It's time to plan Phase two.
Phase one was focused on getting my finances in order so that I could live the life I want, and get out of debt. But many of my goals are professional goals, which would lead me to attain the life I want for myself. Since I know that nothing in business is certain, I'm planning several business ventures to help diversify my income streams.
1 - Skyline Sound Studios - http://skylinesoundco.info
My recording studio would need to grow over the next 5 years to become a top player in the Columbus market.
2 - Project DIVIDE - http://youtube.com/projectdivide
The studio project I've embarked upon with equal partner Josh Zeise would need to start earning an income from it's music releases and merchandise sales, as well as possible live shows (if we develop into a live band).
3 - My Solo Career - http://facebook.com/brandonshiremusic
My solo musical endeavors would need to start earning an income from music releases, merchandise sales, and live shows.
4 - Establishing myself as a producer
Once Skyline Sound Studios is a viable income earner and a major player in the Columbus market over the next few years, I would establish myself as a freelance producer who travels around the country/world working on various recording projects while earning a kickback on Skyline Sound Studio's profits. (This is the key part that would eventually land me back in the Rockies, as I'd be based out of Denver, and have dual residency in both Ohio and Colorado).
So it's time for me to nurture Phase one while I plan Phase two. Where should I focus my energies first?
Skyline Sound Studios
I need to build my client base, and put out a product that will gain me much needed recognition in the Columbus scene. I'm working on three releases right now, and have been for a couple of months off and on (shifting my priority focus and energies to my impending money crisis of the summer as needed, which often hindered my ability to get things done on these projects). I'm about 80% finished with one record that I've been working on over the summer, and it just needs some editing and mixing touch ups to be finished. I'm proud of this one, but mad at myself for how long it's taken (at least I'm honest, but again, I've done what I can). This project needs to be first priority of the three, as the other two are projects that I'm involved in and aren't going to be as focused on reaching members of the local music scene as this first project. Once that's done, I'm confident that it will drive business into my doors since it would be going out amongst the consumers of the local market and be heard by many potential clients. Strategically, this one is my first priority of the three. The second would be the first Project DIVIDE EP, and the third would be my first solo EP (which is a re-do of older songs, and shouldn't take as much time, but has a lower priority because I can work on my own project any time.
So my first area of focus would be to get these records done and released, in hopes that they drive more business to Skyline Sound Studios. But once I get more business, what then? Well, if I'm able to make ends meet off of my day job income (as noted in Phase one), this would mean that any income from any of these business ventures can be placed into a business account to help me build the businesses! For instance, since Skyline Sound Studios is based in my home, and I'm utilizing about 20% of my energy consumption for the studio's use, about 20% of the studio's income could be transferred to the shared expense of living in this house and running the studio out of it. So 20% would be usable for electricity, water, gas, rent, high speed internet, ect. The remainder of the money earned at the studio would go into a business account. This would be there to help with equipment maintenance and replacement costs, as well as advertising and marketing costs. This would also be usable to help me relocate the studio to a new location in Columbus as time goes on.
As the projected growth for the studio occurs, I would be able to hire employees to work on a per-project basis. This would allow me to focus more on building the business itself through marketing campaigns and advertising, and to hire sales people to bring business in on a commision basis. My eventual goal is to have Skyline Sound Studios become a self generating machine over the next 5 years, with employees bringing money into the machine and depositing the money into the business account. I'd manage the account, and pay what was needed out of the account, while collecting a kick back from the studio's earnings.
Once Skyline Sound Studios is a self sustaining entity, the road would be clear for me to focus more energy on building my name as a national producer. I'm still ironing out the details of this one, but I've got lots of time to get this ironed out. This would involve some branding campaigns of my abilities as a producer in the markets I want to work from, but again, I've got some time to figure out my method of attack for this venture.
Right now, I need to get these records done, stay on top of my classes, make sure I keep my day job, save whatever money I can (just in case), and work on getting new money into the studio so it can grow. So I guess Phase two would be to finish these projects so they can help to stir up new business.
We'll see you in 2017!
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