FEM156 Why A Self Employed Musician Needs Multiple Streams of Income

self employed musician

As a self employed musician, it’s crucial to have different streams of income. In this podcast, you’ll learn why it’s smart to diversify.

It’s important for a self employed musician to diversify their income streams and not depend on one particular source of cash flow. Employing  a combination of things such as performing live, live streaming and online sales not only increases revenue, but also allows a consistent flow of cash. Having 5 to 6 income streams coming in can make for a comfortable living. The Profitable Musician Summit is all about different income streams, how to implement them and how to grow them to increase your revenue. Reserve your ticket today so you can hear the rest of the Summit or upgrade now for lifetime access to all interviews.

self employed musician

Income is seasonal: Especially With Live Venues

  • Seasonal changes in local population
  • Performing more during specific holidays
  • Library performances for school-age children (summer)
  • Preschool and younger (all year)

Markets Change

  • Downloads are going away, can’t rely on itunes
  • Live Streaming Music (Spotify, Amazon, Pandora)
  • Venues close
  • Performing online

Self Employed Musician with Health Challenges & Life Situations

  • Need time to care for yourself or others
  • Healing from injuries
  • Dealing with chronic illness
  • When flexibility is necessary

Increasing the diversity in income streams or increasing each income stream by a small amount can make a big difference in a bank account, especially if there are multiple flows coming in at once. Join the Profitable Musician Summit to learn which cash flows are right for you and how to use them in your musician business so that you can increase your yearly income. For lifetime access, upgrade your free pass now. 

self employed musician

Resources

Email your questions for Bree to answer on the show: Bree@FEMusician.com
Leave your audio questions for Bree to play on the air and answer (you can promote yourself too): SpeakPipe
Subscribe to the show on iTunes
Give us a review on iTunes
Listen on Soundcloud
Show Editing by Jen Edds at 317 Sound Design
Music by Stella Ronson

ABOUT HOST BREE NOBLE

Bree Noble Female Entrepreneur MusicianBree Noble is an entrepreneur, musician and speaker. She founded Women of Substance Radio, an online radio station that promotes quality female artists in all genres, in 2007.  She launched the Women of Substance Music Podcast in November 2014, a 5 day per week show which promotes Independent female artists. Her podcast has hit #1 in New & Noteworthy for the Music, Arts and Society & Culture categories and #4 Audio Podcast on all of iTunes. She draws on her extensive experience running her own music business, both as a solo musician and as an Industry professional, to train and mentor other female musicians. Learn more about the station, the show and the artists atwww.wosradio.com. Connect with Bree on Twitter @BreeNoble or on Facebook or on Instagram @breenoblemusic

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