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    7 Replies Latest reply on Oct 12, 2008 4:58 PM by intechspecial

    A Business Guide

    jjenks Newbie

      The name is AJ, I own a record label that has been established as an LLC since 2006 and I'm looking for a mentor that can show me how to establishing business credit, filing business taxes, find people willing to invest in my business, and simply show me the ins and outs of running a business. I have put together a few plans for my business to profit and prosper and I need that guiding ear and know how to stir me in the right direction. Thank you.
        • Re: A Business Guide
          LUCKIEST Guide
          A Business Guide, Welcome A J

          I would be happy to mentor you and show you the in and outs of running a business.

          Who are you?? Where are you and how do I get in touch with you??

          LUCKIEST
          1 of 1 people found this helpful
            • Re: A Business Guide
              intechspecial Ranger
              Record Label?

              I would really like to hear more about this!

              Please tell us more about your organization.

               

              intechspecial
                • Re: A Business Guide
                  jjenks Newbie
                  No problem, the name of the label is called Scramble Ent we just moved to Atlanta GA from Hampton VA, been here about four months now. We really love all ranges of music but specialize in HipHop and R&B,the label consist of two producers and four artist that all write both R&B and HipHop. I've been trying to get this label off the ground business wise for sometime but just didnt know the entire break down of how to run the business in the correct way. But on the music side we are on point, there is nothing that we can't do. With three cd's done, all ranges of music all with no help from anybody I feel the only thing we are missing is the business structure and funding to make it in this industry. But on a lighter note I appreciate you even inquiring about my business. If you could tell me more about what you do i would greatly appreciate, hopefully we can work together. My e-mail is jjenks757@yahoo.com, I look foward to hearing from you.
              • Re: A Business Guide
                GrowthCurve Adventurer

                I think it's great that you're looking for a mentor. Most people don't know what they don't know.

                As far as establishing business credit, I'd forget it. The only way to establish legitimate business credit is to generate revenue, earn a profit, and pay your bills on time. All of this talk about building a PAYDEX and then running out and getting a $200,000 unsecured line...hogwash.

                 


                Filing business taxes...that's easy. You can learn about this yourself, or you can hire a bookkeeper. You don't need an accountant for this stuff, unless you want one to look over your federal returns. The day to day stuff, though...a bookkeeper (a GOOD one) will do just fine.

                 


                People willing to invest in your business...easier to do once you have shown that you know what you're doing, otherwise you're not asking people to invest in your business, you're asking them to invest in YOU. That can be done, and it happens every day, but you need to have something special that people will want to be a part of. As you know, everyone and his grandmother wants to start a record label. This is not an easy industry to succeed in.

                 


                There are a number of smaller record labels in the Atlanta area. I'd find a few that are, in your mind, successful, and write a genuine letter to the people at the top, letting them know of your plans and that you need a mentor. You might find someone willing to take you under his or her wing.

                 


                Make that letter good. You're only going to get one chance.

                 


                P.S. When I was 20 years younger, I did exactly this, sending in a note to one of the most wealthy men where I lived...a real estate developer. He was worth about $50 million, give or take. He called me after receiving my note, asked me to his office for coffee, and we had one of the most educational conversations of my life. It can be done.
                  • Re: A Business Guide
                    jjenks Newbie

                    That is some of the best advise I have had all year. So getting business credit is not something that happens over night I see, I guess I should of known that. But what I did want to know is more about your web site development and setting up a business plan and as for the letter I'm going to start on that today. I really appreciate the on time response and being that you are in the Atlanta area hopefully if you have some time we could sit down and talk more.