It’s here! It’s that time of year when all across the West children, educators & Yoga Teachers are heading back to school … unless of course you are in the home-school arena, and still, I imagine after a fun-filled Summer, learning and classes are starting up again!
I love this picture of my Facebook friend and Kids Yoga Teacher community member who posted her enthusiasm for starting up her Yoga classes this week! I mean, seriously – she’s gorgeously proud that she is doing what she loves and getting paid for it … and she should be!
For many of us the back to school season can feel like a fresh opportunity to put new and important business practices into place for the months ahead of Yoga happenings. I thought this to be the perfect time to share with you a few biz basics that you won’t want to miss and are sure to help you in building a successful year ahead.
Set goals – While most see the New Year as the time to set goals, for those of us working with children and in the school setting, now more than ever seems like the right time to go through this process. Get clear on how many classes you want to teach this coming school year? How many students? How much income do you want to earn after expenses? The fourth quarter is a powerful time to look at where you want to be by the end of the year. So make sure you are on track now. Set realistic goals and devise a plan to make them come true!
Review your profit and loss reports – Where do you stand right now? Are you making money and in the black? Or in debt and swimming in a sea of red? If your profit is larger than expected, then it may be a good time to make a purchase (ie. new computer, roll of Yoga mats, props, etc.) that you’ve been holding back on that can be depreciated. I recommend that you ask your accountant to explain the depreciation rules but know that it’s in your favor, especially when your income is more than your expenses. If your profit is less than expected, it may be time to reevaluate your methods and seek some advice.
Take a physical inventory of your products & props – As a Kids Yoga Teacher we have lots of goodies that help us to make our classes come alive. Books, puppets, playlists – the list goes on. But there is nothing worse than going to teach a class and not having the suplies you need or worse, not knowing where they are. Microsoft Excel is a fabulous tool to use to organize your “stuff” including class themes, materials and quantity. In addition, if you sell products, like t-shirts and Yoga mats, now is the perfect time to make sure that you have exactly what you need in order to serve and sell to your students this coming year ahead. If your stock is low, you’ll know it’s time to replenish.
Get support – Marketing your classes, budgeting your finances, writing proposals, and negotiating contracts can all be new, confusing and overwhelming during this important time of year. Be open to the fact that even though you are in business for yourself, you don’t have to do it by yourself. Ask a colleague to be your accountability buddy, join a Mastermind or hire a coach – there is so much to learn from others, we just have to surrender to saying yes to support.
Take care of yourself – Back to school can be a busy time of year and oftentimes busyness yields stress. For most people, when we get busy and stressed, one of the first things to go is time for ourselves. We all know how important exercise, eating well, good sleep and slowing down is for us, then why do we bail on it when the going gets tough? Make a commitment to yourself now to practice self-care and do something kind for you, every day. Put it on your calendar, write it down first thing in the morning, and treat it like any other appointment, so you know you won’t miss it!
I truly hope these strategies help you to kick off the back school season with confidence, clarity and success.
What biz basics are you implementing during this time of year? Leave a comment and share with us so we can all learn from you.
In support of you,