Minimizing Attrition

By Alón Sagee

Attrition rates vary in different parts of the world, but in general, most businesses lose between 15% and 20% of their customers each year. So, if your intention is to grow your yoga business by just 10% annually, you would need to add up to 30% new students each year to make up for the attrition!

Most attrition occurs with beginners. For many new to yoga, almost any excuse is enough to discourage them from practicing: they hurt, they’re self-conscious, they think they’re not good enough or flexible enough, they feel intimidated by other students, etc…

What have you done to minimize attrition? Click on “Comment” below and share your thoughts, questions, and ideas.

Yoga Business Pitfall Part 1

by Coach Al Lipper

PITFALL #1: BEING IN A RUSH
Business usually takes time. Our society is so wrought with instant gratification we often overlook the fact that things take time. Just as the farmer can’t plant crops too late in the season then try to “rush” them to grow, certain aspects of business take time. If you are trying a new type of advertising strategy, it might take three months before you can tell if it works or not.

THE SOLUTION:
Learn from someone else who has done it successfully and ask them how long they waited before seeing results. If we plan ahead and act early, we won’t be in such a rush at the end. For example, don’t think about holiday promotions in November, instead plan them in September in case some actions need to be taken early. We can often save money by starting early as well. After all, have you ever been to a workshop that cost more if you signed up last-minute than if you registered a month or two in advance? (Hopefully you use this strategy yourself with any programs you offer.) As you get better at a particular aspect of running your studio, you’ll be able to do it faster; but in the beginning, it takes time. Be patient, evaluate your results and make changes as needed.