Get Educated

2. April 2010 by admin.

There are thousands of books written about the music industry. There’s no shortage of books written by rock stars and groupies, sure, and those are interesting in their way, but the ones you as a budding indie record label are going to need are those emphasizing the business side of the music.

There are a few major types of books to look for:

Overall Music Industry – This is the sort that’s going to include a decent amount of information about everything to do with the music industry. My suggestions?

All You Need to Know About the Music Business (I have the 7^th edition) by Donald S. Passman

This Business of Music (I have the 10^th edition) by M. William Krasilovsky and Sidney Shemel, with contributions by John M. Gross and Jonathan Feinstein

Marketing and Promotions – Selling your business, its music, and its artists is a huge deal, so don’t skimp on this. I went outside the box for my promotions literature, but here are some handy guides for you:

This Business of Music Marketing and Promotion: A Practical Guide to Creating a Completely Integrated Marketing and E-Marketing Campaign (I have the revised and updated edition) by Tad Lathrop

The New Rules of Marketing and PR: How to Use News Releases, Blogs, Podcasting, Viral Marketing and Online Media to Reach Buyers Directly by David Meerman Scott

Guerrilla Music Marketing Handbook: 201 Self-Promotion Ideas for Songwriters, Musicians and Bands on a Budget (I have the revised and updated version) by Bob Baker

Guerrilla Music Marketing, Encore Edition: 201 More Self-promotion Ideas, Tips and Tactics for Do-it-yourself Artists by Bob Baker

Web Marketing for the Music Business by Thomas W. Hutchison

Record Label Marketing by Tom Hutchison, Amy Macy, and Paul Allen

Music Law – You’re not going anywhere without a firm grasp of music law. The music industry is full of nuances and intricacies, and I don’t want you to be caught by them. Hell, I don’t want to be caught by them either. So, the definitive guide to music law, at least in my opinion, and then the one stop shop for contracts are listed here:

Music Law: How to Run Your Band’s Business (I have the 6^th edition) by Attorney Rich Stim

Music Business Contract Library (Hal Leonard Music Pro Guides) by Greg

When I went hunting for books at my local book stores, I looked for latest editions of each type. You’re going to need to do this, because the music industry changes so much so quickly that even a latest edition may not even be able to keep up, let alone a copy that’s five years old.

Some other books to think about:

The Future of Music: Manifesto for the Digital Music Revolution by David Kusek and Gerd Leonhard  

Making Music Make Money: An Insider’s Guide to Becoming Your Own Music Publisher by Eric Beall

I think it is also a good idea to have a book on how to start a small business. These would pretty much round it out for you.

            The Law (In Plain English) for Small Business by Leonard D. DuBoff, Attorney at Law

The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber 

Now, that’s a library, but I’m not done yet. You should also go online and research marketing tools from social networking sites like Facebook, MySpace, Twitter, and ReverbNation. I will give a full list of useful music and general social networking sites later, but social networking is going to make your life a heck-of-a-lot easier because it’s pretty much free. And free, my friends, is good when you’re starting a business.

That’s something else to think about. Where are you getting the money to start your business? Do you have donors, investors, a loan, a rich daddy? You will never- never- make money if you don’t put money into it. That is very important. You cannot get something for nothing. It is as impossible as creating a teddy bear out of thin air.

Let’s start, however, with putting some knowledge in your head. Get some of those books and start reading. If you aren’t completely deterred by all of that, I’ll see you back here next time!

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