With a little persistence, passion and a wealthy mindset, you can get closer to funding your dreams!
In this module, we explain how we create funds for buying everything we need for our careers as musicians and creatives.
All you have to do is follow these 7 steps to be funding your dreams you’ve been putting off for sometime now.
Get a Job
We know that this strategy is not the most attractive, but it is definitely the most effective. This is most likely something that your family/friends have suggested to you the most. The reason is simply because, “Money is the fuel to everything that you are trying to do.” And having a job is the easiest way to earn a steady income.
Ask Friends or Family
We’ve probably all been here before. When it comes to leaning on your close friends and relatives, you want to be aware of the strain that may come with this strategy. It would be wise to avoid “overstaying your welcome.”
Sacrificing a relationship just to fund your dream seems like a steep price to pay. But this strategy is worth a shot since your friends/family might want to support your most.
Gigging is one of the best ways to make money as a musician. Now, you have to be good enough to get paid for your talent. There is a strain that comes with the time and effort necessary for this strategy. If you love what you do and can get a decent amount of gigs, this is an effective strategy to save funds for equipment upgrades.
Charge $$$ for a Feature or to Write a Song
This can be you featuring in a song by another artist or writing a song for someone else to perform. Either way, you still get to do what you love AND you get to collaborate with other artists.
Buy and Sell Merchandise
There are a few options for this strategy. You can buy it for cheap and sell it for more by getting your product wholesale. You can also design your own products and have those items turned into products made to order. Wherever you are, there are likely folks that make or design merchandise locally. If graphic design isn’t your forte, don’t worry. You can commission someone to do it for you.
Nonetheless, having gear is suggested to have fans be able to take something from performances. If you are in the process of gigging regularly, this strategy is great to be able to make some extra income.
Apply for a Grant
This strategy is a bit more advanced in the process of funding your dreams. If you have already gotten your career started and need a bit more of a financial push, this strategy is excellent for accessing funds that are allocated for budding or working artists. Most times, there are Arts Commissions in town that are willing to contribute to artists’ efforts. There are MANY funds out there that are specifically for the arts and music. Just go online and find out which organizations are giving these funds away in your town. The trick with this strategy is that it helps to have a body of work to show and tell the organization what your plans are for your upcoming project. If you can do this, you’ll likely receive the funding that you seek. Your chances of successfully receiving a grant are higher if you are:
- Writing persuasively
- Actively budgeting
- On top of a timeline for the upcoming project
Licensing your Works
Our final strategy is MUCH more advanced. If you are able to get grants and are well on your way to building your career, licensing might be an option for you. If you are going to go for licensing, make sure of the following:
- Registered with the Library of Congress
- Register with a publishing rights organization
- Register with Nielsen Soundscan
- Decide on licensing “Exclusive” or “Non-exclusive” works
When you get to a point where you have a body of work that you can license, you can build a library that folks can license your works. With this body of work, you are also able to submit your works to music supervisors for television and other media.
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