This week is all about pivoting or changing your business set up
We started off with Greg on Monday and he discussed how he transitioned from face to face to online yoga & back again 🧘🏻♀️
A great interview for those of you looking to transition your businesses online or visa versa
Today I'm sharing with you what we're doing here at DKnine to transition and help grow our business at a more profitable scale 🙌🏻
Just in case another lockdown happens, and so we never struggle for cash again
You see, this year has been a little bit all over the place
2 lockdowns, the first 4-5 months and second, 2 weeks
We've created online sessions, changed prices, lost clients, gained clients
And so we're having to change the business model so if this happens again, we have a secure future 😁
The best way to do this is to have as much money in the bank as possible
To do this, we've had to think about how we're going to change our business
So we can be as profitable as possible but also deliver the best value to our clients
The biggest change we've made is introducing normal chart music 🎶
We've paid for a music license
This will increase inspiration and motivation because they will be finally listening to music they love
Yes this costs a little, but this should result in taking more clients in at higher prices 💰
Here's what else we are doing ⬇️
Currently, we have a team training programme (12 people)
And we have a small group programme (5 people)
The issue we have is that 80% of people are on our TT programme
This doesn't make financial sense for us
So we're changing the name of our programmes 🤗
We're going to have a 'get lean' and 'get strong' section and clients will have access to both
Each section will have a 12 person capacity
All prices will come down from £129 (SG) or go up from (£69)
And the price across the board for membership will be £97
This will make it much easier for us to know how we will grow
Yes, we will have painful conversations with founding members to let them know their price is going up 🤯
And we will have to sell to people going up from a 5 person capacity class to a 12 person
By doing this it makes more business sense for us
We know how many people we need to hit the numbers we want to get to
The inital aim is 120 clients, that's roughly £12000 a month 🙌🏻
We will make a decent profit from this
To make this happen we are investing
The music license was the first step
We are also investing in a new rig & equipment to give us the capacity to run the 'get strong' programme
All of these changes are making our business better & more robust when it comes to lockdown ✅
Now it's over to you to look at where you are in your business
Make sure it all makes financial sense
This lockdown scared us, if we don't make the money we can't pay anyone
We need to start saving cash in the background so we have something to fall back on 💪🏻
David :)
