2012 is a much-discussed year in the two most controversial areas known to man – religion and politics. Regardless of what you believe, you probably are still going to work on your music business. As 2012 is quickly approaching, you probably should set some SMART goals for it.
Lately, many of the artists that look to this site for support have been getting help on setting their goals that are Specific, Measurable, Attainable, Relevant and Timely. Working with these artists, we have run across some repeat goals. It is only right to share them with you.
Here are our SMART music business goal recommendations for 2012.
Legitimize Your Music Business by Incorporating
Sometimes we all need a kick in the pants. We get lazy and stoic when massive activity is not transpiring. This happens often to music acts, especially when only meager results are attained from our efforts.
When it comes to keeping your music business alive, it helps to have some extended motivation. One great way to extend it is to run your operation like a real business.
The best way to accomplish that is by actually establishing an S-corp, (Low-profit) Limited Liability Corporation or even just a DBA.
As a real business, the money you spend on instruments, legal and web development are viewed as expenses. You can possibly deduct those expenses on your taxes. If that does not alter the way you think about how you work, what will?
Running a legitimate business adds an allure of seriousness. Seriousness can be scary to creatives. Thing is, if you are not serious about what you do, do you think anyone else will?
Setting up a formal business should not be taken lightly. Visit the Small Business Administration to get more information on starting a business.
Define Who Your Customer Is
If you vibe with the 1000 true fan concept, then answer this. What are your true fans like? Do you really know what they want or expect from you?
One of our most popular posts offers 5 steps to getting 1000 true fans. Then we offered some music industry secrets to complement these steps. One of the biggest secrets we shared was the art of LISTENING.
Once you define who is going to help you stay in music business, LISTEN. Take the time to get acquainted with these people. They are all individuals. Therefore you will need to figure out how to deal with their unique habits.
Which leads us to our final S.M.A.R.T. music business goal recommendation…
Establish a RELEVANT Rhythm Keeping up with Your Customer
If you read how Stones Throw is losing, you know the lesson. Do not assume that your audience just wants to hear everything about you.
It might help to survey your true fans to figure out what they want. Ask them how often they would like to hear from you. Ask them what would they want to know. Once you do that, set up your communications to fit their preferences.
This can mean you will need multiple lists in your email service. You may need to set up a Facebook group for the rabid true. The only way for you to know though is to ASK and LISTEN.
Okay, that is it for us. What about you?
What are your goals for 2012? Are you intending for this to be your breakout year? Let me know in the comments. Everyone that does will be invited to a new mastermind group I am starting.