The New Year has arrived, and it’s time to close out last year’s work in the private music teaching studio. A few things need to be organized, finalized, and finished up in order to begin the New Year. If you make a plan and stick to it, you can probably finish this up quickly, as I did in my studio. Then you can create some exciting new goals to begin the New Year. Here are few things to think about as you reflect upon last year’s work.
Create an income and expense report. The sooner you get your taxes in order, the sooner you can get your refund or pay your debt to the IRS. If you have been using a program such as Music Teacher’s Helper, you’ll be able to quickly and easily print out a report of your income and your expenses. Hopefully, you’ve kept track all year long and you won’t be scrambling to figure out how much you made. These reports are helpful for you so that you know how much money you made and how much more you need to make. Make an appointment with your accountant to get your taxes filed so you don’t have to worry about them.
Clean and organize studio tools and supplies. A clean and organized studio is an efficient one. Filing cabinets or magazine boxes are great storage for music. Small storage crates work great for organizing games, supplies, and prizes. A clean studio will make students feel more welcome and at ease.
Tune your pianos and update your instruments. Are your instruments in good working order? Piano tuners usually have a rush before Christmas, so they may be more available to get your piano in shape after the New Year. Don’t forget to keep track of how much you spent on tuning and repairs throughout the year – it may be a tax deduction. See if your local tuner or instrument repair shop will give you a deal for referring clients.
Set goals for the New Year. Set some new goals, both personally and professionally. Do you need to work on a skill? Learn some new music? How about a new strategy for helping your students accomplish their music and practicing goals? Have you tried a rewards system? Does your studio need updating? Do you need more students to achieve your financial goals? Is it time to raise your fees?
Raise fees, if needed. You may need to raise fees, and New Year’s is an appropriate time if you have given your students enough warning. If not, you may need to raise them in the fall with the new school year. Give your students lots of notice.
Sign up for Music Teacher’s Helper. Music Teacher’s Helper is a great tool for all private music studios. It will help you manage your student list, contact students, track their progress, and keep tabs on your income and expenses. A free website is included, and the cost to sign up is minimal.
With just a little effort, you’ll have a refreshed and exciting private music studio to start the year. Have fun with your students and celebrate the joy of music!