Not only must you consider yourself as a musician, but you must also think with an entrepreneurial mindset and take consistent action to further your career. Most musicians do not know how to treat their music career in a professional, business-like manner. This is why so many of these people struggle to make a lot of money in the music business. To quickly test out your current understanding of what it takes to become successful in the music business, take this short survey on pursuing a career in music before reading the rest of this article.
On top of not approaching their music careers with an understanding of the business side of things, the majority of musicians do not earn a lot of money in the music industry due to making the following mistakes:. Almost all musicians enter into the music business with the same mindset they have used while looking for a regular job. This means they only expect to make a single source of income from touring or releasing music albums.
Of course, there is nothing wrong with this approach to making money. Fortunately, it is quite simple to create many different sources of income for yourself that add up to give you a very stable and sustainable career in the music business. No matter what your main goal is in the music industry, whether it be touring in a band, selling albums, producing records, etc…you will need to have various sources that are bringing in money for you in both passive and active ways.
Regardless of what you do in the music industry, whether it be touring in a band, creating music in the studio, giving music instruction or working as a record producer, the people in the music industry including bands you play for, record labels, music students, etc. This does not simply mean working on developing your music skills!
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Developing truly high value in your music career deals with many different aspects of your personal mindset, emotional stability under stress, and ability to work very hard on a consistent basis. This may seem like a simple concept as you are reading it right now. To find out how much you apply this concept in your own music career, take this short survey for creating music business value. By increasing your potential to create value for all people involved during any music related activity, you will be able to quickly earn a lot of money in the music business.
Understanding the Risks of Pursuing a Music Career
This is one of the main ideas I focus on while training musicians to build highly successful music careers. After you understand the value you are ready to offer in the music business, you must know to whom you are going to give it. For instance, if you are ready to put out your new album, or create a new instructional service or product on your website, who are the people that are going to purchase it? Do you have a way to get in touch with these people?
If your goal is to work as a session musician, have you already spent time to write down all the musicians, studios, and bands that might be looking for someone to work with? What are you going to do today to get the attention of your potential customers?
#1. Meet Anyone and Everyone You Can In This Business.
If you are at all like the majority of musicians, you likely have not invested much time into determining who your market is. Since this is such a major factor for success in music business careers, I spend a great deal of time showing musicians in my music business mentoring program how to build a database and use it to make a good living in music. You might believe that being signed with a music company means that you do not need to work to promote yourself, build a list of fans, or find ways to earn money.
However, in reality these companies are not responsible for your music career, and will not do this for you. The key to achieving success and earning a lot of money in the music industry is for you to take action and build your database. If you merely fantasize about making a lot of money, this is not enough to make this goal a reality. Rather than fantasizing, start working toward what you want to achieve by asking yourself the following questions:.
After you have figured out your answers for each question above, you must focus on making every action you take in your music career go toward achieving the exact goals you have made for yourself. Most musicians looking to become successful in the music business are not sure what they must do to reach their desired goals. If you are experiencing this as well, the best solution to this problem is to seek out training from a professional who has shown other musicians how to earn a lot of money in their careers.
The most successful musicians are well-rounded when it comes to their knowledge of different styles, so make it a point to follow their example. However, the benefits of receiving an education are limitless, especially for traditional genres of music. Typically, a degree will expand your knowledge and increase your income.
In order to decide if a formal education is right for you, consider the type of music you want to pursue. Similarly, many jazz musicians pursue some form of education. Many popular artists have dedicated their time to performing, building connections, and recording, rather than studying in school.
Additionally, keep track of your expenses, and learn what business expenses you can deduct from your tax payments. This includes materials for teaching, travel expenses while on tour, and guitar strings.
How to Prepare for a Career in Music
Last but not least, learn to network so you can build valuable connections. Your greatest opportunities will ultimately be given to you by other people who have already established their own careers. Remember that not everyone will love your sound, not everyone will love your teaching style, and not every performance will go perfectly.
If you bomb a performance, analyze what happened and how you can improve to prepare for the next show. Just brush it off and keep writing music that you love. Hopefully, these tips gave you a good idea of how to prepare for a career in music. Being able to play music from a variety of different genres, channeling your inner entrepreneur, and being persistent will all contribute to your success in this field.
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I work as a professional musician, session guitarist, and guitar teacher, and would like to use my blog as a personal outlet to share my six-string knowledge with the world. Contact me: natalie.