Originally Posted by drummingman
Can you all tell me what you think is the best way to get funded by a record label to where it is advantageous for both the band and the label? I'm would like to find out how my band can do well financially to where we make a profit from our endeavors?
I'll give 2 pieces of advise.
First, stop concerning yourself with making money. You mentioned before that you'd like to use your music to share your love of your faith with people, focus on this as it will provide you with much more happiness, satisfaction and enlightenment that earning a paycheck ever will. It's nice to set the bar high, but starting out, you may want to consider "baby stepping" your goals so that you can achieve them and feel satisfied that you reached that goal. Don't loose sight of that bar set high, and keep in mind that you are ultimately on a path to greater things, but start small. Sell 100 copies of your first demo / ep / album. Play a show in another town where no one knows you and melt their faces. Get one of your songs on local radio. You know these things will help take you in the direction you want to go, but they are goals that are easier met than "I want to make money", and will help strengthen and grow your band as you progress, rather than slap you in the face every time you only make $40 at a gig.
Secondly, as for a more direct answer to your question, I really don't know. Presenting a label with a radio quality album is a good start. Eliminate the need for an advance for recording. Have decent, reliable gear that will not need to be upgraded if you hit the road. Research existing contracts, know what to look out for. A couple books were mentioned earlier, get a couple to learn from others experiences (and mistakes).
Labels vary greatly - some of the bigger guys are machines that put out product, some smaller ones tend to foster creativity a little more - explore your boundaries as a band and how far you are willing to go to fit a mold and solicit labels you feel will fit with what you hope to accomplish.