Income Streams
Apr 15, 2022
Okay, now you've made your budget and figured out how much your project is going to cost.
So, how are you going to pay for it?
You have several options:
• Contributed Income
• Earned Income
Contributed Income is any money that comes to you simply because you are asking for support. Examples of contributed income are:
• Donations (individual or crowdfunding)
• Grants
Earned Income is the exchange of goods and services. Examples of earned income are:
• Ticket sales
• Merchandise sales (t-shirts, albums)
• Fee for hire (when someone hires you to perform)
• Sponsorships/Ads (when companies pay you for advertising in your program or product placement)
• Royalties (usually from streaming, but there are a number of different kinds of royalties you can earn these days, and the landscape is still changing)
(These categories are in my Sample Budget & Cash Flow Sheet - feel free to make a copy and customize it for your own needs.)
Most people, when they think of producing their own show, immediately think ticket sales are the easiest way to make money. And it could be a very simple way to make money…IF YOU GET PEOPLE TO COME.
This, right here? This is where most of my clients get stuck. Because they suddenly realize they need to market themselves. (cue scary music!)
If people don't know who you are, they won't come. If they don't know where or when the performance is happening, they won't come. If you mention it once three weeks before the event and then never mention it again, they will forget about it and they won't come.
How do you market yourself without feeling icky? Tune in next week to find out.
Are you looking to uplevel your music career?
I work with people at any stage of their careers -- from those just starting music school to indie rockers, artistic directors, and and a whole lot in between.
They all have one thing in common: their careers have hit a ceiling and they are ready to bust through it. Whether their goal is a recording project, an audition, or simply increased visibility, I help musicians take their careers to the next level through one-on-one coaching.
When you set up a 60-minute consultation with me, we will talk about where you are now, what your goals are, and how we can get you from here to there.
