Creating a Successful Music Business Plan

Music Business No Responses »
Jan 302010

If you’re serious about your music you need to think of it like a proper business and create a music business plan that lays out your plan and goals so that you can stay on target.

The simple guide below will help you rapidly create a music business plan that you can revisit and revise as you you develop in the music industry

1. Summary – this is an overview description of your music business and what you are trying to achieve. You might include details of the marketing methods you are going to use and the gap your are going to fill.

2. Goals – any business plan should have a clear set of goals that are achievable yet challenging. These will change over time as you reach further and further but will always keep you on track.

3. Targets – now that you have a clear set of goals for your music business plan you need to set deadlines and targets to make sure that you are always moving forward.

“A goal without a plan is just a wish” Super cheesy I know :-)

4. Market – before you ever start promoting your music, you need to know what fans you are going after and why they are going to be interested. Even if you are totally original you need to find a set of fans that have a high probability of liking what you do

4. Marketing plan – a set of steps to reach your perfect fan.

5. Release dates – your music business plan should include a number of music releases even if they are just digital. This will give your marketing a focus.

6. Contacts – list of key people who will help you achieve your goals.

7. Process maps –  these are basically the habits you need to create everyday if you are going to achieve your goals. For instance if you want to get a music agent you might have to research and contact five people everyday.

Final thoughts.

Now that you have created a workable music marketing plan you are ahead of 99% of other musicians trying to make it, and you should have a much better chance of success.

I’d be happy to answer any questions you have at my site below.

Good luck.

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What You Need To Know About The Business Side of the Music Business

Music Business 25 Responses »
Jan 282010

Many musicians don’t pay enough attention to the business aspect of their career and as a result end up broke, in bankruptcy court and/or in bad deals. It is very important for a musician to take an aggressive look and active role in learning the day-to-day business of their music career.


The truth is that the music business aspect of your career is where you will need to spend the majority of your time if you want to have a successful and sustained music career in the music industry.


The most important thing you can do is to watch the bottom line and cover your bases by protecting your music. The music industry roads are littered with musician road kill. Artists who hit the “big time” but were barely living above poverty level.


A few months ago, I watched an interview with a well-known music star on a music legends show. He stated that at the beginning of his career, everything was great. He sold millions of CDs, sold out shows, and was constantly working year round, but ultimately he lost more than he ever received.


How could he have sold millions of CDs without becoming filthy rich? The explanation for how he lost money is he didn’t pay close attention to the contracts he signed and who was doing what with his money. Having shrewd business acumen is crucial to your musical success.


A good way to learn how to avoid busting your music career is to watch the financial comings and goings of others who are successful in the music or entertainment business, then model your business actions after theirs.


Oprah Winfrey, Madonna, Britney Spears, Jerry Seinfeld, Dolly Parton and Mariah Carey are a few great examples of the bottom line. While you may not like one or the other, the facts are proof: They have made bank, millions of times over, and they still have that bank.


Recently I spoke with a friend Thom King of Multimediary Entertainment Marketing about artists learning the music business and the importance of knowledge. Thom has been a top executive at Clear Channel Radio as well as the head of major music industry corporations. This is what he had to say,


“There is a reason they call it this music business, because it is just that, a business. In addition, as with any business, it is critical to define each member’s roles as well as the ownership of the intellectual property you are creating. You are building a business as much as you’re building a band, and if you approach it that way you will be ensuring your success for years to come.”

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Question by jase: music business?
well i would really like to pursue a career in the business side of the music industry what kind of degree would help me?
thanks
also what kind of major/minor would help?

Best answer:

Answer by Pharmacy_Advisor
Business specifically management, finance or international studies. However, if you really want to make it, get your name out there. Try to get an intern job with a music company such as BMG, Death Row Records or whatever. Don;t be shy! Try writing a letter to Russell Simmons. You never know if he says YES!

Give your answer to this question below!

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Should You Enroll in a Music Business Program?

Music Business No Responses »
Jan 102010

If you are an artist or an aspiring artist manager, booking agent, publicist, radio promoter, or internet marketer who wants to make a serious career in music, you have to learn about the music business first and what better way to do this than joining in various music business programs. This article will enumerate some very important reasons why you need to enroll in music business programs to succeed in your venture.

Enrolling in a formal music business education will give you the connections you need in the music industry. They usually provide a directory of industry contacts to help its members complete a project. Moreover, an internship at a studio or a music management company can be your lucky trick in joining the music corporate wagon sooner than you expect.  Keep in mind that the music industry is a competitive jungle; you need to know the right people who will help you come up with projects to sustain your momentum in the music arena.
The idea of music business programs is to teach the participants about how music business works from the perspective of an independent label and/or unsigned artist trying to market and promote their music from the street level. There is a slim chance of getting a record deal from the 4 major record labels; the majority of artists nowadays are going for indie promotion since it has now become quite a trend in the international scene these days. This will greatly help you start your own record label or manage your music career in the future.
Learn career skills including Marketing and Promotion, Music Publishing, Music Contracts, and Personal Management from an insider’s perspective. Music business programs provide hands on training for business careers in the music industry to help you succeed in the music business someday be it in a creative or corporate manner. The experience that you gain during your stay in the program and the people that you meet in the process will surely increase your chance of getting hired at another project through referrals. The key is to build your reputation so people will trust you with their investments.
The degrees that you will gain from the program will greatly build your confidence; it makes you more marketable than those people who only got talent with them. Always bear in mind that a talent accompanied by a handful of knowledge makes a successful man.

With the advent of Internet, getting an education has never been so easy. There are many music business programs available today, make sure you choose a music school that is accredited by an appropriate agency, indicating that it is established, well-organized and financially stable. Another thing to consider in selecting a program is that it should provide its students a balance of communication, business strategy and music industry-specific skills, these are the basics in the music business so it should be thought in a comprehensive and in depth manner.

Sign up in music business programs and give yourself an edge to make it big in the future.

 

Question by Samantha Star*: Music Business?
I really want to get started in the music business…
how old do i have to be to get a record label?
where should I go to get a record label?
what should i look for in a label?
and any other tips…

thanks!

I am 14 with a great voice…not to be conceited, but everyone tells me so. I’m outgoing and fun loving

i am good at singing emo/punk/alternative/pop ya no
like FOB(fall out boy) style

Best answer:

Answer by ICSFoster
It helps if you got connections.
Make some friends with people who have a recording studio that way you can make a demo and ship it off to companies.

Give your answer to this question below!
Music business program shakeup: 2010′s top arts and entertainment story
This summer, Bruce Burch, then administrative director and founder of the University of Georgia’s Music Business Certificate Program, called a meeting with Athens musician and recording engineer David Barbe.
Read more on Athens Banner-Herald

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