Develop a budget. Studio time and vinyl pressing cost money, and the expenses will increase if it's necessary to hire backing musicians or a producer. Some bands raise funds by performing gigs and selling homemade cassettes of their music, while others solicit the financial backing of sponsors who take an interest in their work. Ask friends and family to help by contributing their time, skills or a little money to the project.
Decide on the songs to include on the 45. Select original works or seek legal clearance to record another artist's material, and practice repeatedly to get the performance down pat. Considering what songs will pair well together on a 45, capture the band's unique sound, and have the widest commercial appeal.
Consider designing an 45 album sleeve. Many companies provide free plain white sleeves when pressing 45s, and will charge extra for custom ones. An eye-catching sleeve can help sales, however. Consider what image best sums up the band and the music--perhaps a photograph of the musicians, or maybe something more symbolic and esoteric. Consider hand-decorating plain white sleeves to give every buyer something one-of-a-kind. Experiment with images, colors and typefaces to make the sleeve exciting. Because 45s contain only two songs, there will be more space to work with than with a full-length album, which might have to feature a lengthy track listing. If no one in the band has artistic talent, seek the help of a friend, or find a graphic design student who might work without pay to develop his portfolio.
Book a studio and record the song. Solicit any advice studio employees may have for novice musicians, and enter the studio with a plan so time is used efficiently to save money.
Have the record pressed. The studio might recommend a vinyl-pressing business, or musicians might have to take the master copies of their work to a company on their own. Prices vary from outfit to outfit. For example, as of March 2010, Rainbo Records charged $829 for 500 45s with plain white sleeves, and Recordpressing.com has a package costing $1,299, which includes "printed center labels, six test pressings, full color fold-over style jackets and high-quality poly-bags," so evaluate offerings and expenses.
Distribute copies of the 45 to radio stations, newspaper and magazine music departments and club owners. Give away or sell the 45s to fans, and ask local music shops to offer the 45 for sale.