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TOPIC: STARTING YOUR OWN RECORD LABEL

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Posts: 32

Date: Nov 2, 2007

STARTING YOUR OWN RECORD LABEL	Permalink

Do you have what it takes to start your own record label? First you must have the entrepreneurial spirit in order to become successful in this type of business. Hard work and long hours are a major requirement. You also have to have an outgoing personality and can handle rejection very well. Your major role will be to sell your products. Not everyone will be receptive to you at first. Thats why you have to have a thick skin. If you do not have any experience in sales, get some. Take a course at your local college or online. Some classes last just a few weeks or shorter. Or like so many other entrepreneurs do, hire someone that has the skills you need. Start-up cost estimated between $5,000 and $50,000. These cost include studio rental and hiring an engineer & producer for mixing, production, mastering, & pressing. If you have knowledge in these areas, you can do the work yourself and save money. CLIENTS In this industry, major labels would not sell to consumers directly. They network with distributors. However, being a small record label, you can sell your CD's at flea markets, expos, online, or mail order. (Reportedly, MASTER P the rapper sold his own cd's out of the trunk of his car.) You can also sell directly to music stores. INCOME Depending on how much work you put into your business, you would make between $50,000-$150,000 your first year. If you want to start a record label and become an instant millionaire, don't hold your breath. It won't happen that fast. If you are successful, you can negotiate with major labels and sign dual release agreements and make other deals. As an independent record label, you may be required to join certain organizations to even be considered a serious label. It is also good networking. Here is a partial list of organizations and industry associations: Institute for Independent Music http://www.ifimusic.org/ American Association of Independent Music www.a2im.org The Recording Academy http://www.grammy.com/Recording_Academy/ Recording Industry Association of America www.riaa.com OTHER RESOURCES: Independent Music Online www.ind-music.com 101 Distribution http://101d.com/ Songs Music Publishing LLC http://www.songspub.com/ __________________ LaCresha Wilkins Business Support Specialist/Moderator Wilkins Network Consulting

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