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Survival

Real threats

Marketing

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DanceStudio-Pro.com

Threats to Today’s Dance Studio Owners

Vital Areas of Concern

CASH

1 Burn Out

3Visibilit

y

2

Expansion

4

ProfessionalDevelopment

6

Marketing

5

DanceStudio-Pro.com

#1 - Cash

Spending too much on

Rent, Teacher Salaries, and

general overhead

Not Saving for the slow

times. (Summer

Break)

Not collecting cash fast enough. Allowing tuition to

age.

Lack of discipline

and relentless

focus on the details of expenses

and income

DanceStudio-Pro.com

#2 – Visibility

Lack of ability to see a decline in

active enrollment

Limited to no warning

signals for increased expenses

and teacher payroll

No way to predict and

manage through rapid

growth

Lack of insight into

the real feelings of

your customer

base

DanceStudio-Pro.com

#3 – Burn Out

Lack of financial reward breeds

resentment for the

business

No Standard Operating Procedures

makes every issue a new experience

More time is spent fire-

fighting than growing and developing

the business

Lack of formal

boundaries leads to a

highly skewed work-life balance

DanceStudio-Pro.com

#4 - Expansion

Failure to expand with new products and services

Failure to consider

expanding beyond a

single location

Fear of adding

additional teachers to

support growth

Lack of tools to support

growth beyond a

single location

DanceStudio-Pro.com

#5 - Marketing

Spending real money

in the wrong places. (e.g.

High Cost local

magazines)

A general failure to

take advantage of

all social media

platforms

Failure to invest in any

type of marketing. 100% Word

of Mouth

Lack of planning for the formal marketing

and advertising

strategy

DanceStudio-Pro.com

#6 – Professional Development

Having a general fear

or being reluctant to seek out the help of tax

professionals

Lack for understanding the need of a relationship with a good

attorney

Limited understanding in the art

of managing and leading a

team

Failure to stay up to

date on the trade

DanceStudio-Pro.com

How to mitigate these threats

Establish a relationship with a good

CPA

Setup metrics for

your business to establish

alarms that we reviewed

weekly

Ensure that you are highly

profitable to justify the time and

heart-ache that goes

into running a studio

No matter how small or new you are,

plan for growth.

DanceStudio-Pro.com

Dedicate one day out each

month to document

your marketing

strategy and goals.

Join an business coaching

network to assist with weak areas

in your business

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