A lot of people dream of starting their own independent record label, but for most it is a fantasy that will never become a reality. However, there are a number of musicians and music fans out there that are creating their own alternative to getting a recording contract with a major record label. These folks put a lot of hard work and a bit of their soul into producing, promoting and distributing the music that means so much to them.

Here are a few how-to tips (in no particular order) based on what they've learned:

1. Check with your local government to see if you need any licenses. The people at the licensing department are used to dealing with folks who know very little, and they are a great source of information.

2. Learn as much as you can about the music industry. If you're going to be a player, then you need to know the rules of the game. Once you understand how the industry works, it's easier to take your place in it.

3. Find talent. If you're planning to release your own music, then you've already got this one licked. If not, then you're going to need to convince some band or musician that working with your label is in their best interest. (Following step number two above will help you sound a lot smarter during this conversation!)

4. Get yourself a web site, and make sure that people can order your products online. You might consider selling merchandise for your label or band in addition to music.

5. Make sure that you're creating a good product. While one of the benefits of starting your own indie label is that you can produce any artist you desire, if you want to make a profit, you should probably consider the actual talent of your talent!

6. If you can swing it, get yourself a barcode to mark your products. This will help official sales numbers for the label. If one of your albums starts selling really big, it could actually end up on the charts because it was being tracked.

7. Create a business plan. This is pretty much essential if you're looking for funding. If not, it's still a good idea because it forces you to sit down and think through all the how-to aspects of starting and running an independent label.

8. Keep accurate records of your sales and expenses. You will have to file taxes on your business, and this will be infinitely easier if you have kept track of your income and 'out go.' Setting up a checking account for all your business transactions can be really helpful for this purpose, and you'll get updated statements from the bank.

9. Get some decent contracts for use with your talent and other vendors. There are plenty available online, so do some research to find out what will be the most useful for you and your label.

10. Get business cards made. Be sure to include your name and that of the label, along with any contact information. Don't forget to include your web site address (for those online sales). In addition to having business cards made, make sure you have business cards with you at all times. Give them to prospective talent, possible business connections, and your family (they'll be really impressed). Having business cards helps make you more legitimate, and they are a great marketing tool.