If you want to become successful in making money from your music you have to run it like a business. The only way to get the income you strive for is hard work and there are no easy shortcuts.
I have done a lot of different projects online and some of them turned into full-time endeavors, where I made a living from them. Then one thing the successful projects had in common was that we/I ran them as a business.
There is a big difference in the way you do tasks when you look at them as work and not a spare time project.
- Instead of just thinking about doing something you get of the couch
- When you run a business you work concentrated and don’t stop until your shift is over
- You have a plan for what you want to achieve and when to it has to be done
Starting a business is not easy
When you start a business you spend long hours working hard and have nothing to show for it. Typically the time frame for getting a new business up and running is 2-3 years. Its only after this period of time you actually start to make a profit.
I think this holds true for starting a business selling royalty free music. It can of-cause be shorter or longer depending on what you goals are and your work ethic. For a start, creating 100+ pieces of high quality stock music takes a lot time and skill.
Then you have to learn marketing, how to create a website, how to write track descriptions that sells, how to tag music, how to pitch music, what kind of music you should create and how the music should be structured. Expect to use 40 hours or more every week to make your music into a full time living.
When you start out you don’t have much to work with. No knowledge, no connections, no references and no money. All of this takes time to build and the only way to get it all, is working at it every day.
Working part time can be a great way to start your music business
Most people don’t have the time or money to work full time on a getting a businesses up and running. This should however not stop you as there are always alternatives. Having a part time job has been a great way for me to start new online businesses and I know of countless others that have done the same. By having a part time job you make sure that you can pay the bills, while also having the time needed for starting a business.
Working at home has a lot of benefits, but the lack of social interaction can be a real killer – especially in the long run. When you’re composing music you work alone most of the time. It can therefore be a great help to actually get out and meet people at a regular job. For me having a part time job and working on my own projects is great combo and I actually prefer it over running my own business full time.
Never let any one tell you what you cant do!
Many times when I have talked about new business projects to people (even friends and family) they have not had any confidence in me or the projects. Things like these I have heard quite often:
“it will probably be a good learning experience for you” (implied that it would only be that)
“just stick with your regular job and you’re safe”
“there are too many other business doing that, too much competition”
Don´t let comments like the ones above stop you. Prove them all wrong instead by treating your idea of making money from music as a business.
It took 2-3 successful business endeavors for people around me to generally believe in all my new crazy business projects. I have a great loving family and great friends, but most entrepreneurs have heard comments like ones above.
I’m not quite sure why people in general are like that, maybe they are just afraid you actually will succeed and do what they never dared to do.
The music business is very competitive
All arts are very competitive and making money from art is even harder. Music is by no means an exception, but many musicians fail because they don’t think of they music as work.
If you want to make money form your music there is no way around it, you need to work hard and have the right mindset. Today everyone can make music from the comfort of their homes, but this does not mean there is no place for your music in the market.
If you have a solid business plan, work harder than others, make great music and spend the hours it takes you can definitely get a successful music business up and running!