7 Essential Steps to Establish a Budget for Your Recording Project in 15 Days or Less
In this course you will learn key steps to: identify your financial needs, obtain funding, and manage the budget of your recording project.
Are you an artist embarking on the enormous task of completing a recording project?
If so, one of the first things you need to do is establish a budget for your recording project. You may ask – why is setting a budget so important? You may even say that you know how much money you have to spend so a budget is not necessary. Well I am here to tell you that a budget is very important and it doesn’t matter if you have a million dollars in the bank. You need to set a budget for every project you work on. Always remember that this is a business.
Here are some benefits to developing a recording project budget:
- Gives you control over your money – A budget is a way of being intentional about the way you will fund your recording project.
- Keeps you focused on your goals – You avoid spending unnecessarily on items and services that don’t add substantial value to your recording project.
- Makes you decide how money will be spent – When you set a budget you will make better financial choices for your recording project.
- Provides early detection of issues – By managing and monitoring your expenses regularly, you will be able to proactively address risks that will impact your recording project.
In this course you will learn the 7 essential steps to establishing your recording project budget. These steps are very important because having a budget will give you peace of mind to focus on what you do best, create. You will be free to create because you have identified all your recording project needs beforehand and you have put controls in place so you don't end up overspending on the recording when you have other things you may need to fund.
The 7 Essential Steps Are:
- Identify the end goal
- What type of recording are you completing – Demo, EP, LP
- Determine your available funding
- How much money do you have available initially?
- Identify resources needed
- Who do you need to complete the recording project?
- What do you need to complete the recording project?
- Obtain cost estimates and terms
- Identify the costs for all resources needed for the recording project.
- Identify the terms for all resources needed for the recording project.
- Identify your variance
- How much you have on hand versus how much is needed to complete the recording project.
- Obtain additional funding
- Beg and borrow
- Barter (scratch my back, I’ll scratch yours)
- Finalize and manage you recording project budget
- Baseline budget
- Track spending
This course will provide clear to understand budget terminology and tip/tricks to establish and manage your recording project budget. Once you complete this course, you will be able to establish your recording project within 15 days without an accountant. You will be able to do it all on your own.
Remember, a budget is very important. You know the saying – if you fail to plan, then you plan to fail. This is true financially – if you fail to plan your budget for a recording project, you will spend money unnecessarily. In this day in time, we all need to be more fiscally responsible. Note: It doesn’t matter if you have millions in the bank.
So let’s get started. I am excited to assist you with setting up your recording project budget. Let’s jump right in!!!
Natashia Brewer is a self starting, goal oriented, organized, detail oriented, driven entrepreneur who has 18+ years experience in songwriting and music production. She also has over 15+ years experience in project management which includes, but not limited to: budget development and management (multi-million dollar budgets); scope development, monitoring, control; risk and issue mitigation; resource management; and negotiation.
Natashia's ultimate goal/purpose is to help people grow and reach their goals in life and music. Therefore, she established Natashia Brewer Consulting in order to accomplish this goal. In 2017, she became a published author of various books like: the Daily Devotional to Renew Your Mind, Love Song, Biblical Proportions (even co-authored - Pink Monsters with my Daughter); creator of the Renew Your Mind Challenge Community; the visionary/producer of the annual Renew Your Mind Retreat; songwriter/executive producer of the Infinite Love project; creator of various programs.
Natashia creates products and provide services that help her clients and community to shift their thinking, plan/execute/bring their goals to fruition, ultimately reshaping their lives.
Message from Natashia
In order to accomplish your dreams, you must write down your goals and create an action plan to accomplish said goals. But it starts with changing your mind. If you change your mind, you will change your life. Peace and blessings!!!
StartIdentify Your End Goal (3:13)
StartDetermine Your Available Funding (2:21)
StartIdentify Resources Needed (1:48)
StartObtain Cost Estimates and Terms (5:59)
StartIdentify Variance (3:39)
StartObtain Additional Funding (7:48)
StartFinalize and Manager Your Budget (5:40)