While being a musician involves writing, rehearsing, recording, and performing your music, that makes up about 20% of what needs to get done in order to thrive as a professional musician.
About 80% of your time and effort will need to be spent on your business as a professional musician. This includes marketing and promotion of your brand, gigs, songs/albums, as well as relationship building — you always have to be networking. Don’t forget all of the administrative items involved with booking gigs, booking studio time to record, registering songs to collect royalty payments, working on your website on your own or with a graphic designer, working with a photographer and/or videographer to get quality photos/videos to help create and publish regular social posts, and the list goes on…
Because this list is long and can be overwhelming, not all musicians are motivated enough to succeed as a music entrepreneur, and that’s exactly what being a DIY musician is: being an entrepreneur.
You are a Music Entrepreneur
You are a business owner. You are the CEO of your music brand. This is why it’s helpful to have passion for not only your music but for creative problem solving and a constant desire to want to learn and create new things, not just in music but also in areas of strategy and problem solving for the purpose of your music. This is where having a growth mindset, staying positive, and taking consistent daily action towards your to-do list is crucial to a music entrepreneur’s financial success.
This is why having a home base to work from, such as a music coworking space, is vitally important for your music career. You need a positive and productive environment where you can concentrate to get those daily to-do’s done, so that when it’s time to get on the road and showcase your craft, your music business operation doesn’t break down. Often it’s helpful to have that space outside of your own home or apartment to reduce distractions or if you don’t have the space at home.
Here are some additional benefits about Eleven’s music coworking space
- For those musicians who tend to do everything themselves (solo artists – I’m speaking directly to you) being in a coworking space gets you out of isolation bringing a human touch to your day-to-day routines, which is simply important for humans in general. According to a Harvard Business Review article, 83% of those utilizing coworking spaces report that they are less lonely since joining a coworking space, and 89% report that they are happier since joining a coworking space.
- That same Harvard article brings up another great point about coworking spaces: “Coworking spaces provide excellent business and technology infrastructure, strong networking opportunities, and exposure to innovative companies, products, and services.” In a coworking space you have access to great internet speeds, free printing, a dedicated media studio (in the case of Eleven’s music coworking space) where you can record podcasts, vlogs, and even capture some basic musical ideas. You’ll also have 24/7 access to the space, free beverages, communal space (the Eleven Sound Lounge) where you can work with an Eleven music career coach or meet with the graphic designer who also works in the coworking space to connect on your website updates, and more.
- Connections made in a coworking space often lead to serendipitous entrepreneurial ideas, innovations, partnerships and vital introductions to additional contacts. The music business is a relationship-based business so it’s important to alway be networking. You never know what kinds of great connections will happen when you put yourself in a position to network regularly, especially in a coworking space where you have many other well-connected freelancers and entrepreneurs — everyone knows someone that may lead to an opportunity for you.
According to an article and infographic on Ergonomictrends.com, 82% of respondents they surveyed reported that coworking has expanded their professional networks, and 64% said their coworking networking was an important source of work and business referrals. Additionally, 79% shared that coworking has expanded their social networks.
- Coworking can be great for other professionals in and around the music industry like booking agents or artist managers. This can be useful for the community aspect of a coworking space to help with networking and business referrals, but also when you have an act coming to town. You may need a quiet place to drop in once in town before your gig to record a quick in-town vlog or podcast with the artist. Look no further than Eleven’s day-rate for non-members and you can get access to our media studio to record a promo for your last minute social media push before the show.