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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! Click To Tweet
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
- 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!