Godfrey Mansell and Co are specialists in representing Musicians and their Financial Affairs but we looked into just how hard it’s out there for Musicians today. Hannah Davies of the GM Liaison team explains during this Blog
Being a contract musician is harder than it’s , with so called ‘sleeping within the back of vans’ to busking to undertake and obtain more cashflow. in any case the diligence and practice, you continue to need to believe bookkeeping, accounts, and taxes! Below are 5 tips which will offer you a push within the right direction to vary your musical hobby into a successful career.
1.Make It Professional.
If you would like this to figure , it must be professional. Not just something you are trying and do once every week and hope that you simply will eventually make money from it. you’ll got to do things properly to possess a smoother ride to success; Make a business checking account to stay your personal funds break away your professional ones (this also helps with ensuring you don’t read your own savings when things get tough unless necessary)
When making a business checking account , you’ll have already considered establishing your business with companies house right? believe your branding, your business name, and the way you would like people to ascertain you and your music within the industry. Let the audience have an honest view of your business and keep your brand alive and known during a good light. You wouldn’t lie around the instrument you’re playing, so why lie around your business matters including your accounts.
3.Make An Idea.
It doesn’t matter what business you’re in, you ought to always be making an idea to form sure you spend your money wisely. Sometimes it’s an honest idea to urge some advice before investing in an asset e.g. a replacement guitar , or before hiring a manager.