The
Podcast

5 Transformational Mindset Shifts to Grow Your Yoga Business

This morning a remarkable woman emailed me. She was passionate…yoga had changed her life and she had given her life back to yoga. She started as a student, but that wasn’t enough. First it was a certification, then a passion that pushed her to leave a plush corporate job. But, her hard work wasn’t bringing in an income that she could live on. What was she doing wrong?

 

The truth was this amazing, educated woman was on the right path. She had checked every block towards success. Her body and practice was beautiful. But, her mindset hadn’t transitioned to that of a business owner, which she now was.

 

I see these emails almost every day. The men and women who reach out for help are some of the most talented people I’ve met. They’re driven to be better for their students, for their family and for themselves.   They’re such amazing teachers that they haven’t been able to step out of their practitioner mindset in order to lead their business.

 

And, as a small business owner, you have to fluidly step between a CEO mindset and teacher mindset.    This transition takes time, but there are five key shifts that must be a part of it.

 

  1. You are now the CEO.   And, CEO’s have to see the big picture and be able to make rational {read non-emotional, a hard one for me} decisions. The boundaries, decisions and leadership that you set in this position will determine your success.   But you’ll have to embrace this side of your work and accept that this comes first, because…

 

  1. It’s not just about teaching yoga anymore. It’s about creating a sustainable business that will support your family and lifestyle. When it’s just you it can be okay to forgo little luxuries. But when you can’t pay your bills, arrange for medical care for your children or just plain old survive, things change. The passion you feel for your practice can fuel amazing things that can change your entire community…if you allow you’re clear on what your real needs as a human being are. S…

 

  1. Before you do anything, be clear on what your baseline required income is. This is the income your family cannot just survive on, but can begin to thrive on. The key is to be realistic. And, when you start with the big goal of what you need, it allows you to break down your business goals very differently. You won’t just set a price at random. You’ll set your prices because they fit within a carefully thought out framework.

 

  1. Preparation reaps great blessings. Once you have your framework of what you need to live on, it’s time to turn to setting up your business in the best possible way. And, there is nothing better to start with than your Base Operating Expenses. These expenses will be with you for the long haul, so setting them up right the first time, will save you enormous time and money. Go through each expense with a fine-tooth comb. What do you truly need when you’re starting out and what can you survive with? Start lean and gradually add as your business grows and your revenue increases. But all of these mindsets are so much easier if you…

 

  1. Live within your zone of genius. As you finish setting up your base operating expenses understand that your best role is within your zone of genius. What’s a zone of genius? It’s the zone where you produce income and change in the most effortless way. Is it a place where everything goes perfect? No, that’s fantasy. Consider this the place where you need to put most of your energy to allow your business to succeed. A perfect example is that as much of neat freak as you may be, your zone of genius can’t primarily be in cleaning your studio. Let that zone fall to someone who is dedicated to it, while you focus on brining in revenue that grows your studio.

Recommended Episodes

  • Instruct & Inspire: Teacher Training – Should I Even Have a Teacher Training?

    Every studio owner is likely looking to boost revenue, differentiate their business and build a strong team. Might teacher training be an all-encompassing solution?   Yes, it’s a huge undertaking. But done well, it checks all those boxes. What’s not to love?  So catch Episode 634, Instruct & Inspire: Teacher Training – Should I Even Have…

    Listen Now

  • Instruct & Inspire: Teacher Training Series Intro

    Amidst multitasking and managing the minutiae, it can be daunting to dare to dream about building your business. We’ve been there, and we can help. Let’s start with teacher training. While it might seem like a big, hairy, audacious goal (BHAG), Coach Cara Hazelton and Coach Caroline Plambeck break it down, starting with Episode 633,…

    Listen Now

  • Senses in Sync: Crafting a Multisensory Journey

    If your studio is just a space to exercise, you’re in trouble. Consumers today expect memorable experiences and personal connections.  Fortunately, Studio Grow is in the experience business. Discover how to differentiate your studio with Coach Caroline Plambeck in Episode 632, Senses in Sync: Crafting a Multisensory Journey. Evoke emotions and encourage loyalty in immersive…

    Listen Now

  • The Art of the Turnaround

    I bet your studio ownership journey had some do-or-die moments where you worried if your business would make it. Friend, you’re in good company. Be encouraged as Coach Elle Kealy chats with Rachel and Taylor, co-owners of Evolve Studios in Louisiana, in Episode 631, The Art of the Turnaround. Hear how they went from “blind…

    Listen Now