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

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:

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

USI

MUSIC SCHOOL SUCCESS BLOGS

Subscribe to receive the latest episode of Wendy’s Music School Success TV with Teaching and Business Tips
Wendy Brentnall-Wood

Wendy Brentnall-Wood

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.

RELATED BLOG POSTS

Rhys Lett

Rhys is the director/owner of the Eastern Suburbs School of Music in Boronia and Carrum Downs, suburbs of Melbourne, Australia. He is also a guitar tutor and a music educator for 26 years. Rhys taught in a lot of different spaces, in private music schools, state primary school and as well with refugee

Read More »

Mat Creedon

Mat Creedon is a multi-Instrumental Teacher @ Mat Creedon School of Music. He has been teaching music for 30 years now. He also has a private studio in Balwyn North (Melbourne, Eastern Suburbs) and teaches total beginners, as well as intermediate & advanced students. Mat teach most instruments as well as some sound healing and meditation practices.

Read More »
No more posts to show