Business principles that apply to music

Hey everyone! So today, I’m going to share with you all some business principles that apply to music. 

Before we get into it, let’s have our moment of silence. 

At this time, I would like all of us to take a moment of silence and pray to God to help us to follow him throughout all of our lives. Take a minimum of 5 minutes and pray for this. 

Now back to the show

Business principles that apply to music

So what happens is that there are some key components in business that you should know so that you can further your music career. 

Now these principles apply to all business, but the reason why I’m introducing this into music is because music itself is a business. 

There is a side to music that all contracts and charts and paperwork that not a lot of people want to be a part of. 

I’m pretty sure that if you have been in the music world for a while, you already know that. 

So let’s talk about this.

If you’re not growing, then you’re on a decline

So in business, you have to constantly be on the search for new customers. 

In music, those customers are in the forms of fans and followers. 

In a business, you need to be constantly investing in attaining new customers and in music it’s similar. 

Especially when you first start out in music, it’s very important to get those first initial followers under your belt. 

Not only does it start your income in music, but it also gives a boost of morale to you. 

Having 100 followers on your blog is very encouraging because you have worked hard to attain those followers. 

And having 100 followers encourages you to keep going in music.

But it also starts your income streams. 

I mean 100 followers are not going to pay your bills. 

But when those 100 turn into 10,000 then they might. 

So you have to constantly be on the lookout for fans and followers to increase.

and the rule of thumb is that if you’re not increasing, then you’re decreasing. 

That’s like that for every single type of business as well. 

So what I recommend to you, if you’re an indie musician or if you’re a great musician but you haven’t started your music career as of yet, then I recommend that you make a marketing plan.

I’m pretty sure that you’ve heard of marketing plans in business class before. 

But there are music books out there that have marketing plans as the first thing that they talk about, and I feel like it should be a part of a musician’s life too. 

So create a marketing plan.

And to those of you that don’t know, a marketing plan is the plan that you use to attain new customers/fans.

In that marketing plan, you find where your fans are, what are the demographics behind those fans, how to reach those fans and what type of message you want to come across to those fans. 

Now in music, our marketing plans have already been defined by tried and true methods of building a following over more than a century of indie musicians doing the same thing.

The thing with music is that you have a few methods of reaching your fans.

Flyers (Posting up flyers all over town to attract attention to your twitter following or music is one way that’s currently used today by a lot of big companies)

Internet promotion (My favorite way of promoting your music. Because internet promotion has become really easy. And you attract way more people for a whole lot less money than traditional promotion methods. Don’t over think this, the only thing that you need to do to be successful at internet marketing is to create content. That’s it, That’s like 90% of all the work that you need to do in order to be successful at internet marketing.) the other like 10% is like administrative work like putting up your blog on google search console or setting up backgrounds on YouTube.

But literally the majority of what you have to do is to create content. 

Don’t overthink it, that’s how you get views, that’s how you get followers. 

and the last method that I should mention which could be your most vital way to attain followers for your music is live promotion. 

Live music is a tried and true method of promoting your music.

But when you do it, you have to do it constantly and consistently over a long period of time. I’m talking every day going out to perform a show That’s how you build a following. 

And that honestly could be your biggest asset when it comes to promotion. 

As of now, I’m mainly doing internet promotion and some live shows, but mainly internet promotion. 

So be on the incline not the decline.

It takes time

Music takes a lot of time to succeed in.

Like a business, music can take a long time to actually make money in.

I remember I saw an interview with a millionaire one time and he said that it honestly took him 7 years before he saw his first 100,000 dollar a year paycheck

and now he had around 5 businesses and he was a millionaire. 

I actually saw that from a few millionaires and billionaires that said that. 

And even if you look at it, most millionaires are around 60 years old.

that’s a statistic.

Most millionaires are 60 years old. 

So don’t be discouraged at the fact that you’re young and broke because in reality that’s the way that God designed it to be. 

Don’t be scared to fail

Failure is all a part of life. 

If you fail more often, that means that you learn more often. 

So if you see that you start out this music career and you are failing a lot, don’t be discouraged because failing is a part of this music game. 

Broadcast

I sure hope that I have been an inspiration and a hope to you all. Please remember to pray, read your bible, go to church, and love God above all else. Like, comment, share, subscribe, and I will see you all next time.

If you want to go to heaven, then believe in Jesus and you will go to heaven. (John 3:16)

Thank you all for listening in on this blog post. 

German Gonzalez, signing out!