In the world of business, MRR (Monthly Recurring Revenue) is a hot topic. It is the consistent income that streams into a company every month, providing stability and growth. But what if I told you that as a full-time musician, you can apply a similar concept to your gigging life? Let's dive in!
🎶 Your Gigging Business Model: Imagine you're playing 4 gigs a week at $300 each. That's $1,200 a week, $4,800 a month, and around $60,000 a year. Not bad, right? But to make this a reality, consider the term I coin, your "Sweet 16."
🎤 Sweet 16: Your "Sweet 16" is a group of 16 unique venues or events where you perform each month (4 times a week). Your goal is to lock in these regular spots, creating a reliable monthly income.
💡 Here's How to Do It:
Diversify Your Sweet 16: Include a mix of venues, events, and audiences. This provides variety and hedges against the risk of any single gig falling through.
Establish Residencies: Monthly residencies can be gold mines, especially if they pay $400+ for solo. Venues love regular acts, and patrons become your loyal fanbase. It's a win-win.
Set Your Minimums: Calculate what you need from each gig to sustain your life as a full-time musician. Use this as your baseline, as well as your talent level, when negotiating with venues.
Network & Hustle: Don't be afraid to reach out to venues, promoters, and fellow musicians. Connections can open doors to your Sweet 16. DM me “Sweet 16” if you’d like to get set up with our AI booking agent. It will find you info for all the places that do live music in any city in the world, and reach out to them out autopilot EVERY 7 days.
Market Yourself: Use social media (FB messenger works great), local listings, and your website to promote your gigs. The more people know about your performances, the better your chances of getting booked regularly.
🌟 Why the Sweet 16? It's about creating a reliable source of income, building a strong reputation, and having a balance between consistency and variety in your music career.
Remember, just like in business, consistency and relationships matter. Your Sweet 16 is your path to making your musical dreams a reality. 🎶📈✨