With iTunes Sales rocketing to the moon and continuous clips of Lady Gaga, Pitbull, T-Pain, Katy Perry, Adele etc… playing on your TV set day in and day out its hard not to be influenced in being part of the fun and wild Music Industry. You have the talent, you have access to a recording studio and you have learnt a thing or two about uploading your music to your Youtube page. This nowadays is not enough, we show you the BluePrint formula used to create a Successful Record Label.
Think ahead. Although many successful record labels started off with someone winging it, there are many that fail for that very same reason: poor planning. Creating a record label is a business and a full time job. Consider the following before you start one:
Cash flow. Do you have enough money to pay for manufacturing? What about promotional materials? It’ll be a while before you get any money back from records selling (if they sell at all). You might need a grant or a loan to hold you over. Some labels raise extra funds by putting on club nights or gigs. It’s recommended that you don’t quit your day job.
Business plan. Independent record labels can take off without a business plan, but you’ll need one eventually, so why not write one now, when it’ll benefit your business the most? You’ll definitely need one if you want to apply for grants or loans, and it’s a good idea to have one if you ask people to invest in your business.
Licenses and forms. Think about how you want to structure your business: sole proprietorship? partnership? corporation? Get a business license and file appropriate tax forms. Register with any relevant organizations (e.g. Mechanical-Copyright Protection Society). You may also need a retail license if you’re selling records directly to the public.
If you decide to work with a partner or partners, ideally you will want to work with people you can rely on, trust, share and receive information with and most importantly people you can get along with. Working with friends is great but remember and remind them it has to be as professional and timely as possible, especially in the beginning stages because this is where a company can fall apart and end altogether. Having fun is always great for the job setting but there has to be a line in the sand which all parties cannot cross.
Office space, you can get by with just a post office box and a business phone number, or you could establish a complete office, if you have the funds. You can build your own studio or pay for studio time somewhere else.
Choose a name. Brainstorm 5-10 good names that you feel will fit your business. You need to tell people who you are and the type of music you produce. In short your business name should say it all. The reason for choosing a number of names for your record label is that if one is taken you can still fall back on the others and not have to waste time rethinking your names.
Go to a domain name registry and see if any if these names are already taken. Try for .com and .net as these are the most popular and visitors will be familiar with them. This quick check will let you know if anyone has the names already online and will help you with your ultimate choice.
Consult local government (the State Registrar in the US) to check if any offline businesses have these names. This will ensure that you are the sole user and nobody can infringe on your rights. It also stops you from any unpleasant lawsuits later on if people contend your rights to use a business name.
Select one unique name. Choose the best name from among the ones that you are left with. Remember it needs to be one that is appropriate for your business and music. Register a domain name for your upcoming website. It is important to do this quickly before it gets taken by someone else. When you register your domain name, always get both .com and .net so that nobody can have a similar name to you and leech off your marketing efforts.
Register the name with the appropriate authorities. This will make sure that this is exclusively your own business name and will protect your rights. You may need to file for a DBA (doing business as) license so you can identify with your label’s name when conducting business (accepting and making payments, for example).
Design a logo. You might also want to print stickers, posters, stationary, business cards, etc.
Corner your market. Choose and study your genre. Sit down, either alone or with your partner(s) and think of the style(s) you want your record label to be. It would be best if you picked a style that you are very familiar with and have extensive knowledge about. Musicians don’t like being forced into a box, but choosing and sticking with a particular genre helps a record label know their market (who buys that genre) and build contacts with people who deal with that genre (record shop owners, DJs, journalists, etc.). Research your genre, and find out what it’s missing. Observe and predict trends. You need to fill a niche. Talk to local promoters, studio owners, music shops, distributors, journalists, and anyone who can offer insight about what’s hot and what’s not. Who is your target audience? How old are they? What are they buying? This is also good research for a business plan.
Find talent. Scour the local band scene and find bands who you think will earn your label a good reputation in your genre. You can’t compete with the big record labels, so you want to go for interesting records that slip under their radar but will be a hit with your specific market. After you find a band you feel is a great fit for your label, talk with the band or the band manager and offer a contract signing them to your label. The key word here is “sign”. That means you should have a contract for every artist, drawn up by a qualified lawyer. If a track or an artist gets big and you don’t have a contract, things can turn ugly, and your label might get the short end of the stick. Some labels don’t do contracts if there are one or two singles at stake, but insist on contracts when there’s an album deal on the table.
Record in a studio. If the artist doesn’t have a recording and you don’t have a studio, shop around. Look for an engineer who has experience in your genre and an owner you can work with. You might be paying for some or all of the studio time. Ask about lower rates if you block book time for two or three projects. It’s a good idea to have a producer there (you or a musician you trust) to make sure everything turns out well (and your money isn’t wasted). It can cost $150+/hour. If you pay for a portion or all of the recording, then you can withhold earnings from the band until you make back all the money you put into the recording, and you have more of a say in how the album sounds. This needs to go in the contract, though.
Promote the music. Your goal here is to do everything you can to chart locally. Make enough copies of the music to promote it as follows:
Contact local college radio stations – push to get your music played.
Send recordings to independent magazine and newspapers – hope for favorable reviews.
Put on great performances. The members of the audience will go home and tell their friends about your fabulous show.
Print your website address on the program so that you can attract your fans to the website and they will buy more.
Sell copes at the show. Make note of the songs that your live audience love and record them into a DVD or album of your greatest hits.
Sell them from your website and allow a sample to be downloaded from your site.
Make use of MySpace and YouTube to promote the music on a larger scale.
Give away free tickets to your upcoming concert.
You can even pitch the music for televisions shows, commercials, cell phones, video games, but get legal advice before licensing the music.
Press the product. Get the recordings mastered before sending them to a manufacturer, if at all possible. An experienced mastering engineer will know how to make the final product sound like an album rather than a collection of songs, making it more commercially viable. Ask around. Get quotes. The more copies you make, the lower the cost per copy. When choosing packaging, think about how retailers will display them. Ask distributors for advice.
In the US, each release will need a catalog number (usually a 3 letter abbreviation followed by the numbers, i.e. CJK415) and a universal product code (the barcode on the back of the product) to be seriously considered by distributors.
Sell the music to distributors. To get as much product on retail shelves as possible, you’ll need to convince distributors to help.
They will want to see that you’ve established some success on your own (charting locally, selling product on consignment, live shows, mail order and other direct sales methods) before they even consider carrying your music. Here are some questions you will want to have answers for before you even contact a distributor:
Has the artist had any success with established mainstream labels?
Does the artist have a following, if so, how well known are they?
If the artist is unknown, what specific promotion ideas does the label have?
Are there any well known “guest” musicians on the recording?
Does the recording, and artwork meet the standards of the musical genre?
Is there any current airplay on commercial or non-commercial radio?
Will there be independent promotion on the release to retail and to radio?
Has the artist hired a publicist, and/or what is the publicity campaign?
Will the artist be touring in support of their release, and is there a schedule?
Does the label have the financial resources to provide “co-op” advertising, in which the record label and retailer split the cost of media ads?
Does the label have the financial resources to press additional product?
Does the label have a salable “back catalog” of proven sellers?
How much product from the label is already out in the stores?
Does the label have other distributors selling the same product?
What are the next releases from the label, and when are they coming out?
Product is sold to distributors for about 50% of the list price, and is accepted on a negotiable billing schedule of 60 – 120 days per invoice. The label usually pays for shipping charges. Most national distributors require that they are the only distributor of a particular product. You might also be required to pay for advertising on the distributor’s monthly newsletters, and/or update sheets, as well as catalogs (costs subtracted from invoice).
You’ll also need to give them a negotiated number of free copies for promotional purposes, along with “Distributor One Sheets” (fact sheets with promotion and marketing plans and price information) and “P.O.P.”s (Point of Purchase) items, like posters, flyers, cardboard standups etc., for in-store display.
Distributor One Sheets should have the following information on a single sheet: label’s logo and contact information, artist name/logo, catalog # and UPC code (barcode), list price (i.e. $15.98) of each available format, release date (to radio), street date (for retailers, if different from release date), brief artist background description, selling points (discounts, marketing, and promotion plans).
All promotional product need to have the artwork punched, clipped, or drilled” to make sure that they aren’t returned to the distributor as “cleans” (retail product).
Keep your fingers crossed. In the music industry, it’s often hit or miss. Hopefully, the music will connect with your market and sales will take off, but some of your music, sooner or later, will bomb. Try to make it so that the big successes cover the losses, with extra left over to pay for operating expenses (and your own paycheck, so you can keep doing what you love without starving).
Industry Tips & Advice: Jay-Z talking to Travis Smiley about running a record label and founding Rocawear
Why You Should Prefer Emails to Phone Calls if You Want to Be More Productive
“Email” and “productivity” rarely go together in a sentence. Emails have been declared as one of our largest time wasters. A McKinsey report stated that people spend around 2.6 hours each day responding to emails. That’s 13 hours a week, 52 hours a month and over 60 days a year! Imagine what you could’ve achieved in 60 days!
Emails also negatively affect our cognitive resources. When we think of responding to them while doing other important tasks, it takes up to 23 minutes and 15 seconds after being disrupted to return to full attention to a current task. Imagine how much our cognition and productivity gets fractured when we get distracted over and over again.
Constant emailing also drains us mentally. And at the end of a day, we realize that we’ve achieved nothing worth mentioning. With a phone call, you can sort issues and solve problems quickly, right? In theory, you’re right. But we live in a practical world where many variables come into play.
Below are three variables that make phone calls adversely affect our productivity, and why emails are a better alternative:
1. Wasting Time
Most “five-minute conversations” can quickly turn into 35-minute calls because people ramble about irrelevant aspects. This derailment, several times a day, severely limits the limited time and energy you have for important tasks.
Emails, on the other hand, force writers to streamline their thoughts and stick to the point. Emails can save you plenty of time and energy because you avoid lengthy phone calls. The constant strife to keep your own emails short and crisp also makes you a clearer thinker, which rewards you in other aspects of your life.
“It’s better to waste money, than it is to waste time. You can always get more money.” – Hal Sparks
2. Inaccurate Responses
An unexpected phone call can catch me caught off guard on a topic. I might respond emotionally or give an answer that doesn’t do justice to what I want to share. In a world dominated by panic buttons and fire-fighting, these don’t just stress me out but the caller as well.
Emails give me flexibility to prepare a coherent response and share it when I’m satisfied. If I feel a surge of emotion, I can sleep over the thought and share a better (more rational) response the next day. Many page-long email responses to emails that upset me have turned into a simple “thank you for your email” the next day.
3. Constant Back-and-Forth
Phone calls often are ineffective to solve business problems. Accounting for multiple people, their views, their timelines… One phone call can quickly turn into three.
Emails are quicker and more effective than even conference calls. They let you communicate with multiple people at the same time. You can share information, assign tasks and give status updates while being as specific as possible.
You must be wondering, “What about back-and-forth emails then? Why do we waste precious time on them?” Yes, email has earned a bad rap. But it’s not because of the medium; it’s because we handle it ineffectively.
A Better Approach to Emailing
For most people, constantly refreshing the inbox is part of the daily to-do list. It keeps them busy and gives them a kick of dopamine – the feel-good chemical.
Ironically, this quest to remain busy makes people compromise on taking action that can move them forward. Using emails prudently, rewards you with plenty of energy and mind space to focus on tasks that truly matter.
Here are three steps that benefited me without succumbing to the side effects of email:
1. Checking Them Less
I check emails just 3 times a day – at 9:30 AM, 12:00 PM, and 4:30 PM. If you don’t have the luxury to do the same, you can start by checking your emails for ten minutes at the end of each hour. Most senders expect a response in a little over an hour. So they won’t mind a slightly delayed response. This gives you 45 undisturbed minutes each hour to work on your core tasks.
2. Responding Quickly
People delay responding to emails at least 37% of the time, which turns finding emails and responding to them into additional tasks that cost time and lead to attention residue. Most emails take under two minutes to respond. When you can respond to an email, do so instead of putting it off. This won’t just put your mind at peace, it’ll also reduce the number of “did-you-see-this” follow-up emails in your inbox.
“I do love email. Wherever possible I try to communicate asynchronously. I’m really good at email.” – Elon Musk
3. The If-Then Technique
The If-Then technique helps you address multiple scenarios at once. For instance, an email that says, “Can we meet at 3:00 PM?” becomes, “Can we meet at 3:00 PM? If not, please advise three other times that work for you.”
This technique is also effective when you want to suggest ideas or provide instructions on alternative steps. For example, “Here’s Plan A. If it doesn’t work, connect with [name] and ask for [specific information]. If you don’t get what you need, inform me.”
I’ll admit. This sounds like more work in the current moment, but it drastically cuts down the number of trail mails, confused correspondences, and fire-fighting instances that occur due to miscommunication.
The If-Then formula is the single most effective technique I’ve learned from The 4-Hour Workweek. All of this doesn’t mean that you abandon phone calls, In fact, it’s better to use the phone for sensitive topics or if an email conversation gets dragged. But remain mindful to not let phone calls waste your time.
If you want to pursue a meaningful life, place a premium on your time. Do things that create time for you to pursue meaningful actions and avoid doing what pulls you away from them. In the knowledge economy, this is the key to success.
Do you prefer email or talking on the phone? Share your thoughts below!
4 Questions You Need to Answer Before You Reach the Level of Success You So Desperately Crave
It’s normal that every person in the world wants to reach success and happiness. Yet, everyone defines both of these things differently. For some, success is making a whole bunch of money while for others this can be to become a good parent. Happiness is defined differently as well. Some people need to own a jet, boat and 3 cars to be truly happy, while others are happy just to be able to wake up in the morning.
It doesn’t matter how you define success and happiness, the truth is, you want to achieve them both. But, to be able to reach success and happiness, you need to answer 4 questions for yourself.
Here are the 4 questions you need to answer before you can achieve success and happiness:
1. Where Are You?
No, not geographically. It doesn’t matter where you live. What matters is where are you in life. Where are you in your way to success and happiness. Let’s say you are lost in the woods. You know exactly where you want to go, but you don’t know where you are. Even a map doesn’t help you with that.
The same is true in life. You may have a goal, but until you truly define where you are in the moment, you can’t move toward this goal. So, step 1 on your way to success and happiness is to define where you are right now.
“Successful people do what unsuccessful people are not willing to do. Don’t wish it were easier; wish you were better.” – Jim Rohn
2. Where Do You Want to Go?
When you define where you are in life, then you can think of where you want to be.
There’s this saying: When you don´t know your final destination, you´ll end up somewhere you didn’t want to be. Until you don’t know clearly where you want to be in life and who you want to become, your life doesn’t have a true purpose.
Without purpose, there´s no motivation. Without motivation, there´s no energy. And without energy, you´re not living, you´re just existing. I am sure you know someone who looks like a walking corpse everytime you see them. Do you think this person lives a successful and happy life? Most likely not.
So, step 2 on your way to success and happiness is to clearly define your goal. What do you want to accomplish and who do you want to become?
3. Why Do You Want It?
Okay, you know the basics. You know where you are and where you want to be. But, as Rocky Balboa said, “The world ain’t all sunshine and rainbows.” And as you already know, life usually doesn’t go according to your plan. There will be hard times and to overcome those and not give up, you need to know WHY you do what you do.
You need to know WHY you want to accomplish your goals. When you answer this for yourself, you don’t struggle so much to motivate yourself. You will be motivated every minute of every day.
So, as a step 3, sit down and think of WHY you want to accomplish your goals. What’s the big purpose?
“We can change our lives. We can do, have, and be exactly what we wish.” – Tony Robbins
4. How Are You Going to Get There?
And finally, how are you going to get there? What’s your plan? You may know where you are, where you want to be and why you want to do it, but until you truly understand how you are going to get there, there won’t be much success and happiness in your life.
For example, you want to become a bodybuilder. You want to do it because you want to have big muscles and you want to look fit. But, you have no idea how to work out, how to build muscle and how to lose fat. Do you think, you´re going to be happy? No. As Tony Robbins says, “true happiness comes from progress.”
To make progress, you need to have a specific plan; how to get from point A (where you are) to point B (where you want to be). So, as a step 4, sit down and make a specific plan for how you’re going to get what you want in life.
In order to reach success and happiness, there are 4 questions you need to answer for yourself. Without answering them, you´re not going to get ahead in life, you´re just bouncing around. Success and happiness never come from just bouncing around in life.
Good news is, that these questions are really simple. It won’t take much time to answer them. Just be aware of where you are and where you want to be. Don´t forget to understand why you are pursuing your dream and finally, how are you going to get what you want.
Answer these 4 simple questions today and you won’t struggle with finding success and happiness in life anymore.
Which one of the above 4 questions resonated most with you and why? Share your thoughts and ideas below!
The Empathetic Heart: How The CHO of VaynerMedia Is Changing The Way We Work
A month after I had joined LinkedIn back in July of 2018, I sent Claude Silver a connection request and began following her content. One day she made a post saying “Ask and you shall receive, what can I do to help you today?”. I commented on that post asking for a 5 minute interview and to my surprise she agreed by asking me to send her a message (I was given a full hour). This was the first example of pure kindness I witnessed from Claude.
The first message you see on Claude’s website is: People need people. People need people that listen and then do something. That message spoke to me on an emotional level, and I believe it will speak to you too. I wanted to know how she created such an amazing culture, what being a “culture carrier” meant, and how the employees at VaynerMedia have been changed by her work there.
A culture carrier in Claude’s own words is “someone who is aligned with our values, I can’t teach someone to be kind they have to already be kind. The process of developing a culture carrier takes about 6 months. It’s about bringing people together and having strong core values of kindness and empathy.”
Gary Vaynerchuk, co-founder of VaynerMedia, is often referred to as a combination of hustle and heart. With the hiring of Claude and the work she has accomplished within the company, it speaks to the level of empathy that can be felt throughout the entire operation.
Although business can be a challenging, tough, and often cut-throat terrain, by putting employees first and providing honest feedback the company has grown to include offices in New York, Chattanooga, Los Angeles and London, and continues to dominate the market.
Below we’ll see 3 different ways the CHO of VaynerMedia is changing the way people work:
1. By being unafraid to share her own story
Claude has been an influential part of breaking the stigma surrounding vulnerability in the business arena. Not only does she openly share her own story, but she sits down with employees to better understand their vulnerabilities and how to use characteristics that previously would have been considered weaknesses as strengths.
When asked what her biggest adventure to date was she replied “Having Shalom (her daughter). I have had an amazing life, I moved, worked hard, landed an amazing job and fell in love but it didn’t come without its challenges.”
Claude is openly gay and is living proof your sexual orientation doesn’t matter. Nothing matters but your character, your track record, and if you leave people a little better off than before you met them. From Claude, business leaders, employees and entrepreneurs can learn to be more open both on social media and in person, allowing them to build more meaningful relationships and connect on a deeper level. A deeper connection can mean more leverage but it also means a more lasting impact on the world.
“Everyone has something they can share. I’m not famous. I don’t have anything that would be newsworthy, but I have stories.” – Tafta Johnson Watson
2. Committing to a strong value system
VaynerMedia has some serious values for such a large company and those values are expected to be upheld by every employee and visitor. Values like kindness, empathy, honesty, hustle and the art of not complaining.
With Claude holding the title of Chief Heart Officer, she is the guiding light for others. When recruiting, she says she “takes the time to evaluate an individual’s talents but most importantly their own heart”.
Gary Vaynerchuk is quoted as saying:”To me, there’s no debate that kindness is a strength. And it breaks my heart to know that so many people believe it’s a weakness. So many people are afraid that other people will take advantage of their kindness or make them feel “used.” But the truth is, those who take advantage of your kindness are weak on the inside. Feel bad for them, don’t let them make you feel bad about yourself“.
Both Claude and Gary teach aspiring entrepreneurs that it is okay to live with an open heart and that having the strength to commit to and live with a strong value system, will be a powerful tool during the hustle journey. It also allows you to go to bed at night actually liking the person that you are, nothing will kill a business faster than going to bed at night and hating yourself.
3. Listening with action
As mentioned above Claude’s slogan is: People need people. People need people that listen and then do something. As a woman who wears many hats, she is also an Outward Bound Instructor, taking individuals on amazing adventures in the outdoors.
Taking action on any given day can mean a number of different things but it speaks to her own character and driving force that she is able to not only guide people through the world of office politics but also through the serene and sometimes challenging wilderness.
Claude cultivates an environment of trust by first offering individuals her own trust. It is a huge and vulnerable action that leads to a relationship of love – heart – and productivity. Listening as an action is something that has the power to change an entire organization from an unproductive, toxic environment to one that promotes creativity, passion, inclusion and positivity.
“Relationships are leverage. If you give value to someone else first, you have leverage.” – Gary Vaynerchuk
To get the truest sense of how Claude was changing the way people work, I asked her co-workers to tell me what working alongside Claude has done for them. Here is one of the answers I received:
“During my time working alongside Claude, I’ve really come to appreciate her example of being a good listener. As a society, we tend to praise the power of speaking. But Claude demonstrates on a daily basis that the most important thing everybody wants is to be heard.” – Steve Babcock, Chief Creative Officer VaynerMedia.
I tried looking for images of Claude on her website and I think it speaks to how focused she is on holding space for others, because I couldn’t find a single full sized image of her to use. I googled. Writing this piece has opened me up to evaluate my own values and the way I connect with people in my daily life.
From this article, it is my own hope that entrepreneurs come to the understanding that although tenacity and true grit are really important, the whole of what Claude represents is something to strive towards. The “soft” skills you develop are humongous strengths and to truly impact an entire organization.
What’s the last random act of kindness you did for someone? Share with us below!
The 7 Secrets of High Achievers Revealed
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