Need to fund a music project? Today we’re exploring 5 ways that you can do that, so keep on reading. It’s a fact that artistic individuals are often not the most business-minded or financially inclined.
There are, however, a few ways a musically talented person can kick start their music project without charity. All you need is a little creativity and determination.
Technology has opened the doors of infinite possibilities where we can stream and sell music straight from our bedrooms with nothing but our phones.
Here are 5 ways to fund music projects
1. Stream Online
Platforms like Facebook and Youtube allow users to do live shows using their live feature. Other social media platforms such as Bigo Live or Facecast will let your viewers shower you with tokens and gifts if they like your performance. These tokens can easily be changed into real-world money. If you reach a certain number of fans and views on Youtube, you will also be able to start making money.
2. Get a Gig or Busk
It might sound like a no-brainer, but if you’re able to get yourself booked for events, you can earn money to fund your project. You will also be able to network. Who knows, maybe it will lead to meeting a potential collaborator or even a talent scout. The more you put yourself out there, the more people know who you are and that’s helpful when you need a boost in your career.
If you’re going to busk instead, make sure you get the appropriate licenses and learn the rules of busking before breaking out the guitar and strumming outside a library. While it’s not against the law to sing wherever you want, you could be breaking the law when you set up a donation box.
3. Sell Your Merchandise
You don’t have to be big in order to have some merch and fund your music project. Even if you’re a small-time singer, it could help you with branding if you sell caps, shirts, and CDs on a website or while you busk. That way, people will feel more obliged to step forward and put a few dollars in your donation box, because they are making a purchase.
4. Find a Side Hustle
Usually side hustles are passion projects and people work on them outside their office hours. But, when you’re chasing your dream, let your side hustle pay your bills. It can be driving an Uber or making cheese crafts. As long as it pays the bills, it’s worth continuing until your main gig can start paying for itself. Think of it as a crutch; once your leg is all healed up, you can throw it away and start to show the world what you can do on the stage.
5. Borrow Money
Finally, there is also the option of borrowing money to fund a music project. You can take out long-term personal loans or ask your family and friends for a bit of money. This option might leave you in a bit of debt, so make sure you stay smart with your finances and don’t get carried away. To maintain good relations and a great credit score, always remember to pay on time.
Do you agree with these ways to fund a music project? Leave a comment below and let us know what you think.
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