If you have a yoga business, you’re sitting on a total goldmine, and you probably don’t even realize it! Or maybe deep down, you do know, but you just haven’t quite mustered up the courage to fully unlock your potential and give your business the ultimate makeover it deserves.
Are you willing and ready to adapt?
Maybe you’ve been focusing on the challenges of building a business, and of course, starting an online business comes with its fair share of challenges. And then we have external factors – coming out of a pandemic which wasn’t too long ago, the current economic situation – all of that makes it even more daunting. We live in an ever-changing landscape, and things can shift rapidly. So, in order to survive and keep your business running, you have to be willing and ready to adapt. We saw that in COVID – teachers had to quickly adapt and get themselves online.
Your ability to adapt quickly is crucial. You need to have an open mind that embraces change and be willing to make necessary adjustments.
We never know what might change in the external environment around us – the economy, changing consumer tastes and behaviors – there are so many external forces at play. So, as well as being ready and willing to adapt when needed, we can also prepare for it because to thrive, we need to be proactive and look internally at our own business and examine our business model. Is it reliant on other businesses, such as a yoga studio? Does your business revolve only around teaching in studios? If it does, you’re reliant on another business – the yoga studio – and if that business closes down as it did in COVID, you put yourself in danger.
So, it’s important to become strategic about your product strategy. What are you offering that is scalable and doesn’t require you to exchange your time for money? When you have this strategy in place, you are set up for survival. It’s more sustainable.
So, what does this look like?
It’s online courses, programs, and memberships that allow you to reach more and scale more. And maybe you’ve already considered this. Certainly, if you’ve been in this community for any length of time, you’ve heard about it from me. But maybe imposter syndrome is playing mind games with you, bombarding you with a million and one reasons why you shouldn’t dive headfirst into creating an online course.
“I’m not good enough,” “I don’t have the time,” “My audience size isn’t up to par”
– those are nothing but lies we tell ourselves to stay comfortable, to stay stuck right where we are. So, if you’re a go-getter, someone who knows deep down that you’re destined for greatness, it’s time to fully understand why you need to do this in order to build a yoga business that survives any future uncertainties.
Here are 7 reasons why creating an online course or program should be your number one product strategy:
1. Achieving that Elusive Work-Life Balance We All Crave
You know the term – “work-life balance” – it’s been buzzing around every industry. Back in 2015 when I graduated as a yoga teacher, I thought breaking free from the 9-5 grind and diving headfirst into my yoga business would be the answer to all my work-life balance dreams. Of course, I was wrong.
I absolutely loved what I was doing and the community I was building, but I was teaching lots of classes and running events on the weekends. It was successful, definitely, and I was making money, but I was capped at how much I could make.
The way that yoga can shift from this in-person hustle and grind is to create an online course or membership. You can find the freedom to enjoy life, make money while you sleep, and serve your audience on a bigger scale. It really can be a game-changer!
2. Freedom and Flexibility
Creating and launching an online course not only granted me work-life balance, but it handed me the golden ticket to ultimate freedom and flexibility. And we’re not just talking about financial freedom here (although that’s definitely a sweet perk).
Because online courses exist in the digital realm, I now have the power to work from anywhere my heart desires. Sometimes, you just want to disconnect completely and forget about work for a while. Last year, after 5 years of doing this, I took 6 weeks off. These dreams aren’t just wishful thinking; they can become tangible plans. You have the power to create your own schedule, take time off when you need it, and truly embrace the freedom to live life on your own terms.
3. Passive Income
I’m not going to sugarcoat it for you. When you first launch your online course, it won’t magically start pouring in passive income. That’s not gonna happen. But when you’ve done a few live launches of your course and gathered all the valuable information and feedback, you’ll be armed with the knowledge to take it to the next level.
This means your online course is open for enrollment year-round, even when you’re not actively promoting it. Before you can turn your course evergreen, there are a few crucial steps you need to take. You must ensure that your live launches are a smashing success, with your emails and sales pages converting like crazy. When you do it right, an online course can become your ultimate ticket to passive income that keeps on giving. Imagine a steady stream of income flowing into your bank account while you do whatever floats your boat. It’s the kind of financial security that can sustain you for the long run.
4. Uncapped Earning Potential
Let’s talk about money! As yoga teachers teaching in studios or with private clients, you already know the struggle of your income being limited by the number of hours you can put in. It’s like a never-ending cycle of needing to work more hours to make more money.
Sure, you can bump up your rates, but eventually, you hit a wall. There are only so many hours in a day, and you can’t magically create more time. That’s where the issue lies – you want to increase your income, but you’re limited by the hours in a day.
An online course is a highly scalable product that doesn’t require your direct 1:1 time or attention. That means you can serve an unlimited number of people all at once. It’s not just limited to your time zone. You can reach students across different time zones, expanding your reach like never before. Think about it. While you sleep, your online course is still hard at work, bringing in revenue and serving students. It’s like having a money-making machine that works around the clock, all while freeing up your time to focus on other aspects of your business or even enjoy some well-deserved downtime.
5. Credibility and Expert Status
You don’t have to be the ultimate guru to create and launch an online course. But let me tell you, positioning yourself as an expert in your course’s topic will take your status to a whole new level.
Picture this: When you unleash your online course upon the world, it’s not just about sharing knowledge; it’s about establishing yourself as a trusted authority in your field. By demonstrating your expertise through your course, you gain credibility and recognition. When your course empowers your students to achieve the transformations they desire, it becomes solid proof that you truly know your stuff.
6. Growth as an Entrepreneur
Get ready for some serious personal growth, my friend! Creating and launching an online course isn’t just about professional development; it’s a journey that will profoundly impact you on a personal level.
First off, let’s talk about stepping out of your comfort zone. Creating an online course pushes you to challenge yourself, to try something new and exciting. It’s a chance to break free from the familiar and embrace the unknown. And trust me, the rewards that await you on the other side are oh-so-sweet.
But that’s not all! When you embark on the adventure of developing and launching your online course, you’ll gain a wealth of knowledge in various areas of business. It’s like a crash course in entrepreneurship. You’ll become well-versed in marketing, content creation, community building, and so much more. The lessons you learn will extend far beyond the realm of your course topic, equipping you with valuable skills that can be applied to other aspects of your business and life.
And last but certainly not least, let’s talk about setting your business up for the long haul. An online course is like a secret weapon that can propel your business towards long-term success. Creating an online course puts you in the CEO seat of your business. You’ll have more time and freedom to focus on the big-picture vision and strategy, rather than getting tangled up in day-to-day tasks. It’s about working smarter, not harder. An online course empowers you to be proactive rather than reactive, giving you the ability to steer your business towards long-term success.
Implementing an online course or program as your #1 product strategy is crucial for the survival and growth of your yoga business.
It offers you:
- work-life balance
- passive income
- uncapped earning potential
- personal growth
Don’t let imposter syndrome or other limiting beliefs hold you back. Embrace the opportunity to create an online course and unlock the full potential of your yoga business. The rewards are waiting for you on the other side.