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studio Tag

09 Aug

Communicating with Your Customers

by cconrad
in Marketing, Performance, Policies and Procedures
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Having been a piano teacher for nine years now, I have learned how very important it is to maintain contact with my clients.  I believe that keeping the lines of communication open with my customers results in a better lesson experience for all involved, and I’ve also learned that it helps my students and their families to feel as though they are important and not becoming “lost in the shuffle”.  Regular contact with stucommunicatedents makes them feel that I am accessible and they, in turn, are very open to coming to me with questions, concerns, and positive feedback.  Below are a few simple ideas to encourage interaction between you and your studio’s customers:

E-mail

The Internet has made communicating simple and effective.  When I think of how my own piano teacher growing up had to make phone calls whenever there was a schedule change or send letters home with students about upcoming events (and rely on us actually giving them to our parents…), I realize how lucky I am to be running a studio in the age of the Internet.  I use e-mail to communicate nearly everything that happens in my studio–upcoming recitals, workshops, lesson reminders, etc.  Not only does this simple and efficent way of communicating make life easier for me, but busy parents appreciate the quick, non-intrusive updates.  I also use e-mail to tell students about events in the community.  For example, if there is an upcoming symphony performance or a great sale at our local piano store, I will send a brief e-mail to my piano families to let them know.

Newsletters

I have found newsletters to be a great way to not only get studio information into my clients hands, but also to provide motivational and educational tips and articles to my families.  This has also been a wonderful tool to promote the benefits of music education. 

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21 Jul

Budgeting 101

by admin
in Finances
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BudgetNow that you are charging what you’re worth (last month’s blog), it’s time to discuss what to do with all of that money! A budget is an essential tool for any successful business. Ben Franklin said,

“If you fail to plan, you plan to fail.”

What is a Budget?

As a teaching artist and studio owner striving to learn the ropes of running a small business, I find it particularly challenging when faced with financial obligations such as creating a budget. But it is a task that must be done and the simpler I can keep it, the better! So, what is a budget? The website, investopedia.com, defines budget as “an estimation of the revenue and expenses over a specified future period of time.” A budget can be prepared weekly, monthly, quarterly, or yearly. An important reason to have a budget is to maintain control over expenses and avoid overspending. On the other hand, a business must spend money to make money. A budget provides a tool for organizing cash flow and planning for the future. Learning what you have to grow the business and compete is another function of a budget.

In my research, I found that there two types of budgets: a static or fixed budget and a flexible budget. The static budget is simpler because it projects established levels of fixed income and expenses over a set period of time. It works best for businesses that expect income and expenses to be stable. A flexible budget is one that takes into account varying levels of income and expenses. A static budget can be used prior to the start of a budgeting period. The flexible budget helps in evaluating performance and can be adjusted as needed when income and cost fluctuate.

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09 Jul

The Importance of Networking

by cconrad
in Marketing
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NetworkingAbout a year ago, my family relocated from Milwaukee, Wisconsin to Bozeman, Montana, and I was faced with “relaunching” my piano studio in a new town.  When I opened my studio in Wisconsin the only marketing I did was to place an ad on craigslist — a dozen students soon followed.  After a few unsuccessful attempts at pulling in students in Bozeman via craigslist, I was forced to come up with better marketing strategies that would successfully reach out to my new community.

Bozeman — being an educated, college town and far from a big city — is big on networking.  It didn’t take me long to figure out that I was going to need to find new ways to “plug into” the community of Bozeman in order to create interest in my studio.

Networking with other professionals

One of the first things I did after my craigslist flop was contact the president of my local music teachers association.  Not only was she able to help me understand better how to attract students and brainstorm ideas for my studio, but she also provided me with my first three students.  Since she was no longer accepting new piano students, she gave the families who contacted her for lessons my information, and I was able to begin teaching again just a few short weeks after my initial meeting with her.  When I met other members of the group at monthly meetings, similar referrals soon followed.

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21 Jun

The Courage to Charge What You’re Worth

by admin
in Finances, Policies and Procedures
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CouragetoCharge

In 2009 I had the pleasure of hearing Beth Gigante Klingenstein, author of The Independent Piano Teacher’s Studio Handbook, speak on the question of “Who’s in Charge of Your Studio?” at the University of St. Thomas Summer Music Institute. The main message I took away from her workshop was that if we as studio owners are complaining about our wages or any other aspect of our business, we have only ourselves to blame. We are the captains of our own ships and we can remedy the situation by raising our rates, setting studio policies and enforcing them, and ultimately, by realizing our worth as teachers of music and art.

In 2002, Beth conducted a survey of Independent Music Teachers (IMT’s) in the Music Teachers National Association and found that the average IMT earned $29.00 per hour and had an average gross annual income of $17, 893. What I found shocking was her comparison of the independent music teacher’s salaries to that of other business professionals. The IMT income was lower than a pharmacy technician, janitor, receptionist, file clerk, and even a manicurist! Why are we underpaid? Beth offered many reasons:

• Traditionally female profession – historically, traditionally male professions tend to be paid more
• We are independent
• We do not raise rates often enough or by enough
• We think “per-hour” instead of annual income
• We think “part-time” instead of “full-time”
• We fail to realize the difference between gross and net income
How do we change this? First of all we have to recognize and acknowledge our worth. One of the most disturbing mindsets that Beth discusses in her book is, “I don’t need the income because I am being supported by my spouse.” This attitude is a detriment to our profession. Many teachers support not only themselves, but also their families on their teaching income. If some teachers charge artificially low rates, everyone in the profession suffers.

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09 Jun

Maintaining Income During the Summer

by cconrad
in Finances, Policies and Procedures
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heaven on earthI own and operate a small piano studio out of my home, and the summertime is always a bit of a financial struggle for me.

When I took piano lessons growing up, we always continued our lessons during the summer.  They were a bit more sporadic, since my teacher usually took a vacation and my family usually took a vacation, but it certainly wasn’t as though we took the summer off.

When I began teaching piano in Milwaukee, I was surprised to discover that teachers in the area gave summers completely off from piano lessons.  Most of my students expected that I would be doing this same thing.  My first year of teaching, though it went against my instincts and desires, I decided to appease the masses and gave my students the summer off.

I will never do it again. 

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