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Do you have a track record of discovering and breaking new bands, or a string of successful previous releases?Make sure to sell yourself and demonstrate your value.These are just some examples, so your SWOT analysis will depend entirely on your own situation Your aims and how you’ll measure progress What are the main aims of your record label?
Who are your competitors and where are your opportunities for success?
Understand your finances Whether you’re in it for the money or not, understanding your financial limitations and objectives is extremely important, especially if you’re hoping to grow and develop your label, or attract investment now or in the future.
Your strengths could include the following and reputation of your artists or access to studios and influential contacts, while weaknesses could include a current lack of funding.
Your opportunities could be any events or deals you’ve already secured, while threats could be strong competition from other labels, or a limited music scene in your local area.
Operations and management Who’ll be running the day-to-day operations of your label?
Will you be taking on any staff or partners to help you run the business?
Your pitch You’ll need to write an executive summary – in other words a short, inspiring pitch designed to showcase and create interest in your business. What makes it different, potentially profitable and more exciting than the other independent labels out there?
Strengths, weakness, opportunities, threats Set out your strengths, weaknesses, opportunities and threats – known as SWOT analysis.
Even better—if you’re pressed for time—we’ve compiled the 10 steps and examples into a downloadable (PDF) template: But, first things first …
A business plan is a comprehensive roadmap for your small business’ growth and development.