Those that do this for a living...

I recorded full time for a little over a year as my sole income. Once it started feeling like a job was when I said screw it. I got a job working for a very large microphone company and I use that as my main income. That gives me the freedom to pick my clients since I no longer have to survive on the money made recording. I can also undercut any competition out there if need be. (Like if there is a really good band with a small budget). I'll work with them for the experience and charge them what they can afford.

I work with music because I love it. I don't want it to become all about money.