The group has a shared passion for the music scene, and noticed a gap in the Tasmania market. The initial idea was to be a conduit between the musicians, audiences and events in Tasmania and to act as a connection to expose Tasmanian musicians to the mainland audience. This project links to the University of Tasmania's research theme of creativity, culture and society.
What it does
rummm is a multi-media platform that connects emerging musicians who are not in traditionally popular genres to a wider audience. Our platform will help their careers by presenting their great music to the world. We can connect artists to audiences and events, showcasing the artists with podcasts, in-depth interviews, live sets, and an up-to-date gig guide.
How we built it
Based on the original components of the idea, we utilised the 9 factors of the BMC to assess the customer needs, marketability, financial sustainability, distribution channels, and future business expansion. We repeatedly remodelled our business to make it viable until we had a feasible business plan and strategy.
Challenges we ran into
The biggest challenge was arriving on Friday night with a passionate wish to produce a print magazine as the platform for communication channel. We worked through the business model canvas to a point where it was obvious the magazine could not be produced until rummm is highly profitable. However, the original ideas of connection and impact for emerging musicians still remains, but in a now profitable business model. The team has worked well, so team work has not been problematic. Although our ideas have diverged and refocused as the weekend has progressed, we've remained connected as a group and focused on producing a viable business product. Each time we talked to a mentor, we returned, discussed the input, and refined the business model, and this lead to a much stronger, and now viable, model.
Accomplishments that we're proud of
It remains a really cool project, the passion is still there, the journalism is still there, the original value proposition is still there. One of the creative ideas that we came up with is to collaboratively partner with associated artists and share resources to maximise our exposure to the market using very minimal initial capital. Our market research has taken significant time, initially we knew of a few possible similar projects, but have a much greater understanding of the market now, potential competitors, their strengths and weaknesses, and we can confidently say that ours is a differentiated product with a real market.
What we learned
The strength of team work, of having diverse points of view, listening to input of others, and adapting and refining our plans after their input.
What's next for rummm
Stage 1: The business plan is strong enough to start the business as a viable concern. In Stage 2, we will be expanding to the mainland. In addition, we will be organising music events, growing connections and networks in the industry, selling tickets through our platform, and live streaming well-known bands concert in addition to emerging artists. At this stage, we will review our business plan for a printed magazine on pre-subscribed orders.