| Today, I am going to share a fundamental | | | | qualified teachers and a space to teach yoga. If |
| formula for running a successful business - it | | | | you sell products, it means buying inventory. |
| works for just about ANY type of business. It | | | | That's it (It's much easier after doing steps 1 |
| works for IBM and Chevrolet, and it also works | | | | & 2). |
| for the restaurant down the street. In fact, I use | | | | 4. Let them know you have it AND what it will do |
| it with most yoga studios. | | | | for them. The folks at Kona's are great at this. |
| Very simply, there are five steps to running a | | | | They advertise in just about everything that the |
| successful business: | | | | university students read. They provide coupons, |
| | | | because students always want to save a buck. |
| 1. Decide who will you serve | | | | They let students know that the sandwiches are |
| 2. Find out what they want | | | | freshly made, taste great and will fill them up. We |
| 3. Get it | | | | all seek to avoid pleasure an pain (though most |
| 4. Let them know you have it AND how it will | | | | people will do more to avoid pain than they will to |
| help them | | | | gain pleasure). For Kona's, this means letting |
| 5. Give it to them | | | | students know they will avoid the "pain" of |
| That's it. Class dismissed. Okay, so you want | | | | spending lots of money. And, they will have the |
| some explanation? Let's take it one step at a | | | | "pleasure" or benefit of having a fresh sandwich |
| time. This will take a few minutes to go though, | | | | that tastes great. |
| but I promise it's worth it. And, at the end, I'll give | | | | Notice that when we talked about pre-natal and |
| you a way to evaluate your own studio. I'll use an | | | | stress-relief yoga, we addressed this too. |
| example of Kona's sandwich shop, a restaurant | | | | Pregnant women spend time in Ob/Gyn offices, |
| near where I live, then we'll also apply it to a | | | | so we want to put coupons or postcards there. |
| studio. | | | | And, we don't use generic ones either - they are |
| 1. Decide who you will serve. You will do far | | | | simple and specific. Basically, they say "you won't |
| better in business if you can narrow down your | | | | feel as much childbirth pain if you come to our |
| audience. Select a niche (or a number of them). I | | | | studio and do yoga!" That's all it takes to |
| like to consider three criteria in choosing a niche:a) | | | | persuade many women to give it a try. |
| Can they comfortably afford my products or | | | | 5. Give it to them. This means that you have to |
| services?b) Can I easily reach them (advertise | | | | provide whatever your selling in a comfortable |
| & market to them)?c) Are they likely to be | | | | and convenient way. No one wants to wait in line |
| interested in what I'm selling (Does it ease some | | | | too long for a sandwich, nor do they want to |
| discomfort or provide some pleasure or benefit)? | | | | have no place to sit and eat it. Kona's has a |
| Kona's sandwich shop is near a state university. | | | | sandwich assembly line with one person putting on |
| They aim to serve students - this is their primary | | | | each layer of the sandwich, so the customer gets |
| target market. Here's how they do on the niche | | | | it quickly. They provide lots of indoor and outdoor |
| criteria. First, students are often low on cash, so | | | | seating so customers receive a positive dining |
| they sell low-priced sandwiches. You can get a | | | | experience. |
| good sandwich and a drink for under $5.00 (they | | | | Kona's has been one of the most successful |
| probably couldn't make it selling sandwiches for | | | | sandwich restaurants in town for over 20 years. |
| $12.95, as downtown restaurants do). Next, | | | | In our sample studio, this is where the "rubber |
| students are mostly located on the university | | | | meets the road." I believe in giving students an |
| campus. They can be reached through on-campus | | | | "Exceptional Experience" (as I've talked about in |
| ads, university newspaper, etc. Finally, students | | | | past newsletters). When a students leaves your |
| need to eat, and a take-out/eat-in place like | | | | studio feeling like they are truly a being of spirit |
| Kona's fits their lifestyle well. | | | | and light (or their back hurts less, or they are |
| What are successful niches for a yoga studio? | | | | losing weight, etc.) then you have successfully |
| Back pain relief yoga, pre-natal yoga, weight-loss | | | | delivered what you promised. Not only will they be |
| yoga, stress relief yoga, etc. Many studio owners | | | | back, but they will bring their friends. |
| feel they serve everyone. This may be true, but | | | | Now let's apply it to your studio. Ask yourself the |
| your students want to feel like you specialize in | | | | following questions: |
| their needs. If you offer weight-loss yoga, you | | | | |
| can probably find potential students at Weight | | | | 1. What niches do I serve? Do I advertise or |
| Watchers, Overeaters Anonymous, a local gym, | | | | market to them specifically (or do you just post |
| etc. There are clear ways to contact them. If | | | | generic yoga fliers everywhere)? |
| they are already participating in another program | | | | 2. What is the real reason they might want yoga? |
| to help with weight loss, they can quite possibly | | | | What pain or discomfort in their life do they hope |
| afford yoga too. | | | | it will ease? What positive benefit will it provide? |
| 2. Find out what they want. Kona's tried serving | | | | 3. Now that you know what they want, ask |
| everything from pizza to baked potatoes over | | | | yourself: Do I have the staff and space I need to |
| the years, but again and again, they found that | | | | serve these people's wants and needs? |
| students just want a basic sandwich. A low-priced | | | | 4. How am I targeting these potential students? |
| one that is freshly made. So this is just what | | | | Where do they spend time? Am I clearly letting |
| they serve. | | | | them know what results they will see in their life |
| Looking at a studio, even though the class might | | | | from yoga (or do I just let them know they can |
| be the same for some of the niches we've talked | | | | come to my studio for yoga, but figuring out the |
| about, the reason people come is different. You | | | | results are their business)? |
| MUST clearly know why these people might want | | | | 5. Am I providing an exceptional experience to |
| to come to your studio. This means that you | | | | my students and clients? Do they leave my |
| want to put coupons that say "Easier Childbirth | | | | studio feeling "Wow, that was great!" |
| and Less Pain - Try Pre-natal Yoga" in an OB | | | | It takes some patience to go through these (and |
| GYN's office. But the therapist's office gets the | | | | some brutal honesty), but I have yet to see a |
| ones that say "Did you know that yoga can | | | | studio that has completed these steps thoroughly |
| relieve stress and anxiety?" | | | | and is not successful. |
| 3. Get it. This means get whatever you need to | | | | Namasté, |
| provide the product or service to your | | | | Al Lipper |
| customers. Kona's got the ingredients and hired a | | | | Coach Al Lipper |
| staff of sandwich-makers. This is all they need. | | | | If you found this information insightful, pass on |
| For a studio, this step means that you need | | | | the good fortune to others right now. Thank you! |