Becoming a full-time musician is both exciting and terrifying. You will need to consider several factors. Will you have enough money to settle your bills as a musician? Yes, some people get lucky and become a hit almost immediately, but you can’t count that it will work for you the same way. In most cases, going into music full time is a gamble; a calculated one, as a matter of fact. As such, you will want to evaluate yourself honestly and plan well. If you don’t have a big advance or label in place, and that you’re going to do your thing independently, the following are the factors you will need to weigh:
What Is Your Main Source of Income?
Like any other investment, say real estate investment, music needs money and investment capital as well. If you already have a paying gig, then you can confidently leave everything else and concentrate on your music, but if you don’t have, it is a whole different story, as you will need to do your music part time before venturing into it fully. You will also need to be very realistic about the amount of money your music can generate, and this brings as to the next consideration…
Is There Potential to Earn Enough Within Your Locality?
Not every locality will lend itself to supporting musicians. Does your town have enough events and venues to help you earn from your music? Of course, touring can be a great option, but not when there is no tour support. To keep the ball rolling, adequate music establishments should be within your easy reach. If your local town cannot keep you going as a full-time musician, relocating could be an option.
Venturing into music on a full-time basis calls for sacrifice, especially in the initial stages, and we must be realistic here. Will you forgo a new suit or shoe pair and spent that money on your music instead? Will you forgo your sleep to make an extra penny at a night-time event? In a nutshell, many budding musicians opt for low-standard lifestyles, so they can devote their resources to getting started with their music career.