🎶Artist Business Model Part 2

🎵⭐️ The Artist Business Model PART II

What’s up y’all 🔥 here’s Issue #9 of The Dice Roll 🎲 newsletter!

In the modern music business, understanding as an artist that you’re also a business is crucial to being successful. Last time I went over the 9 building blocks that make up a business model and today we continue with value - proposition design.

In case you forgot, here are those 9 building blocks:

👤 Customer Segments

🚀 Value Propositions

📺 Channels

👤 Customer Relationships

💰 Revenue Streams

🔑🔨 Key Resources

🔑🤳Key Activities

🔑🤝 Key Partnerships

💵 📈Cost Structure

And then you can fill out the Business Model canvas…

🔍 Let’s start by defining what a value proposition is…

According to the sequel to the Business Model Generation book, Value Proposition Design.

Value Proposition ⚖️  - describes the benefits customers can expect from your products and services.

1. Create Value 💰 - the set of value proposition benefits that you design to attract customers.

2. Observe Customers 👤 - the set of customer characteristics that you assume, observe, and verify in the market.

The Value Map 🗺 - describes the features of a specific value proposition in your business model in a more structured and detailed way. It breaks your value prop down into products and services, pain relievers, and gain creators.

Customer Profile 👤 - describes a specific customer segment in your business model in a more structured and detailed way. It breaks the customer down into its jobs, pains, and gains.

Fit 🧩 - is achieved when your value map meets and relieves the jobs, pains, and gains of the customer profile.

That’s it! Now go ahead and fill out the attached Value Proposition Canvas…

That’s all for this week but don’t forget about all the other things happening!

⭐️Here's a reminder of what you can find on my socials:

🚀 Industry Insights: Stay up-to-date with the latest trends, insider leaks, and developments from streaming strategies to new social platforms launching.

🎸 Tips for Independent Artists: Discover actionable tips and strategies to help you thrive in a competitive market.

📢 My Network: See exclusive information and panels hosted and curated by my network of music professionals and record label executives.

📺 Veteran Videos: Watch some of the most successful and motivated artists give us some practical advice and helpful reminders.

⭐️⭐️New Channel: New long-form content from me in the near future. This week I posted a teaser on my instagram so go watch! It’s called “DICE GAME”, pretty fitting right?

Stay up to date on the music business news, get tips and tricks, and connect with your favorite music business professional, DICE 🎲

QUOTE OF THE DAY 💎

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“Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop questioning.” - Albert E.

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That’s all folks! 🥕

Stay tuned for another letter in the next few days and thanks for reading! 🙏🏻🎲

For more tips and thoughts on the music business be sure to follow me on all socials at @chasethedice and feel free to reach out to connect!