Making Money Out of Music
Guest post by Marissa Perez
Many musicians supplement their incomes by offering freelance music lessons. This can be a great way to generate funds in between gigs while still balancing your time while working a traditional 9 to 5 job, playing shows, going to school, or raising a family. Mage Music can be a resource for tips, resources, and inspiration!
Getting a Business Moving
You can take an occasional music lesson and grow it into a more professional music lesson business with a few simple steps. According to the U.S. Small Business Administration, the first will be writing a business plan and identifying the target market you want to reach. This will help you put together a strategic marketing campaign that will attract the right students. You’ll also need to establish a business name, get a business license, and set yourself up with a website and social media profile that will allow you to both attract and interact with potential customers.
If you’re starting up a music lesson business while still having an active professional and personal life outside of the business, you’ll need to be highly organized. Tech Radar notes it’s smart to take advantage of appropriate apps and software like invoicing software and scheduling calendars that give a detailed picture of what each day looks like. This will help ensure you’re meeting all of your goals and not overlooking anything that needs your attention. An invoice maker, in particular, can ensure you get paid on time. You may find it’s also beneficial to hire an accountant or lawyer or even a marketing pro to boost your business’ image.
Collaborate With Others
Many small business owners find it’s beneficial to collaborate with other businesses in complementary lines of work. For example, a hair salon might team up with a nail salon to maximize outreach to similar audiences. In your case, you might form a coalition of other musicians who also give lessons on the side. Adding them to your business as independent contractors will allow you to grow your company and offer a wider variety of services. Make sure you have formal agreements in writing that break down role, responsibility, and compensation.
You may find you need to juggle competing priorities, in which case you’ll need to decide what takes priority in your personal and business lives. For example, If you’re expected to be at a 9-to-5 job, you’ll need to schedule music lessons in the evening hours or on the weekends. If you’re taking care of young kids, you may need to arrange to have a child care provider assist with their care when you’re working. You’ll also want to think about how you’ll accommodate things like canceled lessons, over-bookings, or slow-paying customers. Don’t forget to build in personal time for self-care. Starting a business can be stressful, so take time to exercise, sleep well, and get enough exercise.
Balance Work and Life
When you’re freelancing or starting up a business, you may see the lines blurring between your personal and professional lives. This can become stressful, so look for ways to keep the two separated to some degree. For example, if you give lessons out of your home or use a home office, try to establish it in a quiet area of your home, keep the door closed, and let other family members know that when you’re giving a lesson or working on business-building plans, you need your privacy. It can take a bit of adjustment, but once you’re into a regular routine, the setup will feel more comfortable.
Taking a business concept from an idea to a freelance gig to a full-fledged business takes time and effort. It is, however, a great way to share your passion for music and encourage the next generation to share in that passion as well.
Mage Music offers high-level professional-grade music lessons and the site is home to an informational blog. Reach out today for more information.
Marissa Perez wants to share her knowledge with those who have decided to take on entrepreneurship. She co-created Business Pop to provide insight and advice to those who aspire to succeed in owning a business.