Record Label Business Plan

TAFW MSITDiploma

Record LabelWeek 4

Last week catch up: Label Names? Artist Management E-Portfolio’s. Websites Vs. Documents (Make

sure you are collecting information and documenting your learning/progress)

Attendance (Time Management & Team Work)

Notes

Record Label & Compilation What format? Call out dates? What music? Graphic Design? Media? PR & Publicity? Roles?

Deadlines: What do we need to do?

Deadline DatesTask Deadline

Record Label Name & Design

Compilation Name & Design

PR & Publicity (for call out)

Artist Call Out for Submissions

Artist Submission Cut Off Date

Selection Committee to arrange tracks

Social Media, Web, Online Presence

Mastering

PR & Publicity (when package is ready)

Showcase Gig

What else?

All these roles will link in with other roles, together we’re all ONE team.

Graphic Designer A&R to scout artists Business Plans Budgets & Accounts Admin (Email, Calls, Post, Follow Up’s, Doc management, File management) Publishing & Royalties Gig & Live Promotion PR & Publicity (Press releases and follow up’s) Photography and Film Advertising Marketing (Creative ideas) Merchandising Legal (Contracts and follow up’s link in with Admin) Social Media/Online/New Media manager Selection Committee members Record Label manager/ Compilation managers What else?

Roles & Jobs

A business plan is a formal statement of a set of business goals, the reasons

they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.

A good business plan can help you secure finance, define the direction of your business and create strategies to achieve your goals.

Business planning is an ongoing business activity - you should regularly review your business plan to keep it up to date.

Communicate the plan, Consider the audience, Plan for growth, Respond to change

Case Study Video: http://www.business.qld.gov.au/business/starting/business-planning/preparing-business-plan/business-plan-case-study-video

Business Plan

What problem does the company's product or service solve? What

niche will it fill? What is the company's solution to the problem? Who are the company's customers, and how will the company market

and sell its products to them? What is the size of the market for this solution? What is the business model Who are the competitors? How does the company plan to manage its' operations as it grows? Who will run the company and what makes them qualified to do so? What are the risks and threats confronting the business, and what can

be done to mitigate them? What are the company's capital and resource requirements? What are the company's historical and projected financial statements?

Typical questions addressed by a business plan for a start

up venture

What product/service will you provide? Is your idea viable? How will you protect your ideas? Is there a market for your product/service? What skills do you need? Who are your competitors? What difference will you bring to the market? Do you have the financial capacity to start a

business?

Analyse your Business Idea

Depending on what type of business you intend to start, your business plan could include these elements:

executive summary - a one-page overview written after your business plan is finalised

introduction - explains the purpose and objectives of going into business marketing analysis - looks at the industry you are entering and how you fit in

marketing plan - your marketing strategy

operations plan - how you'll set up the business, i.e. structure, location, regulations

management plan - how you'll manage your business

financial plan - how you'll finance your business, costing and financial projections.

What to Include:

Cover page and table of contents Executive summary Business description Business environment analysis Industry background Competitor analysis Market analysis Marketing plan Legal and risk management plan Operations plan (management plan and personal structure) Management summary Financial plan Attachments and milestones

Typical structure for a business plan for a start

up venture

1. Establish what needs to be done

2. Establish CLEAR deadlines for tasks to be completed

3. Have a clear deadline outline sheet finished by the end of class which can be uploaded to the forum.

Task 1: Deadlines

1. Discuss the roles that we have available

2. What other roles do we need?

3. Who will do what? How will we decide who does what so everyone is happy, but also learns new skills?

4. Have clear roles and responsibilities set up by the end of the lesson

5. Upload to forum

Task 2: Negotiating Roles &

Responsibilities

1. As a class start to unpack/analyse a business plan for the record label

2. What is our goal? Compilation album? Record Label? Change the face of music? Think outside the box to make the Brisbane music scene look at us as leaders?

3. How will we achieve our goals of the label/compilation?

4. What do we NEED to do?

5. Everyone to have a rough business plan of notes by the end of the day.

6. Upload to forum

Task 3: Record Label Business Plan

1. As a class discuss what the feel, look, idea, theme etc

of OUR label will look like.

2. Start to research designs individually that you like

3. Pull these ideas together as a class

4. Decide how we move forward to get a design made? I.e Do we employ a graphic designer or do it ourselves?

5. Upload to forum

Task 4: Record Label Design