subject: Writing an independent record label business plan [print this page] Writing an independent record label business plan
The first query you need to answer before writing your business plan - what is a business plan? In short it is a roadmap for your independent record label business presenting anyone who looks as it what the goals of the business are and also shows how those goals should be achieved.
It's a fundamental tool for acquiring finance, as well as - bank overdrafts, loans and venture capital.
If you have a particular backer in mind you ought to manufacture it to their requirements otherwise how are you going to get any wealth out of them if what you have in your independent record label business plan is the other extreme of what they have in mind for a independent record label business
Your plan is not just for getting you the money you need - it's main objective should be to point the course in which your independent record label business is heading.
Do not fill your plan with big words for the sake of it - your financier might not have a clue about the prospective business - just a shed load of money that they want to throw at new businesses - they aren't necessarily going to known the independent record label business acronyms that you use on a day to day basis. Don't be afraid to use diagrams in your plan - this will break it up as well making it easier to read.
Take a crack at making the business plan as encouraging as possible but do not shy away from any noticeable problems there may perhaps be in setting up your independent record label business as your financier will more than likely have thought of them anyway; so if you can get their firstly and reply to the likely questions before they think of them so much the better.
Make a lasting first impression by presenting the plan in a clear and professional manner by using a clear, unpretentious design that conveys a proficient image and stay away from jargon, keeping the contents concise and hard hitting. Any technical or supporting information should be provided in the appendices.
Fiscal projections will be shown between the main body of the business plan and the appendices. P&L statements, Balance Sheets, Cash-flow forecasts etc. ought to be given in a separate section of documents. This will ensure completeness without sacrificing the flow of the text.
If your business is a new venture then give background information as to why you intend to start it. State the major advantages of your product or service. Point to would-be markets and explain your pricing policy and promotion strategies. Identify the competition and outline your proposals for dealing with it. Be positive and quick to the point.
Make apparent the experience and achievements of you and your management team and show how their skills can be harnessed to secure growth possibilities and profitability. Offer information on employment requirements including Curriculum vitaes for higher management in the Appendices and, if applicable, an organisation chart to illustrate the management configuration.
