Business basics.

  • We will need to reduce our expenses to run a "tighter" business

  • Reducing staff hours / cutting staff

  • Perfecting the timetable

  • Using less electricity

  • Renegotiating bills where possible

  • Seeing where money is wasted (not helping to grow the business or directly increase income)

  • We will need to improve our retention rate and strive to for longer lasting customer relationships

  • Creating the best possible experience for customers (students and their families)

  • Offering the highest quality dance tuition and training

  • Providing purpose for our students

  • Celebrating every individual

  • Producing WOW-factor moments

  • Leveraging the human need for "belonging" by prioritising community within the studio

  • We will need to attract more customers, to replace the ones we lose, and new ones to grow the business

  • Advertising across multiple platforms

  • Growing brand recognition with plenty of community engagement

  • Utilising existing customer relationships

  • Setting up a powerful and effective "funnel" with a clever website

  • Investing wisely into measurable and successful paid advertising

  • We will need to look at future pricing strategy

  • Researching our local market competitors

  • Having real conversations with clients

  • Being prepared to lose 10% of our customers for 20% more revenue (as an example)

  • Strategising a roll-out that is reasonable, palettable and doesn't shock existing customers

  • Offering clever little bonuses that provide significantly higher perceived value, so that when we charge more our customers get more

  • Finding additional revenue streams within the business

  • Using pricing psychology to encourage more classes and upsells from each customer

  • We will need to have more fun

  • There's really just no point in doing what we do unless we as studio owners are really enjoying it

  • Building stronger relationships with our team and surrounding ourselves with people that we really love to work with

  • The more we love it, the more energy, enthusiasm and excitement we will bring to our studios, and the more our customers fall in love with it too (they care when we care)

  • Redesigning our own role within our businesses so that our time is filled predominantly with the tasks that we enjoy and that we are brilliant at

  • Improving our relationship with our business and the balanced role that it has in our lives for longevity, consistency and to avoid building resentment about the sacrifices we make

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