By: Sacha Walton, Business Strategist, CEO of SWI Management Group.

For independent music artists, being successful means more than just creating and sharing your music—it’s also about learning how to be an entrepreneur. Having a creative vision is an essential component of being a successful artist, but developing a sound business acumen is key to keeping your music career thriving.

It’s important to start thinking of yourself as a brand and entrepreneur—after all, you’re selling yourself and your music. You are the service provider, and the music is the product. When it comes to developing your entrepreneurial mindset, the focus should be on becoming a valuable commodity.

Whether you are working with a team or producing all your music on your own, thinking like an entrepreneur can open doors to success. To have a successful career in music, you must understand the power of business. Having a clear understanding of what makes you stand out from other musicians is essential for building your fan base. This could be anything from a signature sound or genre, to something unique about your look and feel.

“An educated artist creates leverage” – Sacha Walton

Beyond The Music: A Music Artist Entrepreneurship Guide

Independent music artists have an advantage in today’s music industry. Without a label dictating the release schedule — or telling them what kind of music they should make — they have a great deal of control over their own success. To take advantage of this freedom, however, independent music artists must start thinking like entrepreneurs, and approach their music careers with a business mindset.

Here are some action steps to help you make it happen:

1. Have a goal: As an independent music artist, you should always be aiming to achieve something, whether it be a short- or long-term goal. Decide on your end goal, then create a detailed plan of action on how you will get there.

2. Embrace the hustle: No matter how talented you are, nothing will come to you without hard work. Establish a disciplined work routine to help keep yourself accountable and reach your goals faster.

3. Utilize networking: Networking is key for any entrepreneur — and especially independent music artists. Reach out to other musicians and industry contacts to build meaningful relationships, collaborations, and make mutually beneficial connections.

4. Make use of social media: Leverage social media to create more awareness and visibility for your music. Consistently share your content, and be sure to engage with your followers. That is a great way to learn what type of content they respond to best.

5. Market research: Research your target audience and how to market to them. Plan out promotional tactics with an organized and clearly thought-out strategy. This will allow you to better compete with signed artists.

6. Education: Independent artists can also invest in their music career by taking online classes, attending industry events and workshops, or reading up on business tactics. The more knowledgeable independent artists become about the business side of the music industry, the better prepared they’ll be to run their own businesses.

7. Analysis: Staying on top of music and business trends is also key to staying competitive. Studying analytics and developing new strategies is critical to growing your brand and staying ahead of the competition.

8. Diversify your income streams: An entrepreneur looks for ways to make money outside of their main income source. Establish a budget, and always look for additional ways to make money off of your music, such as merchandise, crowdfunding, or even sponsorship deals.

By following these steps and adopting an entrepreneurial mindset, you can take your independent music career to the next level. Having the right attitude is paramount; this means looking at failure as an opportunity to grow, and learning to enjoy the process.

Don’t be afraid to take risks. Take charge of your career and you’ll soon reap the rewards.

“The Foundation of the music industry is built on various business practices.” – Sacha Walton

Beyond The Music: A Music Artist Entrepreneurship Guide