A Business Strategy for Independent Record Labels in 2019
Thomas, Josiah M.
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This Hip Hop business strategy includes situational analysis, case studies, a marketing plan, and operational plan. The other concludes with ten important lessons learned in the process: 1. If I am going to be an entrepreneur then it is my job to dive into things head first. I can only do so much planning and thinking. I must accept that I do not have all the answers and over time I will need to adapt. 2. Document EVERYTHING! Writing everything down all the time allows me to develop ideas thoroughly and easily retrieve that information at a later date. My pen and notebook should become one of my most prized possessions. 3. I cannot be afraid to change my mind. I am human and I will make mistakes. I cannot let my ego or my pride hold me back from making a change for the better. 4. To take any business to scale it needs have a well thought out process for every piece of the business. An exact way of accomplishing tasks that can be repeated easily by anyone. Every part of your business needs to run automatically. 5. Business is a team effort and I will need to trust and rely on my teammates to accomplish what we could never accomplish by ourselves. of 73 81 A BUSINESS STRATEGY FOR INDEPENDENT RECORD LABELS IN 2019 6. A good leader’s job is make everyone else better at their job and make their jobs easier. As a leader of this company it is my responsible to take care of everyone. I work for my teammates not the other way around. 7. I am deadline oriented. Setting deadlines for myself helps me and my team helps push the projects forward at the pace that is needed. 8. I cannot let setbacks dramatically impact my mental state. Feel them and learn from them but do not dwell. Do not overvalue what has already happened. 9. Some of my biggest weaknesses is that I let my emotional state affect my work ethic too often, I get too competitive when I meet other talented people, I will try to compete with them at anything even when it is about something I am personally not interested in, and that I have yet to identify my life’s purpose which can affect my ability to think in the long term and even impairs the speed of which I work. 10. Some of my biggest strengths is my ability to charge ahead into any challenge and execute even when I doubt my ability to overcome the challenge, my ability to manage multiple projects and people at the same time, and my ability to strategize and adapt to accomplish goals.