structures. It provides limited personal liability for the members, like a corporation, while
providing much of the flexibility a partnership enjoys. There can often be tax benefits
with LLCs and it has the advantage of profits being passed through to the members. Al-
though a lawyer is required to set one up, the cost to do so is usually less than a C-Corpo-
ration. Like a corporation, though, there is typically more paperwork and documentation
involved once the structure has been set up.
Managers and Agents
Defining the difference between a manager and an agent can be a can of worms because
of the potential for functional crossover between the positions. In other words, they can,
at times, do the same things.
A manager is, arguably, the most important advisor on your team. It’s their job to di-
rect and guide the overall development of the act. From deciding what you’ll wear and
play on stage to choosing a producer for a recording, hiring a photographer for a shoot,
giving advice about your best bets for attorneys, accountants and other advisors and
pretty much everything in between, your manager is something like the act’s parent. They
provide advice, guidance, suggestions and direction to help your act grow, expand and
evolve into the money-making machine it’s meant to be. Managers want nothing more
than to see your act or band develop into a massive money-making machine because
they’re typically paid on commission, usually between ten to twenty percent of overall
earnings. That means everything–CDs, live shows, merchandise, etc. The whole ball of
wax.