I would like to share the importance of why you should invest in yourself, your craft, and more important things that can make you more money
What type of things you should invest in:
1. Learning – Buy eBooks, take online courses, attend events, buy premium tutorials, and more.
2. Equipment – Buy the essential equipment you need to make music. I suggest used music equipment on Craigslist or similar sites. Used gear works just fine and is much cheaper. But if there is equipment that you are missing that can help you to produce better music like a midi keyboard or microphone, invest in them if you can earn back the money to pay for them.
Marketing Tools – Invest in tools and services like web hosting, music selling sites, social tools, and more. These tools are essential to have an online business that earns money.
The 3 categories above when invested in should help to earn more money.
But you don’t want to spend money?
This is not always the case, but free or cheap is not always the best option.
In the past, I have spent many hours looking for free tools and resources on some of the topics above, and from my experience free isn’t always good. There are many things you need to consider like quality, dependability, flexibility, long term vs. short term use, does it meet your standards, does it look or sound professional, and more importantly you need to consider your time.
[highlight]Put your time into consideration.[/highlight] If you value your time, add an hourly rate to your time, because the more time you spend on trying to make something “free” work, the more you are taken away from money making activities.
An example of my time not well spent: When I was attempting to learn to code, I spent many weeks searching the web for free tutorials. Some tutorials were good, but only partially explained information, which left me confused and searching the web for more info. It took me months to learn to code CSS.
But then I paid for a lynda.com account and their video tutorials showed me to code a website from scratch in a few days.
I could have saved myself so many hours.
Invest in Things That Will Make You Money
"It takes money to make money"
This statement true.
I spend around $200 a month on Hip Hop Makers for Bluehost hosting, MailChimp email services, Clicky Analytics, theme transaction fees, and more. [highlight]But what I make is 20 times that amount each month[/highlight].
But I wouldn’t be able to get to that amount of income without paying for the needed tools and services I use.
Here is an example of people not seeing the potential income that could be made.
Do the math
- A website host on average cost $7.99 a month.
- The typical person spends $8 to $14 a day on fast food.
Once again, because people value things differently, it’s easy to spend money on things like fast food without thinking about it.
But if you invested in marketing tools like a website, what you make can far exceed what you spend. Especially if you are selling digital products like beats. All you have to do is sell one beat to cover your cost and then everything else you sell is profit.
So imagine if you sold 20 beats a month. Is that $7.99 hosting fee a lot then? No, because you realize certain tools are well worth it when they help you make more money.
So I hope this post has opened you up to the idea of investing in yourself and your craft.
Never stop learning and always look for new opportunities in growth.