16 Oct What All Music Startups Should Know Before Setting Up Shop
As part of SF MusicTech week, NARM and DigitalMusic.org held their Music Startup Academy from the Rdio offices in downtown San Francisco last week. The room was filled with entrepreneurs and developers looking to educate themselves on what it really takes to develop a digital music product. For many (including myself), it was a crash course on the inner workings of a music startup and all that must be thought out and developed before bringing a product to market. Of all the useful insights gained at the event,these eight things must be kept in mind before developing a digital music product.
1. What Problem Are You Solving?
Is it a real problem within the music space?
Don’t just go after what you think people are dying for, or what your friends tell you would be a great idea. All too often, I am presented with products and ideas that either don’t solve actual problems, or worse yet, solve for problems that don’t even exist. And while I’d admire the ambition, whenever “game changer” enters the conversation, I immediately become skeptical.
Identify your problem clearly and ensure you’ve demonstrated it exists through exhausted market research. Examine where other products or features fail and position yours to fill that void.
Do also note the singular use of the word “problem” – it’s important to focus on solving one identifiable problem and do so with precision. Don’t attempt to be all things to all people; otherwise you’ll end up be nothing to nobody.