Treating Songwriting as a Business

To many artistes, thinking of their art in a business sense is not something they care to do. Many of these get really lucky, though, and manage to find an audience for their work, just because they are so wholeheartedly into and enjoying making it. If you are in this group, great! Consider yourself blessed. The rest of us, though, often take a while to find a writing style that we really can get our musical teeth into and enjoy some success at. This is why it is best, at first, if you are having trouble thinking of music as work, you should start treating it as work just so you can start taking it, and yourself, more seriously. If you can't get into the role of songwriter, here are a few ways to persuade yourself that you should, if for no other reason that you want to see your business succeed.

WHAT WAS YOUR INITIAL INVESTMENT?

If you have been keeping accurate records for your taxes, this should be easy-just look at your first year's expenses, and see if you broke even or not. Chances are, if you count up everything you spent money on, no, you are still in the red and sinking fast. What have you spent money on since? Do you have a pile of equipment that is actually used, or is it just a dust-covered fixture in a corner of your music area? Be honest, and see what you are using, and what you aren't. If you haven't touched it in years, it isn't making you any money, and perhaps you should consider finding it a home where it will see some use. If you really want to keep those items, though, sit and figure out some ways in which you can make all those little goodies make at least their initial investments back for you. Ideally, you should make enough money to keep yourself in tapes or discs and guitar strings or paper, pencils and music magazines. If you aren't, you might also figure out ways in which you can pare down your expenditures so you aren't just continually throwing money down a bottomless pit.

DO MORE OF WHAT YOU'RE DOING RIGHT

True, most songwriters never make a dime, but that doesn't mean you have to be one of them. Are you at a break-even point, yet? If not, in what ways have you been able to create some sort of income as a musician? Playing for tips, drinks or food is just one way many musicians get by, but other good methods would be giving lessons, selling your homemade tapes at gigs, or writing columns like this one. Working as an extra in music videos in your area is another great music-related way you can earn a few dollars, and still counts under the same tax heading. Some volunteer positions for some music events may give cash payments for services rendered, as well as free entry into the event. Anything that has worked for you, or is along the lines of these ideas all could give you a chance to start earning back some of that money you have already spent, and give you some valuable chances to network and market your music and songwriting. Barter your services where possible, and keep track of what everything was worth-this all looks good on your taxes, too, and shows that you are serious, and are at least breaking even by earning your studio time by playing on some other person's demo or working behind the bar until you make the money you need to rent the venue for a gig of your own. Enter more contests if that is working for you, and you are consistently making finals and winning small prizes-it's all income, and counts, so count it!

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