- Joined
- May 26, 2022
- Messages
- 36
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$295
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User Power: 78%
Hello Fastlaners,
I'm currently on month 9 of living in my 300 sqft Recording Studio (1. technically not allowed 2. I shower at the gym and use the kitchen at my Job),
the lease is $850 and I just recently started letting people in to record music (for free). I finished MFL audio book and physical copy recently and wish I'd discovered it sooner.
This is my first attempt to start a business and I'm not scared to fail because there's always something to learn.
With that being said,
My Dad came from Philadelphia to help renovate the space and we've put a lot of time/effort & money into this project BUT the MFL completely flipped the script on me.
Regarding the Cents framework
C - I don't really have 100% control of my business due to the fact that I can be kicked out of this space if the owner decides to for whatever reason
E - I think I'm good on Entry due to the fact that its quite expensive getting all the required equipment, necessities etc for a proper functional recording studio + having the knowledge & experience to know what the do with it all
N - I live in a college/ party town so there are ALOT of 20-30yr olds in my area looking for fun things to do (clubbing/partying) I thought a recording studio was missing in the area and would be a good spot for people to come
T - Time would be against me as I'd need to spend time in the Studio whenever people come
S - Scaling would be a challenge as i would need to open multiple recording studios & hire employees to operate said studios (which was the big picture at first)
I'm currently brainstorming how I can turn this road into a fastlane business (selling/creating music recording software etc)
but also theres a little voice telling me to change course, I dont want to switch prematurely and am going to give it a fighting chance still but I am getting worn out with not having a kitchen to make food or a bathroom of my own to shower etc
NEED SOME ADVICE/ GUIDANCE
Theres alot im leaving out but this will do for now, im going to write on here more frequently
I'm currently on month 9 of living in my 300 sqft Recording Studio (1. technically not allowed 2. I shower at the gym and use the kitchen at my Job),
the lease is $850 and I just recently started letting people in to record music (for free). I finished MFL audio book and physical copy recently and wish I'd discovered it sooner.
This is my first attempt to start a business and I'm not scared to fail because there's always something to learn.
With that being said,
My Dad came from Philadelphia to help renovate the space and we've put a lot of time/effort & money into this project BUT the MFL completely flipped the script on me.
Regarding the Cents framework
C - I don't really have 100% control of my business due to the fact that I can be kicked out of this space if the owner decides to for whatever reason
E - I think I'm good on Entry due to the fact that its quite expensive getting all the required equipment, necessities etc for a proper functional recording studio + having the knowledge & experience to know what the do with it all
N - I live in a college/ party town so there are ALOT of 20-30yr olds in my area looking for fun things to do (clubbing/partying) I thought a recording studio was missing in the area and would be a good spot for people to come
T - Time would be against me as I'd need to spend time in the Studio whenever people come
S - Scaling would be a challenge as i would need to open multiple recording studios & hire employees to operate said studios (which was the big picture at first)
I'm currently brainstorming how I can turn this road into a fastlane business (selling/creating music recording software etc)
but also theres a little voice telling me to change course, I dont want to switch prematurely and am going to give it a fighting chance still but I am getting worn out with not having a kitchen to make food or a bathroom of my own to shower etc
NEED SOME ADVICE/ GUIDANCE
Theres alot im leaving out but this will do for now, im going to write on here more frequently
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