Fortunately, there is some good news: we at Prescription PR are here to give you some key tips on how to sell your music to the music industry.
And as your venture grows, odds are good that you’ll need help with different things in broad categories like strategy, finance, people and product.
Do you know everything you need to turn your idea into a billion dollar company? If you’re being honest, you’ll admit the answer’s no. The great news is that if you’re part of the right network you can get the advice you need.
If you’re like many entrepreneurs, you have so much on your mind that you don’t even know where to start when it comes to figuring out what you need help with first, second, and third.
And as your venture grows, odds are good that you’ll need help with different things in broad categories like strategy, finance, people and product. What follows are the kinds of advice mentors can deliver in the first three categories — and mentors who have helps start-ups with each.
1. Industry Vision
Your start-up should skate where the puck’s heading. If you are too consumed by the day-to-day, a mentor could help your start-up figure out where your industry’s heading so you can decide whether those tasks will lead to long-term victory.
LinkedIn Chairman, Reid Hoffman, can think about where things will be in five years and how to invest now in order to profit from that vision. Lee Hower worked with Hoffman at PayPal and LinkedIn and considers him a mentor.
Hower explained in a November interview that in 2003 Hoffman saw– correctly it turned out — that social networks would be important for business. As Hower said, Hoffman “was thinking about networks of people, products, and economic activity – which is why he ended up starting LinkedIn and investing in Facebook.”
GRAMMY Camp applications are due on Sunday and if you’re a US high school student who has been thinking about applying but is still feeling a bit hesitant then it’s your last chance to decide and get that audition video in. So, if you’re still not sure, then here’s 14 reasons to apply to GRAMMY Camp (I know lists like this tend to stick with 10 but I couldn’t narrow them down).
- Learn from top music industry professionals
- Meet and work with fellow music students from all over the country
- Get professional advice from guest artists and industry professionals
- Put on a Showcase concert or Launch Party in Los Angeles or New York at the end of camp
- Spend your entire day focused on performing, talking about, and learning about music
As the music industry’s traditional structures continue to fall away, new models are building upon unsteady foundations. Some of the new companies that stepped onto the playing field in previous years fought in 2012 to stay in the game. Major music companies merged and reorganized while digital startups gained more and more attention. Digital Music News reported that 1 in every 43 venture capital dollars was spent on music related businesses last year.1 One example, The Echonest, a music data and analysis company, popped up from under the radar and secured over $17 million in funding. With success stories from Amanda Palmer, Kickstarter pushed funding into uncharted territory, creating viable new streams of capital for musicians. Here are ten examples of trends and events that marked the music industry in 2012 and that will continue to have an impact on the months and years to come.