Independent Artists always undervalue the last quarter of the year. Be prepared for the new year and stay ahead of the game.
The 4th Quarter is the most important quarter in the business cycle. In our business, Fall, or the 4th quarter represents a period in our business cycle where we engage in specific activities required to finish the current year strong, and prepare for the next. Traditionally, the 4th quarter is extremely busy for artists. Artists who have been working on their material the entire year release their music at the end of the year and major labels make their considerations to sign artists to deals. The music industry cohesively prepares and brands artists for the new year. But If we’re not careful, the end of the year can come quickly leaving us short of our goals with no deal, or shrinking revenues and clients. We start off the new year under the gun playing catch up.
Feeling anxious or nervous? Being unprepared for the quarter can be stressful and mentally draining. Luckily, we are here to help you. So, If you haven't start planning for the 4th quarter of the year you better start now. So, where do we begin? What questions do we need to ask ourselves to be properly ready for the upcoming quarter? To avoid disappointment? Here are a few key questions you should be thinking about.
Who is your target market?
What is your distribution market?
Do you have a marketing plan and budget in place?
Have you generated revenue from licensing your music?
How much do you project to earn this year compared to last year?
These are only a few necessary questions to ask yourself to be properly prepared. But every artist/business/entrepreneur needs to have their own customized plan and really think hard if their decisions and actions have been effective in moving them closer to their goals. Constantly updating and improving your strategy will make you better prepared for whats to come in the ever turbulent music industry. Consult an Artist Development consultant at firstname.lastname@example.org