Funk N’ Finances: An Interview With Entrepreneur & Musician Adam Gold

Casey Inman

Casey Inman | Blog

May 28, 2014 | Updated Apr 27, 2016

1800269_10101587399959606_1391869459453436150_nAdam Gold holds down the keys, bass, and vocals in the funk/hip-hop group Sophistafunk while working a day job as co-owner of the restaurant Funk N’ Waffles.

What are the top contributing factors to your success as both a musician and entrepreneur?

Success certainly is relative, but I definitely pride myself in being enthusiastic and creative in both fields. I do have to say that good branding is absolutely crucial. I am fortunate to have names like Sophistafunk and Funk ‘n Waffles to work with, as well as good visual branding by my various artists and designers that we employ. Lastly, thinking outside the box, doing something different is crucial. I rely on how intriguing that makes my businesses for the masses.

What have been the biggest challenges for you along the way?

For Funk ‘n Waffles staffing is a constant struggle. It’s a never ending process of training and maintaining and rehiring and training all over. I am very lucky to find the staff I find. I am hoping our new location will allow business to grow enough for me to provide longer-term financial stability for my employees.

How have credit cards contributed to your success as an entrepreneur?

I tend to use credit cards to limit my monthly spending. Most of my major distributors are currently COD, but for certain items, and several utilities, I utilize credit cards. I pay back the full amount every month, and never accrue interest.

What advice do you have for aspiring young musicians?

Utilize social media and the various internet platforms that allow you to collect money for your music. Make sure to stay active in your local scene, which is where you came from. Always give your hometown love, but also spread the music as far as you can, even if it means driving to California once a year. It’ll benefit you more than you know as practice both musically and emotionally.

How do you manage your finances?

As mentioned earlier, I do my best not to take on debt. I keep my credit limits low, and I pay COD for most vendors. I make sure that I’m not spending more money than I have, which provides security for me, my business, and all our employees.

What advice do you have for aspiring entrepreneurs?

You are lucky enough to be alive. There’s nothing stopping you!

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