Financial Business

With recession drawing to a slow close, many small business owners and individual contractors withvariable incomes are asking “How can I get better control of my business finances so that a future recession doesn’t unhinge my income?” Here are some great tips to help you control your business’ income and expenditures, and ways to plan for looming expenses in the future.

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With the onset of fall studio enrollment upon us, this is the perfect time to check in with your students to make sure the studio is excelling their expectations. This is also the perfect time to get feedback on what needs to be improved, and to implement strategies to progress the studio’s service.

Depending on the type of studio you are, either a one-man show out of your home, or a 20 person staff in a community conservatory, your questions are going to be specific to what you offer. However, here is a list of components to a typical studio’s service, and some sample questions you might ask to determine your level of service in each component.

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Trying something new…

I’ve been working on promoting and building my studio for the past month.  I got MANY great ideas at the Classical Singer Convention in Chicago at the end of May, thanks to Cynthia Vaughn at Magnolia Music Studio in Fort Collins, CO.  Cynthia has SO many amazing ideas and she worked with several other voice teachers to try to get as many as possible so that we could benefit from all this experience.

Several points were made:

  • Attract & Retain students
  • Show progress with
  • quantifiable advances
  • awards/competitions
  • roles/solos – community based
  • technical goals achieved
  • Have a Student Achievement Page on the studio website
  • Relevance – non-quantifiable advances in:
  • enjoyment
  • validation
  • feedback/applause – studio class BEFORE a recital!
  • Added Value:
  • Options in scheduling and payment (check/credit card)
  • bonuses – register early, get 10% off, register for summer & get free lesson
  • performance opportunities – find out who has space you can use!
  • Gain New Students
    • Word of mouth through different circles
    • teach styles OTHER than Classical/Musical Theater
  • Marketing:
    • Bold, creative, SELECTIVE (no mass emails!)
    • Distinctive logo (see my new logo here!) & business cards
  • Online Business Links
  • Facebook, LinkedIn
  • GOOGLE yourself & find out where you are listed – you might be surprised at what’s there AND what’s not! (I have an OLD listing that I’m trying to modify – the web address leads nowhere) [···]
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