It varies, but mostly it involves marketing. Press, branding, merchandise, etc. Alongside all the other odds and ends like helping you find support staff (visu

It varies, but mostly it involves marketing. Press, branding, merchandise, etc. Alongside all the other odds and ends like helping you find support staff (visual artists, booking agents, tour managers, etc), legal representation, and fronting money for the recording process. There's quite a bit that goes into it all, there's a reason why large record labels have so many employees.