What Everybody Ought To Know About Music Business
Playing music can be your passion but when it comes to getting into it as a business the whole approach has to be very different. You can no longer be haphazard about it. You need to plan it well and ensure that you have proper goals that you want to achieve. Here are tips of how you can start giving a business angle to your passion.
First have a vision. This might sound very fluffy, but you need to know where you want to go with your business. Your vision is the most important part of your business and it drives your strategy. Make your vision statement as specific as possible and at the same time also leave room for maneuvering; so that you can make it all encompassing. For example: Vision statement can say “To Become The Top 10 Local Music Business Brand In 2 Years” rather than “To Become The Most Well-Known Music Teacher In Town”. The second statement is self-limiting and does not allow you to exploit any other aspect of the music business like giving live performance, selling music on internet etc. As you go along, you might find a lot of opportunities in areas you might have not dreamt of when you started. At that time, you want to ensure that your vision statement is as wide as possible. This will help you to identify these opportunities and not let them pass.
Once you have your vision done, set your goals and milestones. Setting goals requires proper planning. So if your goal is to have 20 full time students at your music institute in six months, you will need to plan your marketing and advertising campaigns to make this happen. However, if you have no milestones, you will just take everyday as it comes and not approach things with the same passion and vigour as you would if you knew where you were going. Having a goal will also prevent you from going astray and will help you look for options in case something does not work.
Once you have these set, next move to the brick and mortar aspects of the business. If you have a studio, ensure that it looks professional and has all the equipments required. Whether the studio is used for teaching students or composing your own songs make sure that it is fit for purpose. Actively market your facilities to your clients. Also try other means to reach out to your audience like internet, email marketing etc.
Developing a proper marketing plan is the next most important step. Explore all the options you have of marketing your services like flyers, adverts, free performance, Internet etc. Whichever mode of marketing you choose, it is important to plan your message well. So spend time to think of your advert copy and ensure that the message is succinct and to the point.
Finally implementation is the most important part of the equation. Start implementing all the plans and taste the success of your plans.