Music Artists as Entrepreneurs: Building Your Empire

Until recently, the only way to "make it" was to be picked by an A&R rep at a major record label, and even that didn’t guarantee success if the label dropped your record or cut your marketing budget. Today, your success is primarily up to you. You are your own CEO and your product is your music. Identifying multiple sources of revenue and having a team is the first step in thinking like an entrepreneur and forming your thriving business 

Develop Your Product & Identify an Audience

Think about exactly what it is you are making and how it is different from existing music. What genre do you mow identify with? Your personality and image are significant aspects of your business, too. Understanding how to develop your brand in the market is invaluable.

Next, find out who your customers or fans are. Use internet tools like Google Analytics, Facebook, Twitter and other social media channels to see who is listening, watching and commenting. Talking to fans after shows will allow you to figure out who your key demographic is. 

Get Your Music Out There

You'll need to get your product to the market as quickly as possible, so release small and often on easily accessible digital platforms. If you don’t have the money to release a full length album, start with distributing singles every few months or EP’s. Cover Songs for your YouTube channel can keep fans interested without forcing you to spend thousands of dollars. Another good method is releasing a song to social media and telling fans you’ll release the next once you get a certain number of comments or likes. Promotions are key to building your fan base. Most importantly, get feedback as soon as you can and adjust your business accordingly. 

Network

Take tips from outgoing and energetic entrepreneurs and don’t be afraid to talk about your music, your band, and what you are trying to achieve. When you play gigs, Introduce yourself to the other bands playing or the guys behind the scenes running lights or sound. You never know who you can meet and you may find a way to collaborate! In the music industry, your success will come from your connections.

Build a Team

Think about who you know who would be willing and able to work with you to develop your career. Hiring professionals, like those at Pro Music Records, to carry out your website, marketing, promotions, and submissions to labels or radio stations can ease your stress and keep you organized. Delegating tasks to your team can also give you more time to hone your craft and create more music. There’s a reason most successful businesses are more than one person!