10 things I tell students who’re concerned about making money from music
As time goes on more students come to me concerned about how to make money from music. I’m finding myself telling them the same things. Here they are:
Start young, & if you can’t start young start now - be visible.
FTPFPTW - If you’re not independently wealthy your new mantra is ‘full time pay for part time work’. Devote at least half your time to setting yourself up.
FTPFPTW Fields - At the moment I recommend anything matching their personality profiles & interests in tech (sorry music - if anyone has any others I’d love to hear them!)
Learn how to spot trends - Aside from the obvious threat of AI, I’m feeling 3D, holographic, & self-employment as just a few future work-based trends, both musically & in what could be supporting work, such as teaching. Position accordingly & learn how to spot trends.
Become financially literate - Learn how to invest, weigh risk, start a business, do your taxes etc. Know basic economics & the basic legalities of your work & rights. The economic climate & legislature does affect you.
Do your inner work (& don’t stop) - You can’t stand on your head to please everyone, but you can make sure you’re the best possible most conscious version of yourself to present to industry types. Better you = a better life (…& who doesn’t want that?!?… even if the music does fail, this is a win-win!)
Research - Regardless of who you’re reaching out to, research what they represent/do & only email if you genuinely fit their bill & believe you have something to offer. Keep it relevant & enormously brief.
Network (1) - like crazy… Learn to read the room. Learn to read social cues. A ‘take take take’ vibe comes across. Music, like the big jobs, is a people sector, not a job application sector.
Network (2) - Networking can be seen as ‘dirty’ somehow, but it doesn’t have to be. See the people you’re networking with as being just like you: largely searching for genuine human connection. They get bored, have likes & dislikes, & have very limited time (…so see above!).
The products game - Take one of your pieces/songs & list every possible product/outcome you can create, e.g. (aside from making a piece/song & putting it on Spotify) a song can be synced, licensed, you could sell the score, make a music video, a ‘making-of video’, enter it into a competition, have others perform it, attach a ‘free something’/another product to it, etc.
BONUS - Pivoting - The music industry has changed immensely & will continue to do so. Keep up to date & change with it.
I’d love to hear what you say and/or what your predictions are for both the music sector & the sectors it moves across, so get in touch.