I ran across this on the MusicConsultant.com website. Great points if you want to make a living as a songwriter and musician in Nashville.
Build a solid business foundation.
Figure out how money is made in this industry and how publishing works. Register with ASCAP, BMI or SESAC and SoundExchange. Make sure you have a business entity established and trademark your name.
Get your marketing materials in order.
You’re going to need at least a 4-song recording (and one that requires no apologies), a well-written bio, a logo, a professional photo and a video of you performing live (for an actual crowd). You’ll also need vanity URLs on social networks, a website and to make sure all your digital real estate is interconnected.
Set yourself up for the long haul.
You need to engage in long-term planning if you want to work as a musician. Most “normal” businesses are not in the black for three, to five years, so why should a music business be any different? If you are truly in this for life, you should be investing in your business in a way that ensures you are set up to play and record music and get it to people at a moment’s notice over an extended period of time. This could mean building a home studio and getting a P.A. and a van. The point is, you’re going to have to plan multiple releases over a number of years and be prepared to play countless gigs. And you’re going to need to know how to accomplish this as cheaply and easily as possible. Don’t blow all your money on your first release, expecting it will propel you instantly to financial stability. Plan on truly playing and recording music on an on-going basis.
Build a community and diversify.
The music, the money and “the hang” (who you seek out as collaborators and the other musicians with whom you surround yourself on a regular basis) determines which gigs you should take, even if they divert you from your original work – sideman work, apprenticeships, etc. Remember, even Hendrix was a sideman.
Think about B2C and B2B.
It is also important to consider that everyone is talking about direct-to-fan in the digital age – an obvious, unfiltered Business to Consumer strategy (B2C). As they are building their communities, I’m of the opinion that many fledgling artists should also pursue Business to Business (B2B) relationships with like-minded artists. If you convince one band with a 50-person mailing list in another town that you are worth a damn, you can get your music in front of those people and start to break a new market if you’re willing to do the same promotion for them on a gig trade.