In today’s fast-paced entrepreneurial world, all of us are working hard, grinding, and hustling to attain success. And just like an entrepreneur at the kick start, we are wearing many different hats to make ends meet. We have to establish a brand, write our songs, perform the music, record it. Then market it, sell it, track it, create connections, thrive in a community, and the list is endless.
So if we start thinking that being a musician is not just about making music anymore – rather it is about many more things, then only can we start thinking about having a bigger slice of the cake.
Things Artists Can Learn From Entrepreneurs
There are several things artists can learn from entrepreneurs to better navigate their careers and achieve success. Here are ten essential lessons:
1. Understand Bootstrapping Your Way to Success
It is completely fine to bootstrap your way towards success. You don’t have to give up your soul and equity to an investor in order to gain fame. Having a great voice, amazing music, a strong will, a lot of time, and energy will help you make it through.
2. Determine Your Specialization
Whenever an entrepreneur thinks of bringing an idea into existence, 100% of the time, he goes with something he is an expert in. So based on your capability, focus your attention on something you are good at, whether a specific genre, an instrument, etc.
3. Get Creative with Marketing
One thing entrepreneurs are really good at is getting creative with marketing. They create an intensive 360 plan to reach out to their audience – through podcasts, Facebook, Instagram, Twitter, streaming services, YouTube, public events, blogs, Vlogs, and much more. Having a creative strategy is essential for your business.
4. Build a Strong Foundation
Your time, your efforts, your team, your connections, your rules—these are things that you should be very critical about. This is what will help your business take off successfully.
5. Treat Fans Like Friends
Your fans are your friends. An entrepreneur makes sure that his clients are happy, feeling appreciated, and valued. Likewise, you should make your fans feel valued and appreciated. You can assure that by constantly engaging with them, involving them in your music decisions through social media, personally in events, or any other suitable means.
6. Do Not Stagnate
In the age of technology, everything is moving pretty fast. So make sure you always offer something new. Don’t leave your fans listening to old songs over and over for a long time.
7. Reduce Redundant Procedures
One good thing about working in small teams is that the decision-making process is always faster. This will reduce the chances of your music being leaked before release because of the lengthy decision-making procedures.
8. Expect Criticism
We as artists tend to be emotionally amiable, hence we hate being criticized. But we must learn to take constructive criticisms and let go of the negative ones with good morals.
9. Have a Mentor
A mentor can be a friend who is able to offer some good advice on business matters or any other valuable guidance required.
10. Be Risky with Your Ideas
And last but not least, entrepreneurs always take calculated risks. Some will sting but some will pay off really big and have a huge impact on your business.
Expanding on the Key Lessons
To further understand these things artists can learn from entrepreneurs, let’s dive deeper into each point with more insights and examples.
Bootstrapping: The Power of Independence
Many successful entrepreneurs started their journeys without external funding. Similarly, artists can leverage their talents and resources to create impactful music. Bootstrapping allows for more creative control and independence. For instance, Chance the Rapper famously turned down record deals to maintain control over his music, and he achieved immense success through independent releases.
Specialization: Finding Your Niche
Finding a niche can set you apart in the crowded music industry. Specializing in a particular genre or instrument can help you build a loyal fan base. For example, Lindsey Stirling, a violinist who combines classical music with electronic dance music (EDM), has carved out a unique niche that distinguishes her from other artists.
Creative Marketing: Engaging Your Audience
Effective marketing is crucial for reaching and engaging your audience. Utilize various platforms to share your story and connect with fans. Social media, streaming services, and video content are powerful tools. A well-rounded marketing strategy includes regular updates, behind-the-scenes content, live Q&A sessions, and interactive posts to keep your audience engaged.
Building a Strong Foundation: The Pillars of Success
Your foundation includes your team, network, and personal dedication. Surround yourself with a supportive team that shares your vision. Building strong connections within the industry can open doors to collaborations and opportunities. Dedication to your craft and continuous improvement are vital for long-term success.
Treating Fans Like Friends: Building Loyalty
Engage with your fans genuinely and consistently. Show appreciation through shout-outs, personalized messages, and exclusive content. Organize meet-and-greet events, virtual concerts, and fan contests to strengthen your bond. Happy fans are more likely to support your music and spread the word.
Innovation: Keeping Your Music Fresh
Stay updated with industry trends and continuously innovate your music. Experiment with new sounds, collaborations, and production techniques. This not only keeps your existing fans excited but also attracts new listeners. Innovation is key to staying relevant in the ever-evolving music landscape.
Efficient Processes: Streamlining Decisions
A streamlined decision-making process allows for quicker execution of ideas. Minimize bureaucratic delays and focus on agile workflows. This ensures timely releases and reduces the risk of leaks. Efficiency in production and distribution can significantly enhance your career’s momentum.
Embracing Criticism: Growing Through Feedback
Constructive criticism can be a valuable tool for growth. Learn to differentiate between helpful feedback and unnecessary negativity. Use constructive criticism to refine your music and improve your skills. A thick skin and a positive attitude towards feedback can accelerate your development as an artist.
Mentorship: Learning from Experience
Having a mentor provides guidance and insights that can help you navigate the complexities of the music industry. A mentor can offer valuable advice, share their experiences, and help you avoid common pitfalls. Seek out mentors who have a track record of success and are willing to invest in your growth.
Calculated Risks: Bold Moves for Big Gains
Taking calculated risks can lead to significant rewards. Whether it’s experimenting with a new sound, collaborating with an unexpected artist, or launching a unique marketing campaign, bold moves can set you apart. Evaluate the potential benefits and downsides before taking risks, and learn from the outcomes.
Conclusion
Adopting an entrepreneurial mindset opens up a world of possibilities for artists. By learning from entrepreneurs, artists can enhance their careers, build stronger connections with fans, and achieve long-term success. These things artists can learn from entrepreneurs are not just theoretical; they are practical strategies that can be implemented to elevate your music career.
Finally, having an entrepreneurial mindset will help you open up a whole new world of possibilities for getting the spotlight on your music. So get on your feet, start learning, explore what is good for you and your audience, and rock it.
Deliver My Tune is one of the most trusted aggregators helping artists to take their music to online channels. As the world is evolving, so is the future of music. Technology has joined hands with music to give us some memorable and unique experiences for the upcoming years.
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For additional resources on music marketing and distribution, visit Deliver My Tune.