by Glenn Coxon—Reinvention Headquarters
We’ve all heard of the big end of town from those on the TV, in the news and quite often its politicians talking about the big end of town. Having spent a decade working in the big end of town for Australia’s largest company as a business coach I learned a few tricks which are transferable to the Martial Arts business. Many of those tricks I wish I’d learned for my own Martial Art school years before. So what do the corporates have to share of value for a Martial Arts school ?
I want to share with you 3 big tips from the big end of town. They revolve around key challenges which arise in businesses of all sizes and I want to share with you some of the techniques which I believe are transferable from the corporate world to the Dojo floor and related business.
Let’s talk first about one of the lessons I learned which I would NEVER bring from the big end of town into a Martial Arts school. A small business by government definition is anything between $10-$50 million turnover per year.
That’s okay, because we don’t necessarily need to follow a lot of the corporate world’s management style. I’ve found the corporate environment is actually riddled with people who have limited experience in what we as school owners would refer to as the ‘real world’. All too often many of them share theory which would not work for us on the Dojo floor, and there are way too many meetings about whether there should another meeting about another meeting to a point where it takes far too long to get anything done.
In a small Martial Arts business environment, we make decisions and we more forward with the execution of the decision; no time for endless meetings. On the dojo floor we are looking to simply build a strong business which will help us enjoy
the lifestyle that’s appropriate for someone who put so many years into their art, so much dedication, blood, sweat and years into something they love. Whilst I’m in no way advocating decision making without planning; I’m pointing out that we as “small business owners” are much more flexible in our thinking and regardless of how big your organisation becomes, you should never lose sight of the value of nimble business decisive- ness.
So what does the corporate environment have to offer Martial Arts schools about business planning?
The first tip I’d like to share with you from the corporate environment is that of structure and planning. If you don’t have structure set up into any business you’re destined to fail. As the old saying goes, ‘fail to plan you plan to fail’.
So don’t fail to plan, PLAN TO NAIL IT!
Consider, what structures have you put in place for your business now, what structures are you missing, and what structures could you lose for benefit?
PLANNING
One small step in your planning could be to conduct a SWOT Analysis.
SWOT Stands for Strengths (What are the strengths in you and your business), Weaknesses (What are the weaknesses in you and your business),
Opportunities (What are the opportunities there for you and your business) and Threats (What threats may be there to your business).
I know some of you may be saying, I know all about this and have done it before; but when was the LAST time you did a SWOT? If you have never done a SWOT, then you’re missing one of the most fundamental of all business building tools; one which can save your business whether it’s new or established!
It’s not hard either! It can simply be a cross section of 2 lines on a piece of paper.
When I’m coaching or mentoring clients I often share tools I’ve found so the client can grasp the concept fast and act quickly. One of my favourite resources is the “MindTools” website. Conducting a SWOT every 12 months, perhaps at the beginning of each year is a great way to identify many of the elements within a business which need to change to keep your business relevant, vibrant.
Whether you’re a relatively new school owner looking to build a school from scratch, or if you’re a seasoned Martial Arts school owner looking to grow your school and take it to the next level. planning is critical to your success.
One lesson I learned from the corporate world and particularly from the mistakes I saw in that world, was to not waste any time experimenting with areas you know nothing about; instead, follow a proven formula. That is to say, if someone has a formula which works, a formula which delivers results and success for them, then if you can get hold of that formula use it, buy it, take it and make it your own and you will save yourself a lot of money and a lot of time.
One of the rules of successful entrepreneurs in any industry, is to surround yourself with five very successful people. So, taking a leaf from that book, identify the top five Martial Arts schools in your area or for that matter anywhere and reach out to them to see if any have developed a program which is transferable and scalable.
In doing so, you will lift your game to extraordinary heights because you are the sum of the five people you spend most of your time with.
To that end if you spend most of your time with people who are unsuccessful it will be difficult for you to become successful. If on the other hand, you spend most of your time with people who are very successful, you won’t be able to help but learn from them and you too will become more successful. It’s a simple equation of success through association.
All of the most successful people I know have their own coach or business mentor to guide them and help them with their key decisions. Someone who has taken the steps and knows what you are experiencing, knows your challenges and will help you take your business to the next level without judgement.
Martial Arts Australia has been operating for over 30 years and has become the largest and most respected association in Australia. With the largest membership and services it acts as a 'One Stop Shop' for club owners and for consumers to find a professional club to train. Its services reduce costs of club owners providing business assets and discounts to essential products.
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