Building Your Asset Portfolio as an Artist

Building Your Asset Portfolio as an Artist

I’ve covered the fundamentals of asset creation in several places, including my best-selling The Music Entrepreneur Code.

And the main thing you need to understand is what constitutes an asset.

Homes, cars, boats, things that either decrease in value over time, or require a massive upfront cost and ongoing maintenance fees are generally not assets.

People say you can make bank on real estate investments, and that may well be true, but I have only ever seen people pay off their debts after selling their home – never coming out ahead in any other way (not to diminish paying off one’s debts).

Still, property is one type of asset I’ll be talking about here, so you can’t completely write it off.

There are only three types of assets, though, so in addition to identifying them here, I will also share a little bit about my asset portfolio.

1. Businesses

Obviously, there are times when businesses are anything but an asset. Investopedia says roughly 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years.

I would posit, though, that your odds of success in music aren’t a whole lot better. So, don’t get caught up in the numbers.

Personally, I would consider Music Entrepreneur HQ a saleable asset. It has a certain amount of traffic, a bit of a social media following, and an email list. And, if someone else wanted to run it, they certainly could. There isn’t any major cred tied to the name David Andrew Wiebe, and I’m not so embedded in the business that someone couldn’t rebrand.

I have some other promising ventures in the works that could certainly develop into assets as well.

2. Investments

I have a couple of whole life insurance policies that act as my Infinite Banking Concept. And while these aren’t strictly investment vehicles, they have certain advantages over conventional bank accounts that make them quite attractive.

I also have some minor investments in cryptocurrency, but knowing that it’s speculative, I have not put large amounts of money into it.

3. Property

With billionaires buying up land, property ownership is fast becoming rarer by the day.

But intellectual property is also a form of property, and this is where, in a way, creatives have got it made.

Personally, I’ve got six books, 30 musical works, as well as courses, eBooks, and various other forms of intellectual property that continues to produce an income. And I’m far from finished.

Quick reminder – you can now get the Kindle edition of The Music Entrepreneur Code – 2022 Edition (just in time for the holidays). Don’t get left behind – be the first to get my latest work into your hands!

What Are All the Ways You Can Earn an Income as an Artist?

What Are All the Ways You Can Earn an Income as an Artist?

It’s my experience that most artists don’t even think about this. Because let’s face it, most people don’t think about this.

It’s the job of the boss to figure out how the money is made. So, most people are stifled by an employee mindset that doesn’t allow them to consider, create, and pursue perfectly viable income opportunities.

Sad but true – many artists are settling for less than they could be making, and it’s not even their fault!

Many artists are settling for less than they could be making, and it’s not even their fault! Share on X

If you consider yourself a musicpreneur, though, it’s time you started thinking about revenue streams as a business owner would.

Because most artists go…

  • Live performance. Check.
  • Merch sales. Check.
  • Streaming royalties. Check.
  • YouTube. Check.

And move onto other pressing matters.

If they’re a little savvier and worldly, then they know that music licensing and placements is something they want to pursue, but that’s about where the buck stops.

And if that doesn’t describe you, great, you’re more cognizant of what’s happening in the world and the growing creator economy, and maybe this section won’t apply to you. Otherwise, keep reading.

Besides my ever-growing article on 27 Ways I’ve Made Money in Music, which would certainly be worth your perusal, it would be prudent to practice – for lack of a better term – some “outside the box thinking.”

Could you write a book, take speaking engagements, start a mastermind, create your own music festival, get sponsored by a brewery, or create a presence on a blockchain-powered social network?

I’m not saying these would be good ideas for everyone, nor am I saying all these endeavors are lucrative. But anything that gets you in front of more people can only help, in terms of PR, new connections, and experiments that live on as vital life and career lessons.

Not to get too carried away with too many ideas, but start the process of brainstorming, and you will be surprised by the sheer volume and quality of ideas you generate.

At all times, I am abundantly clear on the various financial opportunities available to me:

  • Display advertising
  • Affiliate sales
  • eBook sales
  • Book royalties
  • Course sales
  • Membership fees
  • Content creation
  • Guest posts
  • Coaching
  • Speaking engagements
  • PayPal donations

What are your revenue models? Are you sure you’re aware of every opportunity available? Is there a way to cobble together a viable income, even if it requires you to pursue multiple opportunities simultaneously? If so, do you have the guts and perseverance to do it?

Quick reminder – you can now get the Kindle edition of The Music Entrepreneur Code – 2022 Edition (just in time for the holidays). Don’t get left behind – be the first to get my latest work into your hands!

Now Available: The Music Entrepreneur Code – 2022 Edition

Now Available: The Music Entrepreneur Code – 2022 Edition

Last year, David’s fifth book, The Music Entrepreneur Code became a best-seller and was well-received by musicians, entrepreneurs, and freelancers alike.

In our ongoing efforts to help you on your musical journey, we wanted to put together a brand-new edition with more personal stories, more data and insights, more opportunities, and more ninja (find out what this refers to in the video).

And so, we came up with The Music Entrepreneur Code – 2022 Edition which is now available on Amazon.

Video Highlights:

  • 00:00 – Why The Music Entrepreneur Code – 2022 Edition
  • 00:38 – An all-new, personal, emotional introduction
  • 01:10 – 30 pages worth of new content
  • 01:49 – More case studies, examples, and insights
  • 02:18 – New opportunities for you!
  • 02:47 – Paperback and hardcover editions to come
  • 03:02 – Closing thoughts

Transcription:

David Andrew Wiebe here with Music Entrepreneur HQ. And I wanted to put together quick video today to talk about The Music Entrepreneur Code – 2022 Edition.

Why a New Edition?

So, why put together a new edition of this book now? Why would you want it? Why does it even matter?

Last year, this book did really well for us, became another best-seller. Got a lot of positive feedback on it. Thank you, that would not be possible without your support.

And so, we thought what could we do to build on it? Is there something we could offer, something we could expand on, update, and revise, and we’re calling that “more ninja” because it’s boring to talk about updates and revisions. And put it back in your hands as something better than it was before.

An All-New Introduction with More Heart

One of the things that was completely revamped was the introduction. Why the introduction? Because I wanted to create a connection with you. I wanted to let you know that I’m a real human being too, I’ve been through struggles, I’ve been through challenges.

There have been all kinds of things in my life that haven’t gone as I thought they would especially in my artistic and music career. I wanted to create that relatability with you in the introduction, and share my story – not a sob story, not a B.S. backstory, it’s the true story of some of the struggles I’ve been through and where I am today as result of having overcome those challenges.

30 Pages of New Content Expanding on the Original Book

There are 30 new pages of content in the book as well. And I know I’m going to get some questions on this, so I’m going to answer it now.

You might compare the two editions side by side on Amazon and see that the page count is similar.

Look, we had to make some decisions about the interior design and reduce whitespace in the book to accommodate the dimensions of the cover. If you have too many pages, there are going to be issues in printing with the cover. So, to reconcile this, we did some things formatting wise to eliminate unnecessary space.

More Powerful Examples, Case Studies & Insights

There are a few more case studies, examples, breakthroughs, insights, and ideas in the book that put some meat on the bones of the book.

I’ll be talking more about that kind of stuff in my next book, The Music Entrepreneur Companion Guide, and it’s going to be a hell of a lot longer than The Music Entrepreneur Code.

Either way, the 2022 Edition of The Music Entrepreneur Code takes things further than the original release.

New Affiliate Opportunities

Finally, we also added opportunities. We wanted to create an affiliate program. The book talks about becoming an affiliate to earn a side income. So, we thought “why not make it so you could share this book and earn an income on it?” If you like it, you’re going to share it anyway, right? So, why not earn an income on your shares?

We’re looking to set up that affiliate opportunity as quickly as possible, but the only way you’d be able to get access to it is if you bought the book in the first place.

Paperback & Hardcover Editions to Come

It’s also worth mentioning that paperback and hardcover editions are coming. We’ve never done hardcovers before, but Amazon KDP recently made that feature available, and we’re excited about taking advantage of it.

So, if you didn’t already get your copy of The Music Entrepreneur Code, this is the definitive version. This is the one to get. We had some new things to share, with 30 pages worth of new content.

And if you already have a copy of The Music Entrepreneur Code, great, maybe this is for you, maybe it isn’t, but we’d love for you to go and have a look.

So, I invite you one last time to check out the latest edition of The Music Entrepreneur Code. Like, comment, and subscribe. Thanks for joining me.

Subscribe to the Music Entrepreneur HQ YouTube channel

Get your copy of The Music Entrepreneur Code – 2022 Edition

How to Stop Chasing Shiny Objects as an Artist

How to Stop Chasing Shiny Objects as an Artist

In the last 20 months or so, we’ve seen the growth of more platforms, more opportunities, and more schemes than ever in history.

Cryptocurrency, blockchain-powered social media, NFTs, Patreon, Fangage, Substack, Ghost, Steemit, OnlyFans, NewsBreak, Clubhouse, TikTok, Odysee, Rumble, DTube, and countless others.

And I recognize that certain opportunities have been around for longer but didn’t necessarily rise to prominence until more recently.

What I want you to take from this is that the velocity at which new opportunities arrive is only going to increase. Rest assured; this is not a passing trend.

The spoils, though, aren’t going to go to the first movers.

“Wait, what?”

That’s right – for the most part, the greatest rewards will not be for the first movers to claim, regardless of what you’ve come to believe about being the first to something. I’m not saying first movers will do badly, but they are going to end up leaving opportunity on the table.

You know why?

Because the majority are fair weather believers. They will stick around so long as things are going their way, but the moment they don’t like changes in algorithms, terms of use, and engagement levels, they’ll be moving onto new opportunities – usually not realizing that the true rewards go to the steadfast, consistent lifers.

The true rewards go to the steadfast, consistent lifers. Share on X

And like I said, because opportunity is coming at us with unprecedented velocity, you will find first movers jumping from one platform to another like they were frogs hopping lily pads.

Now, there’s no question we need to move with opportunity.

But whoever declared the death of blogging got it all wrong. I have never seen blogging more popular than it is today!

Who is winning the blogging game? People who’ve stood the test of time – Seth Godin, Neil Patel, Mitch Joel, Derek Sivers, Brian Clark, Jon Morrow… we could be here all day.

Identifying the right opportunities can be admittedly tricky. Sticking with a sinking ship isn’t going to serve any of us.

But flaking out is just as grave if not more so.

Seek out opportunities with staying power. And if you’re going to take advantage of opportunities that might be a passing thing (and most social media sites are), be sure to create a backup plan. Protect your assets.

Seek out opportunities with staying power. Share on X

There’s just one last thing I want to share.

I have a friend who recently lost $1,800 in a crypto investment.

I cautioned her against investing more than she was comfortable losing. I warned her that there were many so-called gurus out there shilling shitcoins. I told her that transferring her Bitcoin balance to someone else was dangerous.

She still had to learn the hard way…

And this is not a “told you so” kind of situation. It pains me to see her lose. I was the one who turned her onto crypto investing in the first place.

But you can’t let failure stop you. Just be sure to look at everything with a critical eye before jumping in with both feet.

Look at everything with a critical eye before jumping in with both feet. Share on X

Quick reminder – you can now pre-order the Kindle edition of The Music Entrepreneur Code – 2022 Edition (just in time for the holidays). Don’t get left behind – be the first to get my latest work into your hands!

Weekly Digest: December 11, 2021

Weekly Digest: December 11, 2021

David Andrew Wiebe, October 2021Hey creator!

And there’s always more where this came from

Must-Have Resource

Quick reminder – you can pre-order the 2022 Edition of The Music Entrepreneur Code on Kindle, now with more ninja! I’m excited to get his new work into your hands.

The Music Entrepreneur Code – 2022 Edition

Final Thoughts

Thank you for your creativity and generosity. I’m rooting for you.