You love music, and you’re seriously thinking about turning that love into a business of your own. This might seem rather overwhelming, and maybe you’re wondering if it’s even possible. It most definitely is. If you follow a logical plan, you can create a business you’ll enjoy even as you pursue your passion for music. Read on to learn how.
Find Your Niche
Your first step is to find just the right niche to help you turn your love of music into a business. Perhaps you’re a musician. In that case, you might give lessons, start playing gigs or both. If that doesn’t seem quite right, maybe owning a music store or selling music-inspired products online would be a better fit. You could even become a music blogger, a marketing expert for a music company, a music critic or a music therapist. Just choose something that you’ll love to do long term and that matches your skill set.
Establish Your Business
When you’ve determined your niche, you’ll have to establish your business. This might be as simple as starting a blog or setting up a spot in your home to give lessons. If you plan on selling products online or in a store, however, you’ll need to do a bit more work. Research the legalities of starting a small business to make sure that you’ve got details like registration with the state and taxes covered. Write up a business plan and a start-up budget, too. You might invest in convenient music store POS software to help you keep track of your inventory and customers. No matter what business you choose, you’ll have to pay close attention to this phase, for you’ll want to get a smooth start and not run into unpleasant surprises later on.
Do Some Marketing
With your business established, you’ll need some clients or customers, so do some marketing. Start by setting up a website and social media pages to let people know that you’re up and running. Make sure that your website is easy to navigate and secure, especially if you’ll be doing any online sales. Keep your social media pages up-to-date, too. If, for instance, you’re playing gigs, advertise those on all your pages to draw a big audience to cheer you own. If you’re looking for music students, offer a discount to those who find your website or social media pages. You might also consider taking out ads in your local newspaper or hanging up some posters around your city. Don’t neglect word of mouth either. Have your friends and relatives tell others about your new business.
Get Creative
Considering your love for music, you’re probably a very creative person, so use that creativity in your business. If you’re a musician looking for gigs or students, record a brief video to post online that combines some of your own music with a message to draw people in. If you’re a music blogger, update your blog regularly with interesting material. Review new releases, but also interview local musicians, and attempt to get behind the scenes of the music world to let readers in on what it takes to create and record their favorite songs. Your blog will surely receive a lot of hits, and if you monetize smartly, you could earn a nice profit.
Consider Customer Loyalty
Finally, don’t overlook customer loyalty after you’ve established your music business. You want to keep clients and customers coming back. Start by always giving good service and good value. If you’re in the music store business, offer sales, special discounts and even a customer loyalty program. If you’re giving lessons, keep rates reasonable to attract a wide variety of students. Always communicate well, and handle problems fairly.
You can turn your love for music into a wonderful business and even a full-time career if you make the effort to find your niche, establish your business well, market efficiently, get creative and keep your customers coming back. So get started pursuing your dream.