065 – Andrea Miller on Incentives at Work in Music Studios

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Read the full transcript for this episode here

Summary

A couple of weeks ago I aired an episode with Ryan Benthall about different lead generation platforms like TakeLessons.com and Thumbtack. After hearing Ryan talk about the different platforms and the business models behind them, my economics nerd radar was buzzing.

This was a perfect illustration of incentives and how they influence consumer and business behavior.

I hope today’s episode, I’m doing a deep dive econ case study. We’ll be looking, primarily at TakeLessons.com, as an example of incentives at work. We’ll look at how incentives influence user behavior and outcomes, what happens when the business’s incentives and the user’s incentives are misaligned, and of course, we’ll be talking about why this matters for us as music studio owners.

Resources

Episode 009 – Sean Murphy on Managing an In-School Studio of 100+ Students 

Episode 055 – Leischen Moore on Rebranding an Independent Voice Studio

Episode 064 – Ryan Benthall on Firsthand Experience with Lead Generation Platforms

Connect with Andrea

Facebook: https://www.facebook.com/musicstudiostartup

Instagram: https://instagram.com/musicstudiostartup

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