The Fast Track to Starting Your Music Business
Blog by Music Business School under Finance, Law & Music Business, Music Training & Careers
Getting any business off the ground can be a challenge, but did you know that there is now a qualification available providing you with all the know-how to get your music business up and running?
The Music Business School teaches the new accredited qualification called Managing a Music Business Enterprise. (MMBE) Developed by Generator this fast track course gives you a complete grounding in all aspects of the music business via 13 full day taught sessions.
The Music Business School teaches the new accredited qualification called Managing a Music Business Enterprise. (MMBE) Developed by Generator this fast track course gives you a complete grounding in all aspects of the music business via 13 full day taught sessions.
In this blog Music Business School tutor Steve Melhuish outlines some of the key issues you will face when starting any kind of music business, be it in music management, starting a record label or becoming a promoter. This material is a précis of Units One and Twelve of the MMBE course offered at the London based school.
Their next course starts September 5th and could have you running your music business by Christmas.
Starting your Music Business
Starting a new music business is an exciting time no matter what part of the music business you are entering. Open your lap top, turn on your mobile phone and you’re in business, right? Whilst initial enthusiasm and a make it up as you go along attitude will break down doors to begin with there are still some business basics that you must get right if it’s not all going to be over before its begun.
Start by considering what kind of ‘entity’ you are going to operate as. Will you be self-employed are you going to set up a limited company or are you working with someone else and going to be in a partnership?
Each of these considerations will very differently effect what costs your new business will have to pay out and can effect what tax, you as an individual have to pay come the end of the financial year.
Having a realistic idea of what income you might actually make in your first two years and what costs the business will incur is essential. Will you as the business owner have to put cash into the business until income equals expenses? A simple budget will help you get your head around this issue.
The MMBE qualification covers these issues of basic business planning in Units One and Two and certainly doing a short business training course is a great way to understand some of these issues.
Apply Now for an Interview for our course commencing soon.
Marketing your Music BusinessMarketing your business online is a great low cost option for a new business but there are a few tips and tricks to look out for.
Facebook is a popular starting point in part because marketing products such as Promoted Posts and Sponsored Stories have a low cost entry point. However there has been controversy recently regarding bots driving clicks in advertising products on Facebook and chewing up advertisers budgets without delivering results.
Also these Social Media platforms require that you be…well…sociable. This might come naturally but requires that you still maintain a professional way of dealing with customers whom you interact with.
A casual comment can come back and cause you issues if you give someone incorrect information about a gig and watch out if you make a comment in the name of an artist you are working with and they don’t like it.
To make marketing efforts on social media really successful you need to give them a lot of time and understand on line marketing concepts such as A/B Split Testing and Analysing Tracking Data so that you know if your marketing is delivering value for money.
The MMBE qualification covers the integration of digital marketing in Units Twelve and Thirteen.
Apply Now for an Interview for our course commencing soon.
Tags
music business school, music career, music training, music industry, mmbe, generator
