*2* My Profitable Proposal For Those that Can Think In The FAST LANE *2*

[DeletedUser394]

Progress thread about becoming a MPUA.

 

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[yaleinnovator]

I'm curious what inlikeflint, the business partner, makes of all this. Supposing yaleinnovators idea really is good, what do you make of your business partner after now reading through this whole thread? Do you still think the two of you can create a successful business?

What if this idea really does take off, how do you know that yaleinnovator won't then cut you out or pay you back for your time in funny money?

Have you two met or spoken to each other on the phone? What can you tell us about this guy that makes you want to invest either time or money? Anyone who lets me jump into their company whenever and however I want would raise my suspicion. What do you make of this?

Yaleinnovator: What role do you see inlikeflint fulfilling, and how did you determine he is a good fit for your company? How do we know you aren't just trying to screw him over?

We aren't business partners, he's trying out for position in the company. We speak on the phone, long conversations. It amazes me that someone his age can be getting involved with business to the extent he does. When he told me he was 17 I was mind blown, not because of his age being associated with incompetence, but because to me it's associated with potential. Imagine a few years from now or when hes around your age how successful he can be. He's the smartest, most ambitious 17 year old I've ever met. So for that reason I'm just giving him the opportunity to show me note worthy action and I can consider him when he grows in the future. He's going to college soon and I'm helping him with ideas, recommending some books I've read to him. We just keep in touch. Nothings definite, hes in a no risk position with me, no worries.

Making more friends here on the forum as well. If anyone just ever wants to chat shoot me a PM, I'm always looking to talk ambition with other entrepreneurs when I can.

Now as much as I'd love to talk to all of you intelligent people, I really have to get to work. Moderators, please close this thread. Thank you.

 

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[forchunet]

This guy is most definitely a troll. Let's stop feeding him.

 

[dknise]

This guy is most definitely a troll. Let's stop feeding him.

Lol I was saying this last night to someone in Skype... Yale's the most optimistic, happiest, outgoing, friendly person that's ever come through the forum. And because of all those good qualities, we all think he's a complete tool hahaha. Ironic, no?

 

[PopEmersen]

Why in the world is this 4 pages long?

 

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[hedgehog757]

Why would you want to close this thread? it started out a little ridiculous but it has some interesting points from people who have made it. Maybe others can learn a little from it.

 

[yaleinnovator]

As a record label owner who's bootstrapped his company with a team of 3 other college students for almost a year now, I'm incredibly skeptical.

Having "performance technology" is not going to make your company successful. Maybe it'll make you feel a little cooler DJings parties for a couple friends, but it's not going to land you big festival appearances or thousands of fans. SEO is not going to grow your record label's reach. When people want to find new music, they don't do a search for "dubstep music" so they can see what there is to download. The music business is a relationship business: word of mouth, live shows, relationship building, and treating your fans well are the most important things. SEO software and performance technology won't help any of those (except actually executing those live shows, but booking them is the hard part)

Artists don't need record labels any more, they can do a lot of things on their own. What are you offering them that they can't get on their own? I know I could answer that question from my company's perspective, but it's an answer you'll need to come up with for your label individually.

What need in the MUSIC marketplace are you filling? What are you going to give consumers that Skrillex's label (OWSLA) or Dim Mak or Fool's Gold or Ultra or whatever else is out there ISN'T giving? How are you unique?

What's your business model like- how many revenue streams do you plan on having and what are they (because you will need A LOT)? How will you price your offerings and through what channels will you distribute them? Do you know the entire legal side of the business- from publishing (are you registered with BMI, or ASCAP? SESAC maybe?), to contracts, to sampling laws? What does your promotional calendar look like for a new release?

I'm asking you all of these questions and pointing these things out because I wish somebody had told me I needed to think about those things first. I jumped in head first, made some mistakes and failed to make a profit for almost a year, but thank god- with the help of some mentors/advisors/teachers who AREN'T in the music industry, I started to stop thinking that record labels were some exception to the things that make startups successful or the Fastlane Laws, and start thinking like everybody else.

You are not special.

Stop dreaming of getting famous and DJing to crowds of thousands, and start figuring out how you're gonna convince people that have BitTorrent one click away to pay you for music.

You'll see for yourself.

 

[CommonCents]

B-RAD must be out executing and earning the money he needs, good for him!

 

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