So here we are day six. One “day” before the official launch. As I stated before, I’m considering these “7 days” as steps really, since I’m not doing these steps in sequential days. I am however, getting through all seven steps rather quickly (less than a month).
Day six was very sobering. I created a pro-forma, (aka financial model) and quickly realized that I needed at least 500 active paid subscribers to make this a viable business. And when I say active, I mean that they need to be purchasing tracks on a monthly basis.
Then I started to consider how many unique pieces of music I needed to have in inventory to support 500 active subscribers. Is it hundreds or dozens? Not sure this is a question that I can answer at this point. I do have about 200 song ideas that are usable, however I need to fully produce most of them before I can add them on the stock music site. Producing these tracks will likely take up to a year to complete, but that should be ok since I can add them to the site as they are completed and they will keep the site freshly stocked with music.
I’m still stalled a bit on the landing pages and think I’m going to need some help. Since each track (I use “track” and “song” interchangeably) will be available with an exclusive and non-exclusive license, I need to setup EDD with variable pricing.
This is the point where I start to glaze over and consider hiring someone to handle all the technology and WordPress work since I need to be in the studio creating music.