October 2022 • Volume 2, Issue 1
Welcome
Financial stability is fundamental to all independent music schools and studios. This issue of the MTNA Business Digest focuses on multiple areas of financial health, including the reasoning behind what we charge, the financial benefit of group lessons, how to attract more students through our websites, tips for financial security, a CPA’s answer to questions about finances and taxes, and an overview of MTNA’s Business Resources. We close with a review of a book that focuses on finances, budgeting and business matters for artists.
Beth Gigante Klingenstein, NCTM
MTNA Business Resources Coordinator

♪ Just a Note: For those who have an interest in the topics below, links are provided at the bottom of many of the Digest articles to take you to various MTNA Business Resources sections of the MTNA website.
In the Spotlight
“What Do You Charge?”
Kenneth Lee

The fear that the answer you give to this question will lose a desired prospective student may be the most important reason independent music teachers sometimes hesitate to charge a professional-level fee. Read more.
Meet the Entrepreneur
Group Lessons...
Alyssa Haffner

Wondering how to begin offering group lessons? Alyssa Haffner shares a few of her successes, failures, and surprise from when she began offering group and lab piano lessons at her studio.
Technology Tips and Tools
How to Get More Students to Contact Your Studio
Daniel Patterson

There is a lot of advice given about how to get more students for your studio. Many recommendations are offered: Facebook ads, social media marketing, Google marketing, referrals and even word of mouth. These are important tools for getting people to discover your studio. But, none of them are as important as your website. Read more.
Top Five
Five Things Every Freelancer Needs to Know About Finance (Including Teachers!)
Tom Rizzo

Independent music teachers, owners of independent music schools and free-lance performers can all feel overwhelmed by the challenges of short and long-term financial planning. At times, it can seem almost impossible to get out of debt or start saving for retirement. This Top 5 list highlights five important ways to strengthen one’s current and future financial health. Read more.
Legal Landscape
Taxes for Small Business Owners (Including Independent Music Studios/Schools)
Dave Walker

As a tax preparer and enrolled agent, I am asked quite often about taxes related to small businesses. Here are some of the most frequent questions that I’m asked pertaining to small business owner taxes. Read more.
Resource Gems
A Treasure Box of Resources to Help Your Studio Thrive
Jennifer Foxx

Did you know the MTNA Business Resources section of the MTNA website has a treasure box of business resources at your fingertips? It is literally a revolving treasure box that gets updated each quarter. Yes, you heard that right! This is not a “one-stop visit and move on” feature on the website. MTNA understands the ever-changing demands that music teachers face. So, they have built a team to help you meet your needs and provide you with a vast collection of resources and continue to update based on current needs. Read more.
Looking for a Good Read?
Arts & Numbers: A Financial Guide for Artists, Writers, Performers, and Other Members of the Creative Class by Elain Grogan Luttrull
Timothy Stephenson

We artists and teachers love what we do, but how can we make a sustainable living without getting frustrated, perplexed or intimidated by the financial aspects of our work? Written for entrepreneurs in all creative fields, Elaine Grogan Luttrull’s Arts & Numbers is an accessible, easy-to-read guide to the financial needs of creative people. Read more.
Heads Up

  • Would you like to contribute to a future MTNA Business Digest? Contact Beth Gigante Klingenstein at mtnanet@mtna.org with any ideas or questions you may have. We’d love to hear from you! Guidelines for submission.

  • MTNA offers its sincere thanks to all those who contributed their insights, knowledge and experience in this issue of the MTNA Business Digest.

  • The MTNA Business Network would like to:
  • Welcome new members Jennifer Foxx, Deborah How, Andrea Miller and Timothy Stephenson
  • Offer sincere thanks to departing members Amy Chaplin and Lynette Zelis, NCTM
  • Extend heartfelt appreciation to returning members Beth Gigante Klingenstein, NCTM; Heather Smith, NCTM; Jennifer Stadler, NCTM; Jennifer Walschap and ex-officio members Gary Ingle and Karen Thickstun, NCTM