September 30, 2009 Business Idea: The Reverse Record Label
I am currently writing a business plan for one of my classes (COMM493, not really sure why this is a communications class…) and this is the tentative mission statement my roommate and I are developing:
Mission Statement
<Insert trendy company name>’s mission is to provide unsigned and independent musicians with a team of organized, determined, and passionate individuals to help them create and sustain successful music careers. Our services will expose these artists to their target markets without seizing any rights to their music. We aim to create unique service packages for our clients to help them jumpstart their musical careers and gain necessary exposure in their local music scene. By “breaking” our clients into their target markets, our goal is to strengthen the presence of independent music everywhere and help the previously unknown, but truly excellent talent rise to the top.
To read an extended description, please visit my blog here: Tight Mix
Any feedback is welcome - either here or on my blog, doesn’t matter to me.
_chris
Reader Comments (5)
Are you familiar with Audible Treats?
I'll ask my more detailed question at your blog, but I'd recommend checking that company out for modeling purposes.
This is sort of the premise of my online publication. It's like marketing and promotion through media. I also plan to coordinate shows if I can get some sponsorship from a few key companies. I'd be interested to talk with you about what you have laid down and share with you what I have. I also have professional business plan that I've created for one of my classes. E-mail me sometime and we can chat about it.
Justin's right though -- at the outset it appears to be the basic function of a marketing / PR firm such as Audible Treats -- they're excellent by the way. That's why I'm sort of changing it up by creating a publication and putting on shows.
I'd hate to be the first person to tell you about Julia Beverly and Ozone Magazine, then...you'd have to change businesses again. No harm in going up against existing competition, though. It gives you clearer benchmarks for success, and it's also pretty much impossible to find a business model that's not already being done.
...unless, of course, you discover the business model everyone at Music Think Tank is trying to figure out. That would be pretty cool and I hope it happens somewhere before 2009 is out.
Tyler, thanks for your insight. I checked out your website and it is pretty cool. You serve a lot of lesser known artists, which is the goal/vision of my business idea. We plan to start small by picking one city and building a network/joining the existing network there and starting out with a few low cost/free projects to give us the opportunity to experiment and see which strategies are most effective (props to Justin Boland for the "incubator" idea).
Justin, thanks for pointing me to Julia Beverly. She does some really cool stuff and is very similar to Tyler. I don't think he is going to have to rethink his business plan, unless he is looking to do something absolutely original.
I am hoping that in developing this business plan it will get me closer to that magic business model everyone here is trying to crack....we'll see!
_chris
With all the unsigned artists on the internet (that number might be growing exponentially) looking for exposure, it's pretty fair to say a company that can do all the grunt work for the artists is bound to prosper.