627: How to Deal with Competitors Opening

So many of us dove into our studio ownership more fueled by abounding passion than business acumen.   Fervor is fabulous but doesn’t automatically equate to profits. Even if you’re not a numbers person, profitability is critical. Coach Elle Kealy walks you through her journey from naive to savvy studio owner over the last 20+ years in Episode 636, Balancing Passion With Profit.    Embrace a CEO mindset: commit to understanding and practicing business skills Get out of your own way: quit doing absolutely everything and delegate instead Invest in education: learn about finances, marketing, operations and risk management Cozy up with the numbers: make a budget, set financial goals, track performance Reap rewards: benefit from less stress, more opportunities and a regular paycheck!   Passion is the heart of your business; profit is the lifeblood. Discover how they can work hand-in-hand so your business thrives in Episode 636.   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Every studio owner is likely looking to boost revenue, differentiate their business and build a strong team. Might teacher training be an all-encompassing solution?     Yes, it’s a huge undertaking. But done well, it checks all those boxes. What’s not to love?    So catch Episode 634, Instruct & Inspire: Teacher Training – Should I Even Have a Teacher Training? with Coach Cara Hazelton and Coach Caroline Plambeck to see if it’s your next best step.   Know your why: identify your goals – income, staff, branding, personal development Explore the territory: research the ins and outs of other local teacher trainings  Count the cost: commit to teacher training as an all-consuming project   Consider the possibilities: mull over modalities, in-person/hybrid, modules and more Expand your audience: invite massage therapists, chiropractors and PTs    You should invest 9-18 months to develop your teacher training. We’ll take you through the process in this series. Dip your toe into the water in Episode 634 and peek at the potential. More to come!   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Amidst multitasking and managing the minutiae, it can be daunting to dare to dream about building your business. We’ve been there, and we can help.   Let’s start with teacher training. While it might seem like a big, hairy, audacious goal (BHAG), Coach Cara Hazelton and Coach Caroline Plambeck break it down, starting with Episode 633, Instruct & Inspire: Teacher Training Series Intro. Pique your interest and get the wheels turning to envision what’s possible.   Gear up: expect a huge undertaking that requires loads of attention Make the call: purchase a white-label curriculum or craft your own Cultivate credibility: identify your brand as a leading expert and nurture loyal fans Equip your leaders: boost your instructors’ skills and ensure consistent quality Reap revenue: benefit from an ongoing source of income (vacation, anyone?)   This series covers all the need-to-knows – like should you have a teacher training, what kind of teacher training and nitty-gritties on payment, policy, pauses, certification and affiliation with larger organizations. Kick off this practical deep dive in Episode 633.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

If your studio is just a space to exercise, you’re in trouble. Consumers today expect memorable experiences and personal connections.    Fortunately, Studio Grow is in the experience business. Discover how to differentiate your studio with Coach Caroline Plambeck in Episode 632, Senses in Sync: Crafting a Multisensory Journey. Evoke emotions and encourage loyalty in immersive environments that tickle multiple senses.   The recipe for success:   Fine-tune your tunes: match your music to your brand, modality and mood Nurture nose jobs: incorporate subtle signature scents to cultivate familiarity Keep in touch: foster physical and emotional feelings through tactile encounters Entertain the eyes: enhance visual appeal through lighting, color, design and decor Compose your symphony: thoughtfully combine each element to make magic   Artfully engaging the senses in your studio can make a powerful physical and mental impact. Explore the opportunities in Episode 632.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

I bet your studio ownership journey had some do-or-die moments where you worried if your business would make it.   Friend, you’re in good company. Be encouraged as Coach Elle Kealy chats with Rachel and Taylor, co-owners of Evolve Studios in Louisiana, in Episode 631, The Art of the Turnaround. Hear how they went from “blind and naive” opening their first studio to two thriving locations – and steady paychecks!     Tips from the trenches:   Frame your foundation: create a plan, run the numbers and learn business basics Embrace sweat and tears: work hard and long, expect obstacles and stay focused Delegate more: lose your superhero complex to avoid burnout and allow for growth Make lemonade from lemons: approach challenges as opportunities to become better Seek a sounding board: bounce ideas and issues off a business partner or coach   Going from teaching 8 classes a day to leading a well-oiled machine that doesn’t run your life is a process. Tune in to this success story in Episode 631.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Y’all, uncertainty is everywhere. Studio owners face unforeseen issues every week or every day (hopefully not every hour!).   We feel you. Join Coach Elle Kealy and Coach Catherine Hebb for an empathetic discussion and practical tips in Episode 630, Navigating Uncertainty with a Positive Mindset. Discover how to lighten your mental load and shift your perspective to best manage your business.     Essential to the evolution:   Fire the control freak: surrender this unrealistic, constant source of stress  Embody self-awareness: understand your core values, triggers and fears Lose negative self-talk: ditch “I can’t,” “I’m not good enough” and “what’s wrong with me?” Reverse your thinking: view challenges and disruptions as opportunities Consult your compass: set goals to guide your decisions and focus your efforts    In an uncertain world, keep in mind that you always have a choice when it comes to your thoughts and emotions. Explore more in Episode 630.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Ever wonder if your Meta ads are worth it? Any idea which metrics to track and how they add up? Or are you breaking a sweat thinking about this?   Demystify how Meta ads work with Coaches Peter, Tara and Trish in Episode 629, What’s My ROI on Meta Ads? Learn the basics to broaden your comfort zone and amp up your marketing savvy.    Some must-know info:   Build your foundation: layer your warm-up, conversion and retargeting campaigns Know your numbers: cost per result, cost per mil, click-through rate, conversion rate Target 10%: aim to hit this conversion benchmark to keep sales humming  Go after ghosters: they’re likely your later purchasers and quiet ambassadors Spend strategically: watch month-over-month, quarterly and year-over-year trends   Remember, Meta is your least expensive, hardest working, 24/7 salesperson. So get better acquainted in Episode 629.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

628 - Selling Your Studio with Host Peter and Mitch McGinley

  Competitor opening nearby?    Cue spiking stress, nagging worries and the heavy weight of dread.     But, my friend, let’s adopt a healthier approach. Competitors are a given, so get a go-to game plan to keep your studio – and your mindset –  thriving. Trust someone who’s been there, as Coach Catherine shares top tips in Episode 627, How to Deal with Competitors Opening.    How to go on offense:   Flip the script: instead of a threat, consider competitors an opportunity to grow Do your homework: research your competitors' positioning, pricing and promotions  Bypass the price war: know your worth and refuse to undercut your value Brag better: revisit marketing strategies and reinforce your unique selling points  Nurture your peeps: seek feedback, enhance client service and love on your team   Keep in mind that competition is healthy and can make your studio even stronger. Replace the “what-ifs” with an optimistic outlook in Episode 627.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Think about Nike, Skechers and OOFOS. What comes to mind for each? They’re all shoes, but their brands are recognizably distinct.    That, y’all, is brand positioning. And you need it to differentiate your studio in a crowded market and in the minds of your clients and prospects. Coach Elle breaks the process down in Episode 626, The 3 Pillars of Brand Positioning.    Here’s a sneak peek:   Dive deep: research and really get to know your audience and ideal client avatar  Learn the landscape: analyze your competitors' client journeys, strengths and weaknesses Define and differentiate:  communicate consistently what sets your studio apart Cultivate creativity: seek inspiration from other brands and unleash your imagination  Execute effectively: intentionally incorporate your brand positioning into everything    Your brand positioning must make it clear why a person should choose you. This influences buying decisions more than anything else. Uncover how to craft your competitive edge in Episode 626.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/