Posts Tagged ‘The Sound and Music Industry’

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Business Plan Update

April 24, 2012

Ok, so you have completed the first part of your business plan.

Now, using the template you have been working on. Expand on what you have already said by answering the questions on your next assignment brief which you can download here or by clicking on the link below:

DOWNLOAD YOUR ASSIGNMENT BRIEF HERE

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Template for Music Business Plan

April 17, 2012

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Freelance Business Plan Assignment

March 27, 2012

MUSIC BUSINESS PLAN ASSIGNMENT

Ok, we have spent the past couple of months covering all the areas you will need to understand in order to complete this assignment and in order to prepare you for working freelance in the industry when you leave college; financial management, tax, planning, promotion, social media, staffing and personnel etc.

Now you are ready to begin work on your Business Plan assignment. Make sure you read the brief carefully and answer all of the questions included. The criteria you are marked against is listed at the end of each question. DO NOT FORGET, IN YOUR EMAIL TO YOUR TUTOR, YOU MUST INCLUDE YOUR OPINION ON WHY IT IS IMPORTANT TO SHOW A PROFESSIONAL ATTITUDE AS A FREELANCE MUSICIAN.

Download your assignment brief here

This is the first of two assignments that make up your overall Business Plan, once you have completed this, you will be given the second assignment.

Your Deadline for this assignment is Wednesday 2nd May 2012.

Good Luck!

 

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Types of Business

February 1, 2012

Now you are becoming familiar with the idea of seeing yourself and your career as that of an entrepreneur, it is time to get to grips with the different types if business out there. It will be your job eventually to decide which of these paths you want your freelance career or small business to go down.

Read through the resources available at the given links and complete your question sheets, which are downloadable here, individually. Once you have done this you will form 4 groups and collate your responses in your groups, presenting a summary of your findings to the rest of us.

Here are your resources, find them by clicking on the relevant images.

Social Enterprise

Social Enterprise UK have many resources available at http://www.socialenterprise.org.uk, by cliking on the image of their logo you can download a key information guide on Social Enterprises, which will give you a good introduction.

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Registered Charity

The Charity Commission website http://www.charity-commission.gov.uk is a great resource for information regarding the legalities and practicalities of running a charitable business, there is also a very helpful guidance sheet available from Bedfordshire Community and Voluntary Service, which should get you started. Dowload that by clicking the image.

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Sole Trader

 

 

 

 

Information on how to become a sole trader is available from lots of places, the Business Link website provides an overview which will serve as a good starting point. Click on the image to visit the page.

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Limited Company

 

 

 

 

If you have been given this category, you have the biggest research job, as you have to take into account the TWO main types of limited company that are out there. That’s your first helping hand, here’s your second, a guide to starting out as a limited company from Business Link. Click the image to get started.

Remember!

These links, as with any resources out there, are not specific to the music industry, it is up to you to take the advice and guidance given, and think about how you can apply what you learn to a potential idea for a successful music business or freelance career.

Good Luck!

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Templates for Dragon’s Den Activity!

January 25, 2012

On this page you can download your three Business Plan templates, which you should critically analyse and decide, in true Dragon’s Den style, who to invest in. Remember to balance the quality of the business plan against the feasability of the idea. You MUST remember to keep detailed notes on the strengths and weaknesses of each one. Download them below:

Business Plan 1: The Scene!

Business Plan 2: The Strings

Business Plan 3: Freelance Producer

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Business Plan

January 11, 2012

Ok, so you have your basic idea for either your own small business or your freelance career in the Music Industry… (if you don’t already, decide quickly!) and thought about competitors, your unique selling point etc.

Now is time to turn that idea into something more solid. The Business Plan attached here is the first step in creating a concrete idea that you can use to launch your self-employed career in the music industry. There are grants and funds available to young and upcoming musicians and music technicians that you would not stand a chance of getting if you don’t have a good business plan. I have created a basic, simplified version so you can get used to thinking of yourself as a professional, rather than a student.

So click here (or on the link in the paragraph above) to download your business plan and work your way through it. We will look at it next session together to establish what is good practice and what is a bad idea when it comes to producing a business plan.

Good Luck!

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Your Business Idea

January 4, 2012

By now you should be near to completion of your ‘Areas of the Industry Assignment‘ so you should have a good understanding of how the industry is made up from the inside. Your next task is to learn how to manage yourself as a business.

The Importance of Having a Business Brain

This video shows Jay-Z talking about how big a part business plays in his success as an artist. This is a nice introduction to get you in the business frame of mind.

Identifying Opportunities

Click on the image below to download a pdf version of the PRS Music Universe infographic. This can be a good start to get you thinking about what type of business you want to run and how it would fit into the existing industry.

Types of Business You Could Run

There are many different types of business in the music industry, some will seem obvious, other less so. Have a read through the list of examples below and see if any inspire you.

Session Musician (Freelance, Sole Trader)

Producer (Freelance, Sole Trader)

Studio Technician (Freelance, Sole Trader)

Promotion Company (Limited Company, Partnership)

Artist Management Company (Limited Company, Partnership)

Events Management Company (Limited Company, Partnership)

Music Teacher (Freelance, Sole Trader)

Learn From the Experts

By clicking on the Music Think Tank image, you will be taken to their website. Music Think Tank is an incredible resource, made up of articles, advice and guidance written by people who actually carve out a living for themselves in the music industry. Study the categories down the left hand side and you will see things like ‘Music as a Business’ and Music Business Models’ as well as useful information in categories such as ‘Handling Public Relations’, ‘Crowdsourcing’ and ‘How To Make Money’.

Take your time to read through this site and engage with discussions by commenting on the blog if you have something of value to say or serious questions to ask.

 

Now For Your Idea…

In preparation for next session, answer the following questions and be prepared to discuss your answers.

1. What is your initial business idea?

2. What product or service will you sell?

3. What will be your sources of income?

4. Who will be your main local competitors?

5. Who will be your main national competitors?

6 How will you provide something extra or different from what your competitors are offering?

 

Good Luck! You’ll be like Jay-Z before you know it!