Episode #13 – How to Eliminate Threats in our Industry

 Three things to focus on right now:

  1.  Creating an Experience for your Students
  2.  Embracing Technology
  3.  Attracting the “right” customers

Listen to “How To Eliminate Threats In Our Industry” on Spreaker.
* Threats to our Industry…we must constantly look to get better and change.  Either your growing or dying.

podcast

Peter Diamandis (Abundance 360)

Countown to Singluarty List

 

Thriving Disrupter Companies

Netflix, Uber, Amazon, Apple, Google

 

Defunct Slow to Change Companies

Virgin Records, Blockbuster, Kodak, Borders Books

 

The Experience – You can’t buy an experience on Amazon

  • What is your why?
  • Are you teaching only the notes? Or are you teaching that music and art is a substantial part of who we are as a society and culture? The history of music?  The history of rock? The history of Jazz? In a way each student would love to hear about it? (Custom tailored per student)
  • What is tying your studio’s culture together? Are your students meeting each other?  Parties? Concerts? Camps? ANYTHING!?
  • Short attention spans
  • Musical tastes (changing globally)
  • Cultural shifts and general musical consumption (no hero’s)
  • Teaching vs Mentoring and Coaching (Flipped Classroom)
  • Budget Cuts

Technology

  • Flipped Classroom Model
  • Music and arts Lessons Technology is out there and growing everyday and trying to take all of your market share if it can.  They are taking the in person mentor out of the equation.
  • Streaming (spotify, apple, tidal…etc.)
  • YouTube
  • Guitartricks.com
  • Drumeo.com
  • Masterclass.com
  • Ultimateguitar
  • Video Lessons
  • VR Ai AR

Customers – Do you have the right ones?   

  • Low Maintenance birds of feather customers with great spirits that understand your “Why” will never steer you wrong.
  • High Maintenance customers will always be in the way. Are you a service?  They think you are. CHANGE THAT! If you dont they will bring their friends and then you’re truly up the creek.
  • Chasing Tuitions (Must Automate)
  • Make-Ups (Minimize inconsistency)
  • Time (Value you and your Teachers’ time so you can provide a better experience for your students.  Too many studio’s only value the student’s time and not their own or there staff which ultimately hurts the students.

 

What do you do if you already have the bad apples?  Create such an amazing experience that you always have the leverage you need to protect your studio as a whole in regards to personalities who will destroy it. You have this choice