The yoga industry is growing at a rapid pace. Unfortunately, there are many common pitfalls made by yoga professionals that prevent their success. This post reveals the 5 biggest mistakes to avoid–and better yet, shows you how to shift your mindset, words, and actions to gain traction in your market.
Did you know that yoga is a $16 billion market in the United States right now, and it’s expected to grow to over $100 billion by 2025? What’s even more stunning is that this is just a fraction of the $4.2 trillion that was spent on wellness last year alone.
Because you’re here, making a difference as a yogi, you stand at the center of these amazing opportunities. You just have to ask yourself:
- Do I want to be part of this growth while staying true to my values and passions?
- Will I be able to avoid costly mistakes to do so?
- Am I ready to deliberately act in ways that support my goals?
These are the same questions I posed to my graduating kinesiology students at Chico State. And, they are questions I continually ask the studio owners and yoga teachers with whom I work today.
Once you answer with a resounding “YES” to all three questions, you’re ready to learn. This guide is designed to help you make 5 simple changes to increase sales and create a loyal community of yogis. Plus, you’ll save time and energy avoiding these costly mistakes.
Photo Credit: Diane Nicole Photography
MISTAKE #1: FAULTY VIEW OF BUSINESS RELATIONSHIPS
Successful businesses are built on smart thinking and quality relationships. Now, you probably have established trust and respect with people in your personal life. You have family and friends that cherish you and enjoy spending time with you. What many fail to realize is that the same elements that formed those bonds can also be used to amplify your yoga business.
Consider the following concepts:
- Every relationship begins with curiosity. If you are interested in someone, what do you do? You ask questions about them, and you listen (I mean, genuinely listen) to what they have to say!
- You are unique. Yes, you have specific talents and interests, and in your yoga business, you can use these strengths in order to serve others.
- Generosity and appreciation go a long way! As you help others transform into the better version of themselves, their trust with you increases. As you appreciate them (and their role in your life and business), their respect for you grows as well.
Now ask yourself:
- What values are at the foundation of successful relationships you already have?
- How can those same values infuse the interactions you have in your business?
- In what ways are you introducing your unique talents and interests to others?
- How does your unique voice shine in your yoga business?
- What content are you creating to serve others in your community?
- How are you constantly showing your appreciation for others? (clients included)
MISTAKE #2: IMPROPER POSITIONING
Did you know that there are over 30,000 yoga studios in the USA alone? And that there are approximately 15,000 newly certified yoga instructors each year? The second mistake comes when a yoga business tries to differentiate themselves. Or, when they try to stand out–or appear separate–from others in the field.
Instead, positioning yourself for success is different. It encourages you to focus on service. Your yoga business doesn’t have to serve everyone. In fact, that’s not even possible!! You just have to hear the requests of your community and satisfy those needs.
Thus, positioning yourself for success means becoming their guide. You become the expert when you help students and clients sort through the noise and find what they want.
Position yourself strategically by answering these questions:
- How well do I understand the trends of the yoga industry?
- What yoga is currently offered in my area now? And for what price points?
- What are the needs of those in my community?
- How can my unique skills and interests meet those needs?
Photo Credit: Jamie Street
MISTAKE #3: PROCESS INSTEAD OF OUTCOMES
By responding this way, you are talking about the PROCESS of what you do. This is perfectly normal considering that you have been trained to keep people safe on their yoga mat while creating a memorable experience for your students.
Yet, people don’t make purchases based on this fact. They buy things and invest in experiences because they want to transform for the better. They want an OUTCOME. When you speak about your yoga business, people want to know how working with you will positively change them and their lives.
Now ask yourself:
- In what ways do my clients, and potential clients, want to be different?
- What positive changes (mentally, physically, and emotionally) would they want to experience?
- How can I simply state these changes of transformation when speaking to others?
- With whom can I practice my new way of describing me and my yoga business?
Photo Credit: Ember and Earth Photography
MISTAKE #4: FAILURE TO ASK FOR WHAT YOU’RE WORTH
Your perceived value, and ability to receive abundance, is all about mindset. And simple shifts in your mindset can move you from a struggling entrepreneur to a thriving yoga business.
Yet many remain stuck lowering their prices, offering discounts, and giving away freebies. This attracts a budget-conscious customer, who have low levels of loyalty and are always looking for a bargain. The end result is that the perceived value of your business decreases. Plus, you have to work much harder than necessary to keep gaining more clients who share those same beliefs.
To counter this pattern, attract the quality-conscious customer by:
- Asking for what you’re worth.
- Trusting that clients will pay what you’re asking.
- Continuing to create high-quality experiences for you and your clients
- Saying NO to challenging clients, and
- Saying YES to working with clients that you love.
When you take these steps, you can reduce financial stress in your day-to-day experience. Plus, you can reach your income goals much quicker.
To embrace the abundance mindset, consider:
- What does my ideal client look like?
- What price points are ideal for my services?
- How can I continue to overdeliver for my clients?
- In what new ways can I attract quality conscious customers?
- How do I receive abundance in my life now?
Photo Credit: De Visu
MISTAKE #5: LACK OF BUSINESS KNOWLEDGE
Did you know that the previous Yoga Alliance standards required only 3% of a 200-hour yoga teacher training program be dedicated to learning about business? The new standards lower that even further. Many trainers also fail to recognize that starting a career in the yoga industry means that you are an entrepreneur.
Yoga entrepreneurs wear many hats. You’re responsible for creating a plan for your business, and implementing that strategy. You might also run the marketing, accounting, and actual teaching side of your operation.
This seems daunting to many new teachers. Yet this is because no specific structure is put in place to learn about business. That’s why we have our online business course to help you navigate this part of your journey.
Want some steps to increase your business knowledge?
- Read through the business and marketing articles on this blog
- Join our Live Coaching Calls each month
PUTTING IT TOGETHER
With all of the amazing possibilities for success in the yoga industry today, there’s never been a better time to shine. You are a unique messenger and it is possible for you to create the life of your dreams! Get ready to transform your passion for yoga into a profitable career.
The process is simple, but not necessarily easy. Be focused and dedicated–two skills that get enhanced when you have a strategy in place to grow your yoga business.
Take Action Now:
- Download the 5 Mistakes to Avoid PDF
- Schedule 30 minutes this week to answer those questions in depth. This will give you an honest look at your starting point as well as where you want to go in the future
- Share your answers with a colleague or friend. They can give you a fresh perspective on your ideas and support you in your journey.