This is where the Fun Starts! Well, sort of. There are many different things out there that you can do to expand your income sources, once your email list is nice & healthy. As a music producer, I'm sure that you're a person of many talents. From composing, all the way to who knows what. You've learned how to apply many techniques to your first business, now it's all about those techniques in order to create more income for you to invest back into yourself.
Where to Start
You'll start with what & who you already know. You're a music producer. I'm sure you know how to mix (right?) . Use that to as your starting point. Offer your engineering services in addition to your beats. Do this in such a way that ADDS VALUE to the overall experience for the customer. For example, you could offer a free mix & master in addition to purchased beats (or vice versa). Doing this adds value to your core product (at the perfect time), while also still allowing each to be an independent product on it's own.
Build Upon That
Are you recording your artists yet? If not, it's time to start thinking about that also. There was once a time where you needed to sacrifice one of your limbs & drain your life savings to be able to afford a decent set up. That's not true in today's home recording era. You can get a decent mic & pre amp for under $300. Blend the knowledge you've gained from composing & get your hand into this aspect of the game. Again, our goal is to always add value of some sort to our core product (beats). This definitely does so while also getting you super targeted leads to market to later on, at any time.
If you don't have a set up already but are planning on getting one, be sure that the pre amp you choose is capable of recording audio at 192 Hz Which is the recording quality that the pros use to get that studio finish.
This one is for a bit later on down the line. Once you've built your website & it's getting consistent traffic, you can allow other website owners & advertisers to rent ad space. This benefits you because you're being paid for your passive traffic. It helps them because of the cross promotion aspect of it all. Their potential customers are able to trust them a bit more because you're essentially vouching for them by allowing their ads on your site. Keep in mind that you should always ONLY allow advertisers that you know offer great products & services. You don't want to vouch someone else's product, only for it to turn out terrible. A good rule of thumb is to only allow advertisements from sites, products or services that you've used yourself before, that way you'll know your site visitors are in good hands when they leave your site. After all, you did recommend them & that could tarnish your site's reputation in the long run.You could go in the opposite route & pay a more popular site to promote your beats for you on their site. Be advised that Advertising is a very rocky road & you may not see the money that you put into it right away.
Hang out where your customers & peers hang out. Local artist showcase? Be There! Big time artist having a concert? Be There! You have to get out & brush shoulders with people. The internet is a great place to interact with people when you don't have the option of personally interacting. When you do have that option however, take it. You never know who you might run into. (hope you have some business cards handy).
Getting yourself a mobile app in the Play Store or in the App Store can prove to be quite rewarding. This is a great way to get targeted traffic that you don't even have to go & look for it. It comes to you!
Custom graphic t-shirts are a great way to generate some passive income. There are sites out there that will partner with you in order to help bring your t-shirt designs to life. Companies such as Zazzle will deal with manufacturing, shipping & up front cost for producing the items. All you'll have to do is create great items & promote them properly!
The Rap Up
While many of these ideas are great ways to generate additional income sources for your business, it is important that you do not sacrifice the image of your company in the midst of it all. Utilize these options only if you're able to add value to your brand by doing so. PLEASE DO NOT RUSH through any of the things that we've covered in Parts 1-5 in an attempt to 'speed up the money'. Take your time & get EVERYTHING set up the right way & follow through on your marketing, promotion & other business aspects so that your first impression is golden to your customers. Remember, it takes a lot of hard work, dedication, education, planning, trial, error & execution to carve out a groove for yourself. These things take time to manifest, be patient, do your part & trust your journey. I Believe in You!
Thank You for Joining Me I Look Forward to Seeing You Grow!