If you want to become successful in the music industry, there many  things you need to know and do. But even if you get all that right, you  can prevent yourself from reaching big success by making critical  mistakes along the way (and there are many potential mistakes one could  make, when not being careful). After coaching and mentoring many  musicians and bands seeking a career in music, the same patterns of  false assumptions, problems and mistakes appear over and over again.  Here are the top 10.
Mistake #10 - Not having a compelling image  that is congruent with your music. Most musicians (and bands) severely  underestimate the importance of their image. Yes, music is about  'music', but music business success is about a total package that  includes music, image and visual stage show among other things that need  to be fully developed in a congruent way.
Mistake #9 - Trying to  'get your name out there'. Although this seems to be a main goal of most  musicians and bands, it is the wrong approach to start with. Before  trying to be seen and heard as much as possible, it is often more  important to focus on 'converting' the people who hear and see you into  becoming actual fans. This 'conversion' is the first key to your  promotional success, NOT getting seen or heard as much as possible.
Mistake  #8 - Believing that social media websites are the keys to online music  promotion for musicians and bands. Social media websites are a tool.  They are ONE piece of the online music marketing puzzle. Music industry  companies (record labels, artist managers, booking agents, etc.) are far  more interested in the popularity of YOUR website, not how many friends  you have at MySpace, YouTube, Facebook or any other website that you do  not own and control. Want to impress the industry with your band's  promotion? Build your website traffic.
Mistake #7 - Not investing  enough time into building your music career. Most musicians spend most  of their time on music, but put very little effort into the many other  critical elements needed to make it in the music business. If you are  already a talented musician, you should invest at least 50% of your time  into starting or advancing your music career. If you are still  developing your musical skills, you should still invest around 25% of  your 'music' time into building a future music career.
Mistake #6 -  Surrounding yourself with people who are negative, lazy and lack  ambition. If you are very serious about becoming a professional musician  and building a great career in music, then you absolutely must surround  yourself with like-minded musicians.
Mistake #5 - Having merely  mediocre live performing skills. Many musicians, who are not yet in a  good band, put off developing their live performing and stage presence  skills. This is a big reason why talented musicians don't get into  really good bands that they audition for. Your music may be good, but a  live 'show' requires more than great music. If people only wanted to  hear the music, they would listen to you at home. Both fans and record  labels want (and expect) to see a REAL show. Neglecting this area  results in talented musicians and bands becoming quickly forgotten.
Mistake  #4 - Focusing on increasing the 'quantity' of fans instead of the  'intensity' of your fans. The 'number' of fans you have should always be  your secondary focus (not your primary one) if you want to become  successful in the music industry. The fact is, it is not the number of  'fans' that matters most, it's the number of FANATICS which will  contribute more directly to your success (or lack of it). This is  particularly true in the beginning of a band's music career. Focus more  effort on converting your existing fans into raving fanatics. Learn to  do this and the number of your overall fans will increase through  powerful word of mouth.
Mistake #3 - Not enough cash flow to  support your music career. Like it or not, it takes money to build a  music career. Even if other people/companies are paying for your record,  tour support, merchandise, etc. you still need to have the freedom to  pursue opportunities as they come. Sadly, many musicians miss  opportunities because they can't afford to take advantage of them.In  addition to a decent income, you also need the flexibility of being able  to take time away from that income source to go into the studio, go on  tour, etc. That is why learning how to teach guitar is such a great way  to achieve both if you learn how to become a highly successful guitar  teacher.
Mistake #2 - Not enough depth in your music  relationships. There's an old expression, "It's not what you know, it's  who you know." In music this is often modified to, "It's not who you  know, it's who knows you." The truth is, it's not about either. The most  important aspect of connections within the music industry is how deep  are the current relationships you have now and will develop in the  future. You don't want to simply know people or be known, you want  people who know you to have a real deep connection with you so that you  are always on the top of their mind when opportunities present  themselves. Ask yourself, "What can I do right now to deepen my existing  relationships further on an ongoing basis?"
Mistake #1 - Having a  fundamental misunderstanding about what record companies look for - and  expect from new bands. This is a huge topic, but in a nutshell it's  very useful to think of record companies like a bank that lends money to  people or small businesses. Record companies make most of their  decisions about whom they will work with and what the terms will be in  much the same way that a bank will determine who they will loan money to  and what the terms of the loan will be. Both record companies and banks  basically want to see 3 things:
1. How much value do you bring to  the deal right now.
2. How much risk do you bring with you right now.
3. How much potential value and risk might you bring to them in the  future after they invest in you.
If you want to buy a house, the  bank wants to know a lot about the specific house you want to buy and  EVEN MORE about YOU. Record companies are the exact same, they want to  know about your music, your talent and your band, but they also care as  much (or more) about YOU (and your band mates) as people. What about YOU  makes a record deal a good or bad investment for them.