Hi Music Teachers!!! As we begin the fourth quarter of 2020, it’s important to take a moment and wipe the sweat off of your brow and say “whew, we’ve almost finished 2020!” Not that “that” means anything because we are still unfortunately in the thick of COVID-19!
However, if you have made it this far in 2020 and your business is still in operation (or if you are just starting a music lesson business) that deserves recognition + praise! Great job and here’s a high five!!
Although this year has been very unpredictable and challenging to say the least…I know that I can’t allow that to stop my business plans and desires to achieve my end of year goals and the goals I have planned for the beginning of 2021!
In everything you do in business, it requires planning, strategy and documenting your results! This year is no different.
For my music school business my end of year goals are simple:
- Meet end of year enrollment goals: Every semester I set goals for enrollment, I plan my enrollment based on the staff I currently have, the instruments we have available to teach and most importantly the income I desire. From there I plan my goals for advertising based on my expected ROI and my budget.
- Tidy-Up End of Year Financials: Tidying up the end of year financials consist of me reconciling bank statements, reviewing payroll, preparing end of year forms for staff and speaking with my accountant about upcoming plans.
- Plans for Start of the Year: My plans for the start of the year consists of creating a monthly budget for advertising, reviewing my ads that get results, and duplicating them!, and also prepping students for upcoming grading events!
What are your plans for the last quarter of the year? & Upcoming goals for the New Year?