(Note: I haven't finished my research/ideas yet, but I wanted to know what everyone thought about this so I'm going to post this even though I'm not done with some of the details):
Lately I’ve been frantically searching for different business opportunities. I’ve looked at the spectrum of entrepreneurship from different views and I have probably put too much pressure on myself to find my “blockbuster†business. I’m not looking to come up with the next Youtube or Google, but I’ve decided if I’m going to risk a large portion of my real estate savings and my time I want to be passionate about it. A dropshipping/affiliate based business isn’t making sense to me.
If I had one shot at making a business I would get involved somehow in the music industry, specifically the rock and roll industry. Richard Branson’s first venture was selling mail order records which led to a record store which eventually led to a recording label. Today music has changed drastically. Programs like Limewire and iTunes have made it impossible to make a profit from selling CD’s. There’s really no point in purchasing a CD because the masses are either downloading the music illegally (for free) or just buying their favorite songs individually since it’s more economical.
Music has become generic and commercial. It seems like right around the mid-90s when boy bands made their entrance, actual music made its exit. MTV has this hold on American teens that basically demonstrates what cool music is. There are many people who think the Jonas Brothers are what rock and roll is – and that’s fine. But it’s the other population that I’m interested in. It’s the listeners that aren’t being tended to.
This is where the entrepreneur in me noticed a humongous, untouched and untapped market. I was at my friend's band practice and it hit me that there is a large amount of rock and roll listeners that have created a huge market. This market contains listeners and fans who are interested in rock music that isn’t commercialized and often from past generations. It seems that no one touches this audience because of the current Miley Cyrus/Jonas Brothers/MTV fad which is fine. It is obvious that the past bands before us have a solid, consistent fan following compared to other fads like the Backstreet Boys and the Spice Girls.
This market doesn’t even have an age barrier. I’m part of it (17), my guitar teacher is part of it (28), and my Dad is part of it (45). It’s basically an endless stream of rock and roll listeners that rose about from The Beatles/Zeppelin era (‘60s) but haven’t been touched since Nirvana died or when the Red Hot Chili Peppers sold out (mid-90s).
Prior to brain storming about the music industry and this untapped market I was looking at business from a different view. I was looking at things from the view of what business vehicle was going to take me to a niche/target market. I was juggling the ideas about starting a site that featured lead generation, monthly membership fees, e-commerce or advertising sales – but I didn’t know what type of industry or customer I was going to target.
Now I’m looking from the perspective that I’ve found my interest (music) and I’ve found my target market (the abused rock and roll audience). Now I need a business vehicle that will benefit them while profiting for myself. Do you think this is a good start? Should I focus on an online retail business model or perhaps a different business model (lead generation, membership sites, etc.)? I'm a little confused because I haven't looked at start-ups from this angle before.
Lately I’ve been frantically searching for different business opportunities. I’ve looked at the spectrum of entrepreneurship from different views and I have probably put too much pressure on myself to find my “blockbuster†business. I’m not looking to come up with the next Youtube or Google, but I’ve decided if I’m going to risk a large portion of my real estate savings and my time I want to be passionate about it. A dropshipping/affiliate based business isn’t making sense to me.
If I had one shot at making a business I would get involved somehow in the music industry, specifically the rock and roll industry. Richard Branson’s first venture was selling mail order records which led to a record store which eventually led to a recording label. Today music has changed drastically. Programs like Limewire and iTunes have made it impossible to make a profit from selling CD’s. There’s really no point in purchasing a CD because the masses are either downloading the music illegally (for free) or just buying their favorite songs individually since it’s more economical.
Music has become generic and commercial. It seems like right around the mid-90s when boy bands made their entrance, actual music made its exit. MTV has this hold on American teens that basically demonstrates what cool music is. There are many people who think the Jonas Brothers are what rock and roll is – and that’s fine. But it’s the other population that I’m interested in. It’s the listeners that aren’t being tended to.
This is where the entrepreneur in me noticed a humongous, untouched and untapped market. I was at my friend's band practice and it hit me that there is a large amount of rock and roll listeners that have created a huge market. This market contains listeners and fans who are interested in rock music that isn’t commercialized and often from past generations. It seems that no one touches this audience because of the current Miley Cyrus/Jonas Brothers/MTV fad which is fine. It is obvious that the past bands before us have a solid, consistent fan following compared to other fads like the Backstreet Boys and the Spice Girls.
This market doesn’t even have an age barrier. I’m part of it (17), my guitar teacher is part of it (28), and my Dad is part of it (45). It’s basically an endless stream of rock and roll listeners that rose about from The Beatles/Zeppelin era (‘60s) but haven’t been touched since Nirvana died or when the Red Hot Chili Peppers sold out (mid-90s).
Prior to brain storming about the music industry and this untapped market I was looking at business from a different view. I was looking at things from the view of what business vehicle was going to take me to a niche/target market. I was juggling the ideas about starting a site that featured lead generation, monthly membership fees, e-commerce or advertising sales – but I didn’t know what type of industry or customer I was going to target.
Now I’m looking from the perspective that I’ve found my interest (music) and I’ve found my target market (the abused rock and roll audience). Now I need a business vehicle that will benefit them while profiting for myself. Do you think this is a good start? Should I focus on an online retail business model or perhaps a different business model (lead generation, membership sites, etc.)? I'm a little confused because I haven't looked at start-ups from this angle before.
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