One8 Records 1 Page Business Plan
Overview
One8 Records has a clear business objective to develop, produce, promote and distribute music, apparel and event promotion products. These products have been developed over 5 months with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to grow revenue. Rapid revenue growth is considered the most critical and measurable business goal. At this stage of our development, we consider this to be more important than profitability growth, although both are important long term objectives.
The Customer
One8 Records has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as finding quality locally made hip hop music and culture. This is a critical issue for our selected target market of teenagers.
The Value Proposition
One8 Records is uniquely positioned to deliver value to teenagers. "One8 Records will Provide talented musicians and quality apparel." In order to deliver on this value proposition, we made locally made hip hop music and there isn't much of a hip hop scene here. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the music, apparel and event promotion market. We consider our key competitors to be: Belated Entertainment. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Belated Entertainment by a more jazzy groovy old school vibe.
Key Strategies
Over the next 6 months our focus will be to release an album which will boost recognition and increase apparel sales. This task will be undertaken in the context of our broader strategy to sign more artists. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: First album release Break even on hoodies Release new music and apparel
About this document
Music, apparel and event promotion Business Plan
This document was created by Matty of One8 Records using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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