9 Responses to “Priorities”

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  1. So true Mike! As always, you provide sage advice!

  2. As always, Mike, right on the money.
    I’ve expanded some of this in my own personal philosophy about business, whether you’re teaching front kicks or selling concrete manholes or giving sax lessons: everyone of them is about collecting the money. If you don’t do that, you’re not in business. Or at least, not for long. IF you CAN collect money, then it doesn’t really matter what it is you do. Doing “it” well, (whatever your business is) MAY help you collect some money in the future thru referrals – but MOST of the money will come from getting out there and asking for it!

  3. Glad you guys enjoyed the article/rant.

    It seems like I write an article like this about every 3-4 months or so…

    Which coincides with the time I’ve finally had it up to my eyeballs with people asking for advice on how to get their schools out of a rut – and then refusing to act on my recommendations!

    EVERY new business MUST advertise. And, if you’re established but struggling – shouldn’t that be an indication that you can’t continue doing what you’ve always done and expect different results?

    I guess in some ways it’s the business equivalent of natural selection. The good news is that, in a few years when the economy perks up again, there’ll be a lot less competition.

  4. Hi Mike,

    Good article again.

    I hear your frustration… I had an instructor call me a while back asking me “How do you do it? Tell me how you built your school.”

    I went on to explain a little about the steps I took to take my school from nothing 6 years ago to around 130-140 students, and he barely listened…

    Instead he wanted to tell me about opening a new school because he could get a good deal on rent.

    I cautioned him to do the math before he went ahead.

    How many students do you have versus how much do you have to pay in rent (and other expenses)??

    But he ignored the advice I gave him and told me of his marketing plan which was to get 30 students in the first 30 days simply by walking around town giving out flyers and talking to people.

    Typically you might convert 1-2% of cold leads to come to your place if you’ve got some selling skills. Then you’ve got to convert them to customers… which might be 50%-80% depending on your “walk in the door” system.

    Do the math … Target 30 students. Assume a 50% conversion – that’s 60 through the door at a 2% response… which means he’d have to give out 3000 flyers!!

    That’s a lot of cold calling! Can you imagine how long it would take for him to personally talk to 3000 people one at a time?

    If you’re thinking about cold calling, or some other crazy random idea, forget it.

    The best way to success is to do what someone else has done.

    Do what Mike says… follow his advice and you’ll be good to go.

    - Jason

  5. Thanks Mike. You have a unique way of getting to the essence of what all of us are supposed to be doing. Keep it up!!

  6. Jason

    Hey Mike,

    This is one of the truest statements ever said. Actually, this advice should be given to not only martial arts school owners, but to ALL business owners. If you can’t get students/clients/customers/patients, there is one guarantee and it isn’t success. Great words of wisdom. Keep them coming…

    Jason Froehlich

  7. Jason, just the fact that you broke down the numbers in this situation demonstrates why you were able to build your school up to a stable level of enrollment.

    That story is also a good indication of why I decided to stop giving “free” advice. The people who want a piece of your time and expertise for free are most often the ones who will ignore it after it’s given.

  8. Will do, Ron.

    Thanks!

  9. Appreciate the feedback, Jason.

    Thanks for the kind words.

    And, you’re right – this advice is pretty much universally applicable to all business owners.

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