Profits differ from net income, and no where is there clearer than for small business owner-operators, artists, and creatives. Just because you have a certain amount of money left over after covering expenses doesn’t mean you’ve made profits. Why? Because you have to factor in the cost of your labor and the risk you took and so after factoring that in, millions of small businesses and artists and creatives are operating with little to no profit. However, it doesn’t have to be this way and so we wanted to create a space where sharp entrepreneurs and creatives could come together and discuss the challenges to profitability and potential solutions. If you have something valuable to add to this conversation that can help others achieve profitability, please reach out to us as we want to get your ideas in front of our readers.

Calvin Sowah

Building a sustainable brand in New York’s nightlife industry is particularly challenging due to the intense competition. Each company aims to be known for hosting the “best” parties with large crowds, high spenders, and top-tier talent. However, every element that makes an event memorable—the venue, performers, decor, photography, videography, and social media presence—comes at a cost. Within my company, I’ve implemented three core strategies to achieve profitability and growth. Read more>>

Kevin Katich

This question is two-fold, as the music industry and the private education business have their own individual set of challenges. In the context of the music industry at large, there is no blueprint for success. There is no one-size-fits-all route and opinions will vary from person to person in regards to how success within the industry can be achieved. What I have discovered is that every musician’s path is unique and you have to be prepared to view your own journey as an individual work in progress that will ultimately test your judgment. I’ve learned to take advice with a grain of salt. Read more>>

Jay Pitts

I would say the biggest Challenge to profitability in the music business is streaming revenue. Around 2015 the streaming era really began when music consumers were transitioned from buying their favorite artist’s singles and albums outright, whether in a physical store or digitally on iTunes, to paying one premium per month to access all music on Spotify, Apple Music, or other streaming platforms. Read more>>