Today’s music industry is fertile with opportunity and filled with talent. The great equalizer, we call the internet, has caused audio equipment manufacturers to drop their prices to historic lows making professional recording equipment more affordable than ever before. Combine this with the fact that social media has completely leveled the music promotions playing field, and you have a recipe for success…or so it seems…
Even with these technological advances, getting into the music industry is not a complete cakewalk. However, there are specific steps you can take as a musician to position yourself as a music professional.
There are numerous misconceptions about how you can “get in” to the music industry. Often times, people will say that once you sign your first recording contract that you are “in”. Others believe that if you create music, put it on compact disc, and share it with friends that your are in business. That fact of the matter is, once you make the decision to make music your business you are officially in the music business. It is important to grasp this concept.
Businesses are engaged in the trading of goods, services, and products to consumers. In other words, you make transactions, trades, and deals of an economic nature.
Your first step in getting started in the music industry should be to establish clearly defined goals. As cliche as it may seem, goal setting is an integral part of getting started in the music recording industry. Your goals will become more refined and possibly change over time, but you should at least have something concrete that you want to shoot for.
Ask yourself these questions:
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- What Product or Service Will I Be Offering To Consumers (Fans)?
- Who Are My Fans?
- Why Should People Choose My Product Or Service?
- What Is Special About My Product/Service?
If you can’t answer these questions thoroughly and in vivid detail yet, don’t fret. Most people don’t jump into the music business and begin making millions immediately. There is a progressive and methodical strategy involved to achieve one’s music business goals.
Establishing Your Business Entity
Once you’ve laid out some clearly defined goals, your next step will be to get your business registered with your secretary of state. Details on how to get your business entity established are provided in the link below.
Be sure to read the next post in the musician’s guide series. The topic of discussion will be social music networking.