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I am aware that many people may have started their careers without business plans but all the Major Labels people run to for signing all have business plans. So let us copy something good about them! There are so many wonderful templates you can use to write a business plan. Different banks will provide you with many different wonderful templates. Also you can access various templates online. However I have found a template that has always worked for me, and having looked at all the templates over the past few years I am pleased to be able to recommend the one below: Business plans must contain the following: Section 1: Introduction, otherwise known as Executive Summary. This should be the first part of your business plan, and it should contain the summary of all the aspects of your business idea. It must include your background, history, a summary of how much you want, summary of market, potential sales etc. It should tell the reader within these two pages everything one needs to know about your business. These two pages are so important that the reader must have a good understanding of where your business is going, by simply reading them. Some have suggested it should be the last section to be written. In some sense I agree that it give a better opportunity to adequately summarize the whole business plan. When an investor seeks to invest in a business, most do not read pass these 2 pages, so put in the effort! Section 2: Marketing planning This must contain your industry overview, sector overview, competitors, business to business, consumers, marketing strategies; product, place, price, promotion, and gross strategy. Section 3: Operational Plan This looks at the structure of your business, management team, training requirements, equipment needed and insurances, etc. Section 4: Financial Plan This will consist of your survival budget, cash flow forecast - depending on who you are going to, they could require a 2 year cash flow forecast. They could also request for Profit and Loss, and if you are an already established business, you may need to provide a balance sheet here also. More may be required depending on who you are going to and how much you intend to raise within the industry. Section 5: Appendices Here you will have your pre-orders CV, letters of intent, and recommendations. These five sections can be written in any length depending on the amount of money sought by the musicians/artists/bands/labels. As an idea, if you are looking for an amount between 1-20K then a 20 page business plan could work. However if you are looking to attract up to 100K you need to have a 50-70 page plan. The important thing is to start today by writing a business plan. If you want more information, the FREE course in my resource box will be very helpful. Happy Writing! GOD Bless!
Boomy Tokan a Music Business Expert says there are many ways to make money with your music and build a lasting career in the music business but you need to have the business "Know How". Visit http://www.musicbusinesstools.com for a free Music Business Management course Now!.
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