During the past couple of weeks, we have spent a lot of time
talking about ways for musicians to make money in an industry where, in its
current state, musicians are expected to give A LOT away for free. Maybe you’ve
already adopted some of these strategies or you’re starting now, but in either
case, you need to think about what to do with the money once you get it. (HINT:
stretch limo with snowmaking machine and half-pipe should be at the bottom of
your list, and stay there…pretty much forever). Generally speaking, you need to
treat your music career like a business, especially when you have money coming
in. This means budgeting, saving, and the use of spreadsheets for some light
accounting work. If you really, really hate the idea of this, do it anyway and
write “Hire Accountant” somewhere in your budget.
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