THINGS YOU MUST CONSIDER BEFORE CREATING A RECORD LABEL.
Recently, we have been seeing all kinds of Record labels and it got us thinking whether Some of these Artistes really consider certain things before starting a Record label.The fact that Olamide , Jovi , Olamide and many more have record labels does not mean you should just hurry and create one. These guys have been in the game for more than 10 years. You need to consider the following before setting up a Record label.
Passion over Money. Yeah we know a Record label is a company. It is a buisness unit and you definitely want to make more money by running a Record label but don't chase the money. To do any buisness, put your passion first before money. There is a satisfaction you get from doing what you like before getting paid for it. This is buisness and every buisness has risks. Investing into a label solely because you need money might be too Risky. Not all artistes Trend. You make money from a record label only after a long time. So if you had no passion for it, you might give up so soon. So choose Passion over pockets. Just concentrate and work. Produce good music and one day the money will enter.Creating a Record label because you need just more money might not work. Don Jazzy , Olamide and Jovi are now cashing out because they gave it time .
Set a Vision: Many Buisneses fail because you have no clear vision. What is Your Record label going to be about? Is it a culture house? What kind of music are you going to be making? You know many buisnesses fail today because of lack of vision. If you also want to succeed, make sure you stand out. That's the vision. You are different. Let the Artistes you sign understand your vision and where you guys are heading to. You must have a vision. Is it to promote the culture? Or you just want to create any type of Record label? Jovi definitely had a vision about selling Mboko rap to the world. He wants export Mboko rap to other parts of the world.Olamide and Don Jazzy had a vision of exporting Afrobeats and its working Z
Look for Partners.Before starting or Creating a Record Label, you don't have to hope on anyone but you need to look for partners as time goes on. It is not easy running a Record label alone. At some point you might even have to sign distribution deals. You can also get some family members who believe in you as your partners.
You will need Buisness Administrator , a Marketer, Someone who will get the whole world know about the label and its products. Many Nigerian record labels have partners . Some sign distribution deals like YBNL and EMPIRE .
Find Capital. You can't start a business without capital. I just see artistes releasing songs and giving names of record labels that don't exist. You need enough Capital to start a Record label.
You will need money for Audio Production
Promo and almost everything. You must have some capital to do this before hoping the investment yields more money . However you also need to know how you can manage the little finances that you have. Reason you need a Buisness Administrator.
Look for Talents. You can sign Producers, Artistes and even video director. Remember you have a vision right? The kind of Artistes you sign should fit into Your vision. Was your label to promote your culture? Sign Artistes who do music that fits into that. They are going to be the products your label will be producing and marketing.
Make sure you select them carefully.
You have to consider these things before you create a Record label if you want it to succeed
Big respect to Don Jazzy , Olamide and Jovi .