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ronny abraham
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@ -7,3 +7,77 @@
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- [[https://www.youtube.com/watch?v=6B9aoPO4v1Y][youtube video]]
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* notes
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- some students like to start with multi-million dollar structures
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- this ambiition fallse prey to misinformation
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- you need experience in running a single LLC or DBA
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- don't overwhelm yourself
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** company types
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**** level 1: single member LLC
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****** basics
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- start small
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- business nursery
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- key operations
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- payroll
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- royalty collections
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- house copyrights
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- sound recordings
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- compositions
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- merchandise operations
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- design copyrights
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- touring contracts
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- small brand deals
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****** strategy
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- no one is really looking for you
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- its even cheaper to pay off than go to court
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- this is the starting point
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**** level 2; S-corp (160k gross)
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- when
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- when you get to 160k
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- ready to pay yourself a salary
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- better tax advantages
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- more intricate shareholder structures
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- enhanced credibility in the business world
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**** level 2.5: copyright holding company
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- mitigate risks
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- transfer copyrights to seperate LLC
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- music
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- merchandise designs
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- shields intellectual property
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- seperates day to day operations
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- secure music and creations
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- protect from business losses
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**** level 3: merch company
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- might become first hiring ground
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- handles
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- production
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- distribution
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- sales
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- other facets of merchandise business
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- allows scaling
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**** level 4: entertainment company (touring)
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- earning 1.5k - 2k per show consistently
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- separate potential liabilities between live performances from everything else
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**** level 5: brand deals company (optional)
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- becomes important when dealing with high value brand partnerships
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- isolate risks / protect core businesses
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** advice
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- use this to gradually build business
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- manage risks
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- set stage for growth and success
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** costs in starting an LLC
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- straighforward process
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- costs vary state to state
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- affordable
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#+title: Start with no money
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#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../../../_share/media/css/org-media-sass/categories/business.css" />
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* Links
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#+attr_html: :class links
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- [[../../toc.org][TOC - Music Money Makeover]]
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- [[https://youtu.be/JCBE4Wuq_W4?si=fF8MEksLjeNYDI65][youtube video]]
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* notes
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** why would an artist sign with no money
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- artist must be stupid
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- just wants to try something
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- someone close to you
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- has no real hope for their future and not worth it
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*** ask them why
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- find out what is going on in their mind
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** no money, experience, connections
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- you lose immense time
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- nobody gets younger, fanbases gets older
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** distributor is not a label
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- costs $30
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** liability and personal asset protection
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- no money to set up an LLC as a wall
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- or to hold your money
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- you are REALLY going to need it when the money comes in
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#+title: before you sign: 4 eye opening truths
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#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../../../_share/media/css/org-media-sass/categories/business.css" />
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* Links
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#+attr_html: :class links
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- [[../../toc.org][TOC - Music Money Makeover]]
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- [[https://youtu.be/tMtJB6UtGdg?si=tSYzNuS9KpgNy3iR][youtube video]]
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* notes
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someone is about to sign he gets worried
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you don't realize the type of power you have
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many artists give their power away
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** default companies
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*** you are the default record company
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- the artist is the Default Record Company
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- the artist has control over their work from the beginning
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- power to create and exploit the master completely
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- when you sign to a label you lose that power
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- that's transfering
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- a licensing deal is as bad as a record deal
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- you are by default the record company
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*** you are the default publishing company
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- your music is IP
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- you have rights over your compositions
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- you are an artist AND a businessperson
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- sometimes the masters you dont have wiggle room, but you still have publishing rights
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*** you are the default merchandising company
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- selling your products
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- selling products of OTHER BRANDS as well
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- set up a merch booth
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- selling your own tshirts
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*** you are the default touring company
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- if you sign with a touring company you have to tour where they say you can
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- you will lose out
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- you might want to get a booking agent
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** there is a manager for each company
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- music publishing administrators
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- merchandise managers / companies
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- tour managers or booking agents (single tour deals only)
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- general manager manages the efficiency of ALL companies together
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#+title: the real number of LLCs you need to start
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#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../../../_share/media/css/org-media-sass/categories/business.css" />
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* Links
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#+attr_html: :class links
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- [[../../toc.org][TOC - Music Money Makeover]]
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- [[https://youtu.be/23zHTcBUmLE?si=p5feYLjbNxmtJL0O][youtube video]]
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* notes
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- focus on action more than thinking
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- don't let yourself get locked into analysis paralysis
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- don't start too fast
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** you only need 1 LLC
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- build a financial profile
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- accumulate assets
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- learn how to flow cashin and out of the business
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** why do you need 1 LLC as opposed to more
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- you don't have enough risk on your assets (copyrights)
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- not enough cash flow to be managed under multiple
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- recurring cost of the LLC plus bookkepping and operation expenses alone will put you into the red
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** LLCs are the beginning of asset protection
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- you can always move things to more complex structures later
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- not necessary unless you are and know how to scale up very fast
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** when can I get two LLCs
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- when copyright assets are at risk because you are doing too much business with one LLC
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- publishing
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- signing show contracts
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- trademarking
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- merch, etc
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- operations of the business are getting risky
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- merchandising
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- customer service
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- customer satisfaction
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- problem with shows / tours
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- no insurence, etc
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** how to make assets valuable
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- awareness of music through promotion
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- what becomes valuable
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- masters
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- compositions
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- paraphernalia
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- logo designs
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** starting with
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*** one LLC
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- avoid unnecessary costs and complexities
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- more focused and manageable approach ot growing
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- business
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- assets
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- prepares you for future challenges and complexities as your business expands
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- enhances asset value
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- helps streamline operations
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- efficient
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- adaptable
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- understanding scaling
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- when
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- how
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*** multiple LLCs
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- financial strain
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- operational costs
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- complexities
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- operational chaos
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- hinders growth
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- damages reputation of label
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- asset devaulation
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- no proper focus or promostion
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- value not gained by assets
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#+title: 4 proven steps to grow a record label
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#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../../../_share/media/css/org-media-sass/categories/business.css" />
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* Links
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#+attr_html: :class links
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- [[../../toc.org][TOC - Music Money Makeover]]
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- [[https://youtu.be/O6hpcbYnN4g?si=2ruhbZMaI0z9u_2f][youtube video]]
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* notes
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- you need to know how to spend your money to scale your business
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** four pillars of success
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*** build a foundation for cash flow
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- where you are going to pull cash flow
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- logistics
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- planning
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- do it in different organizations
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*** find your niche
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- you cannot promote a product or personality if you havent defined the niche
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- otherwise constant pivoting
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- unstable
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- you must have a genre because the public needs to define you
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- this allows you to scale within that niche
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*** target the right market
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- demographics are key
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- you cant go too big and broad if you want to scale
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- finding the right market for your niche is key
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*** develop a promotion strategy within the market
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**** what medium are we selling
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- physical
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- digital
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- both
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**** what promotion method
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- tic tok
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- facebook
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- youtube
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** how to do this
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- artists must study themselvse
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- see where they stand in the industry
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** marketing
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- should i start marketing and promoting before starting a business
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- you should only initiate small marketing and promotions plans for the sake of testing the validity of how good your music is with the public before spending serious money
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** planning
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*** planning to win
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- foundation is solid
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- system will be built for inital cash flow
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- plan for marketing promoting and scaling
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- remove more guesswork that you can believe from your business
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*** planning to lose
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- causes breakdowns in your future and foudnation
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- increases lack of direction
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- can lead to halting musical endeavers
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44
_subsections/music-production-company/v23-panda_express.org
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44
_subsections/music-production-company/v23-panda_express.org
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#+title: how panda express created a billion dollar music blueprint
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#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../../../_share/media/css/org-media-sass/categories/business.css" />
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* Links
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#+attr_html: :class links
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- [[../../toc.org][TOC - Music Money Makeover]]
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- [[https://youtu.be/wUtWT_uhDGA?si=Pa9oQqLcT_XdlEH3][youtube video]]
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* notes
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** why Panda express wins
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- try before you buy
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- 3 purchase tiers
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** items
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1. items ready before the sale
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2. 10-15 main products
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- decided what is good and what isn't
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- send out pieces of the song to see what people like
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- battle test
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3. 3-5 "sides" to experience the main dish with
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- audio
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- visual
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- subscription
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** sample before purchase
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1. the customer needs 2 months of content before they listen to spotify
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2. otherwise use social meedia
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3. the average user is not a connoisour
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- looking for dopamine
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- keep putting out free samples until they buy
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- should have 2 or three
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** suggestion
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*** create the product first
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- test it
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- focus on 10 final slots
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*** approach and frequence
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- frequency of the delivery you can afford
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*** merch
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- $10-$20 range
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- looks cool
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#+title: why 95% of artists fail to make 1k
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#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../../../_share/media/css/org-media-sass/categories/business.css" />
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* Links
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#+attr_html: :class links
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- [[../../toc.org][TOC - Music Money Makeover]]
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- [[https://youtu.be/6kApZ9Fcm2k?si=X1LVtqstBVIAFh3y][youtube video]]
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* notes
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6
toc.org
6
toc.org
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@ -14,6 +14,7 @@
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#+attr_html: :class contents-overview
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- [[./_subsections/dailies/legally-print-1k-in-7-days.org][LEGALLY PRINT $1K in 7 DAYS on YouTube as an Artist! (No Money Needed)]]
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- [[./_subsections/dailies/ten thousand dollar fundamentals.org][$10,000 fundamentals they wont tell new artists but I will!]]
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- [[./_subsections/dailies/interest-free-music-options.org][4 interest free music funding options]]
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** How to start a Music Production Company
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*** Playlist
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@ -67,3 +68,8 @@
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16. [[./_subsections/music-production-company/v16-timing_your_leap_into_publishing.org][insider secrets: timing your leap into music publishing]]
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17. [[./_subsections/music-production-company/v17-how_to_grow_an_llc.org][how to grow an LLC]]
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18. [[./_subsections/music-production-company/v18-how_to build while working.org][how to build a music career while working 9 to 5]]
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19. [[./_subsections/music-production-company/v19-start_with_no_money.org][busting the myth: why starting a record label with no money...]]
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20. [[./_subsections/music-production-company/v20-4_truths_before_you_sign.org][4 eye opening truths before you sign]]
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21. [[./_subsections/music-production-company/v21-number_LLCs_start.org][the real number of LLCs you need to start]]
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22. [[./_subsections/music-production-company/v22-4_proven_steps_to_grow_label.org][4 proven steps to grow a record label]]
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23. [[./_subsections/music-production-company/v23-panda_express.org][how panda express created a billion dollar music blueprint]]
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