On April 27th, we had the pleasure of hosting David Stenmarck and Andreas Liffgarden, two of Amplify's co-founders, at another one of our AMP Talks.
If you didn't have the chance to attend yet, AMP Talks is a series of events with influential and successful speakers in the music and technology industries, hosted by Amplify.
This time, we invited David and Andreas to share their stories from starting successful businesses in the music tech industry, as well as some advice for all the starting entrepreneurs in the audience.
David is a music entrepreneur and composer with a passion to build businesses. His most successful one is probably Epidemic Sound - a platform that allows companies and individuals soundtrack their stories with quality music. David, who is a music producer himself and has worked with stars like Celine Dion and Westlife, understood how hard can it be to make a living as a musician. He has also seen how hard can it be to find quality music for your project, without a hassle. Thus, Epidemic Sound was born to solve that problem.
David's advice for our attendees? When starting a business, you need to go all in. There is no shortcuts and you need to accept that it is often complex. Your road to success may be bumpy in the beginning and that's why it's crucial to have a team that is prepared for the challenge. David and Andreas both agreed that at an early stage of a company, the team is essential. You may have a fantastic idea but if you don't have the right people to execute it - chances are, you won't be able to take your idea much further.
Andreas, who is the founder of Soundtrack Your Brand, had many fun anecdotes from his early days at Spotify and some great advice for everyone trying to break into the music tech industry. Soundtrack Your Brand's mission is to change how brands and businesses use digitally distributed music on a global scale.
Most important lesson learned from Andreas - it's a complicated industry and you have no other choice but to accept it. Music rights are complicated, licensing is complicated... and there is no way around it. Your best bet is to have someone on your team or even an external advisor who is more experienced in the subject than you. Don't be afraid to seek advice!
Andreas made an amusing analogy with a cookie cutter and a vegetable slicer/dicer - while many entrepreneurs from other industries may think about their product or service in a single "cookie cutter" form, while entrepreneurs in the music industry, need to "slice and dice" and break everything down into smaller parts to examine and understand the complexities of the industry.
Best advice we got from Andreas? Building a business is a bit like a tennis game - everything bad that has happened in the past is irrelevant if you win every ball in the future.
We're looking forward to the next AMP Talks and bringing more successful entrepreneurs on stage!