I never really heard the term company budget. Project budget comes to mind mostly. Like when a project has a budget and you have to fit everything into that. I'm not a Bizness major but I think your talking company your looking to see money the company makes then money the company spends. You also have to take into account your salary and others salary and what monies got back to the business.
I suggest you do project bugeting per track. Of course you want an overall plan for the LP but you a more detailed and easier to manage would be based off project.
If your doing this yourself you it will make things easier on you if you have a group of folks working with you then you need to start seperating tasks based of that persons job for that project.
If you are the executive producer it would be in your best interest to handle all admin duties for each seperate project and overall project but not at the same time.
I Exec
A. Individual project duties
1.Budget: Set your budget amount for the project. You set an amount for Production and studio time. You know how much money you working with so you should know how much money you can spend on this one track.
2. Production cost/contracts: Making sure that if your outsourcing this make sure fits the budget and of course make sure the track is good enough to go into the studio time process. The artist must know the budget tell it them time and time again and make sure they keep you in the loop or else your not paying for it. Contracts should go to you for approval. If there arent any contract or cost get a contract done and signed.
3. Studio time: Make sure it fits the buget.
It your outsouring: If it's by the hour buy slotted time. Make sure the producer and artist can be there. Make sure they know the slotted time and and make sure you stay in contact with the engineer to know if they show or not. Also ask the producer to let you know when they are done. You handle all the recording contracts (production contracts if with this studio should be handled prior to recording in #2) You go when its time to get the tracked mixed. Buy slotted time and make sure it fits the budget you set. This is what the studio is going to give you out the door and then your done with them.
If in house: More than likely your engineer and producer so you have to make sure the artists shows and that he has his stuff together. If you use the studio for other business this time should count as a loss and make note of that. Make sure you slot a time with the artists. They have to get use to this and this is a good time to make it happen. (I have a problem doing this myself but sometimes I manage to get it done without getting crazy.
4. File all paperwork accordingly.
This is most of the stuff I can think of right now with a single project.
B. Overall LP project:
1. Set a budget for getting the product from mixdown to distrobution.
Included in this buget should be Mastering, Copyrights, Duplication, Marketing, Release party.
2. Mastering:Get the product to final master. Whether it's in house or outsourced.
3. Copyrights: Go back into your file and use that info for your copyright forms. It's alot easier than calling to get that info. You could get this done in pretty quickly depending on who all worked on the LP.
4. Duplication: Just go with whatever you budgeted. Stick to your budget dont go over no matter what. Dont go high on your first run. Go with about 25 percent of the max you plan on duplicating
5. Marketing: Just stick to buget once again on this. When setting this budget up you should not go the whole bang. Go with only a couple marketing ideas for you first run. Create a marketing budget for each run of CD's you get. If your gonna tour or do some sorta function it should be within this bugdet so keep that in mind when you make your marketing budget.
Release Party: This just fun. Hire a DJ do it at the crib at a club whatever. The artist will appreciate this and be happy you care just as much about the LP as they do. Let loose now cause all your work is done. Give congrats make a speech the whole nine. Artist think of release parties as marketing. You see it as time for a break
I just wrote individual projects for the rest because my brain hurts right now
II Producer:
If your the producer you have to work with the executive producer but your more hands on in the creative process. Your job should be to get the track into the studio and tracked for recording properly. Sounds easy but not a easy tasks. You also must remeber the time alotted and what the exec told you the budget was. You have to be hands on like this even if the artist just picked your track out of a line up. It has to be done though or else you will look really bad and if your on a team you wont be the one getting the most work on the overall LP. Your tracks may not even make the cut of the LP. What is done when tracked will tell the exec if alot about you and what it's like getting work from you. If you went over his budget slept after you tracked the beat and on top of that it sounds like garbage you have not done your job.
III Artist After all of that the artist has the easiest job. Folks wonder why artist get the short end on money but all the fame. They do alot of work in the creative process and have to stay in constant contact with the exec and producer but they just have to maker sure they show up on time and stay within the time slotted. If it needs more time talk the exec about getting more time to finish it. Give your best effort in the studio and listen to what the engineer and producer tells you in the process.
Now this is all about the LP. Owning a company is a whole nother baby. The owner doesnt even have to envolved in the music biz. They just have make enough profit and sign the checks
