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But what should you include in a record label business plan?For starters, it should include: - An overview of your business idea -Your aims and goals - How you’ll earn/spend money - Any potential problems - How you’ll measure progress We’ve created a free-to-use Record Label Business Plan Template, to help budding entrepreneurs get started writing their plan.Will you tour and promote via radio and podcasts after you release your project?
You can also list all the merchandise you’re currently selling.
Do you have a particular pricing strategy for your products or services? How does your target audience value your products or services?
It takes relentless work ethic, long term vision, music industry expertise, non-stop hustle, entrepreneurial spirit, top-notch marketing skills, in addition to making dope music, in order to grow and succeed.
To be successful as an independent hip hop artist in 2017, you need to set realistic goals and work your way through achieving them.
What sort of channels do you have in place to do this?
Do you plan to drop a mixtape before your official album?These are the important questions to ask yourself when filling out the marketing strategy section. This is where you need to figure out how you’re going to fund this whole thing. You need to invest in yourself in order to make money. How much of your own money are you contributing towards the business?Will you be funding your recording career yourself or will you have investors?The only way you can work through your goals is by developing and sticking to a business plan.Think of the business plan as your blueprint to success.Your business plan should set realistic goals, address any issues early on, and develop a clear path for the future of your record label.A solid business plan is also essential when you come to secure loans or new investment in the future.Our goal is to help motivate, inspire and educate independent artists grinding around the world.We provide branding, content marketing, social media, SEO and music promotion services.As the artist, you have the vision and should be leading the whole team.Underneath, you might have your manager, marketing manager, social media people, tour promoter, and then branching out to your lawyer and accountant.