The biz beyond the shiz

2010-05-01 12:18

Jay-Z has, for the last couple of years, topped the Forbes list of

highest earning rappers – having earned an estimated $35 million (about

­R261  million) last year and his total wealth estimated at ­anything between

$150 million and $250 ­million.

The ‘rap mogul’ founded ­Rocawear for which he made about

$200 million when he sold his stake in 2007, he has been CEO of Def Jam Records,

owns a stake in the New Jersey Nets, co-owns an advertising agency with former

Sony executive Steve Stoute and makes millions as the face of brands ranging

from sneakers to beer.

What a lot of SA artists (and some of those around them) seem to

overlook is that a ­significant amount of what ­individuals like Jay-Z create

revenue from is not only ­music.

They learn about business and surround ­themselves with those who

understand it.

Peter Drucker once said: “In effect, managing oneself ­demands that

each knowledge worker think and behave like a chief executive.”

Thebe Ikalafeng describes all of us as CEOs of our own company –

ourselves – ­regardless of industry, job, etc.

To run this ­company ­effectively, you have to be as meticulous and

focused as you would be if you were running a more ­conventional business.

Art is a business like any other. If all you are ­looking to do is

to be an ­artist, make lots of money and look after you and yours, you have to

be ­systematic in how you develop and position ­yourself.

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