Getting over the hurdles of starting a new DanceFit Studio using Lean Startup
In IT we have a new business approach called “Lean Startup”. Basically the idea is to develop a business or product in the most efficient way possible to reduce the risk of failure (If you want to find out more about Lean Startup there’s a bunch of info available from here – The Lean Startup Circle Wiki).
Today we’re going to break down some of the ideas of Lean Startup and how they help you setting a DanceFit Studio.
Naming Your Studio and Business
According to Lean Startup, your name is vitally important. So you want to pick one that’s going to be something you really like. Advice from the IT world says, find a name that says something about you and what you want your studio to be renowned for.
Pricing your Classes
As someone who is first starting out it can be difficult to know how much to charge for your classes. Lean Startup suggests you use “A/B testing” to work out the best pricing that will cover all your costs and people will happily pay regularly. For us normal people, “A/B testing” is simply having the same thing (for example a dance class) and offering it for one of two prices to different people.
Let’s imagine that you have decided to do a letter drop in the local area. In one street of your delivery run your flyer has the price of $45 per class and in another street you deliver a flyer that has the price of $52. Then you wait until people come in with your flyers to take up the offer, they pay the price on the flyer. At the end of the week you count how many of each flyer you got and the highest number you got back is the most popular price.
With a calculator, your book-keeper or smart BFF you can work out if charging this amount for classes will make you enough money to cover all your costs for your studio.
Advertising and Marketing Your DanceFit Classes
There’s so much advice about advertising and marketing online, that I almost yawned when I saw this. However, if Lean Startup says this is important, then we ought to say something useful on this.
First let’s explain the basics in really, really, really simple terms.
Marketing is whatever you do to help people know that you and your studio exists – that can be PR, Advertising, Customer Support, Community Relations, Networking and lots of other things. Now you know that Advertising is something you can do to Market your studio and classes.
For any business that’s starting out in the beginning, the area of Marketing is where a lot of time and money can be wasted. There’s really no surefire way of knowing before you pay over your money that you’ll get the exact results you get promised, however Marketing is incredibly important if you want your studio to survive.
The Lean Startup world suggests you have a budget for marketing so that you can do these things –
- Pay someone else to do social media for you
- Run Google Adwords
- Go to Expos and Exhibitions
- Hire someone to do PR to get you in the right media
Software and Systems to Run Your Business
There’s is only so far that you can go with your calendar or a diary for keeping track of students, payments, class sizes and hopefully other dance teachers.
The sooner you get your business running with software the better, according to Lean Startup. When you’re using software, there are many business processes that are already built into the system that you may not have thought you needed to worry about. That can save you lots of sleepless nights worrying about things that could be avoided.
Most new studio owners put off getting software to help them with their business because of the cost, thinking that they just can’t afford to spend on it.
So the lucky surprise for you is that rocqup is a software app you can use for running your studio and it is 100% absolutely free.
Why you ask is it free? It’s free because rocqup loves new startup businesses and wants to be part of the new world of smarter businesses that do things the new way – like Lean Startup.