3 Questions to Ask Before Going on Tour

You have heard it several times already: the music industry is not the same as it was 30, 20 and even 10 years ago! Today, you have to be a successful indie artist, before one of the Big Three record labels even consider signing you. A great way to promote your music and yourself, and gain more fans is to go on tour. Here are 3 questions to considers before going on tour:

What I learned from the experts

On the last post I learned several key factors for when I create my business plan. From the experts that I researched, I learned the importance of demonstrating that my team and I are the best to run this type of business. This is for when problems arise, the investor will feel confident that my team and I can handle it. Another key fact I learned was demonstrating the competitive advantage our business has in the market and industry. This includes knowing my business’s barriers to entry, and having a realistic view on raising capital.

            I plan to incorporate these useful tips into my plan by making sure I have industry experts on my team. Having experienced people from the industry on my team that investors can trust will clear them from any doubts they may have. Problems are definitely to be expected when starting a business, but having the right people to manage, execute and solve the problems of a business gives an additional strength to any business. Also doing a thorough analysis on the market and industry is something else I plan to incorporate into my business plan. By doing this, I can forecasts problems as well as the financials of my plan.

            The section of my plan that I consider most important for the investor to read is the Management section. I want to make the investor feel confident with the team’s ability and potential to run such a business. Other sections that are important in the business plan are the Market Analysis and Industry Analysis. When creating a business plan, you can never research enough. Showing the investor that I am knowledgeable on these sections will prove that my team and I know what we’re doing. The advice from experts to create the business plan will help me a lot next month.