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The Top 5 Most Powerful Ways For Dancers To Build Wealth - The Let's Talk Dance Blog - Empowering Dancers To Create A Better Quality of Life!

The Top 5 Most Powerful Ways For Dancers To Build Wealth

 

About a year and a half ago, I wrote an article entitled “5 Things You Didn’t Know About Professional Dancers“. One of the five things I mentioned in this article was that, dancers want financial stability, want to become homeowners, and be wealthy, just as much as people in corporate America do. We choose to work in the dance industry because it’s our passion, and it’s what we love to do, not because it’s a guaranteed way to make a lot of money. It obviously is not the best career choice if you want to be wealthy….or is it?

I don’t know too many professional dancers, dance teachers, or choreographers who are millionaires. Actually, wait a second, I don’t know any professional dancers, dance teachers, or choreographers who are millionaires. If you know of someone, feel free to leave a comment on this post and tell me who they are. My point is, wealth and dance are two words that don’t usually go together, but in this 5-Part series, I will show you 5 different ways that you, as a dancer, can build wealth, create consistent passive income, and make money in your sleep.

You may be asking yourself, “why do I need to be concerned with building wealth, and creating passive income? I’m a working dancer, and am very successful in my dance career.”

Here’s your answer:

Professional Dancers, Dance Instructors, and Choreographers, are generally Independent Contractors and therefore do not get:

– PTO (Paid Time Off)
– Medical and Dental Benefits
– Paid Maternity or Paternity leave
– Bonuses
– 401K

The list goes on and on. So if you’re a professional dancer, dance instructor or choreographer, how can you build wealth, when you’re stuck in the “paid-by-the-hour” lifestyle? What happens if you get sick and can’t work for an extended period of time? What happens if you get injured?

These are things that we as dancers, need to seriously be considering every single day, as we make choices about our career, and how we spend our time when we’re not performing or teaching. All of my ways to build wealth are things that you can do while you are building your dance career, pursuing your passion, and living your dream.

Additionally, all of my suggestions are ways for you to creative passive income. That’s how you build wealth. If all of your income is based on the amount of hours you work, or requires you to be at a certain place, at a certain time in order to make money, then you’re not building wealth. Let’s start building wealth today!

Dancer’s Wealth Building Tip #1:

Create and Sell a Product.

Initial Investment: $0 – $200

Dancers are very creative, intelligent, and talented individuals. Not to mention, many of us have talents and gifts in areas other than dance. Here are some ways that you can build wealth by creating products.

*Videos – Create and sell your own videos online. All you need is a good HD camera, and some video editing-software. Gather some of your fellow dancers/dance teachers together to create some too. Make it a collaborative effort, and then sell the video downloads online individually, or as a package. You can create instructional dance videos, choreography videos, videos of interviews with other dance professionals sharing tips on how to be successful in the industry, or anything that you can imagine. Are you really good at leaps and turns? Locking? Breaking? Stretching and Flexibility? Create videos about that. Have advice for how to survive on tour, or how to get into a great college dance program? Create videos about that. You can create a video series on just about anything. Get sponsors or advertisers for your videos to create an additional opportunity to generate income through your videos.

*E-Books – E-books are a great, low-cost way to sell valuable content online. You can very easily create them in a pdf format, and make them available for download online, so that people from all over the world can have access to them. All of the above suggestions for creating videos also applies to writing e-books. Think outside the box, see what’s missing in the market, and fill a need. Or, create a new and unique spin on something that may already exist.

*Miscellaneous Products – Are you artistically-inclined in other ways not mentioned here? Do you design clothing, jewelry, or create beautiful artwork? Develop these products, create a business plan, a website, a Facebook, Twitter, and YouTube account, and start selling them on sites like Etsy, Ebay, and Amazon.com. Are you a musician? Are you technologically-inclined? Create a podcast or an i-Phone app.

The possibilities are truly endless! The point is to get away from the “waiting for my Big-Break” mentality, that many dancers have, and start building your own personal wealth today.

Stay tuned for part 2 of this 5-part series tomorrow! Please leave a comment below with more ideas and ways for dancers to build wealth, and let me know what you think about what’s been listed here so far. Feel free to Tweet this post, “like” it, and share it on Facebook as well.

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