Hi there,
greetings from Hannover, it's my first post in this great forum - I shall try to do my best...
First of all you should think about the following aspects:
1) Why do you want to be signed? - Is it for advertisment, money for your next record-production, distribution...? Do you want contact to other kinds of companies like booking-agencies, publishers, merchandisers or managements?
Knowing what you expect from a deal is essential! Not every contract is good - and some so called labels are just a bunch of a...
uke:
2) What is your concept? - What are your strengths and weaknesses? Music, lyrics, photos, liveshows, artwork, logos, etc. The more you get your unique band-identity into a straight kind of "product" - the better for a record-company. This does not mean, that you have to enact - you should just be abled to articulate an exact idea of what you are (as a band) - and who you'll attract (as a fan).
3) What are you willing to spend for your musical career? Your money, time, health, family, dog...? Don't take it to serious - but an interestet company may ask you this question - and you'd better know an answer!
4) It's not just you, wanting something from a label - it's allways the other way round, too. Make them know that you will be a PARTNER who is seriously working on a career.
5) Play every single live-show you get! Everywhere!!! Get in contact with every other band and fan you learn to know! Talk to people! Give them something to listen to!
We could spend miles of postings on each of these points. But I hope it helps for a start up.
Cheers, up the irons,
Henning