Transcript 110 – 5 Resources to Kickstart 2023

Transcript: 110 – 5 Resources to Kickstart 2023

Transcript for 110 – 5 Resources to Kickstart 2023

[00:00:00] Andrea: Hey, it’s Andrea with Music Studio Startup, the podcast about the business of teaching music. Learn from the startup stories of music teachers who are doing incredible things with their studios. Be inspired by creating musicians who are branching out and thriving as entrepreneurs. Be empowered by the insights of experts who will help you grow your own studio.

[00:00:25] Let’s get started.

[00:00:37] Welcome back and happy New Year. I hope you had a wonderful holiday season. In talking to friends, teachers, and colleagues in this first week of January I’ve heard a range of emotions around the. Some are eager to jump in and others are not quite so ready. I’d actually consider myself in the latter camp, and I’ll talk a bit more about that in a minute.

[00:00:56] Wherever you find yourself today, I’d like to share five resources, some old and some new, to help you welcome 2023. These are mostly resources that I use myself, but also some that I’ve developed specifically from my work with studio owners and entrepreneurs. I’ll put links to all these things in the show notes so you don’t have to worry about it as I’m going through.

[00:01:14] The first resource is a principle set of reflection questions to guide you through a review of your last year. I think reflecting is such an important part of the goal setting process. This set of questions is great for taking stock of what worked and what didn’t work last year, and showing you where you might wanna focus your 2023.

[00:01:31] I mentioned that I’m not feeling quite ready for the new year. I’ve come to realize over the last several years that the holidays in my family are not a time for relaxing and resting up. Don’t get me wrong, they’re super fun and I wouldn’t have them any other way. But they’re not restful or a good time for reflection.

[00:01:47] Because of this, I don’t even begin my year end reflection until the year has actually ended. I set aside time in the first or second week of January to step back and take stock of the previous year. This is a set of questions I’ll be asking myself. The second resource is podcast episode 088 which I released last January about my goal setting process.

[00:02:07] This episode explains how I take those reflection questions and turn them into broad goals, and then plan my year from there. I won’t say anything more about it here, but you can hear all the nitty gritty details of that process in episode 088. The third resource is My Vision and Values course, which is free at musicstudiostartup.com.

[00:02:24] I recommend everyone take this course once, no matter how long you’ve been in business, and I actually require it of all my coaching clients because it helps us understand what’s important to them as teachers and business owners, and gives us a lens for making decision. If you’re looking back at last year and feeling like you were chasing too many different things or didn’t make as much progress as you would’ve liked on some really important things, this would definitely be a time to take this course.

[00:02:48] It’ll help you filter your potential goals for 2023 and choose the ones that will be most meaningful and impactful. The fourth resource I wanna share is an overview of the different Music Studio startup program. Business Building 1 0 1 is our foundation’s course where we talk about studio policies, business and personal budgets, LLCs, taxes, studio websites, and more.

[00:03:09] If you feel like your studio just isn’t quite working, this is a place to start. This month, we’re also launching the much anticipated Business Finance for Music Teachers course. I created this course in response to teachers who liked the clarity they gained from the financial portion of the Business Building 101 course and wanted to go deeper.

[00:03:27] This course will give you the tools to financially model different scenarios and make more informed decisions around common questions you may have. Like should I start solo teaching or open a multi teacher studio? How can I run a sustainable multi teacher studio and still treat my teachers well? Can I afford to invest in a commercial studio space?

[00:03:45] Is it a smart investment? Should I self-finance this project or take out a loan? How do I prepare financial statements for a business plan or competition? Or how can I make my business more attractive to a buyer or investor? If getting your studio on track is a goal for 2023 and you think one of these courses might be the key, but you’re not sure which one you should choose, feel free to drop me an email with some background on your studio. I’m happy to make a recommendation.

[00:04:10] Finally, the fifth resource is this podcast. I hope this podcast continues to be resourced for you in the coming year. You’ll definitely wanna tone you next week as we bring back a former guest to talk about getting a strong start to the tax season.

[00:04:22] If that’s not your idea, fun, don’t worry. We’ve got a variety of practical and inspirational interviews coming your way in 2023. The best way to make sure you don’t miss a single episode is to subscribe on your podcast player of choice. So there you have it, five resources to get rolling in 2023. You can find the links to all of these resources as well as many more at musicstudiostartup.com/episode110

[00:04:45] that’s all for today. Thanks for listening. I’ll be back next week.