Even MOZART Had to Change his Business Model!
And if Mozart can do it, so can you!
I recently came across a screenshot with two key excerpts of letters Mozart wrote to his father in 1782 regarding the business challenges with his teaching. As the paragraphs below indicate, Mozart struggled with an hourly rate model; people wouldn't show up, and so he wouldn't get paid. He solved the problem by switching to a simple flat monthly tuition model. With this switch, he was even able to earn more than enough with fewer students, even if they cancelled at the last minute.
Wish to be more like Mozart in your business?
What's holding you back from doing something similar? What if you could develop a business model that's more like a college or conservatory where you have built-in vacations and you're still paid even when the students don't show up? What could your service look like if you had, like Mozart, a smaller number of students willingly paying you way more? What could you offer in the package to make the value proposition worth it? Also, how it would feel to know you are delivering an experience and results that are worthy of a more premium fee?
IF you mostly operate along the traditional school year calendar, but you want the consistent income year round, one of the more optimal ways is to simply charge annual tuition paid in monthly installments. Especially if you’re serving clients who will be making a multi-year commitment, get away from selling your services by the hour and start to think of what you’re doing as being no different than anything else that charges tuition. In the tuition model, you could include a set number of lessons packaged with related experiences, perks or benefits, just like a college. It can be that simple; don’t overthink it!
With a tuition model, you could even make summer lessons optional. OR you could create a summer self-study practice program and/or package your lesson experience with something else that’s worth still giving yourself much of the summer off as you still get paid. You just have to think about how you can create a TOTAL package experience that makes paying you over the course of a whole year worth it to the right people. That’s IT!
Do you need some ideas on how you can charge more? Here is my list of 24 Ideas to Charge more in 2024. If you’ve been thinking about creating premium “VIP” options for your services, or if you’re just looking for fresh ideas to create more value in ways worthy of a premium fee from those willing to pay way more, the following list is for you.
24 Ideas to Charge MORE for your studio!
1. VIP Priority or Early Access Scheduling
2. Same-Day, short-notice, or extra-advanced scheduling
3. Extended Hours (Beyond normal hours for the “beyond normal” clients!)
4. Lenient canceling/rescheduling policies (e.g. build the make-up lessons into the tuition price!)
5. Time buffering for additional flexibility
6. Time buffering for additional privacy
7. Other confidentiality measures (Non-disclosure agreements, email aliases, pseudonyms, secret off-site location, etc.)
8. Valet service, prepaid parking, and/or other logistical measures
9. Offer customized payment arrangements (IF you’re still getting paid on time!)
10. Open Office Hours (regular live Q&A, etc.)
11. Additional access to facilities during or outside normal hours (For practicing, recording, other work, etc.)
12. Additional virtual support on demand (Email, Text Messaging, Voxer, etc.)
13. Emergency phone call privileges
14. Custom reminders, updates, or status reports
15. Miscellaneous “secretary” duties (Help with paperwork and other materials, hold on to or mail out important materials for them, or simply offer business accommodations, e.g. access to a working printer or copier on site for one-off print jobs.)
16. Give them a customized curation of books and materials
17. Access to your physical or digital library (and/or offer a custom curation of online resources related to your work or the materials you recommend)
18. Include in the “package” any other related product, service, or activity they would otherwise pay for elsewhere (Give them fewer transactions to think about, collect a convenience fee for it!)
19. Help them find complementary service providers they can trust (Coaches, mentors, accompanists, tuners, repair technicians, VAs, agents, etc.)
20. Offer to review and give feedback on their websites, social media, books, videos or other materials.
21. Attend their live events, auditions, performances, etc. (for additional support, help them warm up, etc.)
22. Offer to be their guest or let them be your guest on a podcast, live social media, etc.
23. Offer to feature them in your newsletter or refer them and their services to your own network or mailing list.
24. Ask them to name anything else you can reasonably do to support them (Make sure it's within the scope of your expertise and business, and if necessary, state an even larger fee to make it worthy of all your time and energy!)
You don’t have to do all 24. Just one or two might be all you need. They won’t all work for everyone in every situation. But even just a few additional benefits or accommodations can be more than enough to justify a huge pay bump from those who would appreciate it. And most of the above won't have to cost you much of anything out of your own pocket; anything you would have to pay can be recuperated by including the expense in the premium fees.
Remember that even one less thing for them to think about could be worth lots of dollars they will gladly pay.
If you'd like further help brainstorming what's possible, or you want help implementing a new business model and figuring out what’s holding you back, send me a message. Half the battle is getting comfortable believing the right people for you will want to pay you more for the right curation and quality of experiences.
Why is earning more so hard for us?
I've discussed this in many ways in my earlier post, as I’ve been trying to figure out an easy explanation to this phenomenon. There are arguably two major ugly truths we uniquely have to deal with substantially more than in other professions.
One is that we're in a society where far too many don't value the arts, or if they do, someone else should have to pay. And the other is being in a system that causes far too many to willingly sacrifice getting paid enough for a myriad of reasons.
Because of these two inconvenient truths, it makes an artistic career, as well as a business in or related to the arts, all the more difficult to garner support from many others—unless you’re already perfect and don’t need support!
We have to be willing get out of the rat race and make different choices as far as how we present ourselves and what we have to offer, including to whom. We also we have to develop rock-solid confidence in the value of what we offer. AND we need strong boundaries to mitigate one of our biggest business risks: the subconscious desire to please and appease others. This is why personal development with a coach or a mentor and continuously working on your mindset is an essential ingredient to long-term career and business success.
Want to Make a Lasting Mindset Shift?
There is no overnight magic blue pill to developing an empowered mindset to withstand these ongoing money and business challenges. But the value systems and beliefs that have informed our thinking and behaviors around money and business since childhood run deep in our subconsciousness.
Many span multiple generations; hence I mentioned in the earlier post why it still sometimes feels like the 1950s when it comes to how too many are expected to be paid. The subconscious programming doesn't go away without extended studying and deliberate practice. It's a form of mental fitness, and it’s not much different from improving your physical health or getting better at singing or any other skill and undoing the bad habits.
This is why I offer private coaching and immersive group opportunities, so you can safely explore and consider new and empowering money and business perspectives.
Send me a message if you’re interested in exploring further how I might be able to help you. Or check out this list of equally amazing mentors.
Double PS:
Click here to check out my 2021 interview with Nico de Villiers on the What Would Mozart Do? Podcast!
Great advice! The tuition model has been a great relief for both me and my students. It also saves a TON of time scheduling and billing. More freedom for everyone. LOVE your 24 ideas! Thanks for sharing them.