Some things to think before the recording session
Please take the time to read these notes, they will give you some idea of how to save money at a recording session (OK well on how to spend wisely and not end up wasting a fortune)
Why Demo's
Some people reckon the more fairy dust (layered strings/guitars and too much reverb, mainly) you shove on a demo, the better chance you have, this isn't necessarily the case. It's almost certainly best to aim for a fair representation of a band's live capabilities, recorded in time, and with no obvious bum notes.
This will ensure that even if you do land a massive deal, the recordings you're doing now should be good enough to appear as an extra track on a single, or make up part of an album of bits and pieces. There's never been a better time to put out your own release, if you're not prepared to invest, you can't expect to be rewarded.
Practice, Practice, Practice
You have to be very rich and directionless go into the studio and make it up as you go along. Rehearse the song(s) regularly, this is when the tempo and key is set for a song(s), when it's decided which instruments will get recorded at the beginning of the session or whether the band will play "live" in the studio to capture that extra spark. Learn your tracks thourghourly, the less time you spend actually playing (that is repeating take after take due to mistakes) at a recording session, the more time you'll have for the mixing / production.
Preparation
VOCALS, work out any harmonies beforehand, don't waste your money working them out at a recording session.
GUITAR/Bass, If you are fitting new strings, don't do so on the day, fit them a few days before so they have time to settle and so be more likely to stay in tune throughout a track.Check for things like fret buzz etc.
DRUMS, a simple tip when going into a studio is that new heads sound better than old ones, also tune your drums if you don't already. Make sure there are no loose or rattling fittings to cause unwanted sounds while playing, it's amazing how many small noises get picked up in a studio.
The Final Mix
When you've finished recording its time for mixing, this is best done with as few people in the room with the engineer as is diplomatic. If anyone, or,more likely, everyone has a comment, get them to write it down. You've heard the saying 'Too many cooks spoil the broth'. In the recording world that translates to 'Too many musicians want to turn their bit up louder than everybody else'.
The only thing which needs to be louder than you think is the vocals. Turn them up until they're much too loud, then turn them up a bit more and they'll be almost at the right level.
Anyway that's the lecture over, most of it may sound obvious, but it's worth mentioning.
Good luck