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How to launch your own music industry business

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The music industry is very broad in the aspects of building your very own profitable business these days. You don’t have to be a master musician to niche down in the music industry when you start a business if that is where your passion lies. If you have the desire to work with the performing arts or in music, there are many different avenues you can take that include sound engineering, stage managing, or teaching. You can build a virtual assistance service or social media management specifically for music entrepreneurs. The possibilities are vast and attainable.

But, how do you go about starting your own business within this competitive market?

There are many ways you can begin, but there are some tried and true ways that will be outlined here, and already knowing your niche of music is a great start to get the ball rolling.

Decide where to niche down

Your first action is that you have to decide where you want to narrow down in your business. Are you interested in offering a type of assistant or marketing service to musicians or music entrepreneurs, or would you rather work with sound and learn how to produce music, or maybe you would like to teach music. Tracy Reina, an accomplished vocalist, co-founder and owner of Music To Your Home out of NYC notes that “when you launch a business, it is of the utmost importance to have your specific niche market in mind. If that niche is music, then you need to dig even deeper to find out what specifically within the music industry drives you, so find that next micro-industry. The more specific you are about what you are launching, the easier it is to create, implement and market your own business. Identify what you do and who you’re helping. Find the pain points of your ideal client so you can offer exceptionally accurate solutions.”

Once you have your business path figured out, you can move onto creating a logo and branding. Sites like Canva are free tools that work well when creating your mood board, fonts, and colors that you’ll be using.

Network, network, network

There is a lot to learn from those who are successful within the music industry. The biggest hurdle is the knowledge of having to work hard to get what you want. It is essential when starting your own business that you get the word out as soon as you can. Start telling friends, family, neighbors, even co-workers (if you don’t think it will jeopardize your current job) about what you are doing. The more people that are made aware of your business, the more likely that it can be brought up in later conversations.

You can make some quick and easy business cards with your logo and contact information to hand out at various events and places you go. It is not necessary to create a website – at least, not yet. You can create a simple Facebook business page and Instagram business handle, where you can get the word out on social media. Look for Facebook groups that pertain to your ideal clients and join them if possible to establish yourself and start to make connections.

Practice for free

Your next step would be to get some practice doing whatever your business is. You want to build up a rapport, maybe with a friend or a friend of a friend who’s within the music industry who is willing to let you help them. Maybe you can barter services, too. For example, if your business is doing virtual assistance you can offer to organize a client’s calendar and sort their emails, contacts, etc. for some music lessons. Or, if you are going to be a music teacher, find someone who might want to learn a new instrument or study voice that hasn’t before so that you can start to get your feet wet.

Don’t think of this as giving away your talents and expertise for free. You have to start somewhere, and if you can build up a good rapport with a potential client or someone that you know won’t take advantage of your services, you can utilize them as a reference. Someone else singing your praises sounds so much better than if you do it yourself.

Develop your portfolio

When you have gotten enough examples of the work you’d like to do that you feel comfortable in, now is the time to show it off. Create a portfolio that demonstrates not only your experience but also your success. The reason you put yourself out there for free to start is to demonstrate the proof that what you do is valuable, and can lead others to success with their business.

You can make a portfolio fairly easily using Google Docs, or you can go back to Canva if you want to be more creative and detailed.

Get your finances in order

It is so important that you don’t skip this step. As you prepare financially to launch a business, you should plan to create a separate bank account specifically for your business and expenses, to make it easy to track. You don’t necessarily have to go and hire yourself a bookkeeper – you can wait to do that. But you should at the very least create some sort of tracking system, even if it’s just creating an excel worksheet that tracks what you make versus what you spend. This way you can keep everything related to your business in one place. Tax season can sneak up on you and you don’t want to not claim and deduct what you can when the time comes.

Pitch to your clients

Now that you’ve established some work and have a clear idea of how you’re helping your clients, now you can pitch. This is sometimes the scariest thing to do when you’re a new business owner. Decide if you’re more comfortable doing a cold email pitch or a cold call. Most of the time it is easier to reach out in an email or private message, but be sure if you go this route to remember to follow up.

Even if you don’t get a lot of bites to start, you’ve put yourself out there, and it only gets easier the more you do it. And many times people who hear a pitch that doesn’t need it right then will remember it when the time comes and they actually do need that service or assistance, and they will contact you for it because you made such a good and memorable impression.

Set your goals for success

The last thing you should do is write down your goals. Set them up weekly, monthly, and then yearly. When you launch your business create a map with a deadline for how long you want to be working. For instance, you could write down “I will pitch my services by email this week, and secure myself at least 1 client by the end of the month.” Take baby steps with your goals, so that once you obtain one you can reach for more.

When you’ve hit all your goals within your 6-month or 1-year mark, then you can work to actually start scaling and growing. Keep in mind it does take a while for a business to get off its feet, sometimes even a few years. But with diligence, hard work, and dedication, you can launch your business the most successful way to get yourself off to the best start.

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best.We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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