Pros: occasional training, free dancing (or money, soon), the "glamour"
Cons: hard work, doesn't help advance your dancing, mixing-business-and-pleasure
No, no.
Yes, because I got bored with it. And they started asking me to teach.
I'd recommend doing it for any early-intermediate dancer, but most people only stick it out for a year or two. There are some honourable exceptions, of course (Rafael, Clive, etc.).
Bookmarks