4.) It will one day come to an end. Last but not least , and as bad as I hate to say this, you need to be metally prepared for this.

Your Career will not last forever.

Yeah, Yeah, I know it sucks but it's the truth and it's better you prepare yourself now. From what I've found in my own research in most careers you can expect a professional life of about 45 years. Unfortunetly, in the Entertainment/Music Business this dosen't ring true for most artist. Partly because of this fact is why you can now catch Hip Hop artist such as Africa Bambadda, Curtis Blow, and the Sugar Hill Gang( and if you don't know who these artist are it just proves my point ) still on tour ( as old as they can be ) trying to work the stage just to earn another dollar.

Therefore, if your prepare yourself now you should be ok with knowing that what you earn today may be what you have to live the rest of your life off of.