Why Building Passive Income as Audio Artists in times of Covid-19 is more important than ever

Right now, I actually can't count how many messages and posts of musicians, music teachers, and other audio artists I've read who are currently not able to work due to canceled lessons, live gigs, or other problems caused by Covid-19.

Of course, it is not that easy to simply switch to playing "online gigs." However, to me, this entire situation is yet another reason and proof of why it is essential to start building passive income, strengthen your social media appearance, and looking for smart solutions to be financially independent.

In this article, I want to spread some inspiration and input on how to start working on this.

 

Be everywhere

So far, I've read too many questions asking about what social network would make the most sense to be on, and my answer would always be the same: Every single of them!

Why? It will all make perfect sense, the more you will read along.

 

Webinars

If you are a self-employed music teacher and you have, for example, problems giving music classes, there are many options to switch over to online mode and start teaching it via webinars.

Services like Zoom enable you to host an online session for several people at once. You can even set up a payment gateway so all your students pay upfront via PayPal and are then allowed to participate in your lesson.

You could even set up a private YouTube live stream and invite your students with an invite link. To make the best out of your stream, download Streamlabs OBS, and set up a great experience for your students.

I did a little video on showing how Streamlabs OBS (or SLOBS) works:

 

Courses

Did you ever think about setting up an online course? In times like these, an online course would be a perfect solution to sustain your income.

It takes a bit of time and planning, but once you set up your online course, the chances are great that it could become a source of steady income.

Also, please consider the fact that as a human being, you have a limited amount of time and capacity per week. With building an online course, you literally could have thousands of students at the same time.

In case you got this nagging thought coming up, telling you that there are so many online courses out there and that it wouldn't be worth it, keep in mind that you not just destroyed an enormous opportunity, but that everyone out there isn't like you.

Keep in mind that it does not just matter what you are teaching, but also who and how you are teaching it.

If, for example, basic music theory itself would matter, technically we could have stopped doing it 50-70 years ago.

There are many platforms out there to build courses such as Teachable, Thinkific, and Kajabi. The last one is probably the king of course platforms, enabling you not just to host beautiful looking courses, but also providing you with a website builder, a blog platform, lots of individual landing pages and an email service provider. 

 

Patreon

Patreon is an excellent opportunity to have monthly support. In return, you deliver information, helpful advice or other (digital) goods to your patrons.

The most powerful feature of Patreon is to set up several tiers or levels. You could, for example, set up three tiers of basic, advanced, or expert piano lessons and charge differently for each of them.

As a personal example, I set up my Patreon account roughly two weeks ago (from writing this article) and recently passed 200,00 USD per month.

 

Skillshare Lectures

Imagine having some sort of a YouTube channel but getting paid a fair price for your watch hours.

People pay a membership price, and every time someone is watching your videos, you are getting paid a share, which is being calculated based on your viewers' watch time.

In case you are interested, you can use this link to get two months of Skillshare Premium for free if you sign up.

 

Now, why does it makes sense to be everywhere?

In the beginning, we talked about signing up on every social network possible. Free up one hour only once a week and start providing regular content to all the social networks out there.

Do what you love and enjoy what you are doing most and post about it. Have, for example, a link in the video description, leading to your course sign-up form, landing page, or provide a free test lesson in return for a visitor's email.

It can never be early enough to start building this longterm goal and think about passive income because you right now experience how fast a situation can turn around.

In case you got any questions or are interested to learn more, you can contact me anytime!

By the way, some of these links on this page may be affiliate links.

Photo by Vishnu R Nair on Unsplash
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