One day, you’re sat at the pub with the perfect opportunity to do something you’ve always wanted to do, then you fast forward through a pandemic and somehow, you’ve launched a record label with your first act and have no idea what you’re actually doing.
A lot of people that start a company may have the knowledge to do so for that particular industry. Some have an idea that would easily blossom into a business but don’t have enough business knowledge to do so. I sit somewhere in the middle.
I have always been a consumer of music. Before I relaunched Caos, that was the only knowledge of the music industry I had. But I do have extensive business experience and learning is my hobby!
Down the rabbit hole I went. Amazon for textbooks, YouTube for tutorials, signed up for countless organisations that offer training, advice and resources to tap into the music industry. I asked people I know who have been in the industry hundreds of questions – at first, I kept saying “These are such stupid questions”, but I needed to ask them if I was going to do what I wanted to do.
Build a team? Four and a half plus freelancers. I say half, and you will find out what I mean by that some point soon! Funding? Let’s go with the flow there. Office space? Everywhere and anywhere. Social media? Only learned how to use Twitter, like, last week. Legal. Accounting. Health and safety. Business insurance. Vendors and suppliers. Gear. Equipment. The list goes on. Anyways…
Then you have that fear that always comes with starting a new business especially if it is a completely different venture from what you’re known for. What will people say? Will people give the company a chance or will they just roll their eyes and walk away because they think it’s just another person trying to tap into a very unrealistic dream? Will they use the fact that you’re a start-up and still learning to their advantage and possibly screw you over, or will you promise something that you truly believe you could deliver, but turns out you won’t be able to? All comes with the unknown territory. Exciting and terrifying.