Welcome to "Talking Business with Pete Barter," where we delve into the world of music education and discuss all things related to the music industry. In this column, I’ll aim to provide thought-provoking insights and motivation for individuals in the private music education sector. As musicians ourselves, we understand the creative spirit that drives us, and we recognise the unique privilege we have to positively impact young lives while enjoying fulfilling lifestyles.

The private music education sector is a thriving industry, contributing an impressive 500 Billion dollars annually to the global ecosystem from lessons alone. Surprisingly, this vibrant sector is primarily run by musicians who are often modest about their business acumen. The creative passion driving us may overshadow our business side, but it's time we recognise that we have the potential to be exceptional educators and entrepreneurs.

Us Educators are in a privileged position to do what we love while leading fulfilling lives. Simultaneously, we have the incredible opportunity to empower young minds and foster their growth through music. Music education bestows young learners with superpowers that aid them in becoming well-rounded individuals.

While the arts are celebrated for nurturing creativity, it is scientifically proven that learning music has a profound impact on overall cognitive development. Music education enhances learning abilities and improves cognitive functions, making students better learners in various domains. Numerous successful professionals attribute their achievements and fortunes to their early musical training.

In the private music education sector, musicians have a unique advantage of earning a decent above-average wage while doing what they love. As of 2023, the Australian median salary is approximately $79,800 (according to the Australian Bureau of Statistics), which highlights the promising potential for a prosperous career in music education.

For those following the MTASA's recommended teaching fee of $40 per 30-minute lesson, achieving a substantial income becomes attainable. To earn around $79,800 per year, a music educator would need to teach approximately 24 hours per week, (48 30-minute lessons per week.) This demonstrates how successful teachers can leverage their skills and passion to secure a comfortable income within the private music education sector. Think about group workshops,  online self guided training modules, self published learning materials or equipment. Plus gig’s.

Supplementing their earnings through performances and gigs is a common practice. Gigs, in particular, can contribute significantly to a musician's income, adding an extra $20,000 to $40,000 AUD per year on the lower end, depending on the frequency and demand for performances.

Achieving a $100,000p/y income or more from music education requires more than just musical proficiency; it necessitates business knowledge and an entrepreneurial mindset. Musicians who embrace these qualities are better equipped to thrive financially while doing what they love. By recognising the value of both artistry and business acumen, we elevate the professionalism of our "cottage industry," contributing to its growth and success.

As famously described by Malcolm Gladwell in his book "Outliers," the 10,000-hour rule suggests that it takes approximately 10,000 hours of practice to achieve mastery in a particular field. For musicians, this principle holds true, as mastering an instrument or musical skill requires an extraordinary amount of dedication and practice.

With over 20,000 hours invested in honing their craft, a seasoned musician has undoubtedly surpassed the 10,000-hour mark, solidifying their position as a masterful musician and educator. By sharing their wisdom with the next generation, they extend the value of practice beyond performance time, guiding aspiring musicians on their own paths to excellence.

In "Talking Business with Pete Barter," I celebrate the dynamic world of music education and encourage our fellow musicians to embrace their entrepreneurial potential. The private music education sector not only offers the potential for a prosperous career but also enables musicians to share their passion and knowledge with aspiring students, enriching lives through the power of music.

As musicians, we recognise the significance of practice, dedication, and the fusion of creative and business skills. By adopting a professional and entrepreneurial mindset, we elevate the professionalism of our "cottage industry." Even if earning substantial income isn't the primary goal, acting in a business-like manner contributes to the overall success and sustainability of the private music education sector.

Providing music education is not only essential for society's enrichment but also offers a fulfilling and rewarding career path for musicians. Through dedication to our craft, we attain mastery that paves the way for exceptional teaching and inspiring performances that resonate with generations to come. As we continue to nurture the next generation of musicians and music enthusiasts, we empower them to reach their full potential and embrace the transformative power of music.

Let's strive for excellence, both as educators and entrepreneurs, to shape a brighter future for ourselves and our students. Together, we can propel the private music education sector to new heights and make a lasting impact on the lives of countless individuals through the timeless art of music. By combining our creative passion with business acumen, we can unlock the true potential of the private music education sector and create a thriving environment for musicians and students alike. Let's keep talking business, sharing insights, and motivating one another to do better as individuals, ultimately elevating the entire music education sector and leaving a lasting legacy of success and inspiration for generations to come.

Pete Barter