Run your indie rock band like a company

In the early stages of their career, independent musicians may realize that their duties don’t stop with performing and making music.

You cannot ignore the business aspect of your career as an independent musician. You’ll need to approach business issues with the same energy and creativity that you use to create your music if you want to achieve success.

The latter, however, shouldn’t make you feel sick! If you break down the process into digestible chunks, running your indie group like a company can be not only enjoyable but also easy.

Here are the steps you need to take to achieve immediate success. The first step is to establish your band’s concept.

Conceptual clarity

Define your concept, and be clear on all the details that surround it. Clarity is needed before you dive into the world of music. You need to know your genre, your sound and image, as well as your message. It’s not necessary to fit yourself into the box. Instead, try to fit in the 40-foot shipping container.

When it comes to developing a music marketing strategy, knowing exactly what you are “selling” is a great way to identify your target audience.

Create a mobile-friendly, professional website to promote your music online. Try Bandzoogle today!

Get insights into your audience.

Make it your goal to know everything about your audience. You’ll be better able to cater to your listeners if you know their preferences. Consider the following:

Do they prefer vinyl or CDs?

What are the most popular products amongst them?

What clubs, bars, and festivals do you frequent?

Where do they engage with marketing content most?

This information will help you make informed decisions about releasing music and producing merchandise. You can also plan your shows, tours, and marketing materials.

Strategic marketing

Any business requires a solid strategy for marketing. Create a marketing strategy to generate buzz around new releases, merchandise, and shows. This plan should include a calendar of digital posts for the artist’s website and other social media platforms. Consider different platforms, such as online magazines and music news websites.

Produce targeted and new content to connect with your fans. Share stylized photos of your band, videos of live performances, cover art, merch worn out by fans, etc. You’re on track as long as your content is grabbing the attention of the correct audience.

Smooth operation

Studio sessions, tour schedules, or merchandising design and production… These tasks should be treated as separate projects with specific timelines and goals. Determine the time, budget, and effort required for each project. Determine what ideal outcomes are. Establish criteria to measure the progress of each project.

You can then ensure that your efforts in the band are going in the right direction and will pay off.

Your fans’ satisfaction is directly affected by the smooth flow of your projects. It’s important to:

Release new music regularly and on time

Don’t cancel at the last minute. Book your tickets well in advance.

Stock up on your merchandise

Your pretty face will fill their social media feeds

You’ll need to put in some effort and practice to ensure that everything runs as smoothly as you can to meet the audience’s expectations.

Financial mastery

You need to keep track of your income and expenditures from the beginning if you want to turn a profit. Create a budget for your expenses, and then use the capital you have to open a bank account for your band. Save all your earnings from merchandise sales, show tickets, and streams. Continue to do this until you have enough money saved up for a huge merchandise order or a tour.

Budgets should be kept in check. Financial forecasts must be made, and economic milestones must be set. The ultimate goal is to make your band self-sustaining before you begin making profits. Self-sustaining means that you will need to have a steady cash flow in order to continue recording, touring, releasing, and marketing your music before you can make any money.

Contractual agreements: the need for “the same page.”

Create a contract with your band members to determine the percentage ownership. This agreement can clearly define the participation in capital investments and profits. Also, the division of responsibilities among members should be specified. All of these tasks, including marketing, bookings, and accounting, should be handled by the members assigned. To ensure the legitimacy of an agreement, it is best to have it checked by an attorney.

Sign an agreement that everyone can agree on. If everyone is on the same page, there shouldn’t be any room for arguments, complaints, or – in worst-case scenarios – ugly lawsuits.

Get your license

Finalize your preparations for success by putting your “business” into order. You will need to create a publishing firm to publish your music legally. You will receive your royalties if you do this.

You may want to register the band in the future as an LLC (Limited Liability Company). It is important to incorporate as an LLC in order to protect yourself and your bandmates legally. You can be protected from personal liability for debts.

You can open a corporate account if you are registered as a publisher or incorporated into a company. It is easier to keep track of your income and expenses, and filing your taxes will be much simpler.

It’s time to get down to business.

Musicians who treat their band as a business are at an advantage over those who only see it as a creative outlet. They make a living instead of wasting time and making a loss. Let’s summarize…

You’d like to be a successful musician.

A clearly defined concept is essential – an “offering” that can be “sold.”

You need to identify your target audience in order to satisfy their needs and preferences.

Market your project in a proactive and competent manner

In all areas, be well-organized and run like a well-oiled machine

Financially organized, responsible, and successful

To ensure legal protection, incorporate

Leave a Reply

Your email address will not be published. Required fields are marked *