How to Start a Record Label - Creating a Business Plan

Can I just say... You don't need to compile a business plan if there's no investors. For example, when you're starting out as a sole trader (UK legal form) where you are basically the only one investing. However, if you're looking to get a loan from a bank, or are seeking other forms of investors, then they won't consider your business until you have a business plan.

Depending on your situation, a business plan may not be necessary and just a general waste of time. There are elements of a business plan that can be useful. I didn't watch the whole video so I may be addressing areas you brought up. However, a SWOT analysis of your business will be extremely helpful when developing your strategy even outside of a business plan.

If anyone ever is seeking advice, and are looking to understand the way to start and run a business, there are numerous resources online. You'll find all the information for free. Oh, I lie. You won't find good legal advice for free. Find a good practitioner in your local city. I'd advise that there's no urgent need for an entertainment lawyer. A general lawyer will do just fine in your early days, and are cheaper.

I'm in the process of launching my record label. I'd be happy to provide advice if anyone asks. In my opinion, I've always thought it was best to seek numerous opinions. Not one person can tell you how to do it right. It's all subjective.
 
M.C.-Exclusivo said:
Can I just say... You don't need to compile a business plan if there's no investors. For example, when you're starting out as a sole trader (UK legal form) where you are basically the only one investing. However, if you're looking to get a loan from a bank, or are seeking other forms of investors, then they won't consider your business until you have a business plan.

Depending on your situation, a business plan may not be necessary and just a general waste of time. There are elements of a business plan that can be useful. I didn't watch the whole video so I may be addressing areas you brought up. However, a SWOT analysis of your business will be extremely helpful when developing your strategy even outside of a business plan.

If anyone ever is seeking advice, and are looking to understand the way to start and run a business, there are numerous resources online. You'll find all the information for free. Oh, I lie. You won't find good legal advice for free. Find a good practitioner in your local city. I'd advise that there's no urgent need for an entertainment lawyer. A general lawyer will do just fine in your early days, and are cheaper.

I'm in the process of launching my record label. I'd be happy to provide advice if anyone asks. In my opinion, I've always thought it was best to seek numerous opinions. Not one person can tell you how to do it right. It's all subjective.
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This is true but even without investors involved, you still need a plan of action for any business even if you are the sole investor.
 
recordlabelhq said:
Thanks, why not? I have a free book on Branding at recordlabelheadquarters.com just subscribe to the mailing list for the free download.
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No problem with selling your book - but it is not to be done in the section that you originally posted this; that and the fact that the information provided falls well short of being useful, a nice little teaser into getting folks to buy your book so they can get inside of it.
 
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