Being a musician looks so easy. Play good music, get ‘found’, get rich and get famous. It seems to have happened so many times, with bands emerging almost overnight with no effort or planning.

Well, according to a recent survey, only five percent of full-time musicians are actually making a living with their music, and what’s worse, 23 percent have gone into debt to pursue their musical dreams.

What many of these often hardworking musicians don’t understand is that being successful  takes more than just following dreams; it takes careful planning and strategic thinking. Many could have avoided lost time and resources by understanding the common misconceptions that those who have gone before them have learned through trial and error.

1. If you can play an instrument well, you can become rich and famous for it

“Before committing to a particular career path, musicians should be rigorous and clearheaded about how their plans will collide with reality,” said Andrew Maxfield, BYU adjunct professor who teaches a class in the music program called “Entrepreneurship for Musicians.” “I wouldn’t discourage anyone from trying, but I would advocate for over-preparing.” He is himself a musician, but mainly makes his living doing marketing consulting for businesses of all types, musicians included.

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