What sort of band will you be? A cover band or an original group? Cover bands create a repertoire of hits and play songs written by others. A cover band can be all encompassing, cover many musical styles or it can focus on a genre or an era or an artist. Likely to be steadily employeed, cover bands are hired for weddings, private parties and corporate events.
Even if you have a mind to be an original ensemble, incorporating cover tunes in your show may help secure gigs. Sometimes bands will perform 50% cover tunes and 50% originals. Performing at least SOME original tunes is a smart beginning band move.