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How to start your own record label

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Hello, I'm here to give you the run down on starting your own record label.

It may sound like a daunting task but it's really not as hard as most people might think...if you approach it in a structured manner.

What I mean by that is, you need a plan and if you stick to that plan it will go smoothly.

Your plan will include goals and strategies.

Map out what needs to be done then when and how you expect to accomplish it.

My first task or thing that needs to be done no matter what the project is research and whether you know it or not, that's what you're doing right now.

Once you have all the information you need, brainstorm on what needs to be accomplished in the next year. This will be an ongoing process, as when you start putting your plan into action things will change and you need to effectively adjust to those changes.

Consider brainstorming with other people, perhaps someone who can give you some insight on their experience in successfully starting their own business. A different take on the matter may open your eyes to new and different ideas you may not have thought of before.

When you finish brainstorming, set your plan or strategy to a time line.

Make reasonable goals that you will be able to accomplish. Setting unreasonable goals is a sure way to become discouraged and impede your progress.

Such goals as making a million dollars in the first year, the number of records sold or artists you'll be managing.

Make goals that you have complete control over.

The next step in your process is making your record label official. There are a couple ways you can do this. To incorporate or not to incorporate...that is the question.

You may ask, well what's the difference and how do I know which I should choose.

Well when you form a corporation, you will be keeping your business dealings, money, etc. completely separate from your personal assets.

To a major label, incorporating has its advantages, such as; limited liability, better tax options, and flexible partnership arrangements.

To incorporate: you'll need to register with the state you're operating your label in.

Not to incorporate: you'll still need to register your label name so you can do business in the name of your label. This process is simple, just go to your local county clerks office (that is the county clerk in the state you will doing the majority of your business in) and register your label name, this is called getting your DBA or doing business as license.

This is the option that most people choose to start there company.

A DBA allows you to conduct all of your business under your record label name, this is very important for any one trying to make money in any business.

Now that you have your foundation set, get to work and have fun

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