In my answer, I am considering the "it" in your inquiry, to be all encompassing and not only for karaoke.
Here is a quick list from which to start:
1) Ethics, personal and professional.
2) A scintilla of business acumen.
3) Minimal grasp on reality.
4) Capacity to honestly and somewhat intelligently interact with other human beings.
Please contact us when you have acquired ALL of the above...talk to you never.