Studio owners: what is the most important piece of advice you would give to someone considering opening their own studio?

Once you create a business plan and assess your ability to run a business and manage people, your next important step is to analyze your marketing and network abilities. Signage, business cards, fliers, brochures, and advertising in newspapers/magazines are just the basics tools to marketing/networking your business in today’s world of commerce. There are many questions you will want to ask yourself and answer before you proceed. Some of them may be: Who is my target market? What “brand” of studio am I creating? What is a successful and cost effective way to communicate my message and reach my pre-determined audience? Will I network with out professionals? If yes, how will I network. If no, why not? Do I have personal contacts that could be a source of referrals? Your answers need to be examined as you consider the idea of opening and running a successful studio.