Company
- Thread starter Cheese
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warzone (nov 5-9) signup begins in...
5th Sequence
Hip Hop Head, Certified
the first step is to research all you can about it before entering into it. Find out what it will realistically be like. But yeah, get a book, research for weeks on end about everything you can. Find other production companys and ask them a few questions about how they got started.
meh, its really not that difficult. If you make beats and you want to be the production company, its really just a matter of making it legal, for taxing purposes. First step is to register the business, likely as an LLC, and get you 401k and all those tax things filled out. If you have a lawyer, they will usully do it for you for a few hundred dollars.
After that, you will probably want to register with ASCAP or BMI or something in order to reserve your company name with them. Actually, this could be the first step just so you know what your company name will be before you actually register the business. Honestly, until you're dealing with major labels and selling beats on the regular, this isn't a huge deal. Until you're making too mcuh money to hide it from the government, you don't need to register the business...
After that, you will probably want to register with ASCAP or BMI or something in order to reserve your company name with them. Actually, this could be the first step just so you know what your company name will be before you actually register the business. Honestly, until you're dealing with major labels and selling beats on the regular, this isn't a huge deal. Until you're making too mcuh money to hide it from the government, you don't need to register the business...
StressWon
www.stress1.com
ill o.g.
Battle Points: 68
DWhyte said:
come on fam,,,be a lil more constructive then that,,,its a legit question,,,,,and although your answer also is legit,,,tell him what kind of book.
So get a book,,lol,,,naw man,,,register with BMI or Ascap or both. Cleverwon has his shit together,,,where ya at P?
1. count the costs and determine if this is going to be a career or more of a hobby for you. A career takes time and money. Figure out how accurate you are with keeping good business records and staying on top of things. Some people are creative minded and just love making music and would like to make a little money off of it and some are business minded which at times can take away from the creative process. Figure out which one you are. My partner for instance is not business oriented. He doesnt like doing the paper work but hes a great people person so it works out. It comes natural for him to talk to people and make connects. I am more detail oriented so it works out. It takes time to make contacts, reach potential buyers, market, advertise and have a creative enough angle to make you stand out from everyone else.
with that being said......
just get a DBA license at your local city hall or town clerk to register your company name. You can set your business up as a sole propriership for now which costs nothing. You can get a tax id for your business but, its not super necessary. For tax purposes if it is a sole propriership you just attach a schedule c to your normal tax form. You may want to trademark your name you can look into that. Register yourself under your personal name as a producer with bmi or ascap and your company as a publisher particularly if you will be releasing your own material. Keep good records and all reciepts. Set yourself up with a payment processor too. You can bill anyone for any service and have them pay by credit/debit card. We meet people all the time and bill them through the internet for beats. Its more convient and you can have a record of all your sales.....
get a good accounting program and set up a separate business bank account...
keep everything separate.......
get a good accountant.......
get a good lawyer.....
Last i guess you get yourself some cards/flyers and other promo items and hit the pavement......
just my 2 cents im sure i left some things out but again thats what books, business consultants and lawyers are for
with that being said......
just get a DBA license at your local city hall or town clerk to register your company name. You can set your business up as a sole propriership for now which costs nothing. You can get a tax id for your business but, its not super necessary. For tax purposes if it is a sole propriership you just attach a schedule c to your normal tax form. You may want to trademark your name you can look into that. Register yourself under your personal name as a producer with bmi or ascap and your company as a publisher particularly if you will be releasing your own material. Keep good records and all reciepts. Set yourself up with a payment processor too. You can bill anyone for any service and have them pay by credit/debit card. We meet people all the time and bill them through the internet for beats. Its more convient and you can have a record of all your sales.....
get a good accounting program and set up a separate business bank account...
keep everything separate.......
get a good accountant.......
get a good lawyer.....
Last i guess you get yourself some cards/flyers and other promo items and hit the pavement......
just my 2 cents im sure i left some things out but again thats what books, business consultants and lawyers are for
O
open mind
Guest
the first step is.is there a market a need for your company.