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Status removed from rock band by odd business-ready group (6)

Ross

I believe the answer is:

quorum

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'status removed from rock band' is the definition.
I can't judge whether this defines the answer.

'by odd business-ready group' is the wordplay.
'by' says to put letters next to each other.
'odd' becomes 'rum' (I've seen this before).
'business ready group' becomes 'quo' (I can't explain this - if you can you should give a lot more credence to this answer).
'rum' after 'quo' is 'QUORUM'.

Can you help me to learn more?

(Other definitions for quorum that I've seen before include "Minimum required number of members present for conducting business" , "Minimum number of members required for a meeting to be legitimate" , "Number required to hold valid committee meeting" , "Enough people for decision making" , "Enough for a meeting" .)

I've seen this clue in The Telegraph.
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