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I Need Help! (Part Two) – 5 Tools to Implement for Business Growth

5 Tools to Implement for Business Growth

Business growth: it’s something every studio owner desires!

Whether it’s more students, more staff members, more space, more financial freedom, or more time at home, at some point or another, we all want MORE for our studios.

Growth can be great! It means your business is healthy, and healthy things grow! But business growth usually doesn’t come without a few growing pains. As your studio expands to accommodate more people or more space, or as you step out to spend more time at home, you’ll probably notice that some of your existing systems don’t work as well anymore. I often tell the dance studio owners that I coach, “Every time something your business doubles, all of your systems break.”

If you are in a position where you are seeing your numbers rise and your systems aren’t quite keeping up, take advantage of this opportunity to make some key updates in the way you organize and communicate before the new year starts. Keeping up with your studio’s growth—and then staying ahead of it—will allow you to maintain its health. Don’t ignore the warning signs that you need to make improvements. Warning signs might include things like customer confusion or dropping balls on details and follow up.

If these types of things are happening to you, it’s probably time to dig in to some new resources that will help improve your systems!

Keep reading to learn about my 5 Tools to Implement for Business Growth.


Here are my 5 Tools to Implement as Your Business Grows:

  1. A rhythm calendar

The “rhythm calendar” is a tool that helps everyone on your team see what tasks need to be done and when, for the entire year.  It may be an actual printed document which follows your studio’s calendar or it may be kept in a project-management software system like Asana or Basecamp. Either way, it’s a roadmap to keep you on track all year. It’s also a “living” document that covers the responsibilities in every area of your business, so expect it to change over time as your studio grows and changes.

  1. The right software

From accounting software to studio management software, you may need to consider implementing a new product or some more training on an existing product to stay on top of your studio’s growth.  Is what you’re currently using causing more headaches than it solves?  Are you actually using your software tools?  If technology isn’t your zone of genius, schedule an appointment to talk with your accountant or dance studio software representative to ask questions and get a refresher on which solution may help your business the most.

  1. A trial class system

Take the time to look back and see how many trial students you’ve served so far this year, and what their conversion rate to enrollment has been.  If your conversions are below 20% (or you don’t know this number to begin with) it’s probably time to get a real system in place.  A great starting place is to have one employee on your team act as the champion of this trial classes, from scheduling to follow-up.  Or you get techie with it. I recently installed a product called the Trial Class System by Studio Owners Academy and we have already had over 30 trial students. Now that’s a win this time of year!

  1. A file sharing program

As your student numbers grow, your team of staff members will likely grow too, meaning more people need access to more information.  Make your work more efficient by getting those files organized in one place.  A program like Google Drive, G Suite, or Dropbox will store your electronic files in the cloud, allowing you to choose who to share files with (and to limit access if needed).  No matter what system you use, it’s important to get everyone on the same page for naming documents. There is no sense in created great documents if you can’t find them later:)

  1. An email system

From automating marketing campaigns to sending out monthly newsletters to your existing customers, email still rules as one of the top ways to communicate.  Programs like MailChimp, iContact, or Drip allow you to break up lists into smaller groups according to interest and to create branded, professional-looking information to send out to them on a regular basis making your studio look organized and reliable.

As your business grows, your systems must grow, too! Remember: whatever time you put in to update your systems NOW will save you heaps of time in the new year.

Do you have questions on how to grow your studio business (or to how to manage the growth you are having?) Let’s talk! Connect with me on social media @mistylown. I’d love to hear your questions, concerns, or stories of success.

Love, Misty


 

Looking for more dance studio staff insights? Check out these other articles and resources:

The “Expert Advice from Misty Lown” series is brought to you by More Than Just Great Dancing™ and TutuTix.

More Than Just Great Dancing

Misty Lown

Misty Lown is the founder, president and energized force behind More Than Just Great Dancing™. Misty shares her methods of creating a professional environment where people learn and grow from the life experiences lived in the dance studio. Sharing information, providing helpful observations, and giving feedback to parents, teachers and students is an essential part of the learning process that Misty delivers with More Than Just Great Dancing™. Misty's new book, "One Small Yes," is now available on Amazon.