Be My Record Label » Blog Archive » Accounting Update and Deadline Reminder!

Accounting Update and Deadline Reminder!

by Christine
on September 2, 2008
in Budget + Recording + Updates

Hi Record Executives of the New Millenium –

Here’s a total of the Pre-Orders sold so far on my new CD since the July 21 launch of Be My Record Label. (Exactly six weeks ago.)

But first –

The Big Ticket Items

People want to know about the two big ticket items on the Pre-Order packages. (”The Executive Producer” and the “Private Concert” options.)

So far, no one has purchased the big ticket items.

With the exception of two purchases of the #4 packages — all of our sales so far have been purchases of the 1, 2 or 3 packages. Musicians, artists, and marketers are always curious about those big ticket items - and they write to ask me if anyone has bought them. So, with that out of the way…

Current Pre-Order Total:

$9625.00

Now — $10,000 is my first big milestone for this CD. (That’s a good budget for many indie songwriters.) The last time I posted the numbers just short of a big goal - Beth jumped in first thing in the morning and pushed the total up to $6000. (Then Anna and a few others jumped in as well! Thank you all ever so much!)

So for the Beth’s and Anna’s of the world — here’s a quick deadline reminder:

The big drawing for the chance to have a song written for you, about you, around you — or for, about, around someone you love — is going to happen NEXT WEEK. The drawing happens on September 8. I’m going to put each person’s name on a piece of paper and put those names into a hat. (If you entered twice - then your name will be in the hat twice.) A few more people getting into the drawing will push this number up to the $10,000 milestone.

Just know this…

If I post your song after writing it — you might have all kinds of people writing in about how lame your drum loops and Wurlitzer are!

Again, thanks for your continued participation in this strange little experiment!

If you like this post, you can PRE-ORDER the CD now!

Thom Shepard wrote on 02 Sep 2008 at 12:48 am :

currious if upgrade options will be added before deadline for “Christine will write a song for you” contest … or at all?
Reply to Thom Shepard
tre wrote on 02 Sep 2008 at 3:10 am :

hey….congrats!!! on the almost reaching $10k as your goal..but did you mention that early on?
and is that really gonna cover all your estimated costs? do you base the production of your cd solely on these contributions–so like if you don’t reach more than $10k, would you only do what you can…and that may mean leaving out a song?

i’m not someone who lives by maps and i’ve always fought having a budget….I sooo am a live in the moment kinda gal. but i’ve never made something like this….so do you have personal funds you’re diving into so that you can create a cd that includes all that you want it to inspite of what producers (us) give? and if you aren’t getting from us what you hope to, can you flat out say “hey, in order to add this last song or song(s) i’m gonna need another $2k?”

I don’t want my giving (or anyone’s) to be based on any limited scope. but how do we know if you’re holding back and not adding something you wanted to b/c you’re not getting enough contributions?

surely far better would be ‘hey producers! we went over in the contributions and thanks to you all there’s enough left over to pour into the ‘acorn fund’…the seedling for the next cd”
i’m bein’ kinda cheesy here….but i’m just trying to get what you ‘know’ this one’s gonna cost…

okay. still humming the latest track. still wanna hear it to acoustic guitar. like piano. but your voice sooo invites that acoustic guitar strummin.

anyone else have thoughts on this short term budget/longer term budgeting so christine has all she needs to produce this cd ?

keep having fun……

hugs, tre
Reply to tre
Thom Shepard wrote on 02 Sep 2008 at 6:51 am :

Christine,

If you wanted to hire the musicians you really really want, and do all the things on this Album you really really want to ( I know you are a simple and frugal person in all the important ways so I can ask this bluntly ) what would your budget be to just pay the note on the whole album.

So what it the minimum you need, including promotion, burning the CDs, etc. to do what you think would be a professional album for this point in your career.

And what would be the number where you could just have your wish list and do everything you really really want bad on this Album.

I know this is bad because you might want 20% or 50% more than that to do some really really cool stuff.

But I want those numbers so we have a target and a goal.

We can fund Christine’s dream album for $xx,xxx,

We can fund Christine’s awsome album for $xx,xxx

I really really love “I’ll be your angel” and listen to it every day.
Reply to Thom Shepard
Christine wrote on 02 Sep 2008 at 7:48 am :

Hi Thom - as for the upgrade — I don’t know exactly how to do that. I can generate an invoice - but let me know exactly what you bought and what you want to upgrade to! (email me)

As for the total budget — I’ll be spending $30,000 on the CD itself — and then publicity, manufacturing, etc is extra. I won’t be spending a ton on manufacturing because my goal is not about touring the country trying to sell tens of thousands of CD’s anymore.

Radio promotion alone can cost about $10,000 - and the return on investment is SO not worth it. Many indie musicians will tell you that.

Tre - $10,000 is a milestone - not the final goal. and yes, I’ll be spending much more than that on the CD. And yes, I’ll be spending my budget no matter what happens on this site. This site is an experiment. So - there can be many more pre-orders to help pave the way!

thanks!
Reply to Christine
Cher wrote on 02 Sep 2008 at 9:23 am :

thanks Christine for the reality feedback on costs etc. I am with Thom about the upgrade-which means from an accounting point of view, x amount is still due from the customer for x product. Now, if you have not received any money- it’s a matter of changing the order from the customer wants this product, to now the customer wants this other product. x$ is expected to be paid. As tempting as a personal song is-that is beyond my budget-paying for car repairs just took any “extra” funds right out of my picture. I do think it is fantastic that those big ticket items are a possibility-and I will applaud the person that steps up and takes advantage of such an opportunity.
Looking forward to the next song to give feedback on.
Reply to Cher
Thom Shepard wrote on 02 Sep 2008 at 11:54 am :

Christine,

I should be simple.

On the order page you have a button:

If you have ordered a package but want to upgrade to a higher package click here.

Then you have a page of brand new products.

You can only upgrade from one level to then next which makes it very simple.

To go from he $10 CD to the $85 package costs $75 and is just an upgrade product you buy.

To keep it simple you just don’t worry about verifying the earlier purchase. They just have to be responsible and when it comes time to ship, if you can’t find the original $10 purchase you send them a note they owe $10.

We can make this step easier the next go round but for right now this is easy.

And I beg you to make a $20 and $40 price point product, dAlbum, a printed album cover to put on the table, or other cool stuff you think of.

These are the biggest impulse by price points and potentially could double or quadruple your sales for people new to your music.

And with an upgrade option it would make it only a short hop to $85 or $150.

This is the bread and butter of the retail industry, having great products in the high volume range.
Reply to Thom Shepard
Thom Shepard wrote on 02 Sep 2008 at 11:58 am :

awsome, so we are almost 1/3 the way to getting the album paid for.

Before mfg/marketing cost.

Love the idea of you being free of a label, or free of having all your savings locked into the album, and then can just promote it in the way you think will work the best.

This is just so interesting.
Reply to Thom Shepard
tre wrote on 02 Sep 2008 at 12:09 pm :

Christine, Thanks so much for the heads up on total costs…I had no idea….Suggestion for Thom…not sure you have the ability…maybe you can create one of the suggested products you’re encouraging Christine to offer? Or suggest someone who can? Christine, what looks cheesy but coudl get momentum in the short and long run is some kind of visual to show where we are and where we hope to grow: ie not a ticky tacky linear chart…but some kind of fun image –maybe a cd…like a pie chart….completely full means $30,000 received….

And this may sound a bit time consuming, most things worthy of doing are…but what if some % of your total costs to make the cd go to a charity? something w/ animals b/c you love them..like the shelter in the area that is STILL baking brownies…

I often see promo’s of % of sales going to charity…but what about % of costs to produce?

That could be another way to get contributions…nothing has to change re: what you’re selling as pre order products…just kick in a % to go to the animal rescue league of asheville or wherever you decide…..or put it to the producers to pick…ha…that will take a long time and i’m sure all would trust you.

just a thought…..it’s like in order to help you produce this cd, we know the full amount and we know that portions are going to this organization as well….(though i’m still all for YOU and the production of the cd being THE FOCUS).

Okay…..happy planning and thanks to all who are suggesting great ideas.

Tre
Reply to tre
Anna Garrett wrote on 04 Sep 2008 at 8:18 am :

I wanna WIIIINNN!!!
Reply to Anna Garrett
Elaine wrote on 04 Sep 2008 at 12:10 pm :

…No… I wanna WIN! (more than you!)
Reply to Elaine
Kay wrote on 04 Sep 2008 at 7:59 pm :

I think I will buy another chance too!
Let’s keep this going!!!
Reply to Kay
Marianne Barlow wrote on 06 Sep 2008 at 12:16 am :

I agree that there should be something between the $15 and $85 packages. $85 is too much for me but $45 might just about tempt me for either the e-book or the mix tape which are both included in the $85 package. All that upgrade stuff is too confusing, if you want to upgrade, just get the more expensive package and give the first CD to someone as a gift–you know they’ll want it, it’s Christine!!
Reply to Marianne Barlow
Thom Shepard wrote on 06 Sep 2008 at 7:59 am :

Marianne,

It is not for me, that is what i plan to do, but it is for her new and genearal customer, most would never see the upgrade page unless they hit the upgrade button and were already likely thinking that.

I think taking part of the $85 package and making it a $40-45 package would be perfect for the upgrade option.

So Christine, just take parts of the $85 package and make a $25 part, then a $45 part, that way the upgrade would just keep including more and would be super easy.

forget the digital kitchen table, just make that a separate $20 outside the upgrade packages, with a warning that it will get done when money is availabe, and when time allows after the main CD is finished. If money comes really well, it will be soon, if money is slow, it might take a good while as you focus on the main cd.
Reply to Thom Shepard
Thom Shepard wrote on 06 Sep 2008 at 8:02 am :

cool thing about the $20 kitchen table is that this is kind of making a donation since your production costs will be much lower than a regular cd, as it will be mostly a by-product of the main one.

I am ready to be one of the first buyers of the $20 kitchen table dAlbum
Reply to Thom Shepard