Of all the various music business careers, music management (or artist, band, talent, personal management) provides the most hands-on interaction with musicians.
Managers are generally the most influential people in the artists' careers, and help to craft the master game plan that everyone (not just the artists) use as a guide or road map.
If you are interested in the field of music / artist management, following are 5 tips that you might find useful.

1. First and most importantly, make sure you are knowledgeable about the inner workings of the music business and are passionate about music and musicians.
   Being unfamiliar with how things work will not only leave you with your hands tied, but could also cause you to create massive amounts of damage to the careers of the artists under your counsel.
   Having a passion for music will enable you to stay inspired and energized while conducting your management duties.
   
2. Sign only the number of artists you can effectively manage.
   Because it is so easy to find artists online nowadays, it is tempting to sign multiple artists to your roster in order to increase your odds of getting at least one of them signed.
   The job of artist / music management is extremely time consuming, and a manager can only effectively manage 2-4 artists simultaneously (depending on their various stages in their careers).
   Taking on too many artists will leave you scrambling to find adequate time and resources to fulfill your obligations.
   
3. Keep your overhead low.
   You don't need a fancy office or dozens of people working for you since you can outsource functions like accounting, legal, publicity, design, etc.
   The more money you spend on expenses, the less you will be able to keep as profit.
   
4. Since you will be working on a commission basis (10% - 15% of gross or net income generated), you will need to tap into as many income sources and opportunities as possible for your artist, including CD/download sales, live show performance fees, membership / subscription fees, licensing fees, sponsorships fees, merchandise sales, branding partnerships, etc.
   Relying only on one source will leave you and your artist vulnerable to downturns and shifts in the marketplace.
   
5. There are simply not enough record labels (and not enough money, for that matter) to sign all the artists around the world that are worth signing.
   Therefore, you will need to be prepared and able to steer your artists' careers successfully in the independent arena.
   Be cautious about signing artists simply because they fit a current major label trend.
   Trends in today's music business are short and fleeting (making lots of short-term money for major labels until the next trend emerges), and are likely to be over before you manage to gain any traction going with your artist.
   Sign artists that can sustain a long independent career if a major label deal doesn't materialize.
   

And those are just some of the important things you should take into consideration if you wish to pursue a career in music management.
Altogether, it can be a very fulfilling career for the right candidates matched with the right artists.