One savvy entrepreneur now earns almost £12,000 a month after creating an innovative platform for musicians inspired by his love of music.
Will Fenton is the founder of MidderMusic, a website dedicated to teaching people the best possible way to learn how to their instrument of choice.
The founder, who originally started the site as a “side hustle”, says MidderMusic stands out from other music sites because it helps artists in promoting, distributing marketing and monetising their music, reports The Daily Express US.
For Mr Fenton, the idea came from his lifelong interest in music and he used his marketing background to get his business up and running.
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Speaking to Daily Express US, he said: “I started a side hustle three to four years ago that has now become a full-time job. My website earns me around $15,000 per month and has a valuation price of $500,000 to $675,000.
“The website averages around 400,000 page views per month but is growing rapidly.”
Mr Fenton pointed to his father as an important influence, particularly in his love of music. He said: “Music has been a big part of my life, I started playing the drums at an early age.
“Also, my dad has excellent taste in music and had me listening to the greats from day dot (The Rolling Stones, the Faces, etc.) along with telling me about his early adventures in the Liverpool music scene.
“I also had a music magazine going on the side and just wanted to immerse myself in that world. So I listened to the advice, ‘choose a topic you’d be happy to write about every day’, and began MidderMusic.”
He said there were two hurdles when evolving his side hustle to his primary source of income, namely earning money for growth and scaling the business to the size it is today.
He said: “Initially when trying to turn a side hustle into a full-time gig, the main priority is earning enough money to support its growth (and yourself).
“Although simplistic, this is also the most difficult part, as you have to take what is for some a passion project and figure out how to monetise it and turn it into a profitable business.
“Some people start with the knowledge and intention of how they will make money, but for many, starting a side hustle is a completely new path, and you don’t necessarily have that knowledge from day one.
“Some niches are harder to monetise than others, so figuring out how you will make money is key.”
His business plans are clearly working, with MidderMusic raking in over 420,000 views each month and continuing to show signs of growth.
On what comes next for varied business interests, Mr Fenton explained he wants to use his marketing background to expand his reach through other websites.
He said: “I’m already underway to expand and diversify the portfolio. With my education in Economics and Finance, as well as my experience working in London in financial services, I’ve launched a personal finance blog, Sterling Savvy.”
Mr Fenton said he wanted to help others with their side hustles by using his knowledge of investing.
He said: “I’ve experienced first-hand what earning a bit of extra income, creating a saving/budgeting plan and having an investment strategy can do.
“I think for many it can help significantly, and there isn’t too much good information about it, most people are just trying to sell something.”
