Challenge · 5 Days · Advanced
The Deal Memo Simulation Challenge
Step into the CEO role and negotiate your terms.
This five-day simulation challenges you to think and act like the CEO of your artist business. You will define your objectives, analyze a sample deal, and draft a counter-offer that aligns with your long-term vision.
The plan, day by day
- Day 1Write a clear, one-paragraph mission statement for your artist business. What is your ultimate vision beyond music (e.g., 'To build a media company funded by our art')?
- Day 2Based on your mission, list and rank your Top 3 priorities for any partnership deal. Examples: 1. Retain 100% of master rights, 2. Secure a guaranteed marketing spend, 3. A short contract term with options.
- Day 3 (AI Step)Find a sample 'record deal term sheet' online. Use an AI assistant to explain three complex clauses, such as 'recoupment,' 'controlled composition,' and 'options.'
- Day 4Using the sample term sheet, write a 'redline' memo. For at least three clauses, state your counter-offer based on the priorities you set on Day 2. (e.g., 'Clause 5.1: Propose changing royalty rate from 15% to 18% of PPD.')
- Day 5 (Emotional Resonance Step)Write one paragraph intended for the opening of a letter to a potential business partner. Do not mention your music's sound; instead, describe its emotional function and the market opportunity that function represents.
