In this blog post, I’m going to fill you in on how you can turn your interests & passions into an actual online business if you love music!😊😎
There are 4 types of online business models we’re going to cover, they are…
1. Affiliate Marketing – this is where you promote other companies’ products online and get a commission
2. eCommerce – Selling physical products on sites like Amazon
3. Information – This is where you provide information or educate someone on something they want to learn about
4. Service – This is where you provide a service for someone and get paid for it
Now let’s keep it simple, let’s say you’re into music, or maybe you’re even a musician.
For a start, learning new digital skills will help you market and promote your music online to others.
You can learn how to build your own website, attract and grow a mailing list of followers, use social media advertising to reach more fans worldwide and sell your music – these are just some ideas!
But for now, let’s look at the online business models I mentioned above and how you can use them if you love music (whether you’re a musician or not :))
👉Affiliate Marketing – you can join sites that have ‘Music Affiliate Programs’ (most are free) and promote anything you’re interested in such as recording software, musical instruments, gadgets, electronic equipment, online music courses and get a commission.
Some well-known sites that do this include Amazon Associates, Musician’s Friend, Gear4Music, Guitar Centre just to name a few.
The music affiliate industry is currently worth $21 billion, and growing!
Music affiliate programs can offer money-making opportunities if you know how to use affiliate marketing.
👉eCommerce – You can sell physical products like musical instruments🎸 accessories🎧and recording equipment on sites like Amazon.
And provided you know how and where to source products at a good cost price, you can sell them profitably because your overheads should be relatively low as you won’t need a physical store and all the expenses that come with it.
Amazon can also take care of the storage of your products and fulfilment of your orders. It’s called FBA or ‘Fulfilment By Amazon’.
👉Information – The e-learning space is expected to be a $1 billion a day industry in the very near future (next 5+ years).
If you have a skill or expertise in music that others can benefit from you can provide it to others as a digital product.
Some examples would be to provide an online course or video training or tutorial teaching someone how to sing, play an instrument, compose a song, or use studio recording equipment.
The exciting thing about offering your information as a ‘digital product’ (like a training video or e-book) is that you only need to do the work once, then you can market and sell it to as many people as you want, without having to do the work over and over again.
Think of some influencers you’ve seen on YouTube or Instagram offering their online courses, this is what they’re doing! and also a good way to generate ‘passive income’ (more on that another time).
👉Service – This is where your skills, talents and expertise can be turned into a service that others pay to receive and benefit from.
So for example, you could teach someone how to sing, play an instrument, compose a song or use musical equipment.
You can learn how to market and promote your services online and help people either face to face or using technology like Zoom or WhatsApp video calls.
I hope these ideas helped you and opened up your mind to the possibility of actually creating your own dream online business!
And if you substitute music for whatever you’re interested in, the examples above work for almost anything you can think of.
You’re only limited by your imagination!