The Business of Boutique Fitness
207: The Four Stages Every Studio Must Pass Through: The Freedom Stage, or Stepping Back to Allow the Empire You've Built to Grow {yes, even when you're not there}
You’ve made it!
It might feel like it’s taken eons, or maybe it feels like it was all a flash, and you can’t believe it’s happening, but…
You’re at the Freedom Stage!
You’ve built your studio to the point where you can confidently step back and let your team lead at the front while you maintain your role as visionary and CEO of the business.
{ Psst… if you haven’t listened to the other 3-parts to this series, head here to listen to Part 1, Part 2, and Part 3, those pieces are crucial to arriving at this Freedom Stage.}
It’s a beautiful place to be, but as you can expect (because this is business, after all), the buck doesn’t stop here…
You might be in the season of scaling back your time in the studio, but there are still decisions to be made and opportunities to be grasped, they’re just ones that uniquely present themselves in the Freedom Stage.
For example, have you thought about dabbling in other areas of investment to diversify your portfolio of assets?
Have you considered taking the framework, methodology or movement you’ve created and taking it to a new market on a new scale?
How about getting your processes in order in the case that you decide to sell?
I know these are BIG questions and ones that can bubble up a whole new host of doubt, but you’re equipped to handle it, and you’re going to want to if you're going to continue to build your legacy assets.
One of the most significant takeaways I think you’ll have when listening to this episode about the Freedom phase is that this isn’t a stage for stopping, rather sustaining, savoring, and spreading your wings to soar toward new opportunities that are now yours for the taking.
So, let’s go after them!
Here’s what else you’ll learn in this episode:
- How your role and your manager’s roles will evolve in this new phase of your studio growth
- Why you need to be aware of the “pheasants” that present themselves at this stage, keep your eyes on the prize, and protect the asset you’ve built
- What pieces of your infrastructure you’ll need to have in place before drastically stepping back from your studio
- The 4-pronged approach to continued asset development and acquisition that you’ll encounter in the Freedom stage and the initial steps to navigating the next path that’s best for you
With Grit & Gratitude,
Lisé
