Walmsley and the business club may seem like strange bedfellows, but in reality, the ability to survive, and even thrive, in the rock'n'roll industry for more than four decades takes business nous. 

And that's something Walmsley has in bucket loads.

"I am a business man, as much as I hate to say that because I don't like big business," Walmsley said. 

"I'm a community person … but having said that, business works with my Buddhist punk attitude. It's common sense and the laws of nature. 

"I don't lean on the side where you only focus on the bottom line, that doesn't interest me at all, although a business does need to be viable and you need to be paid for what you do."

From the start of his career Walmsley has always sought out business mentors. 

"My first business mentor was probably Jo Manitta, who is a massive, massive property developer and the most successful business man I've ever known of who probably had a year 9 education," Walmsley said. 

"He managed us when we were kids, literally 15 or 16."

Manitta's son, Frank, was the drummer in Aspect, an early incarnation of The Screaming Jets.

"Not only did I write some of the bigger songs for the Jets, in fact, I wrote the biggest song. I don't say that to blow my own trumpet. It's just a fact," Walmsley said. 

"But I have also been the brains behind it, and the business behind it as well when no-one else was.

"My mentors included guys like Mark Tinson and Greg Bryce."

Walmsley said bands and musicians needed to think of themselves as a business if they wanted to make it in the music industry. 

"If it's not a business then it's a hobby and it will disintegrate very quickly," he said. 

Walmsley was also mentored by Chris Murphy, former manager of INXS, and the owner of MGM Distribution, Sebastian Chase.

Walmsley will be the guest speaker at the March luncheon of the Newcastle Business Club, on March 5, at the Harbourview Function Centre. 

Tickets to the lunch are available here: newcastlebusinessclub.com.au