2. Explore alternate income sources.
Going over your finances will help determine how much income you need to survive. Look at your savings, and calculate how much income you need over the next 6-12 months. If you need cash immediately, rent out extra instruments and start teaching online.
If you have money saved up, use this time to invest in your future. Ideally, your new income stream is sustainable when things are back to normal. This could be an online school, a record label, or a music licensing business. Think how your new income source ties in with your long-term business goals. If you’re going to start teaching online, create courses that students can purchase many years from now. Build towards creating an online school