DrDamski
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Registered: 02-2006
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SWOT Analysis
...Everyone looking to start a teaching business should try this... (sorry: long post but it's all good stuff, stick with me!)...
I have a full time job and have started teaching part-time. Mainly beginners or those who have not been playing long/to a high standard. It helps pay some bills and I'm hoping to grow my business to the point that one day I will give up the day job.
Interestingly I have found that the day job has helped me in understanding how to set up my teaching business. From my background in Account Management I have learned how to manage business relationships, and other aspects that can contribute.
One thing I have found very useful is SWOT analysis. This stands for Strengths, Weaknesses, Opportunities, and Threats. The idea is that you look at yourself in relation to starting up your business and your ability to do achieve what you need to (Teach and get paid for it). You simply identify things and list them in each category. For Example:
- Strengths: 15 years playing experience; Rock/Blues/Pop/Funk
- Weakness: Minimal Classical & Jazz; Sight Reading not great; no formal qualification
- Opportunities: Friends, Family, colleagues, Teach from home or mobile.
- Threats: Will the day job get in the way? Will the extra time spent doing this affect my family etc...
The idea is that you take confidence from and sell yourself on your strengths, use your opportunities, and you will soon be making money doing something that you enjoy.
Whilst you are at it you then take a look at those Weaknesses and Threats and you decide what needs to be done about them.
Repeat this process Weekly/Monthly/Quarterly/Yearly depending on your situation.
Just a note on pricing: Don't sell yourself short! I have spoken to other successful teachers and independent businessmen on this: You can price yourself low because you need the business and because you are low on confidence/experience but remember: if you are then successful you will find that the students/customers will want to stay with you because they are getting a good service for half the price that the competition are offering. You will then find it tricky to explain that you want to put the price up from £10 to £20!
The lesson is that setting the price right first time gives the impression that you know what you are doing and wont harm your business going forward. Do some research and find out what everyone else in the area is charging. If you feel you have to, you can under-cut them by a pound or so.
Happy SWOTing!
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2/19/2006, 12:20 pm
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barryhunt
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Re: SWOT Analysis
Just out of interest - I use Swot with my students and find it a simple way of helping them to understand how to move on!
Remember to use the Swot in reverse to achieve goals - i.e Try to remove the THREATS that will enable us to take the OPPORTUNITY to turn the WEAKNESSES into STRENGTHS!!
it can, and does, work.
Barry
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10/11/2006, 10:05 am
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jrvipond
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Re: SWOT Analysis
Interesting... I've just been reading about that when writing my business plan. Never though about it when applying it to my or my student's playing. Thanks for the advice!
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6/11/2007, 4:38 pm
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August16
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Re: SWOT Analysis
Hey all,
I just joined this terrific site and find much comfort in it and in all the wonderful advice given. I just started a guitar studio a year or so ago and it's doing okay, but I think that it could do much bettter on the financial end.
I was wondering, for those who have been pretty successful with their teaching projects, how do you handle the payment process? Well what I mean is, we charge 100.00 per month for 4 1/2 lessons, one 30 min lesson per week. The problem is that since everybody starts at a different time whe they sign up for lessons, I'm getting payments all over the place, when I'd prefer to give everyone a set date to pay each month. Am I making any since here? I'm not sure if this can be done. I'm sure I sound lost...THAT'S CAUSE I YAM!!! HELP!!!
I've been playing and teaching guitar prefessionally for 26 years, however most of my teaching wasat colleges or schools and never on my own. I was a music major and NOT a business major and I fear the worst if I don't get a handle on the business end soon.
Getting students I'm happy to say, is not too much of a problem ( sometimes it's slow) but for the most part, okay. However, I don't feel very competant on the business end of things and so any help or advice, would be greatly appreciated. Please!!! I have got to get organized. Any suggestions on how?? Thanks again.
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7/7/2008, 3:57 am
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gorehound1313
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Re: SWOT Analysis
When I did my Business Plan, my research showed the range for Professional Guitar Teachers was $30-$60/hr. Be sure to let clients know why you are better than the next guy charging $20/hr. E.g. I include all TABs, song-sheets, exercises, a video recording of any demonstrations and Jam-Tracks for them to practice with.
For keeping track of payments, I keep recipe cards for each student with the date, and what was covered in the lesson. When they pay for the month, I draw a grid with 4 blocks and check one off every week.
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2/11/2009, 9:44 pm
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kommodius
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Registered: 04-2009
Location: Mount Barker, South Australia
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Re: SWOT Analysis
I charge $10.00/ half hour lesson.
I teach 4 or more kids (primary school) at a time.
I have 150 kids on my regular (during school hours) timetable.
I have a few (selected) after hours students (at a higher rate).
I work a 40 week year.
With gigs and royalties on top I feel fairly comfortable.
Work smarter folks, not harder.
--- http://www.myspace.com/raysmithmusic
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4/23/2009, 5:17 pm
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MikePhilippov
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Registered: 11-2007
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Re: SWOT Analysis
Very interesting approach. This goal oriented approach to teaching is very effective.
Ps. Jonathan, good to see a fellow Elite Guitar Teachers Inner Circle member here
--- -Mike Philippov
http://www.mikephilippov.com
http://www.thenextstepguitar.com
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6/2/2009, 9:48 am
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