Play now; pay later.
That’s the way the marketing world wants us to live, but that does not mean it is a good idea. Here an example of what I mean:
Some musician friends are about to cash in on believing in themselves, and being willing to wait.
The boys are all in their early 20 and their heavy metal band hasn’t made much money, but that hasn’t put them off. They know they are good.
The band has a large following on Facebook and YouTube and over the past three years the members have used their own money to record two albums.
They had to do that because they have not been able to secure a fair record deal with a legitimate label.
There have been offers, but up until about a month ago, only from minor outfits and borderline crooks who have been looking to cash in on the boys without forking out much to promote their music.
Some of the offers must have been tempting since they included some money up front.
The boys have had the good sense, though, to put off their first big pay-day until such time as they were offered a decent deal in return for the right to distribute their albums and take a cut from their live performances.
According to the lawyer who has looked over the latest offer from a leading California production company, what is on the table now is a lot more than just decent.
His response to that offer has been more than decent as well and the motivation behind it seems to be very different from the intentions of the promoters and agents the band has dealt with in the past.
It indicates that, like the band, this man understands the concept of delayed gratification.
The lawyer recognised from the content of the contract that the record company felt they were onto a winner.
He also recognised that the boys would need a lawyer for some serious negotiations in a year or two when they were ready to record and release their third and fourth albums and his response to that was to go for delayed gratification.
The man usually charges about P5000 to comb through a contract, but instead of taking that fee, he decided to give the boys a freebie with the simple request that they think of him first when they next need a lawyer.
In my book that is good business, especially since the lawyer says he would eventually like to specialise in music industry matters.
When you think about it, it is not very surprising that the lawyer acted in the way he did.
Long ago he recognised that if he was willing to put in the work during his secondary education he would be able to get into law school and if he did the work there he would eventually land a high-paying job.
The work probably wasn’t a whole lot of fun, but he got the reward he wanted.
That’s what delayed gratification is, putting in the work now so that you wind up with something you want latter on.
It sounds really simple but it is not an easy thing to do and some people never get the hang of it.
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