Hey, music entrepreneur! Today, we’re going to look at some of the biggest challenges musician entrepreneurs face as they’re looking to get established in the music industry.
This post comes to us via Rana Tarakji, who’s shared her wisdom with us before.
If you’re interested in sharing your knowledge with us, then you can find our guest posting terms here.
With that, here’s Rana!
Being a musician entrepreneur is not the easiest thing in the world. You see, while most people get to be clear-cut employees, employers, or business owners, a musician entrepreneur often must be all of these at the same time.
Does this sound difficult? Absolutely! In fact, here are just some of the challenges musician entrepreneurs encounter and a few suggestions on how to overcome them.
1. There Are Just Too Many Hats to Wear!
As mentioned, musician entrepreneurs (especially independents) have a lot of hats to wear. As artists, they must generate ideas and produce and record their own music. As businessmen/businesswomen, they must figure out a way to market their music, maintain an online presence, and hopefully, keep customers wanting more.
Moreover, the skills necessary for performing each role requires mastery, time and patience. Editing your music, for example, requires knowing how to work with (at the very least) one DAW software and one video editing application.
There’s also labeling and business-related skills like negotiating. To add to the complexity, if you’re using a website to promote your music, you will also need some tech skills to establish and keep an online presence.
This can get very stressful at times, so you need to be patient. Do not expect any quick bucks from being a musician entrepreneur, especially if you are not willing to ask for help from the start. Accept the fact that you will need to learn how to play each role first before you see any return on your investments.Do not expect any quick bucks from being a musician entrepreneur, especially if you are not willing to ask for help. Click To Tweet
In other words, if you are already an accomplished musician, then you should keep on composing and compiling demos until you fully master editing.
Afterward, study the business side of things – marketing, distribution and building your network. Then you can move on to mastering SEO strategies if you don’t want to hire a link building agency to do it for you.
2. I’m Too Tired & Don’t Have Any Energy to Deal With This!
Because each role that you play as a musician entrepreneur requires energy, you will often find yourself drained to the last drop. Rehearsing, performing, recording, editing, promoting, negotiating – each of these is a huge task for one person to handle, and you’re looking to take on all of them. How do you do all of these and still have energy left?
First, surround yourself with people who enjoy music like you. If you have a band, make sure that your band mates are enjoying rehearsing, performing, and recording music with you. This way, you are accomplishing several tasks while having fun in the process.
Everyone knows when you’re having fun, and when you’re enjoying yourself, the work doesn’t get as tasking as it normally does. It won’t even feel like work at all! And, before you know it, you’re onto the next task with plenty of gas left in the tank.
Second, on a more practical note, delegate days for specific tasks. Do not do everything in a single day. Limit your tasks by assigning objectives for each day and then sticking to them. If you find yourself still bustling with energy at the end of the day, then go spend time with your family or just pamper yourself. You’ll find yourself rejuvenated and ready for action the next day.
3. I Don’t Feel Motivated to do Anything!
It’s normal to feel demotivated, especially if you don’t see a return on your investment. This is especially true for musician entrepreneurs. With all the work you need to put in, the roles you have to play, and all the energy required to sustain the work, it’s difficult to keep yourself motivated.
But you also need to keep in mind that this is not an ordinary profession. Not everyone gets to play music and earn from it, and not everyone gets to be their own boss. Not everyone gets to distribute their own music, make their own record labels, or develop a fan base.
Recognizing and acknowledging all the perks that come with being a musician entrepreneur can provide you with all the motivation you need.Recognizing and acknowledging all the perks that come with being a musician entrepreneur can provide you with all the motivation you need. Click To Tweet
4. There’s Just Too Much Competition Out There!
Normally, competition is good. But if you’re just starting out as a musician entrepreneur, it can be very daunting, especially since there are already plenty of other musician entrepreneurs out there that are well established and more experienced than you. How do you overcome this?
First, don’t lose heart. Most entrepreneurs start out like that, not just musician entrepreneurs. The market is not on a decline anyway. Just stay focused.
Second, you can turn these so-called competitors into a gold mine by partnering or networking with them.
For example, you could collaborate with them. You could bundle up your albums and sell them together at a discount. This way, you get to tap into the market that they have already built while you’re still building yours.
Lastly, you can hire the services of existing SEO companies that work in the background to strengthen your site’s online presence. A link building company, for example, can quickly boost your site’s ranks through a guest blogging service or any number of SEO methods, while you simply concentrate on your music.
Crack the code on the music business. Get THE MUSIC ENTREPRENEUR CODE book.
- 4 Challenges Musician Entrepreneurs Face & How to Overcome Them - January 1, 2019
- How to Shift from Musician to Music Entrepreneur - February 6, 2018