Investing money can be a scary time. It’s hard enough with established companies like Home Depot, Amazon, and Walmart, which have all seen their share of struggles on the stock exchange. Why should you even consider taking a chance on other online businesses? While you may have some good reasons to be panicked about the investing landscape, you shouldn’t let it stop you from exploring companies that are making wise use of the web and using it to grow their customer base and revenue. Online businesses make more sense as part of your investment portfolio in today’s climate than the brick and mortar companies do. How so? Consider the following:Online businesses have less overhead.While brick and mortar stores are rushing around doing everything in their power to cut expenses in a vain attempt at keeping profitability alive, online businesses are able to show high profit margins without the fear of job loss and costly cuts. Without a massive physical facility, a huge part of the business expense is eliminated straightaway. And the best thing is, technology costs continue to fall with each passing year. As it gets cheaper to exist online, it will become cheaper to do business there as well.Online businesses are progressive.Those, who build their business model on an online platform, understand that technologies change at a rapid rate, and the good ones are able to adapt to these technologies while staying profitable or even increasing profitability. With brick and mortar facilities that are still firmly committed to their physical locations and ledger sheets full of employees, it’s not possible to make the rapid changes that are often needed to stay profitable. By investing in online businesses, you can be at the forefront of these changes, and you can avoid the slowly sinking ship mentality that drives so many established brick and mortar businesses.Online businesses market more effectively.The online business owner understands that in order to wring out the most profits from the business, the best thing they can do is use the power of the web to seek and find new clients or customers. The cost of doing business online is much lower than it ever has been. While many other businesses are bloated with marketing employees and budgets that do little good to produce profits, more and more online businesses are making use of programming wizardry and social media to connect for pennies on the dollar compared to the “real world” competition.As you seek out businesses to invest in for your portfolio, you must continue to realize that the World Wide Web is the future of almost every successful business. Put it to use for you and your portfolio today.
Just as in all industries, every year a number of trade shows take place where you can gain information on the music business, meet companies and people that will help you make your music career more successful.Music business trade shows usually have a conference attached, where you can hear the latest requirements from A & R executives from both the independent and major record labels. The conference will also include seminars from leading industry figures talking about the latest trends in the music industry.The seminars will give you invaluable business intelligence from within the music industry and will give you an edge when it comes to trying to sell your music. You will know who wants what and why, and you will have more success in the music industry because you are focused on the facts of what the industry wants from you, rather than hoping someone will ‘discover’ you.Recent topics at PopKomm, the leading music conference in Berlin, Germany for example related to getting your music sold independently online, getting filmmakers to use your music in their films, and selling music through mobile phones direct to the consumer.All these ways of making money from your music are now available to independent musicians like you, thanks to the power of the internet, and you don’t have to be a big multinational company any longer to do any of these things. Some of these ideas are explored in more detail in the chapter of this book covering independent distribution.Use trade shows as ways to meet potential partner companies and people who can help you take your music to a wider audience. When you register with the trade show organisers you will get access to the names, addresses, email, website, and direct telephone numbers of all the companies, executives, and people that are attending the show.Make sure you plan well in advance by researching each person thoroughly to ensure you are a good match – do not meet people who are not matched to your music, concentrate only on the relevant people in your genre to ensure the best use of your time. After you have researched the prospective people relevant to your music, you should email each person on your list, and follow up with a phone call. Be persistent, they will be keen to meet you but you have to pester them to get a firm meeting time as they are usually very busy people.Ask them for a meeting at the conference, get a firm time to see them, make sure in your initial contact you screen them again by asking lots of questions about what they are looking for at the show, and see how your music would fit to their needs. Get them to commit to a time to meet you. You now have a chance to do real business with the people that can take your music to the next level, your future business partners with whom you will share your success!Plan each meeting at the trade show by writing a list of 10 questions you want to ask so you feel confident about what you want to get out of the meeting.Make sure you take a list of your meetings to the show, with everyone’s mobile numbers written down. Trade shows can be crowded places, and it’s easy to miss people when there are hundreds of people crowded in the lounges and stand areas, so 5 minutes before your meeting give each prospect a ring so you can make sure you don’t miss each other.When you have the meeting keep it to no more than 15 minutes. This is a great marketing ploy, which shows that you are busy with other appointments, and you have no time to waste because you and your music are in demand.Make sure that you make an action point review on what any next steps might be after the meeting, and one week after the trade show, follow up with an email or phone call to the person you met to progress your actions.You will be surprised how quickly opportunities within the music industry become available when you follow this plan. Just like any business, it’s made up of people communicating with each other, and trade shows offer an ideal opportunity to get out from your rehearsal room, recording room, or just from behind your computer screen and meet the people involved