What’s your favourite song? And your favourite album? And band?
For me, the answers to all three are linked – God Only Knows…from the album Pet Sounds… by The Beach Boys.
And, as Brian Wilson of The Beach Boys died yesterday, I’m going to use this blog I wrote back in 2016 as this week’s email:
What’s your favourite song? And your favourite album? And band?
For me, the answers to all three are linked – God Only Knows…from the album Pet Sounds… by The Beach Boys.
Now, that might seem an odd choice for a young whippersnapper like me – the album was released (long) before I was born – 50 years ago, to be precise. But it’s true, and this year I’ve been able to see Brian Wilson, the Beach Boys leader who wrote and produced the album (and sang lead on most of the tracks) performing the album in concert. In fact, I’ve liked it so much I went twice in a week…to add to the 10 or more times I’ve seen Brian in the past 15 years!
But, why am I writing about that here? Well. It seems to me that there some big business lessons to be learned from the album and the tour.
Do It Again…while I do something else
Brian Wilson loved creating music but hated touring. So, in 1965 he stopped touring and The Beach Boys drafted in a replacement to cover the concerts. This meant he could stay in the studio – writing, arranging and producing songs with session musicians, leaving only the vocals missing. When the tour finished, the other Boys would come and add their harmonies…and then head back out on tour.
From a business perspective, Brian was creating the systems….and then delegating to others to implement them. He wrote and arranged the songs, and sent his mates out to play them. This meant that the band was making money from the concerts playing the current songs, while Brian was back at home creating the next system, which would then make more money in the future.
Many of us get stuck in doing the day-to-day stuff in our businesses. It needs to be done to service today’s customers, and pay today’s bills. But we’re not moving the business forward. A system lets your team do the day-to-day, while you move the business forward. Just like The Beach Boys.
Good Vibrations while you sleep
Brian released Pet Sounds 50 years ago….and is still earning from it today. I first bought it 22 years after it came out, and have bought numerous copies since (vinyl, tape, CD, DVD surround sound, box sets, etc, etc!). I dare say he makes money every day from the record, even 50 years later, without lifting a finger.
What can you create in your business that can earn you money while you sleep? It could be a book, or an online course. Something you write once but keep earning from for months or years.
Wouldn’t It Be Nice (if they upgraded)?
Like any band, The Beach Boys have some hardcore fans who’ll pay extra cash for a little bit more. Aside from the standard album, I’ve paid for deluxe editions of Pet Sounds (DVD surround sound version, for example!) and a few box sets with outtakes, live versions and glossy booklets.
And then there’s the VIP experience at the concerts. In Manchester this year, I did upgrade my ticket to get the full VIP package – attend the soundcheck, exclusive merchandise, VIP lanyard, and a meet and greet with Brian. Looking at the numbers, the venue was sold out with 2,700 people paying around £50 each. That’s £135,000 in total but there are a bunch of costs. I’m told that a decent rule of thumb is that the band gets around a third of the gross, so let’s call it £45,000. Still, not too shabby for an evening’s work.
But then the VIP package was an extra £275, limited to 50 people. That’s another £13,750. And what did it cost to lay on? They were doing the soundcheck anyway, the merchandise was probably a fiver, and then around an hour of time for the meet and greet. That’s well over £13,000 profit for posing for some photos and signing a bunch of stuff. Nice work if you can get it.
And you know the key thing about the VIP package? It was worth every penny!
And that’s a big thing you can do in your business. Some of your customers will happily pay more for a “better” version of what you do. It might be bigger, faster, or involving more of your time. And it often won’t cost you much more…..but will be of huge value to your customers so they’ll be happy to pay.
So, those are my three lessons from Pet Sounds. Wouldn’t it be nice if you could use them in your business?
If you have any questions, please email su*****@*********************co.uk or give us a ring on 0151 380 8084.
Many thanks
Jon