Planning for profit in your yoga business for 2022 is the key to growing and scaling your online yoga business.
If you haven’t done so already, there’s no better time than now to start thinking about what you can do to start 2022 and beyond on the right financial footing.
This is about having a roadmap and business plan in place to support you to grow and evolve your business. Have you thought about what’s your single greatest business goal for 2022?
If you don’t know, it’s time to start mapping this out.
If you do know, it’s time to start planning.
We’re living in a world of uncertainty, but there’s definitely opportunities all around you to dream big, be bold and ambitious. Whilst remaining realistic and grounded at the same time.
Most likely you overestimate what you can do in a year and underestimate what you can do in a decade. The key is to be bold but appreciate your business. Understand that business growth is a journey and takes time.
If we learned anything over the past two years, it’s that the world can be unpredictable. So, it’s important to create revenue scenarios. Creating best and worst-case scenarios to prepare you for anything that may present itself in your business. This will ensure you’ll know how to respond to these changes and situations, without the element of surprise.
The truth is, to be successful in your business you need to plan for profit. Creating a strategic business plan will help you grow and sustain your business, for the long haul.
The ability to plan and dream big weighs on the state of your mindset
It starts with you. If you’re looking for next year to be your BEST year, you can’t be the same person you were this year. You have to be better, change or up-level in some way to make it happen. If you remain the same, then you will get the same results and create the same thing.
It’s important to reflect and understand the challenges you’ve faced in your online yoga business and life. This year alone has brought about unique challenges. The key to overcoming these challenges and moving forward to create business success, comes down to your mindset.
Don’t allow these challenges to become an excuse to hold you back and stop you from creating a profitable online business. This is about you and how you show up in your business, whatever life throws you.
Take time to reflect
Just as important as being prepared, is to also stop and take a moment to reflect and have gratitude for how far you have come this year. You have invested in your business education, grown in so many ways and faced new challenges. You have shown up day after day for yourself and your business.
Acknowledging what you have achieved this year helps you to forge forward into the new year with more focus, clarity and awareness. Which will help you to become a better version of yourself and level up your business.
You have to be more focused than ever before. It’s time to get clear on your niche and who you’re serving within your business. Get focused and clear on what it is you’re actually offering.
This requires discipline and taking action in your business to work towards your dreams. Even when you don’t feel like it, have zero motivation or believe it’s too hard.
You have to have the mindset for success. Honouring the process, ups and downs and trusting that you will get to where you want to go.
You have to learn the necessary skills and ask for the help, so that you can move forward, taking the right action.
When you work on up-levelling yourself, you up-level your life. So much is possible.
If you want to write a book – you can do it.
If you want to start a successful yoga podcast – you can do it.
If you want to make 6-figures or more – you can do it.
What you want is yours for the taking…
But it starts with you.
3 Parts to Creating a Profitable Online Business
Everything comes from within. From your thoughts to what’s going on internally. Your thoughts become your decisions. Your decisions are based on what you’re thinking. Your decisions then determine the actions you take, and that action determines your future. That’s how you create your reality and manifest the things you want and don’t want.
Who do you need to be in order to create massive business success?
Get clear on who you need to be to create the success you want. It’s who you’re being that gets you the success you want. It’s who you need to be.
Most importantly it’s not about waiting for things to happen. It’s about YOU! What do you want your life to look like and who do you need to be to create the business success that you dream of?
When you change your thinking, decision making and actions…
You radically transform yourself and your life.
To make next year your best year, you need to change your thinking, decision making and actions. Who do you have to become in order to make this your reality?
Powerful Growth Mindset Exercise
To get you started in creating a growth mindset for success, try this exercise:
- Get yourself a journal.
- Start thinking about this year.
- Where did you felt stuck and what challenges did you experience?
- On a personal level, where did you get in your own way?
- What are your doubts, fears or worries?
- How did you feel? Really tune into how you were feeling and what was going on for you.
- How much of that version of you is the version of you today?
- How much of that baggage are you carrying with you in terms of the way you think and feel now?
- Write your answers in your journal.
Here is an example to help you get started. If you write in your journal “one of my biggest challenges is that I constantly feel confused and overwhelmed”. Then ask yourself why you constantly feel confused and overwhelmed. Take time to dig deeper to understand why you are feeling this way. Write this down.
Perhaps you wrote you feel confused and overwhelmed because you have so much going on. Then ask yourself is it truly about this or is there something else that is going on? Every time you write something down, ask yourself why. You will then be able to get clearer on what is really going on, helping you to create awareness. This awareness will help you to look at your thinking and decision-making process. Giving you clarity on how to take action around these areas
This is a powerful and insightful exercise to help you understand who you have been this year and what changes you need to make to create ongoing business growth and success.
Ultimately your success sits with you. It requires a positive and focussed mindset, to understand what changes you need to make from within to bring you long term business success.
Tune into yourself to create awareness of who you’re being now and who you want to be.
2 Planning for Profit
Not many people take the time to plan what they want to make happen in the year ahead. Which is why many people are not living the lives they want to live.
Success is not an accident, it’s something you create on purpose. A big part of that is getting clarity around where you want to go.
The first step is to show up. You’ve already taken that first step, as you are here, you’ve showed up. Which will head you in the right direction of making this coming year more successful.
The key to bringing your dreams into reality is know what you want and taking the right action to make it happen
One of the biggest lessons I’ve learned over the years is that people who make massive progress each year and manage to build incredibly successful businesses, all have one thing in common. They know exactly what they’re trying to achieve.
If you want to have your best year ever, you have to decide what you want, write it down and then focus on making it happen. This is the power of business planning and strategy.
Many entrepreneurs waste time in their business because they are constantly trying to figure out what to do next in their business. Instead of taking the time to set themselves up with a business plan.
When you don’t take the time to both plan and track your progress, you end up working harder instead of smarter. Ultimately leading you to burnout.
If you make time upfront to plan and track your progress, you will save time and effort in the long run. You can be great at dreaming about your goals and starting new projects. But unless you take action and follow through, they only remain dreams.
A critical step in planning for profit is to review your year. Take time to reflect, review and celebrate everything that you have achieved and experienced in your business this year.
This helps you create awareness of the good and bad, guiding you to growth and understanding.
Start your review by celebrating the amazing things you’ve achieved this year, big or small.
Think about what you did to achieve those things. What was it that made them successful? These are the things you can keep doing next year, because they worked.
Once you’ve focused on all those great things, turn your focus to the areas to work on.
What did you want to achieve, but didn’t?
Why didn’t you achieve them?
Be mindful not to feel negative towards the things that didn’t work. Everything happens in the right way, at the right time. All that you experience is a steppingstone, moving you towards where you want to be. Creating this mindset helps you to create a long-term vision for your business.
Next up, it’s time to create your vision. Imagine that it’s one year from now and you’ve achieved some incredible goals, completely excelled and turned your dreams and goals into reality.
Take a few moments to picture this, visualize it and really connect with how it makes you feel. At this point, it might be very generalised as you may not know specifics. Just reach for positive feelings to what you are visualizing. Such as feeling happy, successful, happy or fulfilled.
Enjoy designing your best year in your mind. Remember, you’re a powerful manifestor. So, it’s important to be intentional about what you want to manifest next year.
Knowing what you want is crucial to creating success, so get clear on:
What you want.
What you want to achieve?
How you want to feel?
How you want your life to improve?
What are the most important things you want to make happen in your business and life this year?
In order to create goals, it’s important to understand the difference between process goals versus outcome goals. You need to understand this before setting your goals in stone. Many miss this difference and end up rewriting the same goals over and over again. Not ever being able to check those goals off their list.
Process goals are the milestones that you can completely control. A process goal is an outcome that is based on specific actions and tasks that you complete. Setting a process goal means you have to identify what you actually have to do achieve a specific outcome.
Outcome goals are usually goals that can be measured by numbers and revenue. Such as revenue made or the number of new email list subscribers you will achieve that year. They are goals that you can easily measure your progress, but you can’t really control 100%.
Process goals, on the other hand, are all about the process. A process is entirely under your control. When you focus on the things you can control, you set yourself up for long-term success. The challenge is to stick with the process.
Instead of waiting to celebrate until you achieve your results, celebrate every time you follow the process. When a process goal is achieved. This will help you recognise your wins more quickly and easily. Motivating you to continue to focus on your business growth and success long term. Understand that even if your results take years to achieve, each step you take towards them is just as important.
You need outcome goals to grow and expand your business, a vision. You need process goals to guide you in reaching your outcome goals.
The key is to make sure your 90-day goals are process goals so that you can have more control over them and achieve them along the way.
Choose goals that focus on revenue, email growth and creating consistent content. Aim to have five big goals for the year. Next look at these goals from a 90-day perspective, breaking your goals into 90-day chunks. 90-days is long enough to complete a project or make huge progress towards completing your goal. Yet it’s not long enough to get distracted or bored, helping you to stay focused and motivated.
Brainstorm the action steps needed to make each goal a reality. Plan out these action steps within your 90-day period, including due dates and project steps.
Make your dreams a reality by taking each goal and brainstorm the action steps you need. Include process goals around building your community, creating partnerships, collaborations and offerings. These will directly impact your financial outcome goals.
Remember you don’t have to do this alone. We have incredible resources here at Digital Yoga Academy to support you in your yoga business. Teaching you how to create a powerful offer and grow your business. Whether it’s with our free resources such as our s YouTube Channel channel or Podcast, or our paid programs such as Super Yogi or Profitable Yoga Teacher.
Bring your goals and vision into reality by learning from those that have succeeded before you. Look for offerings that help you grow your business online such as creating an online course or creating a group coaching program. Create offerings that allow you to increase your profit margin and lift the ceiling on what’s possible.
Believe what’s possible and be bold.
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Founder of Digital Yoga Academy, educator and coach for Yogipreneuers who want to step out of their limitations and into confidence, profit, and success!
I’ve taught thousands of yoga teachers to rise up and thrive in the online space and to build profitable and sustainable yoga businesses.
I’m guessing you’re here because of your entrepreneurial spirit and desire for more freedom, time, abundance and joy!