Read Time: 3 minutes
A big thank you to our sponsors who keep this newsletter free to the reader:
Today’s issue is sponsored by HRDRV. Experience the first community-based record label. Everything you need as a musician – all in one place! That’s HRDRV! Sign up today!
1. The backtracking process is similar to reverse engineering, giving you a deeper understanding of how to make your client’s business models work.
2. Backtracking is a process of deconstructing a business creation to create a business process.
3. There are 4 reasons why managers should use the backtracking process including spending less money.
4. The backtracking process takes the guesswork out of trying to figure out if an idea works.
In today’s newsletter, I want to talk about the backtracking process and 4 reasons why you should use it with your artist client.
The backtracking process is known in the engineering world as reverse engineering.
It involves an engineer taking a product apart to gain knowledge about it.
There are many reasons why a company might reverse engineer its products, including a desire to fix, recreate, or test them.
In artist management, the backtracking process serves a similar purpose.
Learning more about this practice and its purpose can help you develop the skills to think critically about your client and how you can create sustainability for their business.
You may have been frustrated with figuring out everything from rolling out releases to rolling out merchandise.
Well, the backtracking process will definitely improve your efforts.
Let’s get into it.
So, what exactly is the backtracking process?
The backtracking process is the process of deconstructing a business creation to create a business process. The process can also reveal more about the business model’s design.
There are 4 reasons why you should use the backtracking process for your artist client’s business:
1. It helps you find better solutions.
2. You will spend less money.
3. You can duplicate your processes.
4. It increases your value as an artist manager.
The power of the backtracking process lies in its ability to strengthen your business model for your client’s creative idea. It takes the guesswork out of trying to figure out if an idea will work or not.
I am going to demonstrate the power of the backtracking process using my former client, Romero, as an example.
The backtracking process helps you find better solutions.
My client, Romero, wanted to support his release with an exclusive “capsule bundle” that included custom merchandise, a vinyl version of the album, and a VIP ticket to his album release concert. It was the first time he was planning something like this.
With a release date set for 6 months out, we came up with a simple solution, laid out in the following diagram:
Romero and I figured out what we needed to accomplish every month. Starting from the release date, we worked backwards, laying out all of the steps needed to get us to the launch date.
We then tapped into our combined network – from graphic designers to venues to web designers – all in an effort to get the work done in order to launch the capsule bundle in 6 months.
The backtracking process allows you to plan, causing you to spend less money.
With a release date 6 months out, Romero and I knew what we needed to accomplish each month.
We knew what we wanted to see, but the budget was tight. We knew that creating assets could be costly in both time and money.
Below are the creations we determined we needed:
Romero and my combined network offered us discounts on both goods and services. Some of them, because we were asking during off-times, were done and given for free.
The budget was $12,500, which included production.
We ended up being under budget at $8,700.
The backtracking process allows you to duplicate your business model processes repeatedly.
With this, you can use the same framework for other business models and strategies. From releases to merch drops and even planning unique fan experiences, the backtracking process gives you a working knowledge of how the business model works.
Strategies form duplicatable processes.
Romero and I used the backtracking process to turn a creative idea into a viable business model, with a strategy laid out just like the framework shown below:
We later used the same framework for two more releases as well as his book.
The backtracking process can increase your value as an artist manager.
As mentioned in my previous newsletter, the speed at which you can turn a creative idea into an executable business model is what builds your value to your client.
Through my work with Romero, I created a roadmap and provided direction with a specific result in mind. Ultimately, all successful artist business development follows the same format:
By using the backtrack process and framework, Romero’s “capsule bundle” generated $151,377 and acquired 3,458 additional email subscribers in less than 2 weeks.
The backtracking process works.
I hope this helps.
✋🏾When you’re ready, there are 3 ways I can help you:
1. Schedule a 1:1 Growth Strategy Call with me on growth, strategy, content, and monetization.
2. Promote your business to 500+ artists, artist managers, and founders by sponsoring this newsletter.
3. Here on my website, I have resources that can help. Check out The Playbook for more information.