The Entrepreneurial MusicianJeffrey Nytch, DMA

Director, The Entrepreneurship Center for MusicThe University of Colorado - Boulder

Means different things to different

people...

Buzzword...Artists are suspicious

of it...

Weird French word.

• Starts something new

• Innovative

• Related to a market

• Meets a need

• Can be for-profit or non-profit

• Be a single person or an organization

• Can be a new approach or paradigm

Entrepreneurial Qualities

Entrepreneurs launch a product, venture or paradigm that applies a

creative solution to an unmet need in the marketplace.

The MARKET will VALUE the PRODUCT thatmeets its NEEDS.

PRODUCT - What do I have to offer?

What are some musical products?

MARKET - Who is my product for?

MARKET #2

What does my market(s) want/need?

How might I fill those needs?

NEED - What is the unmet need?

VALUE - not just monetary

The MARKET will VALUE the PRODUCT that meets its NEED

How do we apply that??

The Entrepreneurial Process1. What do I/we have to offer?

2. Who is my target market, and what needs of theirs can I/we address?

3. Create a solution to fill the need

4. Feasibility

5. Make a plan

6. Deliver with unwavering excellence

The Value PropositionXYZ is a [entity]. Through its

[features], it provides [unique benefits] to [target market].

“Vic’s Coffee is a Boulder-based coffee house. Its gourmet coffee and

convenient, fast service provide a welcoming environment for people

meeting with their friends or a stimulating fix for on-the-go

professionals.”

The Value PropositionXYZ is a [entity]. Through its

[features], it provides [unique benefits] to [target market].

“Jeffrey Nytch is a composer in the ‘classical’ tradition. Through his 20+ years of professional experience and his highly developed craft, he provides music that is

accessible to both the performers/organizations who commission

him and their audiences.”

The Value PropositionXYZ is a [entity]. Through its

[features], it provides [unique benefits] to [target market].

YOU:

Questions/Discussion