A Necessary Business Plan (For Your Career)

A business plan is a necessary tool for anyone starting a business or anyone planning to make money with their music (selling music, performing, selling merchandise). It forces you to think about how to succeed, how to move forward, what that will cost, what obstacles you might hit and how to overcome them. It explains how you plan to run your business, how you will build it, and exactly when and how the income will come.

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So, You Want a Label Contract?

“I wanna get signed!”

How many bands or musicians say that? Perhaps not as many as in past years. These days, an independent musician has access to tools that allow them to self promote through a giant web of online resources and then sell their music through the same. Certainly some musicians have no desire to sign to a label contract – their musical style is one that may not be saleable to mainstream audiences, or they prefer the self-control of handling their musical career independently. Some major artists were label signed, and having already gained a large audience share, they feel their own team can now market and sell to those same fans, without the controlling relationship certain labels may offer.

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How to Sell Out Properly

So you’ve got it in your head that you must be signed to be happy. As you know, I am very much against labels as they are 95% of the time a terrible financial decision. However, you don’t care. Cool, let’s work with that.

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What are the odds of succeeding WITH a record deal?

If your aim as an artist is to purely chase a record deal as a means to succeeding in this business, I will tell you right now that you are doomed for failure. You can throw all the trumped up statistics around that you want, but fundamentally your chances of actually landing a record deal are extremely slim. Furthermore, your chances of actually making money directly from that deal are pretty much zero.

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Redefining Success In Music

Success in the music Industry has long been measured by landing a recording contract, but with the ever-increasing digital distribution outlets available, and the shrinking physical market, the goal posts have certainly shifted. In reality, as 90% of those who had the (mis)fortune to find out first hand will testify, securing a record deal was never an indication that you had actually “made it”. It was a temporary influx of much needed cash, but any perceived luxury came with insurmountable overheads. With every limo ride and big city showcase offering free booze, your ever-expanding expense account would ensure that your musical career was never going to be a viable long-term business. A re-evaluation of what actually defines success in music is much needed. Especially as new artists take steps to build a working business model in the constantly changing digital world.

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