Archive for category Music Business
How To Keep Your Music Business Lean and Trim
Posted by in Music Business on December 2, 2011
This means that big is not always better. So how can you keep your music business lean and trim. Let me give you some tips:
* Reduce marketing spending to reflect potential sales. Everyone in the music business always believes their first releases are the tracks the whole world is waiting for when in reality, that is far from the truth. There are at least 13 million songs on the internet. That is a humongous amount of labour just sitting on servers. Most of this would not even sell 10 downloads/copies (unless you have a big family). The other note worthy point to mention is that although the cost of production has dropped, the cost of marketing can be said to have increased. Try getting a radio Plugger and you soon find out your need for an internet expert. Therefore your spending should have a direct relationship to sales; otherwise you will be running a flabby business!
* Use technology instead of employing people. When the super markets in the UK introduced the self service tills, I thought that would be the end of cashiers within the store. Thank GOD that is not the case. Having self service tills offer better and quicker services to the customer. Therefore the question for use should be – what part of our operation needs to be automated?. Can I automate my emails, letters, phone calls, releases, and so on? This saves man power, saves money and offers a better use of resources that all together helps keep the business Lean and Trim. Read the rest of this entry »
Create a Music Business – Turn Your Passion Into Your Career
Posted by in Music Business on December 1, 2011
One characteristic most successful people have in common, is that they all manage to find a way to make a living doing what they most enjoy. For example, a famous actor finds a way to make acting his life career, a successful business man build his own business, a music producer turns his music studio into his full-time business.
So if, music is your passion– One must find a way to make a living in the music industry. One of the things we hear a lot from local music bands today is: “It is too hard to make money these days as a musician.” Yet, every day we are seeing new artists emerging in the industry, selling millions of tracks, records, and winning Grammys. The music industry Is a multi-million industry; so there will always be money in it, the only difference is that today record labels are not taking the same chances as before signing new artist.
The reason why so many independent artists struggle in their music career is because their lack of business knowledge. The most common mistakes musicians make in the music industry: Is not to learn about the music business itself. Most musicians despite the business side of the industry, and tend to focus only on making music. Unfortunately, this why so many talented musicians have no other option, but to get regular jobs, and take music just as a hobby, and not as a career. The excellent news is that everyday new music artists are turning their music into their business. Read the rest of this entry »