Here is my summary! I unfortunately have to post my video tomorrow morning, sorry all.
The Business Plan: What it is and Why
You Need One if You're Starting Out or Starting Over by Heidi Vass is
a brief but concise article about the importance of investing time
and careful planning into your career. She expresses that your studio
is actually a small business and it should be treated as such. You
might need to obtain an occupational license or permits in order to
operate and there are certain tax filing standards you must follow.
The most important aspect of owning your small business is to be as
organized as possible. It's good to make an outline of your plan and
what you hope to realistically accomplish and keep careful financial
records and only afford what you need. Having a business plan is a
great way to get you through your everyday work, accomplish your
career goals, make you aware of any obstacles along the way and keep
you from a life of day jobs.
Interesting. I hadn't thought about private studios like this before. Definitely something to think about if any of us ever plan to open a private voice studio.
ReplyDeleteI think this issue is very interesting. I would definitely be interested in taking business classes if I ever decided to pursue a large studio, as I know that many hurdles involving paperwork and taxes arise. Write offs, documentation, and reserving the portion of taxed money from checks are all things that need to occur in businesses, but it can be hard to do things correctly! On the other hand, it would be exciting to successfully set up a business, and would feel empowering to master and understand what it takes to manage and run a business. Running a vocal studio is definitely not simply about being a good teacher, it is also about being a savvy business woman.
ReplyDeleteIt's great how many options there are to make your studio into a small business and how many resources there are to help. You can really personalize your business plans to fit your needs.
ReplyDeleteI think treating your studio as a business is essential for creating a firm foundation in your teaching. It allows for you to be consistent with your guidelines and makes your student (the customer) very aware of what they are buying into. Keeping record of your students' progress will allow for you to reflect on your teaching, focus on aspects of your teaching you lack on a larger scale, and will, in the end, benefit your students and allow them to progress as you progress.
ReplyDeleteYes. Business. I have been thinking this for a long time and I'm glad I'm not crazy. I feel like sometimes student-teacher relationship gets too personal when it comes to certain situations. It is a business and you and your teacher are going toward a goal together. You are WORKING together to make a product.
ReplyDeleteThis is really helpful for developing an early studio. I like the tips it had about making it a small business.Hopefully we will all have our own studios someday!
ReplyDeleteI completely agree, and found this article a very valuable resource to me, with the options that are available to organize and come into the funding of a business planned to develop and assist your studio. I struggled with doing a similar thing as Treasurer of Outspoken, and could actually have used this information back then, as well!
ReplyDeleteThere's too many things you have to be good at! being good at singing is not synonymous with being good at teaching and being good at teaching is not the same as good at business. Overwhelmed.
ReplyDeleteI'm glad this is an article that we're reviewing. Especially when you're pursuing a career in something you love, like singing and/or teaching, it's hard to remember the reality of today- you have to be business savvy and sometimes being well-versed in business will get you further than just being a great singer/teacher.
ReplyDelete