Living the Dream : Building a Sustainable Career in the Performing Arts

"Living the Dream: Building a Sustainable Career in the Performing Arts offers an accessible guide to understanding one's arts career as a business. This essential companion to the inner workings of the arts world begins with defining the dream, including how to conceive mission statements, branding and business plans. Part two covers sharing the dream with others through social media, networking, and working with agents or artist managers. Part three offers an overview of the financial aspect, including budgets, taxes and managing risks. Part four concludes by discussing the realities of an arts career, including work-life balance, preparing for the future, and managing mental health. This practical and insightful overview is a must-have companion for aspiring and early career professionals in the performing arts, as well as students on a range of Arts courses, including Music Business, Entrepreneurship and Career Skills classes"-- Cover Endorsements Page Half Title Title Page Copyright Page Table of Contents Introduction About You About Us Part I: Defining the Dream 1 Your Career as a Business What it Takes for a Career Adopting Best Practices Understanding the Roles You Will Play Vital Record Keeping Developing Self-Reliance Finding the Balance Between Your Outer Adult and Inner Child Performance Reviews Portfolio Careers 2 Mission Why Mission is Important Assets and Deficits A Mission Exploration Values Questions to Consider Elements of a Dynamic Mission Statement Vision Writing Your Mission/Vision/Values Statement 3 Branding Brand Identity SWOT Analysis Building a Branding Platform Competitive Landscape Final Thoughts on Branding 4 Creating Business Plans Strategic and Tactical Planning Short- and Long-Term Goals Strategic Plan Statements Goals, Tactics, and Timelines A Business Plan Template Review, Assessment, and Revision 5 Support and Accountability Creating a Board of Advisors Working With Your Board Evaluation and Evolution of Your Board Further Reading and Resources on Defining the Dream Part II: Sharing the Dream 6 Facing Outward While Grounding Inward Appropriate Professional Communication Getting Your Materials in Order Performance Resumés Curriculum Vitae (CV) Work Resumés Bios Repertoire Lists Quote Sheets Pictures Audio and Video Files Websites Social Media 7 Business and Artistic Relationships Networking Setting up Productive Professional Relationships Expectations Boundaries Chemistry What to Look for in Specific Relationships Teachers Musical or Vocal Coaches Other Collaborators How to Cleanly End Unproductive Professional Relationships 8 Key Allies Mentors, Colleagues, and Role Models Collaborators Patrons and Benefactors Agents and Managers About Contracts Union Affiliations Philanthropic, Topical, and Developmental Support Organizations Further Reading and Resources on Sharing the Dream Part III: Financing the Dream 9 Budgets (ugh!) Fixed Expenses Variable Expenses Periodic Expenses Budget Templates Take on the World... 10 Liabilities, Assets, and Net Worth...oh my! Liabilities Assets Liquid Assets Illiquid Assets Personal Use Assets Net Worth Balance Sheets 11 Savings Reasons for Savings Emergency Fund Home Down Payment Children’s Education Fund Other Mid- to Short-Term Savings Goals Retirement Different Savings Vehicles for a Smooth Ride to Financial Success Bank Accounts Bonds Stocks Mutual Funds 12 Managing Your Risk What Are Life’s Biggest Risks? The Risk of Damage or Loss Car Insurance Homeowner’s Insurance The Risk of Illness or Disability Health Insurance Disability Insurance The Risk of Dying Too Soon Life Insurance The Risk of Living Too Long Annuities, Retirement Planning, Smart Investing The Risk of Being Sued 13 “Nothing is Certain Except Death and Taxes” Taxes Deductions Above the Line Deductions Below the Line Deductions Retirement Savings Plans for the Self-Employed Traditional IRA Roth IRA Simplified Employee Pension Tax Credits Foreign Tax Credit Child and Dependent Care Credit Education Credit Child Tax Credit 14 Plan Your Estate/Leave a Legacy The Will Living Will and Advanced Directive for Healthcare Durable Power of Attorney Legacy 15 Organizing Your Dream Business LLC Partnership (General or Limited) S-Corporation C-Corporation Further Reading and Resources on Financing the Dream Part IV: As Dream Becomes Reality 16 Career/Life Balance—At Home Choosing a Home Base Life in the Artistic Hub Basing Your Career Elsewhere Working and Living Globally Supporting Yourself Day Jobs Expanding Your Portfolio Setting Boundaries Managing Daily Life While Working 17 Career/Life Balance—On the Road What to Expect as a Working Performer Before You Arrive Rehearsal Process Other Obligations Lodging Maintaining Your Health and Well Being Getting Re-Hired 18 Facing the Future Assessments and Benchmarks Reconnecting with Mission Stuff Happens—Cultivating Resilience Is it Time for a Bigger Pivot? Pivots within the Industry Artistic Leadership Positions Artistic Support Positions Production Management Becoming an Ensemble Performer Administration Artist Management Teaching Pivots Outside the Industry Final Thoughts on the Future Further Reading and Resources on the Dream Becoming Reality Conclusion: Keep Dreaming! About the Authors Index Living the Dream: Building a Sustainable Career in the Performing Arts offers an accessible guide to understanding one's arts career as a business. This essential companion to the inner workings of the arts world begins with defining the dream, including how to conceive mission statements, branding and business plans. Part II covers sharing the dream with others through social media, networking, and working with agents or artist managers. Part III offers an overview of the financial aspect, including budgets, taxes, and managing risks. Part IV concludes by discussing the realities of an arts career, including work/life balance, preparing for the future, and managing mental health. This practical and insightful overview is a must‐have companion for aspiring and early career professionals in the performing arts, as well as students on a range of arts courses, including Music Business, Entrepreneurship, and Career Skills classes.