Music Business: Opportunities You Can Pursue
Choosing any career path is a big deal, but deciding to take a shot at the music industry is especially a major step. Working in music requires a lot of commitment, often for not a lot of compensation or recognition. If you’re passionate in music but you can’t see yourself doing anything else, here are some opportunities you can pursue in the music industry:
If you already have experience in a lot of areas, then starting your own consulting business might be an option worth looking at.
A consulting business can be hard to scale because sometimes, consultants came short out of time. But it’s not impossible, there’s a solution to that, you can build training products that solve common problems and sell them to get more leverage on your time. You can also train some experts that can handle clients on your behalf.
- Record Label
Starting your own record label has become significantly easier over the years.
You can actually start a label business for less than cash you may imagine. But the key is you need to be ready to make up for your lack of cash by devoting extra time to the label.
Even if you’re not entrepreneurial, if you’re a prolific musician, there are still certain benefits to starting your own label.
If you have the talent to write music effectively, you can build a business as a songwriter where you sell your songs or offer your businesses to some other musicians.
The nature of songwriting has changed hugely in recent years. These days, it’s not only sitting around in a studio all day writing your own songs, it’s also about attending meetings, sending emails, making phone calls, and updating your social media accounts.
- Voice Coach
For those musical talents who are more focused on singing than on playing instruments, you can also start your business by working with clients as a voice coach.
A voice coach works with a range of people who want to improve their speech, presentation, or singing techniques for professional and personal reasons. They teach techniques to enhance the delivery of singing and speech, and to protect vocal physiology.
- Cover Band Musician
If you want to play music, but not necessarily write your own songs, you could start a cover band that plays other musician’s songs in your community or outside your place.
Actually, cover band musicians nowadays are also releasing their videos online. You can build a website at any platform you may want and include a live video, a picture and your contact info. By taking a look at the above opportunities, it can help you decide which business for music fits you well. As a musician entrepreneur, an important consideration is always whether you have the experience, time, and resources necessary to run a specific type of business.