What Do You Want to Earn
What Do You Need to Earn?

This is a lot like catering to kids: what do they really need and what do they want? This question is important in your business, too.

It's vital for you to sit down and figure out how much income you -need- to earn from your business to take care of the goals and responsibilities you have. Get out a pencil and a calculator and look at the family's average bills, your savings for quarterly tax payments, your contributions to your retirement plan, the children's education funds, church/charity, and so on.

Anything more than this amount is gravy.

This doesn't mean that you should earn only enough for your needs. By all means, go ahead and earn as much as you like!

Be careful, though, that your studio doesn't take over your life. Make time for your family. You should have friends and interests other than music. A lot of family friction and personal anxiety occurs when someone lets a job be a full-time occupation, to the exclusion of other things.

Your studio shouldn't take over your home, either. Friction is caused when your business impinges on your family's space, when teaching gear and supplies are all over the home, and so on.

Keep mentally and physically healthy by not being driven primarily to earn a buck. Make what you need to and then ask if the extra "drain" on you is commensurate with the added income. It may not be.

copyright 2001, Martha Beth Lewis, Ph.D.
Contact me about reprint permission.

Piano Home Page | Pedagogy Topics | Home Page