Key Takeaways:
- Douglas "803Fresh" Furtick is building a business model that extends beyond music to include entrepreneurship, ownership, and sustainable business practices.
- He emphasizes the importance of thinking about the business side of the music industry, including PR, management, A&Rs, and engineers.
- 803Fresh is leveraging digital platforms like YouTube and Spotify to reach a global audience and diversify his revenue streams.
- He is committed to giving back to his community through philanthropy, teaching, and mentorship.
- 803Fresh believes that artists have a responsibility to invest in themselves and surround themselves with a strong team to achieve long-term success.
Introduction to 803Fresh’s Business Model
Douglas "803Fresh" Furtick recently sat down with Rick Wade of the U.S. Chamber of Commerce, and their conversation quickly moved beyond music to lessons in entrepreneurship, ownership, and building a sustainable business for long-term success. 803Fresh shared his approach to building a business model that extends beyond music, emphasizing the importance of thinking about the business side of the industry. He explained that creating music is just one part of the equation, and that a successful business requires a team of professionals, including PR, management, A&Rs, and engineers. By recognizing the intricate roles that each of these professionals plays, 803Fresh is able to build a robust and sustainable business model.
The Power of Digital Platforms
803Fresh is intentional about ownership and leveraging today’s digital world to reach a global audience. He highlighted the power of platforms like YouTube and Spotify, which allow him to connect with fans in corners of the world that he cannot physically reach. By utilizing these platforms, 803Fresh is able to diversify his revenue streams and build a loyal fan base. He also emphasized the importance of managing intellectual property in the digital age, recognizing that ownership and control are crucial to long-term success. By taking a proactive approach to digital platforms, 803Fresh is able to stay ahead of the curve and adapt to the ever-changing music industry.
Diversifying Revenue Streams
Growing up in Wagener, South Carolina, 803Fresh always had an entrepreneurial spirit, and he has expanded beyond music to merchandise, sponsorships, and even ventures outside entertainment, such as barbershops, nonprofits, and landscaping businesses. His vision for the future includes creating music engineering programs in his hometown to give young people access to industry opportunities. By diversifying his revenue streams, 803Fresh is able to reduce his reliance on a single source of income and build a more sustainable business model. He is also able to pursue his passion for philanthropy and giving back to his community, which is a key part of his business philosophy.
The Importance of Mentorship and Community
803Fresh believes that artists are more than entertainers, and that they have a responsibility to use their platform for community impact and mentorship. He shared a powerful message during a recent seminar at Benedict College, urging aspiring artists to learn about the business side of the industry and surround themselves with a strong team. He emphasized that nobody will invest in you if they don’t see that you have the drive to invest in yourself, and that building a strong foundation is crucial to long-term success. By prioritizing mentorship and community, 803Fresh is able to make a positive impact on the lives of young people and help them achieve their goals.
Philanthropy and Giving Back
803Fresh is committed to using his success as a platform for philanthropy and giving back to his community. He believes that artists have a responsibility to pay it forward and make a positive impact on the world. By investing in his community and supporting young people, 803Fresh is able to build a legacy that extends beyond his music. He is also able to create a positive feedback loop, where his success is used to support others, who in turn support him and his business. By prioritizing philanthropy and giving back, 803Fresh is able to build a sustainable business model that is rooted in a sense of purpose and social responsibility.
Conclusion
In conclusion, Douglas "803Fresh" Furtick is a prime example of an artist who is building a business model that extends beyond music to include entrepreneurship, ownership, and sustainable business practices. By leveraging digital platforms, diversifying his revenue streams, and prioritizing mentorship and community, 803Fresh is able to build a robust and sustainable business model that is rooted in a sense of purpose and social responsibility. His commitment to philanthropy and giving back to his community is a key part of his business philosophy, and he is able to make a positive impact on the lives of young people and help them achieve their goals. As the music industry continues to evolve, 803Fresh is well-positioned to succeed and make a lasting impact on the world.
