We had the good fortune of connecting with Bolivar DePeña and we’ve shared our conversation below.
Hi Bolivar, what was your thought process behind starting your own business?
I had wanted to be a rock star ever since I was seven years old. Little did I know that being a musician would be more like a business. Luckily for me, I decided to pursue a business degree in college and an MBA in grad school. This gave me the skills to put together a business plan related to music and media that was multi-faceted. I formed an LLC in 2014 along with a separate bank account for music-related income. That was just the beginning, as I have continued to learn and grown from running my music as a business, and I firmly believe my experiences running this small business will help me in future endeavors, even if they are not related to arts and media.
What should our readers know about your business?
My business in music has certainly had its ups and downs. It was not an easy ride to get to where I find myself today. Before I formed my LLC, my personal and business finances were in complete disarray, and it was often difficult to budget and plan for my career / life goals. My business budgets too often intermingled with some of my poor personal spending habits. While I was truly blessed with a supportive family and good friends, I was not always at peace in my own mind as I navigated the waters of a very complex industry.
Over time, I learned that in order for me to stay sane and financially stable, I needed to diversify my life. I have worked several odd jobs that were also very fulfilling. I worked in the athletic business for several years, including a couple of well-respected running stores. This gave me the opportunity to stay healthy and fit while pursuing music, which is not often know for promoting physical health and well being. Apart from that, I worked as an independent contractor, a keg cleaner at a brewery, and a hunting guide in southern Colorado. These jobs where great ways for me to fill in the year when touring was slow. They also required intense physical activity that is often neglected on the road.
The major takeaway from my experience as a business owner is that diversification is key, not just in finances but in experiences. The point in my life when I was most depressed emotionally and financially was when I was solely focusing on music and not on other important aspects of a fruitful life. To those looking to pursue and stressful and ambiguous career in the arts, remember to enjoy the ride and stay healthy in mind and body. This will lead to more success in the long term.
Let’s say your best friend was visiting the area and you wanted to show them the best time ever. Where would you take them? Give us a little itinerary – say it was a week long trip, where would you eat, drink, visit, hang out, etc.
If I had a friend visiting the Denver area, I would have a mix of indoor and outdoor activities revolving around music, breweries, running, fishing, and site seeing.
Firstly, I would take them for a solid live-music brunch at Ophelia’s Electric Soap Box followed by a beer at Great Divide Brewing. Then, I would take them up for a long hike or run through one of the many trails near Morrison and Red Rocks. If time would allow, I would hop up to Fort Collins and take them fly fishing on the Poudre River, which is a great stream for beginning fly fisherman and people looking to enjoy the sites. We could close that day out with a visit to Maxline Brewing, which has a great outdoor patio area with live music and a multitude of food trucks. Not to mention amazing beer! Speeking of beer, I love to stop in Greeley to enjoy some of the greatest breweries in the area, including Weld Works, Wiley Roots, and BRIX Taphouse.
Who else deserves some credit and recognition?
My grandmother, Olga, was a major influence on my life. Not only was she a source of support emotionally toward my music career, she also gave me some of the financial wisdom necessary to save and make good decisions with my money and opportunities. I wouldn’t be here without her.
Website: http://bodepenamusic.com
Youtube: http://youtube.com/user/bodepenamusic
Image Credits
Photo #1 – Kambrie Dyer; Photo #2 – Tyler Paige Photography.