By Emily Kane – Yoga Teacher and Studio Owner
I get asked a lot of questions about business practices when it comes to yoga and owning a studio. The task of “being your own boss” and doing what you love is amazing but it can be very daunting if it’s new to you. Creating a successful business can be tough, especially in the first phases but there are ways to make the transition more easeful. Here are a few business tips to get you going in the right direction regardless of what industry you plan to take on.
- Have a Plan
Creating a plan will make sure you are following the guidelines needed to have a successful business. This includes creating a detailed business plan that breaks down your expenses and realistically reflects revenue based on your price points. Setting realistic goals will help you keep your doors open during slower periods and encourage effective budgeting.
Guide to write a business plan for more information and tips on planning
- Create a Clear Message
What is it that sets you apart from the rest? How are your offerings unique? Playing up these key points will get you noticed in your community. Realize that as you build your business you’re creating a brand, therefore you want it to be clear how that brand is received by your clients.
- Marketing and Networking
This is probably the most important one of all. “Word of Mouth” is not a marketing strategy – although it’s great, it is simply not enough to effectively grow your business. Figure out ways to get clients to find you and your services. A website is key paired with social media, digital advertising and other current marketing strategies. Networking pairs well with marketing as you yourself are also tied into the brand. Networking doesn’t have to seem cheesy or forced – I’ve been to many events that I’ve genuinely enjoyed getting to know other people. At these gatherings I’ve also created partnerships through socializing with other like-minded individuals. These two may seem very different but can go hand-in-hand when creating successful business.
Although living your dream can seem overwhelming, there are ways to overcome that anxiety through preparation and maximizing the awareness of your unique brand. Hopefully these business tips can help you get that great idea off the ground!
If you’re curious about where to get started, Kabbage has some information about small business loans to get you on the right track. They also offer other great business tips and advice on their website.