April 2024 • Volume 3, Issue 3

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Welcome

“All we have to decide is what to do with the time that is given us.”

—J.R.R. Tolkien

Ever wish for more time in the day? Or week, or month? This is the issue for you!

Concerned about the “right time” for financial planning? Start with the Spotlight article by Heather Smith, who examines financial planning at different stages of life.

Overwhelmed with daily studio tasks? Andrea Miller shares ideas on when/why/how to hire an assistant in the Life-Work Balance section of this issue.

Our featured entrepreneur is Jeeyoon Kim, who clearly has excellent time management skills that help her sustain a diversified career portfolio of performing, teaching, podcasting, writing, speaking and more.

Don’t have time to create assessment activities for your students? Check out Timothy Stephenson’s survey of piano exams in Resource Gems.

And sometimes it’s the quality of time that is more important than the quantity. Explore this idea more in Ashley Danyew’s book review of Deep Work.

Update: In the previous issue I noted the Corporate Transparency Act, a new federal regulation, that went into effect on January 1, 2024. As a service to members, MTNA has compiled a “Quick FAQs” resource to assist those members who are incorporated to comply with the new regulation. Additionally, the MTNA attorney has prepared a guide specifically for MTNA members and affiliates.

I hope the resources in this issue will enhance your personal and professional productivity. Time will tell.

“The bad news is time flies. The good news is you’re the pilot.”

—Michael Altshuler

Karen Thickstun, NCTM

MTNA Business Resources Coordinator

♪ Just a Note: For those who have an interest in the topics below, links are provided at the bottom of many of the Digest articles to take you to various MTNA Business Resources sections of the MTNA website.

In the Spotlight

Financial Planning for Music Teachers at Different Stages of Life

Heather Smith, NCTM

Navigating the landscape of financial planning is an essential aspect of a music teacher’s professional journey, characterized by self-employment, limited working hours and irregular income streams. When and why should a music teacher engage in financial planning? Read more.

Bonus: Five Steps for Creating a Financial Plan

Heather Smith, NCTM

Creating a financial plan is a crucial aspect of managing your money effectively, regardless of your age or career stage as a music teacher. Read more.

Meet the Entrepreneur

Jeeyoon Kim

Jeeyoon Kim is a classical pianist, author, podcaster, YouTuber and independent teacher in San Diego. She is passionate about creating classical music relevant to the 21st-century audience. For this short video, Kim was asked to describe her current career and entrepreneurial projects while sharing key steps that she would suggest to others hoping to follow a similar path. Learn more about her projects at jeeyoonkim.com. Watch video. Read transcript.

Life-Work Balance

Is It Time to Hire an Assistant?

Andrea Miller

As music teachers and studio owners, we often wear many hats. We plan lessons, research new music, answer phone calls and emails, maintain our websites, do bookkeeping, keep up with social media, promote new programs, practice, attend conferences and workshops, plan recitals and more. Overwhelmed? Overscheduled? Read more.

Top Five

Top 5 Time Management Tips

Karen Thickstun, NCTM

An article about time management should not take a lot of time to read. So here it is, short and simple: five strategies for time management. Or depending on how one numbers them, there are eight “ate” strategies. Read more.

Legal Landscape

Business Insurance 101 for Music Teachers, Part 3: Professional Indemnity

Deborah H. How

Insurance is an essential part of running any business. This four-part series takes a deeper look at insurance for music teachers. In this issue, Part 3 continues with a focus on professional indemnity and sexual abuse and molestation insurance. Read more. Click here for Part 1 (overview) and here for Part 2 (general liability insurance).

Resource Gems

Keep Your Students Organized and Motivated with Piano Exams!

Timothy Stephenson

Looking for ways to engage your students? When utilized well, piano exams can be a helpful tool to keep students motivated, teachers organized and parents confident in their children’s piano journey. Read more.

Looking for a Good Read?

Deep Work by Cal Newport

Ashley Danyew

Ashley Danyew, Ph.D. is founder and editor of Musician & Co., equipping classical musicians with the tools and education they need to be entrepreneurs and small business owners. Check out her free book club.

Author and computer science professor Cal Newport has much to share on the topic of work, focus and time management in his thoughtful, actionable, well-researched book, Deep Work: Rules for Focused Success in a Distracted World. Read more.

Heads Up

• I hope you were able to join us at the MTNA National Conference in Atlanta, where Business Network members presented a session called “Studio Refresh! Essential Business Topics to Revisit Annually.” You can grab our handout here. We also enjoyed hosting a table in the lobby where attendees could “ask us anything!”

• Would you like to contribute to a future MTNA Business Digest? Contact Karen Thickstun at mtnanet@mtna.org with any ideas or questions you may have. We’d love to hear from you! Guidelines for submission

• We invite you to share the MTNA Business Digest as a resource for the readers of your local or state newsletter, blog, website, webpage or on social media. Digest Archives can be found by clicking here.

• MTNA offers its sincere thanks to all those who contributed their insights, knowledge and experience in this issue of the MTNA Business Digest.

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