Music Business Development

Your project is born, lives and thrive based on the substance of its soul.

Discovering what makes your project relevant is a soul-searching journey. Very similar to a coming of age process. You’ll need to help your project find its own identity, mission, and voice.

We like to promote 2nomads as self-discovery for the music industry, and those are not empty words. Soon after we started 2nomads, we realized brands and music marketing by themselves were not going to help our clients. Like most things in life, technique alone can only get you so far. So in the music industry as in relationships, if your project doesn’t have a meaningful and passionate reason to exist it will be hard to convince anyone else of its worth. Investing tons of money on advertising will only get you so far if you don’t fix that fundamental issue.

There’s something in common with almost every successful project; they have an excellent reason to exist and to fight for its existence and mission. If you’re not passionate about your project, it won’t survive. You have to need it, and you need to give your project a definite purpose in life. This vision will be contagious, will spread, and finally, it will attract the right people to it.

So let’s focus on the fundamentals of its soul: Your project’s vision and mission.

Basically, a vision is a view of the future, and a mission is the task that you’re going to undertake to make a reality of that vision.

Many projects don’t have a mission statement, but they often face the following issues:

  • Lose of focus: This causes projects to be all over the place. Working with clients they shouldn’t just make an extra income, hiring the wrong people in a hurry, and having a hard time prioritizing tasks.

  • It’s harder to communicate: If you don’t have a clear view of what your project stands for, it becomes tough to express what you do. This has a detrimental effect on your marketing efforts.

  • Decision-making problems: When a group of partners agrees on a vision and a mission it becomes way more natural for the whole organization to make decisions. This also includes any decision making employee.

  • It’s harder to have an identity: If the company doesn’t know what it’s about, it is very hard to implement proper branding and positioning campaigns.

  • Building a good team becomes difficult: Without a compelling vision and mission, you’re less likely to attract the best kind of people to your project and keep them motivated. And this includes you as well.

Before moving forward let me say to you that this probably won’t be an overnight process. Defining your vision and mission will most likely be an on-going process and an essential part of your project maturation process.

To craft a meaningful vision and mission, you need to start by asking yourself the following questions:

1. Who?

A thriving music project enriches lives. Your life, your team’s and the lives of your clients. So the most important question is whom do you want to help? This is your primary market segment. The better you can envision this, the easier will be for your project to offer real value to someone. Maybe by having a better understanding of the kind of music show they enjoy the most or the sort of web app that’s missing in the lives and could help them solve everyday problems.

Part of your marketing planning later on this book will be to find out more about your music market segment. To answer questions like where do they live? What music do they enjoy? What do they read? What are their favorite colors? All of this will help in shaping your brand and marketing. So you can speak precisely to the people you want to attract your project. It’s also an excellent time to select a very specific niche, ideally underserved where you can position yourself as an authority.

2. What?

What’s wrong with their world? You can describe what’s wrong with the world using single words or phrases.

Several members of 2nomads’ staff are also musicians, so it was easy for us to brainstorm about what’s wrong with marketing in the music industry and how we can help in solving those issues. So to give you an example here is what we consider is wrong in the music entrepreneurs’ world:

Most music entrepreneurs don’t know anything about business and almost loathe the words. Moreover, if they do, and need to find professional help with their music business development, branding and marketing they don’t have where to go since there are no specialized companies in the market.

3. How?

You need to position yourself to exploit your strengths in a way no one else is doing, or no one else is doing well enough. That’s the other key to music marketing positioning that we’ll discuss later on. For now, make yourself the following questions

How can you help them fix that issue and much would their lives improve?

Imagine that you’ve been able to solve all the problems your customers have been struggling with. What does that world look like?

For 2nomads if we can solve the problems I listed, our clients will be able to identify the current issues with their reach and project’s shape, reach their right audience and improve their lives in the process.

Time to craft your vision

Now that you know the who, the what and the how you can craft your vision statement. Our vision, for example, is the following:

We envision a world where music entrepreneurs are better able to make their statement and reach the people that matter to them.

And to give you another example here’s Steinberg’s: Our vision is to be the first choice for people interacting with sound and music.

Define your mission as well

However, why stop there? Let’s work on your mission as well. Your mission is to make your vision real. But we also want to say how we’re going to go about it.

Here’s our mission: To empower music entrepreneurs to find their voice and communicate it to the world.

Let’s review three other missions and visions from the music industry.

LANDR is an intelligent platform that reinvents audio creation, collaboration, mastering, sharing and releasing using big data and machine learning. Its mission is to give musicians the power to create and get heard.

Soundcloud’s mission is to connect every human online through the power of music and audio.

Spotify’s: Give people access to all the music they want all the time - in a completely legal & accessible way

Be flexible

Before wrapping up the vision and mission topic, I want to bring your attention to something.

Let’s check out 2nomads’ mission one last time: Our mission is to empower music entrepreneurs to find their voice and communicate it to the world.

It might sound a bit too broad, and you might wonder why we didn’t focus our mission on just music marketing. The answer to that is that we reserve ourselves the possibility of accomplishing it by any mean necessary.

Nowadays it’s achieved through a series of services which includes music business consulting, branding and marketing. However, who knows what new methodologies the future might bring? We want to be prepared to embrace new ways to help us fulfill our mission, be ready to change and endure the test of time. Have that in mind when finding your mission and vision. You might need to go deeper than you think.

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About Ivan Duch

Iván is a long-time musician and entrepreneur. Nowadays he merges his knowledge of attraction techniques, marketing and his passion for music to craft impactful online presences for the music industry.

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