Beatnik Turtle, an extremely clever independent band, decided to
share what they experienced while endeavoring to increase their visibility and
cash flow without "benefit" of a record label relationship, as well as their
reasons for maintaining their independence.
They made that document freely available
here and if you are a musician, I strongly encourage you to read it cover
to cover.
Subsequent versions were picked up by a publisher and their value-add is not
freely available but the contract stipulated the original would remain free.
Not surprisingly, a Web-based community formed around this concept of indies
sharing ideas for increasing their viability which you might want to visit
here to see what's going on and possibly get involved.