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 »