The Studio CEO: Business Coaching For Yoga & Pilates Teachers & Studio Owners

Unlocking Seven Figure Success: From Owner to Studio CEO

• Jackie Murphy • Episode 1

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Welcome to The Studio CEO Podcast episode number 1, "Unlocking Seven Figure Success: From Owner to Studio CEO."

In this episode, you'll learn:
-What Jackie created in the podcast hiatus
-The difference between a business owner and a Studio CEO
-What to focus on to ensure long-term success and sustainability
-How to enroll in The Pack Your Classes Challenge

Are you ready to uncover the strategies for expanding your yoga or Pilates business and evolve from a regular business owner to a successful Studio CEO?

Join me, Jackie Murphy, in our first episode, where I'll share valuable insights from my journey and the achievements of my clients.

Learn why embracing a CEO mindset is crucial for surpassing financial limits and realizing your monetary aspirations, whether reaching your first $1,000 month or hitting the seven-figure milestone.

We'll delve deeper than just day-to-day tasks to focus on strategic expansion, leadership development, and the significance of staying passionate while efficiently delegating responsibilities.

Prepare yourself for an exciting chance to propel your business with our upcoming "Pack Your Classes Challenge," which starts on September 9th 2024.

Over five transformative days, you'll receive targeted training to help you attract more clientele, enhance your leadership skills, and attain your business objectives. 
Don't overlook this opportunity to make a substantial impact while enjoying yourself. 
Enroll via the link provided in the show notes and take that initial step towards becoming the CEO that will drive your business forward. 

Tune in and gear up for a flourishing future full of growth opportunities!

Work with Jackie Murphy

Start with the Pack Your Classes Challenge
Learn about The Business of Yoga Program
Apply for the Mastermind

Speaker 1:

There's a way for you to have enthusiastic buyers in your yoga or Pilates business, but in order to create that, you actually have to stop thinking like the business owner. Welcome to the Studio CEO, the only podcast that empowers yoga and Pilates teachers and studio owners to step confidently into their role as CEO. If you are ready to show up with passion, take your business seriously and scale to new heights without burning out, you are in the right place. I'm your host, jackie Murphy, an award-winning certified business coach with over 12 years of experience inside the yoga industry. I have seen firsthand what it takes to build a profitable and scalable business. Join me as we dive into strategies, insights and real world advice that will help you grow your revenue, build a thriving team and create a business that serves you as much as you serve your students. It's time to embrace your inner CEO and make more money without working more. This is just the beginning. You are listening to the Studio CEO Podcast, episode number one. Welcome if you are a brand new listener and welcome back if you have been a listener of the formerly Yoga Boss Podcast for over four years. I am Jackie Murphy and I am now your business coach to help your yoga or Pilates business go to the next level, whether that means for you starting to make your first $1,000 a month, or it means making your first $10,000 months, or it means turning your $10,000 months into $100,000 months so that you can run a seven-figure yoga or Pilates business.

Speaker 1:

Over the last few months, I have taken a hiatus from podcasting. I started the Yoga Boss podcast in December 2019, and I released an episode per week until just a few months ago, and I pulled back from releasing that podcast so I could really think about where my business was headed and how to best serve you in that transition. The studio CEO was birthed from that time off. Now, in this episode today, I'm going to explain to you exactly why thinking like a business owner is not going to take your business to the next level and what you need to do instead. But before we dive in, I want to acknowledge this the Studio CEO Podcast does not mean that you have to have a physical studio space. This podcast is not about the container in which you operate business in, but it is about how you can operate your business in any container to create success, and I'm going to break that down bit by bit as we go through episode number one, but I created the Studio CEO podcast so that you can have lots of enthusiastic buyers. How many of you would like more enthusiastic buyers People ready to pay you, people ready to sign up for 12-month commitments, people ready to go on your retreat with you? Or how many of you have a lot of followers, or even just a few followers, but you actually want them to be converting and buying your paid offer? That is why I created the Studio CEO Podcast.

Speaker 1:

If you've been around for a while, you know that for a long time, I have been teaching people how to shift their thinking, how to specifically go from being a yoga teacher the skill or the talent of the business to thinking like a yoga boss or thinking like a business owner, and there's 216 episodes where you can really dive into how to think like a business owner and become a yoga boss. However, as I've grown and as my clients have grown, I've realized that thinking like a yoga boss will only get you to a certain level of success. Eventually, thinking like a business owner is actually going to hold you back from the next level of growth that you and your business are meant for, because you'll lack a set of skills that you haven't learned yet. So what has to happen is that you have to understand the difference between thinking like a business owner and becoming the studio CEO. So I'm going to break that down for you so that you can really understand what the role of a business owner is and the role of a CEO is, and how they are actually different, so that you know where you might be holding yourself back in your business. If you're in a business plateau, if you've been making certain income months again and again and again, but you can't seem to jump beyond that. This might be the very reason why. So let's talk about it.

Speaker 1:

When you have a business owner mindset, what are you focused on? The business owner is focused on day-to-day operations. They are making sure that everything runs smoothly. Are the classes scheduled correctly, is the studio clean, are the bills paid. You're really in the business, doing the day-to-day operations. You are directly involved or hands-on with managing those tasks. Even tasks like customer service or ordering more inventory or even teaching classes is something the business owner may do. You may be going through your day thinking, okay, I need to reply to that client email and I need to make sure that we get another shipment of yoga mats because we're low on our rental mats. That is the direct involvement that you'll experience as a business owner. Oftentimes, because of this direct involvement and this hands-on requirement that the business owner role entails, you will accidentally be thinking in term of short-term survival. You'll be thinking of the immediate needs of the business, such as cashflow covering your expenses or maintaining your customer satisfaction, literally thinking how can I get more people in the door this next month and how am I going to cover payroll next week? Those are reactive thoughts, showing you that you're operating like the business owner, oftentimes because you love what you do and you are deeply passionate about the service that you offer.

Speaker 1:

Business owners can be deeply attached to their business, even viewing it as an extension of yourself. You may say things like this business is my baby. I need to make sure it grows and thrives. And when you do that, you may find yourself doing it all by yourself. You may think that you need to do everything yourself, from bookkeeping to teaching classes, to hiring, to training, to leading a teacher, to leading the retreat that you're going to go on. You are caught in the game of I'll just do this task quicker because I'll do it by myself instead of thinking long-term. So here's the bottom line In order to grow and scale a deep six or seven figure business, you actually have to become what I have created and coined as the studio CEO. Now, remember this is not talking about the four walls of a studio, although it may be if you operate your business in that way.

Speaker 1:

Becoming the studio CEO does not mean opening a studio yourself. It's not about the container. Becoming the studio CEO actually goes back to the root word of studio, which is a Latin word. It comes from studium and that word, if you look up what it means, it means zeal, passion, enthusiasm, passion, and what you have to take from that is how do I show up as the enthusiastic, passionate person in my business every single day?

Speaker 1:

How many of you have been in business for a while and you know there are days where you are lit up with what you're doing. You're excited to go out there and teach a class, and you know there are days where you are lit up with what you're doing. You're excited to go out there and teach a class, or you're actually fulfilling on the retreat that you've sold, and the enthusiasm and the passion is radiating from your being. You've all been there. You wouldn't be in this specific industry if you hadn't felt that your passion is what made you want to create a business. But I know there's also some of you who have to sit down to look at your payroll and to look at your expenses and forecast your revenue for the next year and think about your operational growth and who you're going to hire and when you need to hire them. And then the passion fades and you start to feel yourself bogged down and bored by these tiny little details. And if that is your experience, that is just the little light bulb. I need you to know that you have not been operating as the studio CEO quite yet and of course, not because no one has ever told you that that is what's important for your next level of growth.

Speaker 1:

I want you to think about the bamboo plant. The bamboo plant is one of the fastest growing plants in the world, and certain species of bamboo can grow up to 35 inches or 90 centimeters in a single day under ideal conditions. Before they have this rapid growth phase, bamboo plants spend years developing an extensive root system underground, which is critical for their eventual above ground growth. This is the enthusiasm and the passion that you have to demonstrate as a studio CEO. Bamboo's explosive growth after years of patient preparation is a metaphor for that enthusiastic perseverance. The plant demonstrates how daily unseen efforts can eventually lead to dramatic and rapid success much like enthusiasm in action over time. Now think about this If the bamboo plant only grew roots on the days that it felt good or the days that it had energy or the days that it was excited, it would not ever experience the rapid success and the rapid growth later on. So this is your wake-up call to realize that you can't only bring the enthusiasm and the passion to your teaching. You can't bring the enthusiasm and passion on days where you feel like it.

Speaker 1:

Becoming the studio CEO is about harnessing your enthusiasm and your passion every single day. When you're looking at your taxes, when you're interviewing for your next role, when you're leading a team meeting, when you come with that enthusiasm and passion, when you're selling, when you're marketing and you do it daily, day in and day out of your business it is inevitable that your business can and will experience that rapid and dramatic success and growth. Your enthusiasm in action over time is what will help take you to that deep six or seven figure business. Now, the second piece of the studio CEO is the CEO part, and when you think about a CEO, the CEO is the leader of the company. The CEO is the leader of the company. The CEO has strategic vision and is looking at the big picture, focusing on the long-term goals, growth strategies and the direction of the business. The studio CEO will automatically answer the question where do I want this business to be in five years? How can we expand our reach and our impact to fulfill on our vision and our mission?

Speaker 1:

The CEO mindset takes the business owner mindset to the next level. The CEO mindset is all about leadership and delegation, and a CEO is gonna be more focused on creating and leading a team to empower other people, to delegate tasks to ensure the business scales effectively. So, instead of thinking, what do I need to do today and how can I create this result myself by myself, the studio CEO is going to be thinking who's the best person to lead this new project? How can I support my team in order to help accomplish our goals? The mindset is completely different. The CEO is focused on growth and innovation. You're going to prioritize growth and looking for new opportunities or markets or innovative ways to serve your clients, to make sure the business stays competitive, instead of just staying status quo in the day-to-day operations.

Speaker 1:

So many of the clients that I work with come to me when they've been stuck in the status quo for a long time, when they've been charging the same thing for over a decade, when they have the same pricing structure that studios had in the 1930s, the first studio that opened, when they are stuck in the same hierarchy and managerial role that they think they have to have in their business. But they know it's time for change. So you're going to be asking yourself, as a studio CEO what new services can we offer? What is different? What can I change or adapt or pivot based on where we are right now in 2024, and not get stuck in the status quo. Not get stuck in where we've been or how it's been done, but do something new based on what we want to create in the future. Ceo is all future focused. The business owner can get stuck being in the past and fulfilling on what has worked in the past.

Speaker 1:

The studio CEO will also focus on building systems and processes, and this may be something that sounds boring to you, but you're going to bring that studium enthusiasm and zeal and passion, and you're going to think about creating and optimizing systems that allow the business to run smoothly without your constant oversight, meaning you can take a vacation and the business friends, or you can step back, open a second business and someone else operates in your business. You're going to think things of how can we automate our scheduling process, what systems can we use to implement? We have so many options now with AI and technology. How can we use those systems to be more efficient and more consistent? The studio CEO is going to be focused on scaling the business, and that boils down to building a strong team, improving operations and expanding the market presence. It boils down to three things a strong team, improving operations and expanding the market presence. And if you haven't been thinking that way, if you haven't been focused on those three things, that's just an insight to where you've been operating as the business owner and not the CEO.

Speaker 1:

The business owner might focus on survival of the business and the CEO thinks about financial sustainability, investments, profitability. The CEO is thinking about their profit margins and how can they increase them and where they can invest to see future growth in their business, and the CEO creates the culture and the brand and ensures that it matches where you're going as a business. If you don't create your culture in your business, it will be created for you, and you don't want to be there. You want to create a culture and a brand that resonates with who you want to attract in your team and as your clients. In summary, the business owner is going to think about that day-to-day details, managing everything themselves, with a focus on short-term survival and personal involvement in the business. And that is where you have to start.

Speaker 1:

The Yoga Boss podcast took you from yoga teacher thinking like a yoga teacher how do I teach more? How do I give away more yoga? How do I focus on teaching all the time? And it took you to the business owner mindset of how do we actually make money from this? What offer can I create? And now it's time for the next level how do we become the studio CEO? To think strategically about the future, focus on growth, leadership, delegation and building systems for the business to scale. It's time to transition now from a business owner mindset to the studio CEO mindset, to scale and ensure your long-term success. So I want you to think about this now.

Speaker 1:

Are you ready to lead the pack? Are you ready to lead the industry into big shifts that have to happen so that we can sustain as an industry? Are you ready to lead your team so that they can support the goals of the company? And are you ready to lead yourself so that you can show up day in and day out with the enthusiasm and the passion that you have for your vision, your purpose, your mission in life? Learning how to focus on others and remain high energy is a skill set you have to always put in the work to learn that skill set before you can experience the payoff. You have to put in the work, put in the energy, put in the time to learn leadership skills, to learn how to hire, to learn how to increase your visibility in the market. You have to learn how to prioritize the long-term success of your business so that you can improve your operations, and then you get to experience the payoff. And the payoff is a business that operates seamlessly without you. That includes a team that you deeply trust and a team that is deeply invested in your mission and your vision. It includes being able to check out of your business and knowing that your systems and your structures have you covered and that you don't have to worry about being away from the business. So I'm so excited to take you on this journey.

Speaker 1:

In the Studio CEO podcast, we will release episodes weekly. If you have an idea for an episode, I would love if you were to email it into us. You can email support at JackieGMurphycom and just say Studio CEO episode idea, or here's my question or I'd love if you talk about this and we will make sure to prioritize what you want to hear on this podcast. So now what I need from you is a review of this podcast. Wherever you're listening to the studio CEO, take a moment and leave a rating and review.

Speaker 1:

The more ratings and reviews we have, the more people can find this podcast. The more people that find this podcast, the more strong and sustainable and successful yoga and Pilates businesses are existing in the world. And what that does for our world is it creates a world where more students are being served. And not only that, but we break free of the notion that you can't be passionate about what you do and make money, and we take that notion to the next level. Can't be passionate about what you do and make money, and we take that notion to the next level you can be passionate, you can make money and you can create the time and financial freedom that you want to have in your life, while still having a purpose and serving your mission in the world. When you leave a rating and review, please take a screenshot of that rating and review and send it to support at JackieGMurphycom and we will select one winner to receive our daily practice planner, which is how I help you really step into the enthusiastic leader in your business. Create a list of action items that will move your business forward every single day and retrain your brain to feel passionate, enthusiastic, no matter what is on your schedule that day. You have a chance to win this planner when you submit a rating and review and email a screenshot in, and we will give away the planner in September of 2024.

Speaker 1:

If you're listening to this podcast way later, we love you, but the time has passed and, my friends, I want to let you know that this podcast is just the beginning. If you are ready to take your business really seriously and have a lot of fun while you make a lot of money with big impact, I want you to join us for the Pack your Classes Challenge. The next challenge is happening September 9th. We will include the link in the show notes so you can sign up for the challenge, and that challenge includes five days of strategic training so that you can learn how to be the leader, the CEO of your business, to reach more people. Pack your classes and have the business that you want to have. Go ahead and sign up for the Pack your Classes Challenge now and I will talk to you in the next episode. Bye, y'all.