Transitioning from a freelance music producer into "a company"

[freelancepoolparty]

I'd love to hear feedback on this topic from guys that have experience with it.

Eventually, as freelance music producers we come to a fork in the road. Do we stay where we are at, or do we grow and hire staff?

What has been your experience with making the transition?

A little over a year ago I hired another producer to help with projects, and a few months ago I brought on a 3rd guy as a songwriter/project manager. So far things are good, but the "pressure" really increases when other people's livelihoods rely on your brand.

Would love to hear your thoughts!


Thanks fella's

 

[Cyko]

The transition for me was simple. I hired everyone on a work for hire basis, paid upfront, then later took on those who I liked most as business partners.

 

[Handmade]

No experience yet. I haven't made enough money to hire people on a work for hire basis... But it's getting there. Recently signed a deal for 2 12 track albums, paying decent money upfront as well as nice backend royalties. Just recently also got my first royalty statement of $460, for Q1 of this year. I've been going 50/50 with the artists I'm working with, but might start doing work for hires soon, when one of the big companies I work with needs vocal tracks

 

[freelancepoolparty]

No experience yet. I haven't made enough money to hire people on a work for hire basis... But it's getting there. Recently signed a deal for 2 12 track albums, paying decent money upfront as well as nice backend royalties. Just recently also got my first royalty statement of $460, for Q1 of this year. I've been going 50/50 with the artists I'm working with, but might start doing work for hires soon, when one of the big companies I work with needs vocal tracks

Congrats man! Love it.