065 - Andrea Miller on Incentives at Work in Music Studios

A couple of weeks ago I aired an episode with Ryan Benthall about different lead generation platforms like TakeLessons.com and Thumbtack. After hearing Ryan talk about the different platforms and the business models behind them, my economics nerd radar was buzzing. This was a perfect illustration of incentives and how they influence consumer and business behavior. I hope today's episode, I'm doing a deep dive econ case study. We'll be looking, primarily at TakeLessons.com, as an example of incentives at work. We'll look at how incentives influence user behavior and outcomes, what happens when the business's incentives and the user's incentives are misaligned, and of course, we'll be talking about why this matters for us as music studio owners. A full transcript and show notes can be found at musicstudiostartup.com/episode065