Hands down, the biggest reason why every kind of small business goes belly-up (including guitar teachers) is because of MONEY. Not staying on top of your income and expenses can get you into all kinds of trouble, including tax problems, not being able to pay your bills and not being able to keep your teaching business open. The solution is an amazing age-old forecasting tool called a BUDGET.
In this episode, I’ll explain what a business budget IS and why you need one for your teaching business. I’ll also explain how to put one together and how to USE it to predict the future. I’ll even throw in a spreadsheet I put together that will help you keep track of your teaching business budget and help you avoid getting burned by cash flow problems. Budgeting is really cool once you catch a vision for it and it can cover your butt in numerous ways as a business owner!
This PREMIUM episode of the Start Teaching Guitar Podcast is available exclusively for STG All-Access members!
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