Author: support@studiogrow.co

https://www.kickstartaccountinginc.net/

Danielle Hayden and Studying your Numbers (Part 2)

March 11, 2021March 11, 2021

Let’s get real, accounting is the nightmare of many studio owners.

But, getting comfortable with hitting the account books and analyzing data is more important than ever in this post-pandemic world.

So, in an effort to help owners worldwide with their accounting woes, Danielle Hayden of Kickstart Accounting joined us last week to talk all things numbers, including outsourcing your accounting (which I HIGHLY encourage you to do), the importance of studying your numbers, and the best way to track KPIs.

Well, lucky for us, Danielle is here for yet another episode where she expertly breaks down more KPIs for you to keep track of.

And y’all, if I do say so myself, every word out of her mouth in this episode is gold.

Not only does she make it easy for you to figure out what KPIs to keep track of and why, but she also goes into how often you should be tracking them and what exactly to keep in mind as you go through each of them.

So, in this episode listen in as Danielle discusses KPIs such as Client Acquisition Rate, Member Acquisition Cost, Membership Lifetime Value, Membership Conversion, Profitability, and MORE!

She also discusses the importance of looking at your 2020 numbers and creating goals based on it, even if that means facing the ugly truths of your profit margins last year.

So, if you’ve been unsure of where to start with accounting this year, or want to turn over a new leaf, this is the episode for you. Grab your airpods and get to listening!

In this episode, you will learn:

The importance of making small changes that you can measure, and why we recommend using a rolling 13-month attrition rate versus a monthly one

What numbers Danielle focuses on while planning with her clients

A key metric to watch to get a clear impact of how new member offers are really impacting your business
Why raising your prices is likely easier than you think {and will benefit your clients as well}

A key piece of profitability that most studio owners are missing

The way you can overcome money mindset issues by embracing your numbers

With grit and gratitude,

Lisé

https://www.instagram.com/kickstartaccounting/

https://www.instagram.com/daniellehayden__oh/

https://profitplannerbookkeeping.com/

https://www.kickstartaccountinginc.net/

Danielle Hayden and Studying your Numbers (Part 1)

March 4, 2021March 1, 2021

Now, I love hitting the account books at the end of the year, going through our numbers, collecting and analyzing data, and planning for the future.

But, I’ve also struggled with the accounting side of my business for years.

In fact, a running joke in my family is that if I was handling Studio Grow’s accounting, we’d already be in jail.

However, to many business owners, the fear of accounting goes way past a joke.

In fact, accounting skills, and or the lack of them, is often a source of frustration and shame.

Y’all, it absolutely shouldn’t be.

As business owners, we all have our own zones of genius. Stick to what you’re great at and outsource the rest.

One of the primary areas of your business to outsource apart from legal housekeeping, is accounting.

There are SO many experts out there who are way better at this than you and I could ever be. Not only do they have a natural knack for numbers, but they’re also been through years of schooling for this very purpose.

In today’s episode, I’m speaking to Danielle Hayden, one of the top accounting experts in the industry.

Danielle has worked with dozens of studios in the past and through this two-part series, will be sharing her expertise on what you need to be studying in your account books, the benefits of outsourcing, the KPIs you should be looking out for, and MUCH more!

Danielle shares the answers to things that have mystified and frustrated many a studio owner. So make sure you’re taking notes!

In this episode, you will learn:

Why accounting and bookkeeping should be one of the very first things a business outsources

What are the most important Key Performance Indicators (KPIs) to consider for a business

Why I look at 13 months, instead of 12, for our yearly KPIs

How to be analyzing your numbers during the pandemic (and beyond)

The reasons that really knowing your numbers will make tough business decisions easier

The 30/30/30 model we use to split the revenue generated by our business and to evaluate profitability

Some tips and strategies for maximizing profitability with your studio’s retail

With grit and gratitude,

Lisé

LINKS:

https://www.instagram.com/kickstartaccounting/

https://www.instagram.com/daniellehayden__oh/

https://profitplannerbookkeeping.com/

https://vimeo.com/ott/home

How Would I Start All Over Again? (Part 4)

February 25, 2021February 24, 2021

Y’all, it’s been a long February.

But, with every passing week (and every relative of mine that’s gotten a shot), I get more and more cautiously optimistic about the state of the world around us.

And it’s the same for our businesses too.

While this is a tough time for everyone in boutique fitness, these past few months have also made it okay for us to take the big risks, leap forward, and radically change our businesses.

Studio Grow has done just that for over 1,200 studios in 2020 to incredible results.

And that’s exactly why I created this ‘How Would I Start All Over Again?’ mini-series. I wanted to share all the knowledge we’ve been able to accumulate with all of y’all!

Now, if you’ve been keeping up, over the past three weeks we spoke about:

1 – The new business models I would use for my studio

2 – The importance of marketing and branding

3 – The advantages of a centralized sales team over an in-person one

And in today’s LAST episode in the series, I’m gonna be breaking down everything about your ideal virtual studio.

So grab your journals because I’ve truly saved the best for last! I’ll be breaking down what I mean by ‘virtual studio’, the two things I would build out in it, what softwares I would use, and MUCH more.

This episode is chock full of everything you’d need to make virtual your strength, so don’t skip it!

In this episode you will learn:

The two digital products I would be building if I were starting over
Why I wouldn’t do an online library for a membership site {and what I would focus on instead}
What an evergreen challenge would look like and how I would set one up
Some different techniques to use in a funnel or marketing strategy, and much more…

With grit and gratitude,

Lisé

LINKS: