Category: Podcast

In Part One of this podcast, we hit the must-have strategies you’ll need to sell your business.  

Now, it’s time to get down to the nitty gritty, where we’ll look at:

1. The Multipliers you’ll use to determine a final asking price: You’ve likely heard the term multipliers before, but what’s the exact numbers you need to to know in our industry so that you sell for the right price {and the right long term profits}.  
2. The Owner Benefit you’ll need to layout a true net profit: Thought your P & L was the end all and be all of your net profits. Not when it comes to selling. Chances are you’ve been writing off as much as possible for as long as possible and this has skewed your true net profits. Now, we’re gonna dismantle the P & L to create an Owner Benefit statement that gives your new owners the best chance to see your business’s potential.
3. The Financing Options ahead for you {and your potential new owners}: There are numerous options to financing your business, but a select few may earn you extra dollars without extra headaches. We’ll explore your options {and let you in on exactly how we sold our companies}.  
4. And, finally, where do you actually sell your business? {hint} It’s closer to home than you think.  

Listen in on today’s episode and you’ll learn:

• The multipliers to use to determine the final asking price of your business
• The strategies to use to increase your multipliers {so you can increase the
  value of your business!}
• The one scenario where a multiplier does not apply
• How to calculate the owner benefit and the types of expenses to leave out of
  this calculation
• The different ways to finance the sale of your business for a potential buyer
  plus my personal favorite financing option
• Tips on how to find a buyer easily!

With grit + gratitude,

Lisé

When your mother is a therapist, you view mental health in a very different way.  

After all, thanks to my mother, I not only experienced completely stigma free therapy, I was her guinea pig as EMDR and neuro-bio-feedback were considered as additions to her repertoire, the advanced copy reader of numerous books that she was considering for her clients, and, well, a constant mind to be explored {thanks Mom for not terrifying all my boyfriends}.  

But, psychology and fitness, outside of sports psychologists, isn’t something I saw being explored on a day to day basis, until I met Coral Brown. 

You may have known Coral as a renowned teacher trainer over the last ten years or from her cover on Yoga Journal or just because she’s well, her…

But, today, we’re going to dig deep into a niche that Coral is leading the yoga world in… the combination of yoga, psychology, the chakras, and the breakthroughs {and breakdowns} our clients experience as they transform, externally and internally.

In this episode you’ll learn:

• What the special link is between mental health and yoga
• How Coral developed a therapy-based modality approach to mental health
• Your personal myth – what is true and what is not?
• Her advice when it comes to teacher training
• Why yoga is not a religion
• How Coral incorporates storytelling into her teacher training/practices {and why she does this}

With grit + gratitude,

Lisé

This is a 2 part series because, well, selling isn’t a minor prospect. Today, I’ll be covering some generalities and in next week’s episode, we’ll leap into the nitty-gritty numbers that will show you what you need to do to sell.  

1. Selling your studio is not a short term process. Our final businesses did not in fact sell for nearly 2 years. During that time, we kept growing and put infrastructure in place to support the sale.

• What happens if selling immediately needs to happen?
• Is there a team member you can put into place that will hold the ship tight?

2. Infrastructure and Systems will Sell Your Studio.

• Organization Chart
  1. Who does what?
  2. How well do they do it?
  3. Is everyone clear on responsibilities?
  4. Where are you single threaded?
• Standard Operating Procedures
  1. Sales
  2. Marketing
  3. Communication
• Metrics — Areas of Growth Potential
  1. Attrition/Retention
  2. Lifetime Customer Value
  3. ACMV

3. The more turn-key your team, the more likely your studio is to sell and sell quickly.

• While you’ll be able to remove the cost of your management, most people will want to be able to walk into a business that can operate without them at the helm.  

4. Regardless of what you may think, your equipment, and at times your methodology, matter very little in comparison to profits.  

• So oftentimes, when an owner wants me to value their business they tell me about their investment…
  1. Real Estate
  2. Equipment
  3. Methodology
  4. But, these don’t sell a business. Profits do. If you are strongly profitable with a methodology that has the potential for further growth and you are selling the methodology as well, you will see additional value.  

Listen in to today’s episode and you’ll learn:

• How I realized the business model I had wasn’t going to work for me going
  forward
• The biggest lessons I learned over the two years it took to sell my businesses
• What you need to consider before you even decide to put your business up
  for sale
• What to do if you want to sell it immediately!
• The three areas you need to focus on if you want to entice a buyer {and
  strategies for each}

LINKS:
https://app.asana.com/

With grit + gratitude,

Lisé

I met Taty Castro’s leggings before I met Taty {and needless to say it was an impressive first hello}.

As we began our rebrand, our amazing partner-in-crime Sarah, pulled them out for one of our shoots and everyone stopped in their tracks.  

It wasn’t just the patterns {which were off the charts some of the best I’d seen}, it was the fit, the quality of the materials and just the sheer way they made everyone’s bootys’ look absolutely amazing {which isn’t always easy given we were looking at more than a few models}.  

Sarah, was kind enough to give me an intro to Taty, whose brands have been seen {and even white-labeled} in the best-known cycling, fitness, and yoga studio chains in the world.  

What makes Taty extraordinary isn’t just the fact that she has a GREAT product.  

It’s her ability to work with studio owners to design a buying plan based on their unique brand, their client’s desires {and buying patterns} and budgets of all sizes. Her marketing and business acumen lends itself to creating true profit centers within studios across the country and around the world and she’s been kind enough to let us into her world…

In today’s episode you’ll learn:

• What Taty considers the most loving thing she ever did for herself
• Why not having previous experience in the fashion industry was a blessing
  for her
• You don’t need to have a lot of resources starting out – but you will need to
  do this…
• Her thoughts on trying to be perfect and comparing yourself to others
• The difficult decision she had to make as she was building her brand (and
  how it brought her business to 7-figures a year)
• Common mistakes that she sees studio owners making when it comes to
  ordering product
• Why she is competing on quality, not price!

With grit + gratitude,

Lisé