Review and narrow your list of business ideas to the one you will use for your...

Review and narrow your list of business ideas to the one you will use for your pitch in Week 8. Utilizing the discussion on sales forecasting in chapter 10, prepare a 6-month from opening sales forecast for your business. Now extend that to 1 year, 5 years, and 10 years. What variables will affect your sales? To what degree? How can you attempt to offset or capitalize on these factors?

My business idea is:

-Online Record Label:

Different from traditional record labels, this one will be 100% online permitting artists to work all around the globe and providing them with customized online support via instant messages and video calls. This label will first help artists build a social media presence so that they can maximize their reach among targeted audiences, tap into new potential markets, and explore undiscovered opportunities. Second, all of the infrastructures contained within a traditional record label will be implemented by a management team in combination with special algorithms designed specifically for success in the music industry. Third, through partnerships with the largest existing record labels, this business will use all of their resources and distribution to access every consumer available.

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