CREATE A MUSIC BUSINESS PLAN
Your music business plan should outline your purpose, goals, mission and objectives for being in business. It should give a time line for accomplishing certain goals and objectives. Your plan should state how much money you need to start (capital investment), how much you need to stay in business (operational or fixed cost) and the amount of money you’ll generate in gross and net profit (earnings or revenue).
MUSIC BUSINESS TIME LINE
Your music business plan should have a time line for accomplishing various goals and objectives and generating certain amounts of money. You’ll want to factor in your time line what to do when your music business starts generating more money. Your plan may include penetrating new markets. Meaning you may move in natural progression from local to regional, then national to global. You may decide instead of attempting to reach a global market, it’s better to stay regional, but add new products and services to your music business, in essence becoming a one-stop shop for new and existing clients.
ARE YOU IN THE MUSIC BUSINESS?
By doing the basic things already mentioned you would have done more than 80% of the people I come in contact with who say they are in “the industry.” These are the same people I see quarter after quarter at music conferences, music showcases, open mics and music business networking events, yet their businesses don’t seem to grow. Worse yet their music business is failing because they don’t have a well thought out music business plan and those that do begin to rise to the crème of the crop.
In my humble opinion you’ll go further with faith, a well thought out business plan and tenacity than you will with rough talent in the music business.
SPECIAL NOTE: Your music business plan should be heavily weighted on e-commerce, Internet Marketing, m-commerce and monetizing your web presence.
SCHEDULE consulting time with JaWar to create and implement your music business plan and start monetizing your web presence today. Call 800-963-0949 or contact Hasson at 404-964-1880.
