You want to make money from doing what you love.
I get that. That’s why you’re here and that’s what I want to teach you.
But are you taking advantage of every way you can make money when you do what you love?
Chances are, you might be limiting yourself to only making a percentage of what you can actually earn.
Different Revenue Streams
Take gigs for instance. Off the top of my head there are at least three different ways to make extra cash playing live.
- Get money from playing gigs. Not even counting the different ways you can get paid for playing.
- Selling merchandise.
- Getting tips
If you’re only relying on one of those things for revenue during your shows you’re leaving a lot of money on the table.
Before you get all “I don’t want to be sales-y and annoy my audience let me explain what “leaving money on the table” means.
It’s the money your fan already wants to pay you. However, since you don’t have a way to give him value in exchange for the money he’s already willing to pay!
But let’s backtrack to those three things above and analyze why it’s important to use them all.
In a given night you could get paid by the venue for playing. Then you sell merchandise during your breaks and/or after the show. And don’t forget, during the show you have a tip basket that you mention throughout the show so that people regularly give you tips when they walk by.
So that’s three revenue streams that are all chugging along before, after and during the show!
Your Lesson Today
Make the most out of your show by having the business sense to realize how you can earn money in multiple ways.
Realizing multiple streams of income is a very important skill to develop. It’s not only applicable to gigging but any aspect of your career so you can do it full time.
Make no mistake, full time doesn’t mean one job. It means creating a multifaceted skill set that creates a kick-ass career.
In the next few emails we’ll be talking about that and some of the other skills you need to become a successful musician.
Stay tuned for the next one.