MSSTV Episode 12 – Show me the Money! Managing the Finances

Wendys MusicMusic School Success

Show me the Money! Managing the Financial part of your Music School or Studio

No matter the size of your Music School or Studio, it is important to keep your eyes on what is happening in financial terms. Big companies have a dedicated financial manager, but music studio owners need to be a “jack of all trades” and understand the essentials to avoid financial problems occurring.

Task such as:

  • Book keeping or recording transactions,
  • Managing Banking
  • Processing payments
  • Paying bills and suppliers
  • Planning and strategising
  • Reviewing and monitoring
  • Collection and payment of taxes

 

It’s never too early to set up systems that provide consistent and reliable management of all things financial, starting most likely with good financial software.

 

 

This episode will outline some of the tasks that will help you keep control of your financial management.

As you monitor your finances, remember that as a business owner you also need to manage the other business divisions such. More information can be found here:

Managing the Legals

Intellectual Property for Music Schools and Studios,

Overview of 8 Business Divisions for Music Teachers.

 

To make it easier for you to take action on these financial tasks, we have provided a pdf version of this presentation.

DOWNLOAD HERE

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I am passionate about encouraging and inspiring people to begin to experience the heart filling joy of making music in a simple, easy and systematic way, enabling them to enrich their lives and the lives of those around them.

 

Wendy Brentnall-Wood

(Founder of Wendy’s Music)