Here's the questions:
If you don't know the answer to questions 1 and 2, even if you have time to go away and check your records (or you're thinking "what records?"), and you answered "No" to question 3, then perhaps this article is a useful one for you.
Here are some of the mistakes I see yoga teachers make:
MISTAKE 1: Have no idea what your costs are!
What are the TRUE costs of you doing your current teaching? Do you actually have any idea? Or is it a rough guess?
Do you buy incidentals like candles or incense, but find yourself not keeping receipts or saying things like: "Well it's just a couple of pound." Doesn't matter if it's not in my accounts.
Do you teach solely in other studios or gyms - so you don't really count your travel costs or your insurances when you calculate how much you're actually making for your teaching time and commitment?
Do you teach your own classes, but not really keep receipts or check your accounts regularly?
Do you find yourself feeling a little resentful - then feel "bad" becasue you're a yoga teacher - and this is about giving and being a caring person - so somehow the money side makes you feel uncomfortable?
Now if you're in teaching with NO aspiration to make any money from it - then that's fine. Presumably you have some other way of surviving and paying your bills - and this is your "give back" activity.
But if you were hoping this new found skill and passion, for which you are likely to have invested thousands in training, would help Yyou to transition you to a new career, which could sustain you AND your students - then you REALLY need to get a grip on the maths!
MISTAKE 2: Have no proper accounting system (which you check monthly at a minimum if you're running your own classes)
One yoga studio I helped hadn't done their accounts for the whole of their first year!
They had not set up even a basic paper set of books - no-one had been checking their receipts and their bills were all over the place - and I can only imagine their accountant would charge a fairly hefty amount to try to sort all that out into the basic figures they'd need to submit for their end of year accounts.
And they were also missing out on understanding exactly what was happening in their business - how many students did they have enrolling for full memberships? How long did they stay? Which classes were more popular? Who took up offers? This lack of anlysis of what was actually going on in their business meant they couldn't even plan effectively - what to keep doing - what to stop. Crazy!
I've been there - ignoring money until it turned round to bite me on the bum because I was in debt I needed to fix! It's not pleasant.
We are in a better position to help others, when we are strong and stable ourselves. I call it self care - not self-ish.
I call it "respecting" our own needs - as well as those of others.
I've learned if I don't master money - it masters me - and thats' why getting this right is SO important.
So get a proper accounting system!
Paper based if you're not aspiring to anything other than "pocket money" - a proper system such as Quick books or Sage if you would like to make this more of a career.
If you're teaching solely for other studios etc - then at the VERY least, keep track of everything you spend which is yoga related. Everything!
And at the end of a month - or 3 months at a stretch, take an hour or so to work out what you've earned, minus your costs - and work out your hourly rate of pay - because that's what it boils down to.
I've had some teachers tell me they could earn more at McDonalds per hour than as a yoga teacher.
Again - you might be happy with that - you just love teaching yoga. And that's fine.
But isn't it better to know - and then choose if that's what you want or not?
My own business mentor calls this a "spray and pray" type of approach.
You try out working for a few gyms/studios - to build your confidence, (which is fine for a short period) hoping this will lead to more and then you'll grow.
There is nothing more honest than the numbers. Numbers no only don't lie - if you know how to read them right, and what numbers to focus on - you can build something worthwhile, which is sustainable and helps hundreds of students in the process.
There's nothing more disheartening than seeing a good yoga teacher end up giving up because they end up feeling they just can't make any kind of living from what theyre doing.
Not only do they lose out - but the hundreds of students they would have taught - who would have benefited from their teaching.
Don't let that happen to you.
Get on top of your numbers!
Have you ever watched Dragon's Den?
Ever watched some hopeful entrepeneur come in all passionate, with an idea for their business, wanting financial support from the dragons only to be told their idea is not workable? Sometimes the Dragons are totally ruthless in their comments, telling the would be entrepeneur to go home, stop investing their time, energy and money and forget their idea. (Sometimes when they've already invested serious time, money and energy already.)
And whilst the Dragons aren't always right, they're dragons for a reason: they understand good business strategy. Theres a common saying that insanity is doing the same things over and over - and expecting different results.
Getting good at understanding when to quit and when to change track will be REALLY helpful as you decide how to move forward with your yoga teaching career or business.
Follow these general principles and you won't stop making mistakes - but you ARE more likely to recover from these more quickly and more importantly, learn how to move faster to something which DOES work better for you, your sanity and your lifestyle!
Are you an optimist or a pessimist?
Which is better if you want to build a yoga career or business?
Just before the dot-com bubble burst in the 1990's, Alan Greenspan, the then Federal Reserve Board chairman, called the optimism about the dot.com market "irrational exuberance", which was interpreted as a warning that the market might be somewhat overvalued.
Of course, we all know what happened - the bubble burst, and hundreds of entrepeneurs and businesses lost millions when the market crashed.
But it can happen anywhere - even in aspiring yoga teachers!
Fired up with your passion for yoga you start to dream about how life could be if you did what your yoga teacher did.
How chilled you'd be.
How you'll give up the job which is getting you down/boring you/stressing you out - and leave the rat race for a different sort of life, where you glide, swan like into your yoga classes, full of students eager to learn from you. Where the income you need to sustain you and any partner or family will come from doing what you love.
Of course youll need exuberance, passion, energy and enthusiasm to build your yoga business and career. Building ANY business or career takes time, energy, money and levels of commitment you may not realise or believe if you've never given the world of the entrepeneur a go.
Think warrior!
Think Tadasana.
Heck - just STOP AND THINK!
I know this is a drum I keep banging - but I can't over-emphasise how important it is to have a good dose of "seeing things as they are, and acting accordingly."
Because irrational exuberance usually ends in tears, frustration and a huge sense of failure which can feel very painful.
Trust me - I've been there!
And I don't want that for you.
What Tim Ferris taught me about overcoming fear.
Have you ever read the book by Tim Ferris: "The four hour work week"?
It caused a sensation when it was first released - and it's certainly worth checking out if you haven't read it. Successful author, entrepeneur and at just about everything he turns his hand to, this guy has a really fascinating approach to what he does which quite clearly makes him so successful.
In a recent interview a couple of things he said really resonated for me. Because when the interviewer asked him what he thought made him so successful he said 2 things:
Whoah!
Simple - but powerful mindset or what?!
Because, once you see something as an "experiment" - something shifts inside.
You know lots of experiments don't work out. (Took Eddison thousands of attempts to make the light bulb for heavens sake - and don't get me onto how man learned to fly!)
It's not only OK for an experiment not to work out - it's kind of expected!
You never start an experiment without having done some research into a specific area - and a theory about what might work - and you ALWAYS realise you're going to have to test things - maybe try a few different approaches, before you make your experiment work.
Might that seem a less frightening thought?
And it kind of links to the second piece really doesn't it? Because if you're going to experiment, you're oging to need to invest something - time, energy, money - maybe all three - but invest you must.
Because YOU set the boundaries.
YOU have control.
So - whatever it is you've been thinking of doing with your yoga teaching skills - try seeing it as an "experiment."
Do your research. Set up a theory about what might work - based on good "due diligence" (see my blog on this subject - surely it makes sense to set up the experiment to succeed rather than not work out?!) - and then test your theory out!
I HATE failing!
I've lost count of the number of times I've failed! And never as much as when I started trying to build a business. I've had more metaphorical bruised knees (replace with ego!) than you can count salute to the suns I've done! (And believe me I've done a few!!)
But somehow, I keep getting back up and soldiering on.
And this quote, placed strategically above my desk, stares me in the face when I look up. It's a constant reminder that quitters NEVER win - and that if my dream of making a sustainable income from yoga is ever to be realised, I must learn from my mistakes, tweak what I do, and keep on keeping on.
When we make changes to our lives in order to create changes in our lifestyles, it's inevitable we're going to step out of our comfort zone and make mistakes.
If you're a parent, do you chastise your child for making a mistake, tell them they're useless and to give up?
Here's hoping the answer to that is a resounding "NO!"
So why do it to yourself?
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Truth?
This title comes from a quote I have above my desk - which isn't mine.
It's a quote from one of my business coaches - and it actually reads:
I used it a lot building my coaching business and it's still there, staring down at me from my desk today.
Every time I find myself wobbling; procrastinating; beating myself up or facing a set back I look at that quote - remind myself WHY I wanted to be a yoga teacher; what kind of lifestyle I wanted to create for myself - and the fact that as an employee I would never have that option - and I start over.
You regularly hit the mat.
You regularly focus your mind as you move into each posture.
You calm the chattering, jttery mind as you become more mindful or meditate.
Don't underestimate your ability. And know this: the sad fact is, most people WON'T do what it takes to create the dream they talk about. They'll talk a lot - but they won't do what it takes.
One of my recent Yoginior blog posts was about the importance of doing your research (or "due diligence") before you invest a penny in building a yoga career. (If you've not read it - I seriously suggest you do!)
It's the first step ANY serious yogi should take before they do anything - and whilst it may take a little time, down the line it will save you time, energy and money.
One piece of research you'll almost certainly do is to find out what other yoga teachers are doing, both locally, and elsewhere.
There's NO doubt thats a good idea.
You can suss out websites; get ideas; find out what others charge and get a feel for their approach - all of which can help you think about how you position yourself in the marketplace.
Because the likelihood is - it will!
Take me for example.
Because when you start looking at others - you start comparing yourself with them.
And so many of them seem so much further on than you.
Your heart sinks. Fear rises.
Next thing you know - boom! You're feeling completely rubbish; intimidated and overwhelmed by how far behind it seems you are.
These teachers are so good! They've got their act together. How on earth can you compete with that?
For a start, remember every single one of those yoga teachers started where you are right now - with nothing but a passion for yoga and a yoga teaching certificate!
And one day - you'll be where they are - or further!
How many yoga teachers do you know who are making anything like a decent living from their yoga?
Recently, I've been trying to build relationships with other yoga teachers in my area. I wanted to link up with other teachers who might cover my classes for me (and vice versa) when I needed it, but I also wanted to network, to look at how we might collaborate on projects and support one another. (My observance of the Yamas" I guess.)
One lovely yoga teacher I met 13 years ago when I was starting my coaching and training business, I found had opened up a yoga studio in Doncaster - which looked beautiful and I imagined was really successful.
We first spoke on the phone, then met - and, whilst her passion for the studio vision was clear, she talked of it being "an expensive hobby". She is holding down a full time job, a mother of two young children, teaching 5 nights a week (still at other gyms as well as her own studio!) and feeling a little "weary" about the whole thing. The studio is struggling; and they are only just managing to pay the expensive rent - with little, if any money for their actual teaching.
They're teaching for the love of it - that's all.
Like yoga teacher training, coach training schools - especially 13 years ago when I was a student, were BIG business.
Those courses cost hundreds, if not thousands of pounds - but whilst there are no accurate statistics one piece of research suggested that the average coach makes less than £12000 a year from coaching. I knew LOADS of coaches like that - and many of them couldn't survive - so they went back to their old jobs.
I didn't.
I realised early on, that no matter how much I knew about coaching, no matter how many courses I went on to get better at my coaching - if no-one knew about me, or actually wanted to pay money for how I could help them - then I'd have to go back to my old job too.
So that means you HAVE to learn about how to get and keep students/clients - call them what you will.
If you don't - not only do you lose out on your dream of helping others - but all those people you could have helped miss out on your teaching and skill too.
And that is tragic.
Because I'd love to see more trained yoga teachers out there - having fun teaching, whilst being fairly recompensed for their skill and knowledge.
The alternative is to teach part time for other studios or gyms - and this might be the best option for you if the whole idea of sales or marketing makes you shiver!
Are you considering investing in yoga teacher training? Not sure having read this if it's right for you?
Take a look at an earlier article which gives you 3 simple questions you really would benefit from answering before you invest a penny in yoga teacher training.
For some of you reading this - it might be the best thing you could do!
Let me know what you think.
I'm BIG on ANY aspiring yoga teacher doing what I call "due diligence."
What do I mean by that?
I mean DON'T jump into developing your yoga career without giving it some serious thought and ALWAYS do the following 3 things:
In the words of my own business mentor THIS IS NO PLACE TO SKIMP.
But your research should be led by your answer to question 1.
Want to teach at gyms or studios? Research which ones you'd like to work at. Draw up your "ideal wish list" - then prepare to approach them!
Want to set up classes of your own/run workshops or retreats? Research venues/costs/other retreats and offerings out there.
Want to target a specific market/demographic? Research where your target students hang out/live/work. Research who else sells to these people - could you collaborate? Get to know everything you can about your target market. (Watch out for another blog post on this one - it's absolutely critical to getting, and keeping your students.)
You get the picture. Obvious huh? You'd be surprised how few people do this diligently. (Me included when I started my first business!) But this will make the next steps SO much easier.
Actions you could take right now!
A great quote from Mike Dooley's Universe quotes:
"You chose your dreams for the journeys they'd make possible, and you knew when you chose them there'd be obstacles, crises, and young souls who'd stand in your way. They exist by design. To tempt you, lure you, test you. So that you can come back, prevail, rise above, and rock on. And ultimately to convince you of your awesomeness. They're part of the plan. There've been no mistakes. All is supremely well.
These are the days, mid-adventure, that will mean the most to you.
Enjoy the journey."
Even the yogic calm gets tested! One step in front of the other! The dream is worth it!
FACT: Yoga teacher training is a significant investment!
Costs tend to average around £2500 or $4500 mark - NOT including any travel costs and sometimes not even including the required reading list!
Despite this, more and more enthusiastic yogis are paying this significant amount of money to become registered yoga teachers.
Investing in ANY kind of learning is valuable. I know. I’ve invested thousands myself.
But would you spend thousands of pounds without at least doing some homework first?
Hopefully, at the very least, you’ll be researching a number of providers - just like you would universities you might like to study at.
But even more important in my experience, is being clear about what you want to DO with those qualifications at the end of it - so you can work out if yoga teacher training is actually the best way to help you achieve your goals.
It makes sense, if you are even thinking of investing what is a significant amount of money in yoga teacher training, to ask yourself some direct, sometimes tough questions first.
Seriously. Keep your credit card in your pocket - and do this first!
Don’t just read this. Grab a coffee - a pen and paper - and write down your answers. Then leave for a couple of days to mull over and see if anything else occurs to you. As a coach, I find this process is great for “seeding” our brains with important questions. You’ll find other things pop into your head over the next couple of days which are important for you. It’s useful reflection! And once you’ve done that you’ll feel more confident about getting out that credit card - or not, as the case may be!
3 key questions to ask yourself before investing in yoga teacher training:
Finally, if - having answered those questions you realise you still want to teach - then you're ready to embark on a journey.
I don't know what type of work you do now - but it's likely when you first began you had a lot to learn, you may have studied at university or some other learning institution before hand - and then you had to slowly find your way on your chosen career at that time.
Becoming a yoga teacher is no different.
There is no magic bullet to success - but it's highly unlikely making anything a successful career just "happens." It happens because you are clear what you want; you take the right steps to help you move down that path - and you stay focused.
And if you're ready to take that journey, then you can shorten the time it takes to get there, and be more effective if you follow some guiding principles and steps - and that's what Yoginiors is all about.
Actions you can take: