There is a lot of work put in when you are an independent artist. You question if your own independent artist business plan is working. There will be many times when it may seem impossible or even questionable about what the steps are or what the next step will be. To be a successful indie artist, you need to set realistic goals. A plan that not only will make you happy, but a business plan that will help you become an artist.
By having created a plan it will become easier to have an outline, or an idea on what comes next. Your plan is the blueprint to success, and it will provide you a road map to your goals. While there may be a few steps to get there here are something things to always remember:
- Research: What’s the new “new”, the trend, be a trend.
- Your audience: who is your target. These will be your followers, yours fans, keep them in mind at all times.
- There is nothing wrong with getting help: If you get stuck ask a professional, there is nothing wrong with getting advice on anything you don’t understand.
Now with this in mind here is your list and template to start your artist business plan.
1. What Is The Goal And Objective
Mentioned in previous articles is: what is the goal when pursuing life as an artist. Question why you are doing this and if this is something you will be motivated to do in the long run. If this is not an investment, it will take longer and you will be frustrated. As an independent artist it is a full time job plus more, you will be working non-stop all to reach one goal.
When a goal is set it is a way to lead to an objective. As all this may sound simple enough it is important to have something to work towards. Here are some quick samples to think about:
You can read more here on how to make money as an indie artist
Get a record deal
As simple as they may sound, its a goal that can lead to success.
2. Your Audience
While there is an article about that here, it is good to know the audience. Who the target is. Tastes in people and fans change so there will be an increase and decrease of fans constantly, so it is your goal to keep as many as possible.
This is where research and analytics come to help. Know what your audience likes and dislikes. If you are active on social media pay attention to what gets your likes as well as what people are ignoring. Interact and promote and build a bond with the audience, as you grow so will your audience.
I mentioned paying attention to the likes and dislikes, but what does that entail and how does that relate to marketing. For this case, marketing means marketing yourself and your projects.
The key here being: Promotion. Promotion and marketing go hand in hand. Creating an online presence is crucial for marketing. It helps you grow and evolve and be well known.
If you are dropping a mixtape, where will that be? Soundcloud?Apple?Spotify? If you are going on tour is it free? How much are tickets? Where? VIP events?
If you are questioning this then it begs to question: how active are you going to be on social media? These big picture events are a goal and promotion is key to be able to make it. So be active, promote it everywhere and interact with it always.
4. Products and Services
While this goes hand in hand with marketing it can also fall under its own section of the business plan. Reason being is because products and services make a name for themselves. Many know that retail stores need to be known for their customer service, so should you. If you want to sell merchandise, do not just sell a brand but sell a voice as well.
While music can be a main goal, having a happy audience leads to wonderful promotion. So as you sell your product, sell your service. If you have a team who is helping you it is also important for them to keep their voice positive as they are a party representing you. The last thing you would need is to have a negative impact in your service as you continue to grow.
5. The Financial Plan + Risk
While many of these plans seem great, they may seem impossible if you do not have a proper financial plan. It is important to remember you do not make a revenue instantly. Your revenue will come after all the hard work you have put in.
So when you start begin to sort your finances. Wonder what is the easiest, most affordable step. It is better to be honest with yourself than aim too high at first. Create a chart of possible resources, current revenue, and future revenue. Keep it updated and start small, like it’s said it is a process and you will have to work hard to get there.
After maneuvering money, yes there will be risks. Or even a loss. So be prepared to invest on what you need first rather than going big and risking it all. If you need equipment that is always a good place to start. From cameras, mics, even something as a better computer, these are all moves that will benefit you.
So you have developed your artist business plan. You figured out your audience, you started posting online, making music, you know your goal, and you have a set eye on how much you’re spending its time to execute.
Set reminders to yourself to keep posting and be active. You have to put in the work to make things happen. Set a timeline from 30 days to then 60 and keep updating, this way you can have a visual of what is working and when things are done.
Remember all of this work pays off, there will still be a lot of steps but with this it will lead to the right direction. The artist business plan is a constant 24/7 job and its always helpful to be prepared and ready for anything. Keep working, be active, and don’t give up.
If you need more tips you can read some here, a wonderful list of tips by Dame Dash.