You're passionate about Pilates. You've dedicated countless hours to refining your technique. But are you truly thriving as a business owner? Many Pilates teachers find themselves caught in a cycle of financial uncertainty, struggling to balance their love for teaching with the demands of running a successful business.
It's time to shift your perspective. Because passion and success go hand in hand. By doing what you love and understanding the business side of Pilates, you can create a thriving career that allows you to make a significant impact on your clients' lives while achieving financial stability.
My Experience: Lessons Learned
Before we get started, know that I've walked in your shoes. Building a successful Pilates business isn't just about teaching; it's about running a sustainable business. While most training programs focus on technique, the business side is often overlooked. Like most teachers, I've learned through trial and error, with each mistake costing me time, money, and stress. Today I want to share my insights, to be of help, and preserve you from the pitfalls.
The Business Basics: Building a Strong Foundation
Running a successful Pilates studio or private practice requires a solid understanding of business fundamentals. This includes everything from financial management and marketing to client relations and operational efficiency. While it may seem overwhelming, remember that every successful business started with one small step.
Mindset Matters: Valuing Your Expertise
One of the biggest challenges Pilates teachers face is undervaluing their services. It's time to shift your mindset. You've invested countless hours in training, education, and practice. Your expertise is invaluable. When you charge what you're worth, you're not just earning a living; you're investing in your own growth and development to serve at a greater scale and with more ease.
The Pricing Myth: Why Competing on Price is a Mistake
A common mistake many Pilates teachers make is believing that to be competitive, they need to offer lower prices and adjust their rates to match the market's low end. This strategy is flawed and ultimately harmful to your business.
Discounting your prices disvalues your service and who you are as a teacher. It fosters a mindset of scarcity, which stifles growth and drains your energy. Instead of generating positive energy for you and your clients, low prices can lead to burnout and frustration.
Price vs. Value: Delivering Exceptional Experiences
Focus on providing exceptional value rather than competing on price. Your clients are investing in more than just physical exercise; they're investing in their overall well-being. Highlight the transformative impact of your Pilates sessions and position yourself as an expert who CARES. Business must come from a place of care and giving. If you find a way to do more FOR OTHERS, the more YOU will benefit as well. It’s the natural and virtuous cycle to life that makes things work; even in business!
To me, Business is a spiritual game about how you add more value to people’s life and how you can do more for people than anybody else in the marketplace. The more skills you acquire, the more valuable you and your business become. Diversify your offerings and invest in yourself to enhance your value. Ultimately, the key to wealth lies in contributing more to others' lives.
The Power of Perceived Worth
People are willing to pay what they believe you’re worth. For clients to believe in your value, you need to consistently deliver exceptional service and demonstrate your expertise. Investing in yourself is crucial for success. The more you invest in your own growth, the more valuable you become and the more you can offer to your clients.
Consider this uncomfortable question: How can you expect clients to invest significantly in you if you haven’t invested in yourself? Why should clients spend thousands on your services if you’re hesitant to invest even a fraction of that amount in your own development?
Your competitiveness relies on three key factors: your excellence, your care, and your authority. These qualities are developed through a clear strategy and ongoing investment in education.
Choose to grow in these areas:
- Creativity
- Technical skills
- Personal development
- Psychology
- Healing practices
- Business knowledge
- Marketing and sales strategies
- Joy in serving others
Once you recognize your true value in the marketplace, shift from a mindset of fear, worry, and doubt to one of creativity, innovation, and care. Move away from scarcity and focus on creating healthy profit margins by optimizing your prices and selling value rather than just a low price. Avoid the mistake of lowering your prices to compete, as this doesn’t make you more attractive. To truly stand out, clearly demonstrate the substantial value you provide through your expertise, care, and authority.
Grow Your Business: A Three-Step Plan
Building a successful Pilates business is a journey. I like to break it down into three stages:
- Financial Security: This is about establishing a solid foundation for your business. It involves creating a consistent income stream that covers your expenses and allows you to reinvest in your practice.
- Financial Independence: Once you've achieved financial security, the next goal is independence. This means having multiple income streams and the freedom to choose your clients and projects.
- Financial Freedom: This is the ultimate goal for many entrepreneurs. Financial freedom allows you to live life on your terms, pursue your passions, and give back to your community.
Community and Collaboration: Grow Together
Being part of a strong community is crucial for long-term success and fulfillment. My journey was driven by curiosity and a refusal to settle for average standards. My hunger for progress and understanding the "why" shaped me into the IVA I share with the world today.
From the start, I sought mentors who walked the talk. Different mentors offered different skills and outcomes. Some were liberating, while others made me doubt my worth. Regardless of the experience, it all contributed to my learning. The people you choose to learn with (not only from), and surround yourself with shape your future.
I have learned that success leaves clues and that learning is amplified when you are among like-minded individuals. The most valuable lessons come from daily exchanges with clients and colleagues. A strong community accelerates progress and fosters life-changing transformations.
The 10 Key Takeaways for Pilates Teachers:
1. Technical Excellence and People Skills: Both are crucial for building a loyal client base.
2. Understanding Business: Business acumen is essential for financial success and must be learned and applied strategically.
3. Financial Security: The first step toward growth, ensuring a stable foundation.
4. Financial Independence: Achieving stability and the ability to reinvest in oneself.
5. Financial Freedom: The ultimate goal, where income supports all expenses and generates additional wealth.
6. Avoid the Low-Price Trap: Competing on price devalues your services and fosters a scarcity mindset.
7. Invest in Yourself: Consistently invest in your development smartly to provide more value to your clients and to your business.
8. Business is a spiritual game: Understand that the secret of wealth lies in contributing more to others' lives.
9. Build Value: Focus on excellence, care, and authority to build a strong market position.
10. Project Success: People pay for perceived worth. Showcase your worth and the value you bring to clients' lives.
By embracing these principles, Pilates teachers can move away from the scarcity mindset and towards a path of financial security, independence, and ultimately, financial freedom. The journey involves smart pricing strategies, continuous self-improvement, and a clear focus on the immense value you provide to your clients.
Join our Pilates Business Month
As we wrap up this discussion on the importance of mastering the business side of the Pilates industry, we invite you to take a bold step towards transforming your financial future. This month, our Inner Circle is dedicated to ENHANCE BUSINESS. We will teach our members how to thrive in the Pilates industry with clear strategies for optimizing their business and creating wealth.
Be All In. Transform Your Financial Future with Us
What You Will Learn:
· Strategic Business Insights: Learn the proven strategies to grow your Pilates business from scarcity to financial freedom.
· Clear Action Plans: Follow a step-by-step plan that any teacher can implement to achieve financial success.
· Mindset Transformation: Shift your mindset from scarcity to abundance, creating a solid foundation for long-term growth.
· Community Support: Join a like-minded community of professionals who will hold you accountable, inspire you, and motivate you every step of the way. You don’t have to grow alone anymore!
Start Smart, Be Part Of A Future Together Adding Value
If you are serious about improving your Pilates business and ready to advance with like-minded professionals committed to changing their financial situation, there are two actions we need you to take:
1. Book these three dates in your calendar for August’s Business Events:
- Mastermind: 8 am – 12 pm CET
Optimize Your Business – Diversify and grow your business - Coaching Session: 9 am – 12 pm CET
Implement the Key to Wealth – Strategies for increasing earnings - Webinar: 7 pm – 8:30 pm CET
The Pilates Trap – Everything you need to know to lead a thriving practice
Note: If you can’t attend any of the events live, don’t worry. As a member, you’ll have access to all replays, handouts, and resources.
2. Click here to schedule your call with Iva or the team to get help and join our business month for transforming your business.
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