Running a successful independent record label takes lots of hard work. A good business plan, good talent and proper management are essential to making this possible. Here are 7 things to you should avoid when running your independent hip hop label.
1. Choosing a name for your record label before you check to see if it’s already been trademarked: Can’t tell you how many times I’ve seen this happen. Someone chooses a label name, puts out CDs under it, and then carpets the office with the logo and name dead in the center, only to find out that someone else legally owns the name. I’ve even seen loyal artists get the label name tattooed on their bodies and cut in their hair. Damn! Oh well, at least the hair grows back.
2. No paperwork on your artists: This is a big-time FAIL. I don’t care how cool you think that artist is, things usually get crazy once the potential for making money comes into play. Paperwork not only protects the label, but it protects the rights of the artist as well. Nothing is worse then spending a shit-load of money and time on an artist, only to have them bounce out on on you when they get upset or see a better opportunity available. “I thought we was homies“, doesn’t fly too well in a courtroom.
3. No marketing plan: You press up 2,000 CD’s, get the company van wrapped with your face on it, and plan a lavish record release party. You ballin’, G! But you have no idea how you’re going to move those units. In fact, you still have boxes of product from the last project you released. Get a marketing plan, test it, and work a single before you go broke by spending unwisely.
4. Ugly-ass logo: This one is pretty self-explanatory. I’ve seen some company logos that look like a 4-year-old designed it and I can’t make out the letters or the image. Spend a little money and hire a graphic designer. Here’s a good test: see if your logo looks just as good without color. There will be times when you won’t be able to put your full colored logo on promo stuff.
5. Releasing a compilation of unknown artists:This is the first thing most start-up hip hop labels do. They neglect to put out a single and go all in on the compilation CD. They want to show the world their full roster of artists. The problem is, no one cares about them. Usually this is done in hopes that it will increase the chances of one of the artists on the label becoming successful. This seldom happens. It’s always better to concentrate on the strongest artist on the label first.
6. No website: If you’re trying to be a big-shot CEO of a label, you can’t use Myspace as your company website. Secure you’re label domain name and eventually invest in creating your own website. People will take you more seriously.
7. Trying to take on too many artists: It may be cool to have a deep clique, but signing or taking on more artists than you can afford only puts a financial strain your company and breeds frustration from artists waiting for their turn.
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