BEFORE YOU TAKE THE PLUNGE

I am no rocket scientist but it doesn’t require incredible intellect to identify and understand the current devolution of the recorded music industry. The reasons and influences are many; too many to number and adequately address in this brief writing.

I have mixed emotions about this downturn. On the one hand, I am disappointed and concerned because the lack luster performance of records sales negatively impacts one of the things I love and care about the most, music. On the other hand, I am excited and encouraged by the vast array of possibilities this creates for the free expressions of many undiscovered, hard-to-position artists and musicians.

The industry molds are being tested and broken under the strains of the disappearance of music retail outlets, the concentration of retail distribution in mass retailers such as Wal-Mart and Target, the transition to digitally downloadable music content, and last, but not least, rising piracy. The majors are reeling from the devastating blow of these destructive innovations.

For Indie labels and independent artists this is cause for elation. While this slow down is proving catastrophic to the major labels, on many levels, it evidences an incredible opportunity.

While everyone loves the prospect of increased opportunity and certainly those associated with the things we are most passionate about, there are some things that must be considered. It has been said that before one would build a tower, they should first sit down to count the costs to be sure they have sufficient to finish. There is nothing more embarrassing and deflating than the bad press resulting from a miscalculated failure.

Therefore, I intend to share a few important things I’ve learned in releasing an album and breaking a new artist independently. I want to help you count the costs before you take the plunge.

1. CREATE AND UNDERSTAND YOUR MAP: Many would-be label start-ups aimlessly take shots in the dark. It is best to know your destination before you begin your journey. Many artists make a common mistake by approaching the business of music artistically. The context of the business is totally different from that of the art and it must be approached in harmony with that truth. You should be clear about whom your audience is, your target market. You should know how you would reach them. You should consider approximately how long it would take to reach them. You may want to consider what mediums are best suited for your audience. This may determine if you need to have CD’s pressed and packaged or not. While physical units still account for 80-85 percent of music sales this may have little or no bearing on you reaching your audience. There are many companies going to an all digitally downloadable content format. Be sure to identify your budgetary needs before you do anything. There is nothing more frustrating than discovering, because of poor planning, that you don’t have the capital necessary to reach your goal. Knowing your intended end before you begin will, in many ways, provide you the clarity necessary in knowing all of the tangible and intangible resources necessary to embark on your journey of musical independence. Be true to the map you create. So many failed attempts are the direct results of commitments to follow the paths, designs, and patterns of others. Everything that has worked for others may not work for you, and everything that hasn’t worked for others may work for you. Go in with the full awareness you will have pit stops along the way where you will have to refresh, refuel, and rest. These short stops should not be misinterpreted as failures. Instead, you can see them as necessary points on your map.
2. MAJOR IN THE MAJORS NOT IN THE MINORS: This may seem like an insult to include such a basic concept but this is often a concept that meets mutilation in real time. We are often inclined to focus on and deal with matters that prove to be of little consequence to the big picture in our endeavors. Therefore, be sure to focus upon excellence. Create and provide excellent musical products. Resist the temptation to spend your entire budget on the artist’s photos, flashy, artistic CD inserts, huge billboard ads, and outrageous release parties only to offer mediocre music. Make sure the albums you release have more than one or two great songs and the rest mere fillers or B records. Major in the music first! Then partner the excellent music that moves your listeners with sharp and professional images and packaging. Great music is much easier to market than the other stuff. Take a note from the majors. They spend millions to release singles, then doubles, because the albums only consist of one or two good songs and wonder why sales are at an all-time low. You can have great success if you major in the majors.
3. EDUCATE YOURSELF: I don’t know where the saying, “ignorance is bliss”, originated but be sure ignorance is not bliss. There is nothing as destructive and limiting than ignorance. You must commit to a journey of learning. The keys to your success or failure will rest in your desire and ability to acquire new and helpful information. T. Harv Eker teaches that failure is evidence there is still something we don’t know about the thing in which we’re engaged. If you intend to thrive in this densely populated sea of artists and labels you will have to establish a habit of learning. Research blogs and articles pertaining to the music industry, and read books on marketing and promotions. Look at the practices of others to perfect your approach. Some wheels don’t need to be reinvented. I am a consummate student and in my own studies I’ve discovered some powerful tools. These tools literally level the playing field and expand opportunities and possibilities exponentially. The complexion of my entire marketing scheme changed upon learning of the power of the Internet, social networks, video share sites, and blog and article post sites. You can now reach an international audience of millions for little to no money. If you don’t have a website, get one! If you have a site refine your keywords, Meta descriptions, and title lines to make your web presence more powerful. If your site is not optimized then the search engines will group you in with the undistinguishable and therefore, unknowns. Allow your site to work in concert with substantive and valuable content and you will unlock vast possibilities. It has been said, “knowledge is power” and knowledge is power over ignorance. So educate yourself and you can have extraordinary power.
4. STABILIZE YOUR HOUSE: This may seem totally misplaced or a little unnecessary but you’ll understand in a moment. There is no speed bump more jarring, painful, and arresting on the road to success than coming to realize the weaknesses in your own house. You must be sure to qualify the players on your team. This is not meant to make you suspicious of your team or partner(s). However, it is often a critical and costly mistake to overlook the lack of passion or commitment in your inner circle. You must be sure that everyone making the trek understands the degree of sacrifice and persistence necessary to reach the destination. You may have great passion and desire but be assured you cannot have enough for an entire team or organization. Synergy is invaluable to a new business, team, or organization of any sort and it seems all the more true of artistic business undertakings. Be sure to clarify, with your team, the underlying motivations for everyone’s interest and participation. Also discuss the timelines to which everyone is adhering. You may find when the timelines are different the interests and energies grow light years apart. You may not find any malice present in this disparity but it will have the same ill effect on the outcomes you’ve carefully planned and intended. “A house divided against itself cannot stand.” It would be wise to have open candid discussion regarding the expectations of all involved around compensation, royalties, and fees. This inevitably draws variable lines in the sand. If you can find people with like minds, who can appreciate the journey and process as much as the destination and profits, treasure it more than the spoils of your success. If you can all speak the same language there will be nothing impossible to you.
5. BE A DOER: You could be a veritable genius, know all there is to know about a subject or task, and still do nothing of significance or importance. Some people talk a great game only to crumble in the heat of engagement. Don’t be known as someone who spends his or her entire life on the drawing board. After you’ve created your map, identified the majors you should focus on, increased your knowledge base, and stabilized your house, DO SOMETHING! You will find no one is impressed with your intentions. You will not be remembered for what you say you will do. There is no award for having a dream. Everyone has one. We are to be remembered for the things we do, the people we inspire with our living, the lives we edify through our contributions to the world. So create great and timeless music and partner your great products with ingenious and innovative business practices and leave the world a better place for having been here. Blaze trails and allow the bodies of your works serve as monuments to your achievement.

For music’s sake,

Rashiid K. Coleman
President/CEO, Regality Records, LLC
www.regalityrecords.com