Jul 20, 2020
In this episode, I map out the 3 levels of music studio leadership. Each level defines a different business model as well as a different mindset. Each level requires different types of leadership; The solopreneur, the reluctant entrepreneur, the entrepreneur
The solopreneur is a fancy way of saying, solo teacher. The solopreneur is limited by his availability. The solopreneur puts most of his energy into improving teaching skills and the lesson experience. Marketing is something the soloprenuer does when he needs more students. Since the soloprenuer has limited availability for teaching he has the luxury of charging a priming rate and being as niche as he wants; as long as there are enough people that want his offering.
This is where things can get tricky. The solo instructor wants to grow her business so she rents out a studio and hires additional teaching staff. New expenses, new responsibilities and not enough time to keep up with the demands of teaching and management can become overwhelming.
Typically a level 2 leader just wants to increase their revenue but feel resentful with all of the new demands of their business. They love to teach and often neglect the needs of their business. Marketing is something the level 2 leader knows is important but just doesn't have the time to learn about or focus on. Hence the title reluctant entrepreneur
When a studio owner can fully remove herself from teaching; she enters the realm of a level 3 studio. She is no longer identifies as a music teacher. She identifies as a visionary, a business leader, an entrepreneur. If she does teach, it's because it's a part of her growth strategy.
The level 3 studio owner views his studio as an organization defined by a vision and marketing strategy. The level 3 studio owner doesn't work in the trenches but rather stands at the bow of the ship; setting a course and scanning the horizon for opportunities as well as threats.
The entrepreneurial mindset is the secret to turning a level 1 or 2 music studio into a level 3.
What's your mindset? Are you a solopreneur, a reluctant entrepreneur or an entrepreneur?
Sponsor: Rock Out Loud Live