As with any career, the more experience you have, the more money you will be able to make. If you are in a particular field that serves a particular need, then the more people you are able to serve or the more people you are able to benefit, the more money you will be able to make. These principles apply not only to other vocational careers but also to the music industry just as well. The greater the level of demand there is for the product or service that you are offering, the more money you will be able to make. Similarly, the greater the level of demand there is for your particular genre or style of music, then the more money you will have the potential to earn.
So the question arises as to how exactly can you command top dollar for your talent. Why is it that some individuals or bands experience the good fortune of becoming instant overnight sensations after having been “discovered” by some well-connected talent scout, whereas there are others on the opposite end of the spectrum who must struggle their entire lives in order to make ends meet, despite their passion for performance? Is it luck? Is it fate or destiny? Is it about being in the right place at the right time? Is it all about “who you know” being more important than “what you know”?
While the aforementioned can help propel some lucky few people to the top, the rest of us will need to work hard in order to achieve the success we dream about and thus be able to command top dollar for our talent. Here are some tips and advice on how to maximize your financial income as a musical artist:
1. The first thing you must absolutely do is adopt a mindset that is conducive to success. You have to believe in yourself. You have to be optimistic. Your choice of words must be conducive to success. You must engage in positive self-talk and positive self-affirmations on a daily basis. You must be self-confident. You must believe that you are a talented musician and that you are worthy of making the big bucks. Believe it or not, attitude and mindset have a great deal to do with your success. As the saying goes, success is ninety percent inspiration and only ten percent perspiration.
2. Never short change yourself. Never underestimate your true worth. Never settle for less than the best. This is the corollary to the success mindset as described above. You need to have positive self-esteem, immutably rock solid self-confidence, and a recognition of your true worth. You also need to realize that if those who were able to achieve success were able to do it, so can you. You have the same shot as anybody else to become successful and earn the big bucks. The minute you start doubting yourself, you will be setting yourself up for failure. Listening to that little voice of self-doubt inside your head is what holds people back from achieving their dreams.
3. If you want to command top dollar, then it is important that you don’t just settle for whatever menial gig you might get. You should be willing to walk away from and say no to a gig if it doesn’t pay you what you are worth. Never come across as desperate. Learn to master the art of negotiation when it comes to coming to terms with a prospective employer, producer, or customer for how much compensation you expect to earn for your musical performances. Of course if you are a “starving artist”, and you are looking to put food on the table, then you may be compelled by necessity to take whatever gig you can get, and you may not feel inclined to negotiate, and will settle for whatever earnings you are able to receive. But in doing so, you cannot expect to command top dollar for your talents.
4. Do recognize the fact that you will inevitably experience setbacks on your road to success. Get used to it. Success is a numbers game. Get used to rejection when pursuing musical opportunities. Every rejection you receive when auditioning for a musical role or when seeking out a music producer brings you one step closer to a yes.
5. Do recognize the fact that success doesn’t come overnight. It takes a lot of hard work and dedication. Making big bucks with music is not by any means considered “easy money”. You have to strive for perfection. You also need to realize that the ladder of success must be climbed one rung at a time.
6. This also requires you to be realistic. You cannot expect to just become a millionaire overnight. You need to have a plan of action, a course of action that you can chart your progress and measure your success against. You will need to set achievable milestones on your way to achieving your ultimate goal,whatever that may be.
7. This also means that you need to take a hard look and ask yourself to clearly define what does “success” mean? What is a realistic figure you hope to achieve in your musical career? What would you be content with? What dollar amount would make you feel satisfied that you have achieved your monetary goals in life?
8. One practical measure you can take in order to achieve financial success is to gain as much exposure as you can. The more fans you have, the more people who are aware of you and your music, the more potential you will have to turn these fans into paying customers. These days, rather than holding out hope that a big name music producer will sign you on with their company, you can take matters into your own hands and promote yourself for free through social media such as Facebook, Twitter, and Youtube. Social media has proven to be an extremely powerful tool for self-promotion. And it is something that you has an individual artist or as a musical band absolutely must learn how to leverage effectively if you have any hopes of being success.
Remember that success doesn’t just “happen”. You have to make it happen. You are marketing a product: your musical talent. And marketing is all about getting in front of people, people who are willing to pay to listen to your music. So if you want to achieve financial success and command top dollar for your talents, you need to work hard and do whatever it takes to maximize your exposure, harbor a successful mindset, and be persistent in the wake of setbacks and failures.