What did you wake up thinking about this morning? The next Band Perry single. We're in the middle of recording and there are two songs we're going back and forth on. We choose a single so painstakingly because it literally takes up as much as a half-year or more of our artist's life. Gut is still the most important metric we use for making that choice. You can't let the creative vision get bought. You have to hold true to that.

Describe a lesson you learned from a failure. You have to let artists learn from experience and you have to honor their vision. If I believe in an artist, I've got to let them do what they do even if I think it's wrong. One of our artists made a decision to work with a producer I didn't agree with but we let it happen. They ended up having to change producers. I will sacrifice some growth for them to learn that lesson. They've now seen the light and are experiencing great success. The lesson was somewhat expensive, but it was worth the journey.

What will define your career in the coming year? There are a couple of branding things outside of music which, even when we discuss them a year from now, will be seen as pretty amazing. But I really can't discuss the details yet. We're going to have another big year for Taylor [Swift], the Band Perry and Tim McGraw.

Who is your most important mentor and what did you learn? My dad, Mike Borchetta. He was in promotions in the '60s for Los Angeles labels like Capitol, Mercury and RCA. He started his own independent company in 1969 and moved to Nashville in 1979. I got to learn so much about what to do and what not to do from watching him. They were the first record promotion guys; there was no one to make a path for them. I had a front-row seat to all of his experiences. I got to study all these older people, and it gave me a great compass as to who was a good person and who wasn't. He used to have this funny saying: "Send me the money, and if I like the money, I'll listen to the record."

Name a project that you're not affiliated with that has most impressed you in the past year. Kacey Musgraves [Universal Music Nashville], who I tried to sign. She's a great artist and songwriter. She has a great career ahead of her.

Name a desert island album. GRRR!, the Rolling Stones. My friends at Universal surprised me with an invitation to their 50th anniversary in London on July 12. I got to talk to Mick Jagger-turns out he's a big country & western fan. My dream is to make a country record with Mick.