Feeling like you should downsize your studio, schedule or client list is normal. Desiring to work on your business instead of in your business should always be your goal. I get asked often “How did you go out on your own?” “How did you open your own studio?” “Why did you move your studio?” All these questions have one topic in common. “How do you make the leap?
The leap in your business is going to be scary. Let’s get that out of the way. But, the longer you avoid taking the leap that you need to make the harder it will be, and the worse it will feel. And also, the more likely you are to burn out and think about quitting teaching altogether.
So, if you are a teacher thinking about going out on your own keep reading. If you’re a studio owner wondering if you should downsize, upsize, go from having independent contractors to employees or moving your studio at home keep reading.
A leap can also be a switch, a shift, a change of plans. And yes people will wonder if you’re a bit crazy. Some people will not be shocked at all. And others will be inspired. Why? Because only you will know what is right for you. And you must teach the way you are called to teach. Oh, and that might change as you grow along the way. But, if you’re charging based on your goals and clear on your vision I promise that more leaps will be in your future and it gets easier to leap.
First ask yourself what you want for your future? Who is in it? Where do you live? What do you do each day? Pick a date in the future and get clarity around your day to day. This will be your filter. And, you’ll want to do this often. Because you’ll reach the date of the vision and you’ll need another future one.
Second, what in your business are you wanting to stop doing?
How much money does that bring you?
How much time is that?
Third, what is it that you want to be doing with that time? How much will you need to charge/work to replace the income of the thing you’re wanting to stop?
When you know how much you need to do/have to make the switch it becomes more real, more possible, and more tangible.
When I wanted to leave managing studios I figured out how much money I would be giving up when I let go of that job. I figured out how many hours of private clients that would be and the amount of time that would equal. I could replace that income I was getting in 30+ hours a week of work with 17 hours of privates. I figured I could add 8 hours to my current schedule but once those were full I would have to make the leap. Make the leap 9 hours shy of what I needed to replace the income. Yes, that was scary but I was about to gain 30 hours of time to go and find those other 9 hours of clients.
When I wanted to open my own personal studio I looked at how much I was paying in rent and then searched for a space that was close to my average rent. Yes, I had to buy my own equipment and take on the other bills for owning my own space. But, I saved on time spent figuring out if I could teach at this time or that time. I didn’t have to ask when I could film anymore and I could have days off instead of filming on days off because that was the only time that was available. Leap!
When CV19 happened and I lost all my workshops for 2020, my elderly clients passed on virtual I did what I told you above. I figured out how much money that was. I wrote down all the things I LOVE to do when I am working. I figured in how much of the things I loved doing I needed to remake that revenue. And then I leapt.
If you are wanting to quit teaching mornings, classes, running a studio or want to open your own you can! Wherever you are in this world, whatever your dream you will have to make a leap. And, it won’t be easy. But, you can do it smartly and have more confidence when you go and do it. Even if there are those people that question the leap you are making.
So, whatever you are thinking of doing there is a way to build a bridge to allow you space to successfully leap. What leap are you wanting to make?