In a financial rut? Who isn’t. Here are 10 Tip for us from Nigerian “Money Matters” columnist, author and radio/TV show host, Nimi Akinkugbe 

1). Ticket Sales At Live Shows

Playing live is one of the surest ways of making money as a musician as you receive income from ticket sales

2). Play Covers

Some original artists turn up their noses at the thought of playing covers. There is nothing wrong with playing other people’s music

3). Selling Merchandise

Have some nifty merchandise and autographed CDs on hand after a live show as fans will still be reveling in the aftermath of a great show.

4). Can You Teach Others

The best way to become more skilled at what you do is to teach. If you were a singer or an instrumentalist, people will pay to be taught by you.

5). Embrace Technology

If you fail to embrace technology, you become a dinosaur. The world is at your fingertips as the internet makes it possible to reach millions of fans all over the world and very cheaply and efficiently.

6). Keep Creating Content

Write new songs, create new beats, make new music. Build a war chest of material that you can pull off the shelf at any time. Keep it fresh and current.

7). Earning Royalties

Seek professional advice from an entertainment lawyer with regard to the technical area of earning royalties so you understand what should be due to you and can protect yourself appropriately.

8). Endorsements

If you have enough influence or simply have a huge following, you may be able to land yourself an endorsement deal as some corporates may wish to reach that fan base.

9). Licensing Fees

If you are a prolific songwriter, write songs for other musicians or compose specifically for movies, TV shows, adverts, jingles, video games and so on.

10). Practice makes perfect

When last did you enroll on a course or have some formal instruction for your instrument to make you a better pianist, or keyboard player, singer, bass, or lead guitarist? Don’t be mediocre; practice makes perfect; Strive for excellence and be the best that you can be.