The average producer, songwriter, artist or even executive can easily spend years trying to “break” into the music industry. During this time, you and perhaps those around you, may be questioning
# 1 – Politics
Never give up your dream of working in music because you encounter the unpleasant reality of industry politics. What you have to understand, is that politics are involved in every single industry on this great earth. From law to medicine to technology, so on and so forth. If you work in another industry now and you haven’t encountered politics, it just means that you’re not high enough on the food chain. Most of you, are trying to go from 0 to a trillion, so expect politics to be a challenge the higher up you climb. Even people already “in” the industry face this. This is happens in life, not just music.
# 2 – Finances
Never throw in the towel because you don’t have “X” amount of money to invest. Now, this doesn’t negate the fact that you need a financial plan. Even in personal finance, I’ve seen some people not create budgets because they didn’t think they had enough to budget. This is NOT the move to make! Not budgeting no matter how small is a mistake!
If your funds are low, consider the following:
Re-evaluate how you spend the money you do have.
Use of funds is key. If you’re living a lavish lifestyle, figure out what you can cut back on. Spend less on cars, sneakers and weed (yes…weed!) and ball on a budget. You can use the excess funds to invest in something that will help you move your music career along. If you’re not living a lavish lifestyle, cut back wherever you can. Eat at home instead of dining out. Buy less drinks at the club. Cop less sneakers every month. When I was about 20 I had an old ’83 Ford Escort. My family members would crack jokes on me because I had to get in from the passengers side and I didn’t care. They all drove fancy cars and I worked a lot so they knew I could afford to as well. The reason I drove that car is because I paid for it cash and it was cheap. It got me from point A to point B. At that time, my motto was “If I can’t make money off it, I’m not spending a lot on it.” Doing this allowed me to invest in my ideas, which were far more important than the car I was driving. And actually, our passions are a vehicle for success. Plus, I had a friend who worked as a stripper at the time and she taught me an invaluable lesson. She told me…. “It all adds up.”
Determine how you can make more money.
If you are already giving 8-10 hours of your day to a regular 9-5, you may as well be making as much as you can. Look for opportunities that allow you to maximize your time as well as those that give you the biggest bang for the buck. Sell some old gear, home furnishings, appliances, video games, or anything else of value that you don’t use. If your day job is not too demanding or if you work part time, pick up some freelance work or another side hustle. The more you make, the more you can advance your career—period.
Create a financial plan.
Here at Dynamic, we’re big planners. Why? Because if you fail to plan, you plan to fail. To start, look at where you want to be business wise in the next 12 months. Create realistic goals and a budget to go along with that. More than likely, if you plan your music investments you can do more because you’re not operating last minute. You may determine that you can save or make $100, $200 or $300 per month. Get your calculator out and start figuring out what you’re going to invest in later to be prepared. From the time you start saving, begin to figure out how you can make the most of your investment. At the same time, look for ways to accomplish some goals with low to no funds. Now granted you should never want to get EVERYTHING for low to no, but certainly there are some things where the cheap route is ok. There are a lot of resources out there, you just have to know where to look. We share a lot of these resources with our members. If you’re a Dynamic Producer or Dynamic Songwriter, get with your advisor to see how we can help you along the way.
# 3 – Lack of Support
Don’t ever let a lack of support prompt you to vacate your dreams. If there are individuals around you who don’t encourage you to explore your passions, you have to figure out a way to deal with that. I’ve heard many stories of significant others not supporting a career in music because it’s not so calculated. I’ve also seen families pressure kids to takeover the family business. Now, while I won’t be the person to tell you to leave your girl (or guy), I will say that you need to expand your circle of support to include those who push you to greatness. Often times, people may not get your passion because they haven’t identified their own passion. Passion is very abstract and it’s hard to understand it if you don’t experience it. Talk to your friends and family and express how important their support is to you. At the same time, welcome more people into your life who get it.
When the going gets tough, always remember that anything worth having is worth fighting for. The question is…how bad do you want it?
The Dynamic Effect
Dynamic Producer members take full advantage of our exclusive member privileges that include consulting with an advisor on music industry insights, music business & so much more! Dynamic Producer members make better music, know more about the business and are more likely to succeed. How do we know? Because we work with each member every step of the way to ensure growth & success! Dynamic Producer is the only GPS you need to get on track. Apply for membership, put yourself on!