The Importance of Having Options in Life

Over the years one of the things I’ve heard from a number of up and coming artists is the idea of having “no Plan B”. Artists claim that by having no other options, it will force them to lock in and go as hard as they possibly can on their craft. In recent years this approach has become very popular. In this article I want to express the positives of keeping your options open as you move forward with your artistry.

Making it Big

Back in 2019 when I was first starting to make moves as an up and coming artist, I too subscribed to the traditional way of doing things. My approach at the time was the basic approach that we’ve seen time and time again. Hit the studio, record a handful of demo tracks, and shop them around until a major label shows interest. And I would have stuck with that approach if it wasn’t for the studio getting closed due to COVID in early 2020.

It wasn’t until several months after graduating from college that I first discovered the personal finance community, and became aware of things such as diversification, passive income, house-hacking, and so on. Basically, my discovery of the FIRE community changed the way I approached my music and entrepreneurship. It showed that the traditional model of signing to a major label, becoming a famous artist, and walking the red carpet is not only unnecessary, but in many cases an unsatisfactory way to do things.

Well Diversified

Many up and coming artists forego things like building a resume, having relevant job skills, and earning a college degree because they don’t see how it applies to their music. Why waste time on any of that when they could be in the studio instead? And that’s where it’s important to shift your perspective and how you approach things. Instead of having all your eggs in one basket, and seeing yourself as “just a rapper”, you’ve got to be able to see the big picture and see how the other pieces and parts can add up.

Making hip hop music can be a very profitable revenue stream. But it is just one revenue stream. It is said that if you really want to be successful, 6 or 7 revenue streams should be the goal. That could include real estate investing, stock investing, selling products or merchandise, and even active income earned through a day job.

What Prompted Me To Start Hustling

Seven or eight years ago, before I was a college graduate, active hip hop artist, and personal finance enthusiast, I was a very unhappy guy working a job I really didn’t like. I remember being at work one morning and looking around at some of my co-workers at the time. These guys were well into their 40s or even 50s, and there they were kneeling over, stocking product into a freezing cold cooler, and probably only making enough money just to get by. I remember in that moment recognizing the importance of having your options open in life.

I went on to earn my college degree, and also ended up continuing to expand upon my skills and certifications even after graduating to ensure that my options remained open.

Conclusion

For the young up and coming artist with “no Plan B”, you’ve got to be willing to approach things in a more intelligent way. So many artists go out and get inked up with tattoos, catch criminal charges, and forego any sort of academic or professional undertakings only to end up broke, unemployed, and not hirable. Instead, do things the smart way. Build up your skills, invest your time in productive ways, keep your options open, and be willing to hustle in different directions.