global global student student entrepreneu entrepreneu r r awards awards
Jun 25, 2015
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the dream
• connect composers, artists, and musicians
• support development of local and regional Christian music
• reach an international audience
humble beginnings
•originally a sheet music publishing company
•capital: $216 (owner invested)
•1st year operating expenses total less than $1,000
redefining a business model
•larger local market in Christian music CDs
•e-commerce site capable of selling virtually anything
•same desire to help promote and discover new music
...or, “so we can sell anything?”
expansion and growth
• aligning with an Austin recording studio
• teaming up with local non-profits and charities
• focus on providing artists with a “menu” of services
crunching the numbers
•first year sales: $124
•second year sales: $587
•2008 ROI of 1,900%
•150% growth until 2010
•50-75% thereafter
Projected Sales
spreading the word
•word-of-mouth & referral marketing only
•less than $150 spent to-date on marketing (mostly indirect)
•2009: PR attention, mail-outs, eBay store, social networking
in the community
•Christ Unites
• AboveGrounds Austin
• Praise in the Park
growing pains•growth while focusing on graduation
•scaleable but at a cost
•plans for office space by early 2010
•eventual split of HCM: web design/printing & music publishing are main sides
what the future may hold...
•RIAA responding to drastic changes in music industry
•HCM to help redefine industry
•focused on growth in multiple markets (music, small business, etc.)