A recording studio is a specialized installation for sound recording, mixing and audio production of instrumental or vocal musical performances, spoken words and other sounds. It would no longer be necessary to discard an entire recording due to a hit. Not only that, but the band members could record their individual parts separately instead of doing it all together in the studio. The musicians could record several takes and edit them together to get the preferred version.
Over the past 120 years of recorded music history, the scope of a music producer's involvement has changed as technology advanced and stylistic trends came and went. When you think about how famous artists make songs, you imagine that everything happens in a large, professional studio with a sleek mixer, perhaps with a soundproof vocal booth and you're not mistaken. Spector, in particular, pioneered the use of the recording studio as his own instrument with his “Wall of Sound” production style; a dense and orchestral approach to pop music that influenced other visionaries such as Brian Wilson of the Beach Boys to further embellish his recordings with more instrumentation. Digital technology allows you to record high-quality audio directly on a laptop or desktop computer, and you can incorporate some virtual instruments and samples that sound very real via MIDI, as well as all for a fraction of what it costs to record a feature film in a high-quality recording studio.
Felder could anchor many of his sessions in this studio he created in Los Angeles, but for him, that's more about creating a space that has an atmosphere for artists to feel comfortable. But at the very least, you can create a presentable recording that can go through a decent demo, if not as an EP or an LP. Major albums such as Paul Simon's Graceland from 1986 were recorded on analog tape, but they were transferred and mixed on a new computer called a digital audio workstation (DAW). However, YouTube is a goldmine of recording tips and I suggest you look there every time you get stuck.
This limited specialization continued during the early years of the 20th century with the adoption by the music industry of the gramophone for recording and the wax master record as a medium. However, thanks to modern technology and the digital age, independent artists can now make high-quality recordings for much less money, and many can record and distribute full-length albums on a modest budget. These producers became sought after for their minimalist recording styles, with Albini in particular stating that he was just an engineer and simply pressed “Record”. But if you're a musician, it doesn't hurt to mix things up from time to time to see what kind of strange acoustics or unlikely inspiration can be found in unusual recording locations.
If you're looking for a little more momentum to take your recordings above, you can find a local producer who is at the same level as you, or maybe a little higher, and ask him to help you put the finishing touches on your project. Their technology makes them more precise than dynamic microphones, making them perfect for accurately recording acoustic instruments and vocals. With the advent of microphones and mixing devices becoming cheaper and more portable, it has never been easier to record where you want and when you want.