FAMINE OR FEAST BREAKING THE CYCLE
The music industry often feels like a never-ending cycle of highs and lows, a relentless oscillation between periods of abundance and scarcity. This “feast or famine” cycle is a reality many musicians face, and understanding how to break free from it can transform your career.
“Success is not final, failure is not fatal: It is the courage to continue that counts.” — Winston Churchill
Understanding the Cycle
The feast or famine cycle can be daunting. It’s not unusual for musicians to experience periods of intense success followed by times of struggle. This cycle often seems driven by external factors such as changing trends, fluctuating demand, or industry unpredictability. However, it’s also influenced by internal factors, including the pressure to maintain success and the tendency to sacrifice personal values for market demands.
The biblical story of Joseph and Pharaoh offers a timeless lesson: Joseph predicted seven years of plenty followed by seven years of famine. His advice to build reserves during the good years ensured survival through the hard times. This ancient wisdom remains relevant today.
Why the Cycle Persists
- Pressure to Maintain Success: Achieving a breakthrough can create immense pressure to sustain it. The fear of falling from grace often leads to overextending yourself or compromising your core values in an attempt to remain relevant.
- Changing Trends: The music industry is notorious for its fast-moving trends. What’s popular today might be forgotten tomorrow. This constant evolution can make it difficult to maintain a stable presence.
- Self-Sacrifice: Musicians often sacrifice their passion and values in pursuit of success, which can erode their love for their art and contribute to the cycle of feast and famine.
Breaking the Cycle
To break free from this cycle, consider the following strategies:
- Build Reserves: Just as Joseph advised Pharaoh, use your periods of success to build reserves—both financial and creative. Save a portion of your income and set aside time to create new work even when you’re in high demand. This prepares you for lean times and ensures your creative well doesn’t run dry.
- Define Your Values: Reconnect with why you started making music in the first place. Align your work with your core values and vision. “Your time is limited, don’t waste it living someone else’s life.” — Steve Jobs.
- Diversify Your Revenue Streams: Don’t rely solely on one source of income. Explore various avenues like teaching music, playing events, or producing for other artists. This not only provides financial stability but also keeps you engaged with different aspects of the industry.
- Create a Strong Brand: Today’s music industry requires you to act as your own CEO. Develop a unique brand and understand your audience’s preferences. “Don’t be afraid to give up the good to go for the great.” — John D. Rockefeller.
- Network and Collaborate: Build key alliances within the industry. Collaborate with others not just musically, but also in areas like product development, touring, and promotions. Think beyond traditional collaborations and explore new opportunities.
- Stay Persistent: The journey in music is a marathon, not a sprint. “Success is the sum of small efforts, repeated day in and day out.” — Robert Collier. Stay persistent, and understand that financial struggles are often temporary. With one breakthrough, your fortunes could change.
Embrace the Journey
Breaking the feast or famine cycle requires both strategic planning and a deep understanding of your personal and professional needs. Embrace the journey with patience and resilience. Your creative gift is valuable, and navigating through challenges will only enhance your growth and success.
Remember, the key to long-term success in the music industry is not just surviving the cycles but mastering them. Build your reserves, stay true to your values, and keep pushing forward. Your passion and persistence will pave the way for a more stable and fulfilling career.