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If you're a musician or just a hardcore fan of music, you've certainly had fantasies about record labels. Whether it be signing to one and becoming rich and famous, or starting one'and becoming rich and famous. Well I'm here to tell you that independent record labels are definitely the way to go.

The major labels are in trouble. Just pick up any music business magazine to find that out. The owners of independent labels are the new life blood of the music industry. They are the people coming up with new and fresh ideas. The future of the industry relies on new takes on how to get music produced, released and most importantly heard.

While we are talking about making money with music, it would definitely be a crime not to mention Hip Hop. The genre has been dominating charts for years now. Hip Hop artists drive the best cars, wear the best clothes and definitely have the most fun. Need an example? Turn on MTV or BET. There's your proof!

Starting a record label is actually a lot easier than it sounds. And better yet, it's remarkably inexpensive to start off with. If you have the passion for it you can definitely be successful in this ever-changing industry!

I know several people that have started their own labels, not just in Hip Hop, but in many different genres. I've never been one to really believe in the whole dreams coming true thing, however, a couple of my friends have actually been able to quit their day jobs and just run their labels. And their businesses are growing all the time!

One of the first steps in starting your label is choosing a name. I bet you already have one. I mean, if you found this article, you've definitely already put some thought into this. After you've come up with your record label name, I would suggest a quick internet search to make sure it's not already taken. If you can't find anything on google, chances are you're in the clear.

Having fun yet? You're now the president of a record label! Of course there are more steps involved in getting your business off the ground. But it sure is cool to say you own a label, isn't it?

Are you an idea man or woman? I hope so, because now it's your time to shine. A business model would definitely come in handy now. Here's where you can brainstorm all the ideas you're going to use to make yourself and your artists rich and famous.

Next, I would suggest a post office box. You're going to need a place for all these future hip hop stars to send you their demos and CDs. Of course, I would also suggest going out to shows and concerts and scouting out unsigned artists.

Well, easy enough so far huh? Pretty cheap too. Of course, this is just the beginning and the sky is the limit. If this business sounds like it's for you, you should check out my author box for more information! As for me, I can't wait to hear the new hits you'll be putting out soon!