How to start a netlabel?

The famous Italian blogger Eldino had some time ago a very interesting blog called "Come aprire una netlabel" (How to start a netlabel), but unfortunately it was in Italian. Now, another blogger, Barefoot Melt (Envisioning Toad), has made an attempt to translate the manual in English (with a little help from Google Translate) and made some thoughts about it. Feel free to submit comments on this manual.
chapter 1: Getting Ready To Drown
chapter 2: Jumping Off A Cliff
chapter 3: Putting My Head Into The Oven