Make It Happen: The Official Blog

Mr. Freeman,
I just wanted to comment on your statement, and briefly offer a bit of advice.  
Your business model should address the particular needs, and refelct the specific goals of your company.  There may be some default templates out there, but the bottom line is that it all comes down to what you're trying to accomplish.  Your royalty rates are dependent upon what you workout between your artist and the publishing company that he signs with.  Your sales forecasting is going to depend heavily on your marketing/sales strategy.  I.e. you're going to have to decide how many cd's to press, how many to give away, how many to sell, the cost of the medium, the cost of the cover graphic, the cost of any additional marketing materials (posters, flyers, events), etc... You then take that information and set a price point.  This helps you clearly establish your marketing and sales objectives off the top.  It also lets you know if you need to bring in any outside investors, if you need to start looking into alternative forms of distribution (internet, mixtapes, etc), and if you need to scale back or increase your plans in certain areas.  Its really a game of balancing numbers, and every situation is unique.  No two business are the same, especially in the music business.  Different artist has different needs and individual strategies have to be developed for each one.  And since your business directly depends on this, your strategies must be exclusive to your particular situation.  In short set your goals, and develop your strategy from there.  You'll soon find out that all business have to follow this same process in some fashion, and once you nail it in one area, you'll be able to expand out and begin enterprising in no time!  Good Luck with everything!  Oh, and I'm really digging the music on your site!

William Morgan
CEO
Revelation Interactive
1-877-786-8530 x703
www.re

Dear Mr. Liles,
   I use to wonder why things happen the way they do. How did i end up finding your blog tonight? I so desperately needed to hear and read your words of wisdom.  I am definately going to get the book this week because I feel re-energized by just reading the excerpts. No, I'm not an intern. Though at times I very much wish there was someone locally who could teach me more.  I've had to create a scene in this area and people come to me in regards to hip hop/rap music production and artist management but.... I want more I want to be able to do more for my artists and producers,  I have been doing the independant record label thing but the truth is that I dont have proper financing at this time.  
My question to you Mr. Liles is what would you do when you have the music (5 masters ready), the image, and a strong foundation but not the money yourself to further the business?  My website is http://www.felony.net  
Do you solicit A&R your artists seperately?  Do you solicit record labels for Label Deals?  Do you just stay on your grind until the fairy a&r fairy comes and grants you your three wishes?  
Thanks for all your wisdom,
Ms. Jessy
Felony Entertainment

Mr. Liles,

Thank you for sharing your knowledge, and for inspiring those of us who want to follow in your footsteps.

I think it's great that the blog has been extended another week.
That's 7 more days that we will have to receive the valuable information that you impart.

I am particularly interested in the spreadsheets and charts that you mentioned in your book.

I have the standard accounting spread sheets for running a business but I would like to know how I could go about getting an excel template that is geared specifically toward the record business.

Royalty calculations, sales forecasting….etc.

I have a small independent label here in Detroit MI. called 111 Entertainment.

It is my intent to make my label run the way you made Def Jam run, very organized and professional.

Although I have a complete library of books on all facets of the industry, it’s never the same as getting information from someone as yourself, who has built a successful company from the ground up.

I would greatly appreciate any advice in regards to spreadsheets and structuring a sound business model.

Sincerely,

F.L. Freeman
111 Entertainment L.L.C
1249 Washington Blvd. Ste. 1611
Detroit, MI 48226

www.artistnow.com/111entertainment

www.111entertainment.com