Music Industry Jobs And Working Conditions

When you first start out in the music industry, especially as a performer, there is a certain level of romance about playing in a smoky club and using a dingy storage closet at your changing room. You think that you are paying your dues and will eventually make it big and can then look back on these simpler times with nostalgia. Never mind the fact that your working conditions are uncomfortable and can even be dangerous.

Music industry jobs working conditions vary from state of the art concert halls and recording studios to grungy basements and run-down clubs. However, as soon as you declare yourself to be a working industry professional, you and your health are protected by OSHA standards. OSHA stands for occupational safety and health administration and is the branch of the federal government that ensures your working conditions are safe.

In order to assure that your music industry working conditions are safe for you, you need to know your rights under OSHA. This means that regardless of where you are playing or what you are getting paid you should have a safe place to change and store your equipment. You should have easy access to drinking water and a clean toilet facility. You should be allowed adequate breaks during your working time; industry standard is generally ninety minutes of playing and fifteen minutes of break. If you feel that equipment or infrastructure is unsafe you should be able to report it to your building contact without fear of breaching your contract.

Music industry jobs working conditions don’t have to be as bad as they are as long as every musician, from the kid with his first live gig to the veteran performer, band together to demand safe and clean working conditions so that they can produce the best music possible.

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Working Manager Vs Managing Manager

When you open up your small business, one of the questions you need to ask yourself is do you want to be a working manager or a managing manager? A lot of people start thinking, what does that mean? What and how do I benefit from this? Which way should I go? The real question is, what direction do I take the function of my managing business?

A working manager is someone who gets his or her hands in every area of the business and does everything. From meeting people, marketing, to even throwing out the trash. A managing manager is some who tell people what to do where to go and how to do it.

At the beginning of all small business, the working manager is the way to go but as your company grows a managing manager is what you end up doing. Now it depends on your business and what direction you want it to go with your small business.

I’ve seen a lot of one-person businesses grow and thrive by one person and the business is about 5 to 10 years old and that is good. But I’ve also seen small business going into a 10 person operations and that is good also.

You must and see all aspects of your business. You must look at the future of your business and see where it is going. Or you also have to think, do I keep it as a one-person operations or do I start hiring people to cover all areas of my business. Again, it depends on the nature of your business.

Example: I’ve seen a one-bake shop person go into a 15 person operations. I’ve seen a one assistance type of business stay at a one-person operation. I’ve seen a one-person business card dealer stay as a one-person operation and I’ve seen a basket making business going to a 5-person operation.

The list goes on and on, I’ve spoken to all of these business owners and they made a business decision when they had to, from going to a one-person operation to a 20 person operations.

But all of them have told me, that they started as a working manager and they let the nature of their company grow to what ever operations they needed to go.

Benefits of being a working manager, is that you control everything and you see what is going to happen and you are responsible for all of it. The benefit of a managing manager, you have staff that does it all for you and they take charge of the duty and job and you just over see what is going on.

No matter what direction you take, there is no mistake here. Only that you let the nature of business go in the direction it needs to go. When you allow that, it will flow easily and you will get it right.

The decision is yours, working manager or managing manager. Which one is your method of working with business?

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Working Capital Management

Financial management decisions are divided into the management of assets (investments) and liabilities (sources of financing), in the long-term and the short-term. It is common knowledge that a firm’s value cannot be maximized in the long run unless it survives the short run. Firms fail most often because they are unable to meet their working capital needs; consequently, sound working capital management is a requisite for firm survival.

About 60 percent of a financial manager’s time is devoted to working capital management, and many of the potential employees in finance-related fields will find out that their first assignment on the job will involve working capital. For these reasons, working capital policy and management is an essential topic of study. In many text books working capital refers to current assets, and net working capital is defined as current assets minus current liabilities. Working capital policy refers to decisions relating to the level of current assets and the way they are financed, while working capital management refers to all those decisions and activities a firm undertakes in order to manage efficiently the elements of current assets.

The term working capital originated with the old Yankee peddler, who would load up his wagon with goods and then go off on his route to peddle his wares. The merchandise was called working capital because it was what he actually sold, or “turned over”, to produce his profits. The wagon and horse were his fixed assets. He generally owned the horse and wagon, so they were financed with “equity” capital, but he borrowed the funds to buy the merchandise. These borrowings were called working capital loans, and they had to be repaid after each trip to demonstrate to the bank that the credit was sound. If the peddler was able to repay the loan, then the bank would issue another loan, and these were sound banking practices. The days of the Yankee peddler have long since pasted, but the importance of working capital remains. Current asset management and short-term financing are still the two basic elements of working capital and a daily headache for the financial managers.

Working capital, sometimes called gross working capital, simply refers to the firm’s total current assets (the short-term ones), cash, marketable securities, accounts receivable, and inventory. While long-term financial analysis primarily concerns strategic planning, working capital management deals with day-to-day operations. By making sure that production lines do not stop due to lack of raw materials, that inventories do not build up because production continues unchanged when sales dip, that customers pay on time and that enough cash is on hand to make payments when they are due. Obviously without good working capital management, no firm can be efficient and profitable.

Statements about the flexibility, cost, and riskiness of short-term debt versus long-term debt depend, to a large extent, on the type of short-term credit that actually is used. Short-term credit is defined as any liability originally scheduled for payment within one year. There are numerous sources of short-term funds, such as accruals, accounts payable (trade credit), bank loans, and commercial paper. The major elements of current liabilities are trade creditors and bank overdrafts, and these are further analyzed.

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