Katie and I talk about the pros and cons of in-person to online teaching or coaching, why it makes sense to expand your business online and how to make that pivot.
A lot has happened in the last year and whatever you were doing as a musician, you had to shut it down. None of us really want to go through that uncertainty again where the bulk of their income gets strip from them or they have to make dramatic adjustments due to the circumstances. Online teaching or coaching gives you so much freedom and we’ll talk about the pros and cons.
You can grow easily with in-person rather than online teaching or coaching especially when we talk about referrals, but it is limited to the location or area. It’s great because you have the flexibility and you can successfully grow without social media presence, but you can get capped due to the limited number of people in the area or the limited time we can offer. You can get to the point where the only way you can grow is to raise your prices or hire someone to work for you but you may not want to manage another person, or you may have to work a lot of time and that could lead you to burn out. Your location may also limit how you can raise your prices, such as feeling pressure from other businesses in the area as to up to what prices you can only dictate. Another limitation of in-person is whether you have the infrastructure to start your own studio. There are basically so much things to consider.
Starting your business online will feel like starting a whole new business. You will have to build up your online presence, but the benefits of doing your business online is outweighs the cons. I did have an email list and social media presence due to my work at Women of Substance Radio and that is a headstart you can leverage, plus the connections you make. It is also true that you can have more freedom with your time, where you can travel and balance time you spend working.
Another advantage of online coaching or teaching is you can literally start at $0 expense. This is not possible for in-person business. A common thing Katie and I did when leveraging their existing resources, is to invest and join an Accelerator.
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