Tools for Financial Freedom in Your Music School (w. Alyssa O’ Toole) [7FMS Ep. #114]

by Daniel Patterson

 

In this week’s episode, we invited Alyssa back to talk about one of her favorite topics…

Money, debt, financial tools, and why business owners tend to avoid these topics.

Alyssa opens up and shares her story… At times scary… and at times HEROIC…

About how she opened her school without a plan and with massive debt.

She talks about the steps she took along the way to build a powerful and successful studio in one of the toughest markets in the United States.

A huge part of this was her self-education on the financial side of her business and the organization that she brought to her personal finances.

She shares what she’s learned over the past decade… you don’t want to miss this!

Again, we focus on PRACTICAL things you can do to improve your studio’s results and financial outcomes.

Click below to listen to the episode.

 

 

Or, check out the video version of the podcast:

 

 

Here’s what we cover in the episode:

  • Knowing where your $$$ is going in your music school
  • Finding financial advisors to help with fluency
  • Learning through experimenting, failure, and success
  • Basic metrics for small studios and dealing with debt
  • Balancing logic and passion in your financial decisions
  • Financial tools for different stages of studio growth
  • Handling financial challenges for mid-size studios
  • Overcoming emotional barriers in finances

One more thing…

Check out this free training I did on how to get more students in your school!

Also… Daniel has been posting short video tutorials on his Instagram.

Give us a follow if you’d like to see short inspiring clips in your feed during the week.

Sponsors

SPONSOR – Big Music Games

Big Music Games provides fun with a clear purpose. Ear training and music theory for students ages 4-14. 

Level up your student’s ears & ignite their passion and motivation to practice with 15 levels of rhythm, melody, harmony and songwriting games. 

Join the tribe of teachers dedicated to improving the way the world educates the next generation of musicians. BigMusicGames.com/7FMS

SPONSOR – Piano Express from GroupLessons.com

Now’s the time of year to consider what programs you are going to be offering in your music studio this fall…

And if you are looking for a program that will:

  • Increase student retention…
  • Increase the number of your beginners that become intermediate students…
  • Help students go through their books faster (Proven! We did a study on this!)…
  • Increase home practice time (Proven! We have years of data showing that this happens)

… Then you need to head over to GroupLessons.com, sign up for a free demo, and we’ll show you how hundreds of studios have easily started a new group program (sometimes in just a few weeks)… with little to no difficulty.

You can even begin our owner training for free (download our shopping list, and look through our teacher guides and method).

Click here for more information

 

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Daniel Patterson is a private teacher, writer, and marketing consultant for music schools. He began teaching in 2004. He co-founded and led marketing operations for a summer music camp that sees over 200 children each summer.

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