One of the strangest anomalies that occurred as a result of lockdowns and business closures, has been the rise of the entrepreneur. In unstable or unpredictable economic times, we’re searching for income-producing opportunities that are more under our direct control.
In recent months, we’ve seen the great resignation that started in the United States and has steadily moved across to Europe and the rest of the world. Workers are increasingly seeking a greater balance between home and work-life, and they also want greater control over how they earn what they believe they’re worth.
So it is in this environment that we find a new spirit of the entrepreneur. Individuals who are falling back onto their skillsets and passions and turning those into income-generating opportunities.
One of the sectors that are seeing an increase in economic activity is the creative arts and more specifically, music production. As reality shows like the X-Factor and Britain’s Got Talent continue to attract record audiences, more young people are looking to privately owned studios and producers, to help turn their dreams of stardom, into reality, and this means that if you’re a producer or musician worth your salt, you could be in for a very nice payday.
FIRST UP – KNOW YOUR STUFF
This is serious. If you’re going to compete in a very competitive field, then you’re going to need to be able to show that you know what you’re doing. Far too many wannabees have tainted this industry and you should ensure that you’re not going to be one of them. So even if you have natural talent and ability, no one is going to take you seriously if you don’t have some kind of qualification to back it up.
PLAN FOR IT
Equipment, gear and time – three incredibly important resources for the budding producer, songwriter or performer, are also not cheap. So having a solid plan based on your particular skill set and what you mean to offer, is critical. When you know what you need, how to get it and how much it’s all going to cost, the rest of your life will become a lot easier. Now you can budget and save towards your ultimate goal of going solo.
Remember to include things like Soundproofing, especially if you’re going to be operating from home and work a budget for marketing and social media awareness. Facebook offers highly competitive rates for advertising, so keep them in mind too.
RUN YOUR BUSINESS, LIKE A BUSINESS
One of the biggest mistakes that creative types make when starting a business is trying to outcool everyone else. All this achieves is alienation and isolation from potential customers. Even though you’re lucky enough that your passion and talent happen to be what you’re planning on doing to earn money, you’re still a business. Behave accordingly.
There are so many avenues that you can pursue in this industry that go far beyond production and recording. Think events, marketing and product activations and launches – no awesome event ever happened without music.
All of this means think outside of the box. It’s not easy, but nothing worth having is and lucky for you, you happen to live in one of the coolest countries in the world, and Britain has a long-established and flourishing music scene. Inspiration, achieved!
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