“The only thing you cannot buy is time.” – and that is true for you too.
When you open your Art Studio, you are doing everything: teaching, managing staff, accounting and administrative work. But by doing all that by yourself, you will not have time to grow your Business.
The key to escaping from admin overload or endless teaching is to become an Entrepreneur with a goal to:
In order to achieve that you need to progress from being an Art Teacher to being an Entrepreneur. You need to delegate and free up your time from being an:
First, you need to get rid of some of the admin tasks in your business. You think “I can’t afford to give this to someone else” when the truth is you can’t afford NOT to. And this is why: admin tasks like invoicing, ordering supplies, responding to basic emails, and assembling newsletters are low value tasks. Of course they are important, but they are nothing more than $10-$20 per hour tasks. This is not something that you as a business owner should be doing. Imagine now that you get help for 5-10 hours a week to handle some admin in your business. That is 5-10 hours that you can spend on high values tasks, like marketing! That will increase the profit in your Art Studio!
You love to teach and also want to save money by teaching more classes. Before you know it you are preparing for classes and spending your limited time in classrooms. That will only generate the same amount of money and not grow your Art Studio. Not a good strategy. You need to bring in and train teachers to free up your time.
So, your hired admin staff and teachers. What’s next? You become a Manager. This phase is one that Art Studio Owners find challenging because managing staff is a whole different skill set: you quickly need to learn how to effectively:
As a Manager you can either:
1. Really step into the role of becoming a manager/mentor which in turn produces teachers and staff who are all about growing their skills and committed to your Art Studio and your families.
2. Let them do whatever they want. They rarely see you or speak with you so there’s no connection and they turn into that person who’s just showing up to get paid. If this happens, you’ll know it. You’ll start to have a high turnover and this is also when teachers think they could do a better job and open their own Art Studio.
One Big Shift. Hopefully you’re doing the former and your teachers and staff are giving awesome results for their students and the Art Studio as a whole. So, you start the journey of finding one or two people that can manage your Art Studio on a day to day level, like a Studio Manager (operations and business/marketing) and an artistic director (classes and creative ideas).
You need to focus on being an:
Being a true entrepreneur in your studio means that you get to work on “BIG” ideas to grow your net profit and net impact in your business. Sure, financial freedom is an outcome of reaching this stage but the most important thing is to be able to have more free time and seeing just how much more of an impact you can make on your students when everything else is taken care off. Don’t worry, you will still have plenty to do to grow your Art Studio!
Which one is you?
Where are you currently in your journey to becoming an Entrepreneur in your Art Studio? Now is the time to see what needs to be done to move you forward to reaching that place of being the CEO of your Art Studio.