,
I have been reminiscing today about the first time I ever made a significant investment in my career and music business.
Both times they were one of the best decisions I ever made, but it didn't feel like that at the time!
and Living in London, working as both a singer and a music booking agent (my own start-up), and renting a house which cost me £1480 PCM, with bills and business expenses on top, meant my basic commitments were already £2500, and that didn't even include going out or buying new clothes. I'm sure many of you reading this who live in London or a major city in the world, know what I mean when I say there was no wiggle room for any emergencies let alone having drinks out with friends limited, my life revolved around gigs or staying in.
Today's Census from Help Musicians UK reveals that the average musician's annual income is £20,700 - but nearly half earn under £14,000. That's where I was when I invested in my first-ever coach in the music industry. I earned under £12k a year as a singer and with a start-up under my belt which took all my gig money to help it grow.
I knew I wanted to grow though, as a person, a business owner, a performer, and more.
So, I took the plunge.
I made an extra room in my house by sleeping on the sofa and renting my room out to tourists and students, so I could generate the extra funds to invest and I did it - I hired a business coach.
The first-ever business course I invested in was a group program which cost me £2450. I paid for it in 12 x installments of £250 a month which was a scary move- the fear, excitement, and nerves were palpable, and I had to do a lot of growing to stay in the mindset of growth during this time. I had a huge victim mentality during this time of my life too, coming out of some big traumas, there was a repetitive pattern of things going wrong that would hold me back. I am glad to say that 2023 me has firmly shaken these energetic strongholds, and I can now spot where I self-sabotage and hold myself back, but back then, this one investment had me growing faster than I could keep up with and the lessons were coming thick and fast!
The next investment I ever made was the year after that, a monthly coaching program that had 1-1 elements in it and cost me £139 a month. This one scared me more for some reason, even though it was less money. I think it was because it was ongoing, didn't have any course content, and was in real-time - the accountability meant I had to really do the work.
Both of these investments seriously paid off in, both in different ways.
The first coaching investment, I made my investment back in just 2 weeks, in full, in just one booking! I couldn’t believe it. That course has proved invaluable to me over the years, giving me a community of like-minded female entrepreneurs and visionaries who I hang out with online on a regular basis.
The second one, the 1-1 coaching, helped me scale my music business and start a new one in the midst of a pandemic, impacting the lives of hundreds of people.
Looking back, these decisions were the best I have ever made.
When you invest money in a coach for your music business, it can be genuinely terrifying, you feel like you don't know what the outcome is, you have genuine rent/work/life issues to think about and it can feel a little like gambling.
You have to make decisions from a balanced place and not put yourself in any financial danger, however if you are in that place of deciding if hiring a coach is right for you then I can tell you - but this is the best investment you can ever make. You will always make a return on your investment, grow as a person, and learn new skills.
Hello! I'm Kerri Layton.
Singer, live event music booking agent, and music industry mentor with 16+ years of experience, I help professional musicians achieve work-life balance and thrive spiritually, financially, and creatively. Through personalized coaching, group programs, and masterminds, I heal various aspects of musicians' lives and businesses, enabling financial sustainability and unlocking their full potential. My mission is to empower musicians to release their creative visions to the world and share their talents while achieving productivity and balance. With a freebie that has helped over 100 musicians get structure in their day and make money, I understand the challenges of being a freelance musician and offer support and structure to help them succeed. Let's bring more music into the world and help musicians thrive doing what they love.
Check out my 'Shop for Success' in my self-study resources or join my lifetime access program 'Get Booked Bootcamp'.