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Living in my Business with no kitchen or bathroom

Idea threads

Gavingonz

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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
 
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Bekit

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Business mindset: Why are you letting people in to record music for free? The typical business approach would be to charge for this.

Basic logistics: Have you set your rates? Do you have a way for people to pay you? How is this supposed to work?

Marketing: How are you getting the word out to people who might want to record with you? Who are your potential customers? How many of them are you contacting per day and per week to let them know you exist?
 

MJ DeMarco

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CENTS is the last thing you need to be thinking about, as of now it sounds like you're dealing with a "hustle" that can later turn into something bigger. Right now take care of your immediate needs, and stop worrying about CENTS.

This might help:

 

Johnny boy

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You'll only make money making music if you were made for it.

If I was going to think of making money in the music industry I would try to manage an artist, recruit talent, organize events, etc. I would not be making mixtapes. Events would be a lot of fun. Could turn it into a lifestyle business. I wouldn't waste my time trying to get a tenth of a penny per stream on spotify, or selling an album to people. Instead of trying to be a musician imagine putting crazy events together that bring in 50k in a night, you pay the musicians a few grand, 10k towards the event, and you pocket the rest. Now you're connected with the best entertainers, hottest chicks, etc. Could get there in a year or two.
 
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Gavingonz

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Business mindset: Why are you letting people in to record music for free? The typical business approach would be to charge for this.

Basic logistics: Have you set your rates? Do you have a way for people to pay you? How is this supposed to work?

Marketing: How are you getting the word out to people who might want to record with you? Who are your potential customers? How many of them are you contacting per day and per week to let them know you exist?
Business Mindset: My idea was to let people in for free so I can build my brand & expand my network plus get some more practice/ experience under my belt. I want to build a buzz first (people telling people who tell more people about the studio etc). Eventually id have a fan base that'd purchase shirts as an example or whatever I might happen to sell

Basic Logistics: I have not set rates. I do have an active website (moresoulrecords.com), I can potentially have people book through there (reserve time slots?) or venmo/cash payments.

Marketing: What if I make flyers & hand them out through the city? Maybe scour Instagram & other social media platforms for artists/ talent etc.
 

Gavingonz

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CENTS is the last thing you need to be thinking about, as of now it sounds like you're dealing with a "hustle" that can later turn into something bigger. Right now take care of your immediate needs, and stop worrying about CENTS.

This might help:


Online Business Definition for "Hustle":

"Hustling means working hard and doing your best to achieve success. When you hustle, you are busy and work with a lot of energy all the time."

Do you agree with this MJ? What is your definition of a Hustle?

P.S Unscripted just came in the mail today woot woot
 

Gavingonz

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You'll only make money making music if you were made for it.

If I was going to think of making money in the music industry I would try to manage an artist, recruit talent, organize events, etc. I would not be making mixtapes. Events would be a lot of fun. Could turn it into a lifestyle business. I wouldn't waste my time trying to get a tenth of a penny per stream on spotify, or selling an album to people. Instead of trying to be a musician imagine putting crazy events together that bring in 50k in a night, you pay the musicians a few grand, 10k towards the event, and you pocket the rest. Now you're connected with the best entertainers, hottest chicks, etc. Could get there in a year or two.
Thanks @ Johnny boy , way to think outside the box
 
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LiveEntrepreneur

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You'll only make money making music if you were made for it.

If I was going to think of making money in the music industry I would try to manage an artist, recruit talent, organize events, etc. I would not be making mixtapes. Events would be a lot of fun. Could turn it into a lifestyle business. I wouldn't waste my time trying to get a tenth of a penny per stream on spotify, or selling an album to people. Instead of trying to be a musician imagine putting crazy events together that bring in 50k in a night, you pay the musicians a few grand, 10k towards the event, and you pocket the rest. Now you're connected with the best entertainers, hottest chicks, etc. Could get there in a year or two.
That's interesting, the music scene is something that has interested me for a while as well but from what I've read it's absolutely brutal to get any kind of success in.
 

Johnny boy

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That's interesting, the music scene is something that has interested me for a while as well but from what I've read it's absolutely brutal to get any kind of success in.
go where people are handing over money.

"please buy my album it's only $3 I poured my heart and soul into it and have been a musician for 20 years"
"go kill yourself"

"hey come to this event it's called neofux and you just dance in a field and do drugs and it'll cost $49 to get in, plus we'll be selling you merch and food and you'll probably spend $300 here and catch chlamydia"
"sweet that sounds awesome!"

One of these scenarios made like $5 and the other made $30,000 in a week

People are doing shit that makes no money is the problem.
 

LiveEntrepreneur

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go where people are handing over money.

"please buy my album it's only $3 I poured my heart and soul into it and have been a musician for 20 years"
"go kill yourself"

"hey come to this event it's called neofux and you just dance in a field and do drugs and it'll cost $49 to get in, plus we'll be selling you merch and food and you'll probably spend $300 here and catch chlamydia"
"sweet that sounds awesome!"

One of these scenarios made like $5 and the other made $30,000 in a week

People are doing shit that makes no money is the problem.
Yeah I think the playing music live route is probably the way to go because it's what people want. But just producing albums right off the bat is risky, especially depending on the type of music you want to produce. Probably smarter building an audience before the product.
 
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StrikingViper69

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Work on getting more people in the door. There are more people making music than ever before, work on getting yourself booked up.

If it's a university town, find the music societies, band societies etc. Offer a deal to classical musician students who are probably great players - if you add a bit of video recording / editing, you can help them make videos and record their music, something every musician needs to be doing.

Every university rock band wants to make an album - offer them a deal and help them. Use studio videos of their songs as an upsell.

Are their local amateur orchestras / opera societies? String quartet groups? Reach out to them and offer them a deal.

Who are the musicians that are professional performers in the area? Do they have a project they want recorded? Do they want to start a YouTube channel but hate the tech side of things?

If you build a network of musicians, can you find local composers who want their music recorded?

Are there local music teachers who want to create "music studio recording" experiences for their students? Can you sell this to teachers as being good for them, a business investment? After all, if a teacher can show off their students with professional video / audio, they will stand out from the other teachers instantly.
 

Gavingonz

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Hello Fastlaners,

As mentioned in my previous thread:

" Living In My Business With No Kitchen Or Bathroom "​

I have a Recording Studio in San Diego where LOTS of young college kids come to party ( the streets are cluttered with lines of partygoers for bars/clubs/ restaurants etc on weekends)

I want more people to start coming to the Studio to bring awareness to it but my idea of walking up to potential clients & asking if they want to come to my studio sounds kindve creepy

Example:

Me:
Hey I'm Gavin, I just opened a Recording Studio right down the block from here (Shows Pictures/Website) would you and your friends like to come Record and Listen to some Music?

Them: HELP! 911
Maybe Also Them: Yeah Sure Man, that sounds Awesome!

What do you guys think?
 

Zardiw

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Palm Springs, Peoples DemoKratiK RepubliK of Kalif
Hello Fastlaners,

As mentioned in my previous thread:

" Living In My Business With No Kitchen Or Bathroom "​

I have a Recording Studio in San Diego where LOTS of young college kids come to party ( the streets are cluttered with lines of partygoers for bars/clubs/ restaurants etc on weekends)

I want more people to start coming to the Studio to bring awareness to it but my idea of walking up to potential clients & asking if they want to come to my studio sounds kindve creepy

Example:

Me:
Hey I'm Gavin, I just opened a Recording Studio right down the block from here (Shows Pictures/Website) would you and your friends like to come Record and Listen to some Music?

Them: HELP! 911
Maybe Also Them: Yeah Sure Man, that sounds Awesome!

What do you guys think?
Get some cards made and hand them out.........You can also make flyers and spread those around................Then there's Craigslist .........

You can also approach girls........and mention you've got a recording studio.......girls know a lot more people than guys do.........
 
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Last edited:

Zardiw

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Palm Springs, Peoples DemoKratiK RepubliK of Kalif
Work on getting more people in the door. There are more people making music than ever before, work on getting yourself booked up.

If it's a university town, find the music societies, band societies etc. Offer a deal to classical musician students who are probably great players - if you add a bit of video recording / editing, you can help them make videos and record their music, something every musician needs to be doing.

Every university rock band wants to make an album - offer them a deal and help them. Use studio videos of their songs as an upsell.

Are their local amateur orchestras / opera societies? String quartet groups? Reach out to them and offer them a deal.

Who are the musicians that are professional performers in the area? Do they have a project they want recorded? Do they want to start a YouTube channel but hate the tech side of things?

If you build a network of musicians, can you find local composers who want their music recorded?

Are there local music teachers who want to create "music studio recording" experiences for their students? Can you sell this to teachers as being good for them, a business investment? After all, if a teacher can show off their students with professional video / audio, they will stand out from the other teachers instantly.
I'd also get a YouTube Channel. Add videos of your recording sessions........

Z
 

SofiAlbert

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Hey man! Well first of all I have to respect the great mindset you have for this.

I disagree with a lot of comments here though, the music industry has changed SO much, hell, the way music is made has changed so much.

Me and my boyfriend have a loop selling business, and the producer/rapper industry moves money in a very different way. I think this is the community you want to be looking to join and work with.

Do you make music yourself on top of recording others? If so you can sell your songs in marketplaces like BeatStars or Airbit to begin with.

Youtube is a MUST, both to promote yourself and maybe teach others?.

For marketing, you're going to have to network like crazy.

I'm out of touch with local marketing strategies so I can only talk about online marketing: get a website so people can book and pay, and post on your social media channels, and promote that.

I can't think of anything else for now.

What I do agree with in the other comments is that you shouldn't worry too much about formulas for now. You can adjust and build as you go.

Feel free to message me so we can connect :)
 

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