Owning a dance company: 8 mistakes to avoid
Owning a dance company is not all glitz and glamor. You need to be prepared and know what you're getting yourself into. It is difficult to make it in the dance industry and chances are that, at some point, you will find yourself making some mistakes. Owning a business can be challenging.
There are so many decisions to make and things to do on a daily basis, you might not even know where to begin. This is just as true for a solo studio owner as it is for owners of large companies.
Whether your goal is improving your local dance studio or opening up a new dance school, you need to enter the journey to business ownership knowing what you are getting yourself into because it is no easy feat.
This article can come in handy for tips on how to avoid 8 of the common mistakes that owners make.
Mistake 1: Not planning for growth
A dance company is a business, and like any other business, it needs to grow. If you're not planning for growth, you may find yourself in a position where your company is stagnant and unable to meet the needs of your clients or performers.
Whether you're starting a new company or hoping to expand your dance company, not planning ahead could be one of the biggest mistakes you can make.
You should have a clear idea of what it will take to grow your business, as well as how you'll finance that growth. If you're not sure how much it will cost, or what kind of revenue will be needed to support such an expansion, start getting those numbers together now.
Mistake 2: Not being clear on your brand identity
Your brand identity is more than just the logo on your website; it's also the way people perceive your company. You can't expect them to understand what you do if they don't know who you are. You need to be able to communicate who you are. The mission statement alone is not enough.
Your brand identity should include the following:
- What makes you different from other companies in your niche?
- Why should people choose you over other companies?
- What is the tone of voice that represents your company?
- What kind of language do you use when writing content or communicating with clients and students?
The more clearly defined your brand identity is as a company, the more likely it is that everyone involved will be able to stay focused on their roles and responsibilities in achieving that identity!
Mistake 3: Having a bad marketing strategy
A good marketing strategy is crucial to your success. It will determine how you reach your audience, what they know about your brand, and how they feel about it. But even if you have the best marketing strategy in the world, it won't do any good if you haven't considered all the options available to you. One of the most important parts of owning a dance company is marketing.
Without a solid marketing strategy, it's nearly impossible to bring in new clients and retain old ones. Here are some tips to use when it comes to your marketing strategy:
- Start figuring out who your target audience is, then deciding how you will reach out to them.
- Determine what your target customers want from your brand by doing research on your target market.
- Having an online presence is one of the very important strategies to be successful in today's world because no one wants to talk on the phone anymore or go into stores. They want everything at the touch of their fingertips which means that if your company isn't online, then it will not get noticed by potential clients or customers who might be interested in what you’re doing with your business overall.
Mistake 4: Not keeping up with technology
Technology allows you to reach your audience and connect with them in ways that were impossible even just a few years ago, and being able to use technology effectively is an important part of running any business.
That's why it's so important to make sure that you're always looking for new ways to incorporate technology into your business practices.
Incorporate technology into your dance business. Sometimes it gets hard to manage different platforms you use for your business. You have to keep track of what's happening on your website, how many students are signing up for classes and paying, and how much money you're bringing in from your various sources.
With Versai, all this can be taken care of in one place, with no hassle or confusion. If you haven't already heard about Versai, it's a new platform that helps businesses (including dance companies) grow faster by making it easy to set up a website and accept payments online.
It's pretty simple: in less than 30 minutes, you can have a beautiful website with a sleek design, plus a way for people to pay for classes so they can start taking lessons right away. And when they do pay, the money goes straight into your bank account—no more waiting for checks to clear or bouncing checks to deal with!
Here’s how Versai could help your business grow:
- Your website will look great and be easy for people to find online
- More potential students will sign up for classes with you, which means more revenue coming in every month!
- People who sign up for classes will be able to pay automatically each month
If this sounds like something that would work well for your business, go ahead and give it a try!
Mistake 5: Being too afraid to stand out from the crowd or be unique
If you're too afraid to make mistakes and learn from them, you'll never be able to grow your dance business into a thriving enterprise. The only thing that matters is that you maintain integrity and honesty in all of your dealings with customers. You have to choose your battles carefully, but it's crucial that you don't let fear of failure hold you back from pursuing opportunities that will help your business grow.
Don't be afraid to walk away from projects that don't feel like they fit with what you want for your company.
If something doesn't seem right for your brand, it probably isn't going to work out anyway. Don't waste time or money trying things that don't make sense for your company—focus on those projects that do! Remember that there are no rules when it comes to creativity—you can take risks and try anything!
Mistake 6: Failing to get outside feedback
It's easy to get caught up in the day-to-day of your dance company, and it's even easier to stay focused on your own work. But when you start to notice that your talent is starting to dry up or you're struggling to keep up with the competition, it's time for a reality check.
You need to take a step back and make sure that what you're doing is still effective. Get feedback from others who are skilled at what you do.
This can be as simple as asking an experienced choreographer or dancer for advice about how they would improve your dance company's process or structure—or it can be more involved, such as hiring someone who has worked in the industry before with similar goals and needs as yours.
Mistake 7: Offering one-size-fits-all services
One of the biggest mistakes you could make as a dance owner is to offer one-size-fits-all services in your dance business. This will leave your business on shaky ground. When your clients don't receive personalized care and attention, they are more likely to abandon their training or drop out of your classes altogether, which means they won't be able to continue with their progress—and that means they won't be able to reach their full potential as dancers. Give them the option to customize their services based on what they need most.
For example, your dancers are having trouble learning how to do a certain move or routine. If they come in and say they want to learn something else, don't be offended! Instead, work with them to create a customized program that caters specifically to their needs. This will help ensure that everyone gets exactly what they need from you and helps prevent any misunderstandings about what you can offer.
Mistake 8: Overextending yourself and under planning
You can't possibly be everything to everyone, and if you do, you'll burn out. Don't try to produce every show in town or take on every choreographer—and definitely don't take on every choreographer who comes knocking on your door. It takes time and energy to grow a dance company, so make sure you have both before starting.
The most successful dance companies have long-term plans for their business rather than just thinking about the next show or hire. It's important to have a vision for where you want the company to go for yourself and your artists, but also consider whether or not this is even possible at this point in time (if it isn't, don't commit to it).
Having a dance company is also incredibly rewarding—you get to work with people who are passionate about dancing and music, and who are talented enough to make it big in the world of dance. It could be overwhelming and it is definitely not easy, but it doesn't always have to be this hard. Start small, think big.
With this in mind, spread the word! Show your dance school to as many people as you can. Don't be overwhelmed by the number of things you need to complete. Make a plan and stick to it. This is a quick list and we hope this will help you avoid some of the common pitfalls. If not, so be it.
The more mistakes you make, the smarter you get!