How does a independent record label work?
One good way to find this out is to research your competition. How did other independent record labels get their start? You have to research your competition thoroughly for your business plan anyway, in order to demonstrate your competitive advantage to a lay audience. Be sure to check out direct competitors (same music genre) as well as indirect ones (different genres). Ideally, having a half dozen from each category is a good start for you. As you research the history and financials of these companies, look for auxiliary articles on the founders, the label itself, find out who is on their label, then check out the artist’s bios for clues on how they hooked up. Yep, it’s a lot of research. Welcome to the world of business plans. If you thought it was just a one page summary and some quarterly proformas for a couple years, you’re in for a pretty big surprize, and not a good one. You need to know your industry inside out, especially in this economy, if you want a dime from any funding s
