AIM CONNECTED 2021 Thank you to everyone who joined us for our flagship conference, AIM Connected 2021! A total of 3,000 attendees took part in the event from 70 countries.
In case you missed AIM CEO Paul Pacifico's opening speech, submissions are now open for the AIM Awards 2021! Get yours in via www.aimawards.co.uk
We hope you enjoyed all of the Strong Opinions, panels, workshops, and networking sessions. Here are some of the things we learned (we'll be sharing the advice and recordings with our members soon!)
INSIGHTS
Investment and innovation
Investment and innovation were key themes of the day, as well as the opportunities and importance of access to capital for many independent businesses at different levels.
"If you want access to money or customers, the person on the other side of the table has to trust you. Social capital is having that trust and knowing how to get it." Alice Hu Wagner, MD Strategy, Economic and Business Development, British Business Bank
"Before approaching an investor, make sure you can demonstrate the value - investors must see that potential in your business. If you're just doing a project, e.g. releasing a single song or an album, looking at crowdfunding or artist services deals might be better." Jenny Tooth OBE, CEO of the UK Business Angels Association
"When we asses an offer we primarily consider the roster and release plan. For us music always comes first - we will offer the experience and expertise, so that could be a difference from angle investors. We don't just look at existing data, but how projects developed. We also notice how different genres grow at different rates, and we take that into consideration." Malena Wolfer, Head of Artist Services, Believe UK
"The moral of the story is - no matter how successful you appear out outwardly, it is not easy to fundraise for Black organisations and sometimes you have to take the bull by the horns and create the infrastructure yourself." Yvette Griffith, Co-CEO, Jazz re:freshed
"We have a healthy ecosystem of small [music] business who have shown themselves to be an innovation engine." Jamie Njoku-Goodwin, CEO of UK Music
Josh Siepel, Senior Lecturer, SPRU said: "Music competes with the pharmaceutical industry in terms of innovation" and went on to talk about a research project in the works with AIM to support the evidence that music is not a risky investment.
Diversity and progressive independent businesses
The importance of having a diverse and inclusive workforce, which has been proven to lead to a happier, more productive and profitable business, was stressed throughout the day in various sessions.
Robin Millar CBE, Chair of Chrysalis Group and Blue Raincoat Music, on the importance of hiring employees with protected characteristics for your business: "In Accenture's analysis of 140 companies, those leading on disability are reporting 20% higher revenue, and 30% higher economic margins...Hiring people with disabilities is a no brainer."
Marsha Ramroop, Founder of Unheard Voice on unconscious bias and how really listening to people is the key to understanding them: "The eagerness to label all bias as unconscious could allow us to evade responsibility for the harm it causes…The most academically robust way to increase diversity is to increase your cultural intelligence [rather than unconscious bias training]."
Optimism and progression
With many independent experts addressing the conference having overcome significant barriers to achieve success in their businesses, there was a theme of optimism and inspiration in many of the day's sessions.
"We're starting to see more women as part of the independent infrastructure by starting management companies, labels, music publishing companies, leading trade associations producing and mastering records." Molly Neuman, President, Songtrust
"Follow your dreams and desires - not someone else's. 'Be the CEO your parents wanted you to marry.' These quotes inspired me to pursue my dreams and believe in myself… All of you here in this virtual room today have the power to be an entrepreneur". Chantal Epp, Founder, ClicknClear
We hope you got as much out of AIM Connected 2021 as we did.
If you enjoyed today, why not check out 'Audience of the Future', a series of events bringing together creative businesses, researchers and technology experts. AIM's COO, Gee Davy, is speaking on the panel 'Audience Research: Landscape of a Pandemic', examining the effect of Covid on different creative industries at 15.50 on Thursday 18 March. Check out the free event here.
Once again, thanks for tuning in, and thanks for being part of the independent community!
AIM
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