I’ve yet to speak to an artist who has a business plan. In my experience if you don’t have a business plan, then you shouldn’t plan on being in business. A good business plan will cover your business and legal structure, your marketing model, financial projections, goals, benchmarks and finally what you’ll do after the your career is over.
I’ve met many recording artists who treat the music biz like a glorified hobby. They often don’t have business cards, a website or in many cases, a valid email address. Many more artists don’t have the marketing structure in place that will allow them to get the attention from fans or record labels. Remember that the music biz is all business. If you treat your music career as a hobby then you might as well just play your music for friends and family and be content with people pretending to take you seriously.
Getting attention and interest from record labels is easy if you are on the radar. Many Artist and Repertoire Representatives (A&R Reps) agree that if an artist is making it happen on for themselves (by selling a couple thousand CD’s locally or selling out a 2,000 seat venue) they will get on the major label radar. You can’t get on the radar of the record labels (or your fans) if you are flying by the seat of your pants and living on a prayer.
As a wise person once said “failing to plan is planning to fail”.