Music Business Hacks

The Daily Habits of the Self-Made Musician

#291 – How to Dominate a Niche Market pt 1: Find a Need

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Today, I’m kicking off a new series specifically on niche marketing and business development. This episode is focused on the foundation for any business: identifying needs to fill. In addition to sharing some of my own experiences, I’ll also show how companies like EZ Laundry and Netflix used similar principles as other artists in order to launch their businesses!

Identifying Needs to Fill: The Foundation of Success

Finding and addressing unmet needs is crucial for the success of any business. Here’s how to get started:

  1. Conduct Market Research

    • Surveys and Polls: Use surveys to gather insights on consumer pain points and preferences.
    • Industry Analysis: Study market trends and identify gaps within your industry.
    • Competitor Analysis: Analyze what your competitors are missing and how you can differentiate.

  2. Gather Customer Feedback

    • Direct Interaction: Engage with potential customers through focus groups or one-on-one interviews.
    • Online Reviews: Analyze reviews and feedback on similar products or services to identify common issues.

  3. Observe Behavioral Patterns

    • Consumer Behavior: Observe consumer behavior in different environments to spot inefficiencies and unmet needs.
    • Technological Trends: Stay updated with technological advancements that could offer new solutions.

Case Studies: EZ Laundry and Netflix

EZ Laundry

EZ Laundry identified a common problem: the hassle of managing laundry in busy households. They filled this need by offering a convenient, on-demand laundry service with features like:

  • Pick-up and Delivery: Providing door-to-door service to save time for customers.
  • Customization: Allowing customers to specify laundry preferences (e.g., detergent type, folding options).
  • Subscription Plans: Offering various plans to cater to different needs and budgets.

By focusing on these pain points, EZ Laundry created a valuable service that addresses a real need in the market.

Netflix

Netflix started by addressing the inconvenience of renting movies from physical stores. They initially filled this need by:

  • Mail-Order DVDs: Eliminating the need to visit rental stores by mailing DVDs to customers.
  • No Late Fees: Removing late fees to enhance customer satisfaction.

As technology evolved, Netflix continued to adapt by identifying new needs, such as:

  • Streaming Services: Recognizing the shift towards digital consumption and launching a streaming platform.
  • Original Content: Producing exclusive content to differentiate themselves from competitors.

Applying These Principles to Your Business

To apply these principles, consider the following steps:

  1. Identify Your Passion and Skills

    • Leverage your unique talents and interests to create a business that you are passionate about.

  2. Pinpoint a Specific Audience

    • Define your target audience and understand their specific needs and pain points.

  3. Develop a Unique Solution

    • Create a product or service that directly addresses the identified needs in a way that stands out from competitors.

  4. Test and Iterate

    • Launch a minimum viable product (MVP) and gather feedback to refine and improve your offering.

Activity: Identifying Needs for Your Niche

  1. Brainstorming Session
    • Gather your team for a brainstorming session to list potential needs within your niche.
  2. Research and Validation
    • Conduct surveys and interviews to validate the needs identified during brainstorming.
  3. Prototype Development
    • Develop a prototype or outline of your solution and seek feedback from a select group of potential customers.
  4. Adjust and Launch
    • Refine your prototype based on feedback and prepare for a wider launch.

Automate Your Business Development with Latenode

Enhance your niche marketing and business development strategies with Latenode's automation capabilities:

  • Market Research Automation: Use automated tools to collect and analyze market data and consumer feedback.
  • Customer Interaction Management: Automate customer surveys, feedback forms, and follow-up emails to gather insights efficiently.
  • Product Development Tracking: Manage your product development process with automated project management tools.
  • Marketing Campaigns: Automate your marketing campaigns to target the right audience with personalized messages and offers.
  • Performance Metrics: Track key performance indicators (KPIs) and adjust your strategies based on real-time data.

With Latenode, managing the intricate details of niche marketing and business development becomes streamlined and efficient, allowing you to focus on innovation and growth.

References:

Episode #190: How to Find Your Niche

People I’ve Interviewed with a Unique Niche:
Episode #6: DaRealWordSound
Episode 48: Dez Cadena
Episode #162: Manafest
Episode #258: Shannon Curtis

#290 – Terry Crews on Mastering Self-Discipline

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Today’s episode was inspired by Terry Crews’ approach to self-discipline. We’re focusing on his 4 big tips for discipline with a specific focus on music business and entrepreneurs.

Watch the videos (part 1 & 2):



#289 – What Successful Artists Do With Their Free Time

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If you’re slightly obsessed with productivity (like I am), then you probably think a lot about how to make the most of your time. In fact, the idea of “free time” seems like kind of a misnomer because you think of it as more time to work on your music business. However, today’s episode is about taking a healthy look at developing a sustainable music business career – and that includes using your free time wisely.

References:

Episode #40 – Strategic Philanthropy and Your Music

#288 – How to Survive Touring in Severe Weather

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Severe weather is terrible for music instruments, vocalists, and our vehicles but sometimes it can’t be avoided. In today’s episode, we’re going to cover best practices and tips in dealing with severe weather.

Resources:

The best emergency roadside kit for bands (Kolo Sports Premium). It’s only $45 and comes with plenty of things to deal with quick emergencies.

Accuweather Road Trip Planner. Check it before leaving for tour!

AAA Auto Club – If you do get this, just spend the extra bucks for their premium service. The extended tow range is a must if you’re going through any kind of remote areas.

Verizon Roadside Assistance. This is my go-to.

How to Drive in Severe Weather guide from State Farm.

#287 – Dropshipping Your Merchandise with Print on Demand

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Templates for websites and tools by PayPal are making it easier than ever to create your own online shop for merchandise. However, a new option is becoming more popular: print on demand and dropship services. So which one is the right one for you?

Resources:

Artist Shops by Threadless

Merch by Amazon

RedBubble

Society 6

Example online store with Threadless

#286 – Interview: Michael Beinhorn, Producer behind Soundgarden, Ozzy Osbourne, Marilyn Manson, and more

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Michael Beinhorn has lived his life in the pursuit of artistic expression, first as a visual artist, then as a performer, and finally as a record producer.

Forgoing a promising career in medical illustration, Beinhorn began his musical endeavors in 1979 as co-founder of the seminal New York musical collective Material. The group’s singular style and strong artistic personalities led to their producing their own recordings out of necessity. As the band rose to prominence, in 1980 they were approached by Brian Eno, collaborating on the track “Lizard Point” from Eno’s acclaimed recording “Ambient 4: On Land.”

In 1983, Beinhorn co-produced Herbie Hancock’s landmark recording, Future Shock, which included the groundbreaking cut “Rockit.” The song, co-written and co-produced by Beinhorn, would become Columbia Records’ most successful 12-inch single ever, selling over three million copies and winning a Grammy in 1984 for Best R&B Instrumental Recording.

After departing Material in 1984, Beinhorn’s production career began to reach new heights. His work on the Red Hot Chili Peppers’ breakthrough albums “The Uplift Mofo Party Plan” and “Mother’s Milk” was instrumental in propelling the band to stardom.

Beinhorn gained a reputation for producing a number of “high watermark” albums that have helped to define the careers of a diverse range of artists, including Soul Asylum, Hole, Soundgarden, Ozzy Osbourne, Courtney Love, Marilyn Manson, Social Distortion, Korn, Golden Palominos, and Mew. His recordings have achieved combined worldwide sales of more than 45 million albums, and he is one of only a handful of producers to have two separate recordings debut in Billboard’s Top Ten in the same week, with Marilyn Manson’s “Mechanical Animals” (#1) and Hole’s “Celebrity Skin” (#9) also earning him a 1998 Grammy nomination for Producer of the Year.

In addition to producing, arranging, engineering, co-writing, and performing on many of his projects, Beinhorn’s attention to detail and tireless pursuit of sonic excellence led him to develop and commission the first two-inch eight-track Ultra-Analog multitrack tape recording format.

In recent years, Beinhorn has turned his attention to the concerns facing today’s artists and producers attempting to maintain their creative ethics and focus on the recording process. He has been increasingly active in mentoring fellow artists and aspiring record producers. He addresses these and other pertinent issues in his book “Unlocking Creativity”, published by Hal Leonard. He continues to inspire the artists he works with to excel to greater heights, with an unwavering commitment to sonic exploration and creative excellence.

Resources:
Michael Beinhorn official website
Michael’s book: Unlocking Creativity: A Producer’s Guide to Making Music and Art

Other books we discuss:
Bhagavad Gita
Sculpting in Time

#285 – Recap: Resolutions, Revisiting, and Habits

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In today’s recap, we revisit some of the big ideas you should be considering as you tackle a new year of music business.

Resources:

Episode #276 – The 7 Things You Should Do Everyday
Episode #277 – Are you marrying your fans or dating them?
Episode #278 – Can you Copyright a Dance move?
Episode #279 – How to Keep Content Going When You’re in between Releases
Episode #280 – If you’re going to SXSW
Episode #281 – Why Resolutions Don’t Work
Episode #282 – Starting Your Own Label
Episode #283 – Replay: books, articles, podcasts
Episode #284 – How to Juggle More Than One Band

#284 – How to Juggle More Than One Band

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How do you handle multiple music projects and commitments? It’s like trying to run multiple businesses! In today’s episode, you’ll get some guidelines on smoothly handling each of your competing priorities.

Resources:
Episode #24: Why Every Musician Needs an Intraband Agreement
Episode #267: Interview with Carl Stuck

#283 – Why You Should Reread Books & Replay Podcasts

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We often rewatch our favorite movies, TV shows, and videos on social media, but why is it that we seldomly reread the books that have made the most impact in our lives? There are a lot of benefits to revisiting content, especially when it comes to music business. So today, we’re focusing on why and how to do it.

#282 – Starting Your Own Record Label

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I discuss the pros and cons of starting your own record label for releasing your own music. What are some of the benefits? The challenges? And what is the point?

Resources:

Episode #62: Interview with Scott Stratton of Finance for Musicians
Episode #40: Strategic Philanthropy and Your Music
Episode #118: Art and Activism
Episode #37: Band manager, publicist, booking agent, lawyer: who to hire and when?
Episode #147: How to Get Press Coverage Without a Publicist