The
Podcast

Podcast Episode 201: The Four Stages Every Studio Must Pass Through: The Wonder Stage, Opening {or Reinventing} Your Studio for Max Profitability and Peace of Mind

I’m not going to lie, being a business owner is pretty dreamy.

You can directly give your gifts to the world and impact your community, limitlessly grow your income, and you have the freedom to blend your work and your life in the way that you desire for yourself and your family.

Now I know some of you reading this will be nodding your head as you’re beginning to experience these possibilities that business ownership affords, but I know there are a group of others thinking…

“Yes, this is what I thought it would be, but man does it seem like a pipe dream compared to where I’m at now.”

No matter which camp you’re currently in, this message is for everyone: Your vision of business and studio ownership is not a pipe dream. If you can envision it and believe it, you can achieve it. Our thoughts are our beliefs; our beliefs inform our actions.

As I prepare to welcome the newest member of our family (a baby boy!), I can’t help but reflect on how our life’s journeys mirror that of business…

Except, unlike pregnancy where you move through the various stages of growth and development and reach that 40-week mark where you’re absolutely going to give birth at some point or another, “arriving” in business isn’t quite as simple.

There’s no deadline or timely marker to look for, and it’s easy to find yourself stuck in a stage, feeling like you don’t know how to bust through, move, or find your way around the brick wall in your way.

Over the next several weeks, I’ll be walking you through what I’ve identified as the “Four Stages of Studio Growth.”

Everyone passes through these stages at different rates, but every stage requires a deep dive from us as studio owners.

Today we’ll be discussing what I call the Wonder Phase which is when the foundation of your business success is built, and many business mistakes can be avoided.

I hope you’ll join me on the journey…

In this episode you’ll learn:

  • What is the “Wonder Phase” and how to know if you’re in it
  • How to get your baseline operation costs right from the beginning
  • What is a Pro Forma and how to use it effectively
  • The power of an average client monthly value and how you can use that to calculate a profitable business
  • What to look out for when negotiating real estate
  • Why you should have your sales and marketing systems ready before opening your doors

Recommended Links:

Ask For It by Linda Babcock and Sara Laschever

With Grit & Gratitude,

Lisé

Recommended Episodes

  • The 7-Figure Teacher Training Framework

    Not all teacher trainings are created equal, y’all. Teacher trainings can be a powerful revenue generator, help you give back to your community, and source great instructors for your studio.  But here’s the kicker, if you’ve got dreams of growing your program to 7-8 figures: there are certain things you’re going to have to consider: […]

    Listen Now

  • 3 Teacher Trainings Every Studio Should Consider

    Y’all, a teacher training program can be a little bit of a lot of things. It could be designed to:  But no matter how you structure your teacher training, the bottom line is this: it’s a phenomenal opportunity to impact and enrich lives while bringing home some extra cash.  But to get started (and make […]

    Listen Now

  • Building a Teacher Training Waitlist that Sells With Ease

    Y’all, a teacher training program can be a game-changer for your studio. It can increase your cash flow, enhance your reputation, and you a wonderful group of trained instructors who can join your studio family. But let’s be real – running a teacher training program is hard work. It means extra hours, long weekends and […]

    Listen Now

  • How having a Personal Commitment to something, inevitably helps your business grow. Coach Amanda and Studio Grow client Brady Johnson

    Here’s the thing – commitment isn’t a one-size-fits-all deal.  To you, commitment might mean working 12-hour days and overseeing every micro aspect of your business yourself. To someone else, it might mean building and training a team that runs the day-to-day so they can focus on the bigger picture – like sales, strategy and expansion.  […]

    Listen Now