In episode 11 of our Music School Success TV (MSSTV), we give you an overview of the 8 business divisions that a music school must have to “plan to succeed.” Click on the link above to watch the full video.
The 8 divisions of your teaching business includes:
- Finance – it’s all about the money, expenses, & income
- Intellectual Property – your creations, your programs, your systems
- Legal – contracts, leases, and more
- Marketing – includes paid and unpaid advertising, PR and any methods of telling the world about your teaching business
- Operations – the administration and systems that make your business work
- Human Resources – your staff, consultants, and freelancers
- IT – everyday techy
- Merchandise – stuff to sell
For bigger businesses, each division has its own manager, but for a small business, one or a few people get to manage multiple divisions. If you are starting or growing your existing music school, it would be highly recommended to get to know the tasks involved in each division because these are the necessary tools you would need to make your school a success. I for myself have been using this 8 business divisions that have worked well for me, and would like to share with you further in detail in my coaching sessions.
Why separate the divisions if the same person is managing them? For one, that’s time management. Another to enable hiring of Specialist Consultants & assistants ( Accountants, Marketing, HR, Lawyer, Purchasing & Stock control, IT, Admin, Creative). Finally, to provide clear financial reporting. Discover the steps to the Music School Success Ladder by subscribing to my free weekly email newsletter. You will receive updates and tips to make your music school business thrive.
My advice to anyone starting a Music teaching Business ( or any business) is to set up with these clear Biz divisions, find good advisers as needed. The result being that as the business grows, they will be able to see which areas need to change to enable that growth. They will also able to seek assistance in each area from specialists as needed.