Can you believe we are already at the end of January?! So how is your 2019 kicking off? I hope great!
For many of us Kids Yoga entrepreneurs, in The Biz of Kids Yoga (TBoKY) Community, we are looking at our financials from 2018 while also setting income goals for the year ahead. Just recently, one of our TBoKY members shared, in our private Facebook group, an amazing celebration about her last year’s earnings.
“Hi All! Wanted to celebrate a big win for me this past year. I exceeded my income goal. I officially went over $100,000 in income this year! $106,509.50 to be exact. It was my goal for 2017 but didn’t quite make it, but for 2018 I did. Super excited about it. Now to look at cutting expenses and getting rid of things I do not need. I also implemented Profit First! I highly recommend the book. And I received two quarterly profit checks from my business. Looking forward to the new year! Do you guys set income goals?
But what stood out to me the most is that making six figures in the Kids Yoga space IS very much doable! Of course, I know this to be true, because I have (humbly) been making this kind of money for ten years now, but I think so many do not believe it to be possible. And so I asked our fierce TBoKY leader to share how she broke the $100,000 mark in 2018. Here’s what she wrote:
“I need to be more specific for next year but about 35% of my income comes from Private/1:1 clients, 30% from studio classes (including adult & kids classes, workshops, retreats), 11% schools, 9% renting out my studio, 15% is grouped with “other” – which I need to be more specific about for next year.”
So, dear one, I share all this with you because I want you to really get a few things:
- Set financial goals. Don’t just wing it and hope it works out. Take the time to look at what is possible and then do whatever it takes to meet your goal.
- Diversify your offerings. While it is possible to make six figures in the Kids Yoga industry, you’ll need to have multiple streams of income, not just teaching classes. What other services can you offer?
- Surround yourself by those who inspire. Have a mentor and a community who support your business goals, can hold you accountable and celebrate your wins!
- Believe in you. If I can do it, if this woman can do, you too can do it. We are no different or better than you – just a bunch of committed Kids Yoga entrepreneurs willing to believe in ourselves and go for our goals.
You can do this!
In support of you!
PS – I love these kinds of conversations and explorations about how to grow your biz. If you’d like to have one with me, let’s chat! Email me now and we’ll schedule a call to see how I can help you take your Kids Yoga biz to the next level.