Do You Know Your Businesses Seasons

Feeling the heat in more ways than one this summer? There are few guarantees in life but one of them is that when holidays, summer, spring break, and flu outbreaks are in season your business can feel the effects. But, that doesn’t mean you have to feel it in your wallet or your bottom line. Knowing your businesses seasons and working them is key for making money, and feeling in control of your business. Here are some questions I love to explore with anyone I am coaching:

Do you know your busy and slow seasons?

How much do you want/need to gross each year?

How many weeks a year do you work?

What is your average hourly wage?

When you have these answers then we can get really honest and clear. One studio might be in the suburbs where the calendar is pretty easy to follow. They are busy January-March and then spring break starts to distract people from consistency. Then April-May starts to level out. June-September is “slow.” September-mid November is consistent. And as the year winds down the cancellations wind up.

But, you may live somewhere where it’s busy 6-9 months a year and dead zone for 3 months. That shouldn’t freak you out. Instead, it makes it super easy and clear for you to know when you take your breaks, how much you need to be working those busy months. And enjoy a few months of you time. I think I would like that very much.

If you’re someone who has major seasonal influx and you’re not setting goals in your business to take advantage of the busy months then you will feel it during the slow months.

No business is the same as another. Take some time this week to look at your previous year. When were you the busiest? When were you the slowest? How many sessions a week do you need to come through your schedule/studio during the busy months vs the slow months? What weeks can you just take off?

I would love to hear what your answers are and help you create a plan to make the most of your busy seasons and live guilt free on the slow seasons. Hit me up here or post in the comments below.

xx~LL

How Do You Know If You Are Teaching Enough?

One of my AGENCY mastermind members recently said: “I think that if I feel busy I must be doing good numbers.” She was mistaking the fact that her schedule was full so she must be bringing in enough money. And, here’s the thing, a lot of instructors and studio owners make this error. They work so hard to fill all their classes and teaching hours because if they are busy or teach more then they’ll make more. But, what I often find when I look at their numbers is that while they are busy and some of them really busy they are not meeting the monetary goals and needs they have. And this is because they are confusing busy for successful.

Do you know your average hourly rate? If you’re a teacher this can be easier to figure out than a studio owner but either way you need this number.

Do you have a gross income goal for your business? If you’re a teacher at the end of the year what would you like to have made? Studios if all systems were working what would your gross income be?

If you don’t have these numbers then set aside some time to get super clear on these.

When I was running studios I had goals for the month and the year. Some sessions were privates, or duets etc. Every person had the option of buying single sessions vs packages. Not going to lie the first time I had to figure out how to see what the studio could do based on the schedule I thought my mind might explode. But, when I figured out some averages. Took a look at what was scheduled and compared it to the goal I could see how far away we were. I also could make a plan!

In the teaching part of my business, I have a goal each week that is a “work week” on how many sessions I need to have in my schedule. The freedom this provides is incredible. Because, if I look ahead and my schedule is “full” meaning I have hit my # then I don’t need to add more clients to the week. I have time to spend focusing on my business in other ways. But, if you don’t know this number how do you know if you’re teaching enough?

The burn out is real and it sucks whether you are making enough money or and stings, even more, when you’re not.

Homework for you:

What’s your average hourly rate?

What’s your gross money goal for this year?

How many weeks will you work this year?

I’ll do giving the tips on what to do with these numbers in my newsletter this week. My course on “raising your rates” also goes over how to use this info to help you create a plan for you to make the money you want to make and not overwork yourself doing it.

What if instead of filling every hour you could teach you just taught the amount you needed?

xx~LL