Diversify your income stream.

I often speak with young artists who think that all their income needs to derive from solely selling music. Even the most successful artists don’t do that!

Ever heard of Brittany Spears’ Fantasy perfume, Jay Z’s Rocawear clothing line, or Beats by Dr. Dre? How about Justin Timberlake’s acting career, Natalie Grant’s books, or Sarah McLachlin’s Lilith Fair? All these artists have found additional revenue streams to support their true passion: making music.

While you may not be able to sell your own clothing line, you might be able to teach a course on music performance at your local college, lead worship at a church, or play guitar in a cover band that plays corporate events! Truly, there are plenty of ways to supplement your income if you want to make a living as a full-time musician.

If you need money to record your next album, what about launching a Kickstarter campaign that targets your family, friends, and biggest fans? If you need health insurance, what about working part-time at Starbucks? If you need a consistent paycheck to pay your rent, what about teaching voice lessons, renting out your gear, or writing for other artists? If you truly believe in your dreams, you can find ways to make it work!

For example, while I love producing and mixing artists and bands, I also enjoy teaching. As a result, I proudly serve as an adjunct professor in Anderson University’s Music Business program. I get so much energy pouring into the next generation, and you know what? Those students pour back into me: showing me new music, taking me to new clubs, and giving me insights on new marketing trends.

What about you? What are you good at that can be a secondary revenue stream that empowers you to pursue your primary goals? I’m not saying go get a job at a law firm if your passion if to write, record, and tour! I’m saying think about what you love and find other avenues to profit from your passions.

I’d love to hear from you. If you’ve found ways to supplement your dreams of making a full-time living as an artist, leave a comment and share your journey! Be sure to signup for email updates to stay in the loop on writing better songs, making better music, and living your creative life smarter!