Music and the Brain (MATB) is a program of the nonrofit Building for the Arts NY. The program mission is to bring music literacy curriculum and classroom keyboard instruction to schools with underserved students, helping them build cognitive and fine motor skills to succeed academically and in life. MATB does this by equipping teachers with the materials and training they need to teach classroom piano lessons. Curriculum framework and professional development gives teachers the ability to teach piano to even the youngest students and improve the lives of underserved children.

My project was to evaluate new revenue stream opportunities, select the most viable one, and develop a business model and execution strategy for the revenue stream. More specifically, my objective was to help MATB pivot during COVID-19: the program had been financially supported by the larger organization, which earns revenue through off-Broadway theaters. With businesses shut down during the pandemic, MATB was in dire need of a new revenue stream.

My Columbia Business School education enabled me to think about the project strategically – we were able to set short- and long-term goals and evaluate the likelihood of success for each potential revenue opportunity in a structured manner. I put in place a timeline to make sure we stayed on track. I also used a strategy consulting framework I learned in Professor Ava Seave’s class, Media Consulting Projects. To accomplish the project objectives, I interviewed various stakeholders, conducted competitive analysis of similar programs, extrapolated conclusions from program data, reviewed MATB’s financials, and created an execution strategy for the new revenue stream.

First, I conducted 14 interviews with stakeholders and potential customers such as teachers, school administrators, and industry experts. I analyzed interview data and noticed a few trends that helped me make recommendations for potential revenue streams. One idea was to pursue a subscription model, another potential revenue opportunity was expanding the customer base to include private schools that were able to pay for the program, and third was to pursue institutional funding such as grants. I then analyzed the program’s competition. An advanced marketing strategy course taught me how to conduct competitive analysis, and I used tools such as perceptual maps, SWOT, and Porter’s Five Forces to evaluate opportunities and threats MATB faced. I learned that MATB was uniquely positioned to offer high-touch low-cost service to teachers. Next, I reviewed analytics data from the program site and program financials. I concluded that MATB was best positioned to continue serving its current customers: teachers teaching at underserved schools. At this point I was able to eliminate two out of the three potential revenue streams: the “subscription model” and the “paying schools” ideas. Lastly, I focused on institutional funding as a revenue stream and created an execution strategy for it. After doing a cost-benefit analysis, I proposed creating an e-learning platform to give the teachers online tools they could use during COVID. Institutional funders were looking to sponsor nonprofits that came up with a new way to pivot during the pandemic, so we had a clear path to grant revenue. I finished the project by creating not only a strategy deck but also a funding pitch deck to make sure MATB had the tools it needed to continue implementing the project strategy.

I learned more from this fellowship than I have from any of my classes. One major takeaway was the importance of focusing on deliverables and action items. In school, we generally work independently and can manage our tasks and projects without much structure. In a small business, especially a nonprofit, it is critical to be clear about next steps and desired outputs. This focus ensures that the team functions effectively and that the organization moves in a positive trajectory. I also learned about the challenges nonprofits face. MATB supports underserved students through teacher’s professional development programs, but because the program is practically free, MATB has to offset operational expenses through institutional funding and employees must spend a significant amount of time and effort fundraising and grant writing. Nonprofits do critically important work, but the challenges associated with delivering and sustaining service programs are immense.

This fellowship was an exciting and challenging learning experience. I am deeply grateful to the Tamer Center for Social Enterprise and its donors for supporting me and the Building for the Arts NY this past summer.