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Entrepreneur

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by

Jason Schumaker

on 29 April 2010

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Transcript of Entrepreneur

Music Entrepreneur An individual or group that starts up
and operates their own music business,
I've decided to focus on the retail side Record Store

Music Products Retailer Publications Interviews Career Project By Jason Schumaker Kathy Keeffer
The Phoenix Organizations Entrepreneurship
Organization Qualifications Will I pursue this career path? Qualifications are quite varied depending
on the type of retail business that is chosen -College experience is a plus
-Retail experience
-Good administrative skills
-Understanding the customer
-Passion for what you sell
-If in the music products industry,
it helps to play instruments you sell
-Courage
Independent Music Retailers Association (IMRA) -Started the Phoenix in 1967
-Says the best part of her job is setting her own
hours, policies, and being surrounded by music
-Her business changed dramatically since digital
music became so popular
-Says the most important part to her business is listening
to her customers Michelle Allen
Bananas Music -Some advice is to not compete with big box
retailers, but make yourself a niche destination
-Digital sales have hurt her sales, but she has seen
vinyl sales start to take off
-She believes that small independent businesses are
the backbone of America

-Very steep requirements
-Business must gross $1m
-Dues are $1,400 annually
-Even if you don't meet
requirements, there is an
Accelerator Program
-Beneficial for new entrepreneurs looking
to start new record store
-Helps stores market themselves, and teach
them how to gain better relationships with
record companies
-$65 to join and annually
-Also put out yearly publication, $75 Pros Cons Can be very stressful, neverending,
and frusterating at times since everything
is on your shoulder. You may work long
hours trying to get the business started Being your own boss allows for great flexibility, freedom.
You can set your own hours, and dictate how you want the
business to be run

Full transcript