Are you a musician or do you know one and wonder “how come we’re always broke”???
Perhaps you’re tempted to quit pursuing music because, if you can’t make a living from it, why bother?
In this article, I want to answer this question: “how come musicians are always broke and what can we do about it?”
The answer lies in one simple concept. Before I explain, you need to understand something.
An asset is something that puts money in your pocket. A liability is something that takes money out of it.
And for most musicians, doing what we love has become a massive liability. To change the “broke musician” stereotype, your mission is simple: turn your music into an asset.
Therein lies the solution to all our problems.
We don’t know how to turn our music into an asset.
So how can you do it?
With most artists, our problem isn’t that people don’t like our music, it’s that we don’t have infrastructure set up to easily allow those people to pay us. And money is only coming out of your pocket instead of being placed back into it by the people who value what we’re doing.
And that’s why most of us are broke.
In addition, we spend money on things that don’t contribute to our goals. I’m talking about stupid purchases. Purchases that keep us from investing in infrastructure that will turn our music into an asset and that keeps us going to our jobs to earn income instead of our music.
There’s nothing wrong with that, if you’re happy.
But if you want to play music full time, you’ve gotta make some changes with how you invest your money. And invest it on building assets instead of spending it on liabilities.
If you perform music live and want to know some easy ways to earn dependable income from those live performances (aka, infrastructure), I have a PDF showing exactly what I do at every gig to earn income.
The’re things you can do right away even if you’re not making money from your music yet.
What do you think?
What would happen if you created assets that you owned and controlled and had the infrastructure to easily allow people to pay you? What would change?
Let me know in the comments below.