Amanda Barr 0:02
Hello, friends, I'm Amanda bar.
Rebecca Liu-Brennan 0:04
And I'm Rebecca Lu Brennan and welcome to Dance principles united the podcast. Together,
Amanda Barr 0:10
we are passionate about helping studio owners with the business of running their studio.
Rebecca Liu-Brennan 0:14
Join us as we talk everything through marketing systems, studio culture, motherhood, life and everything in between.
Amanda Barr 0:21
This is the dance principals United podcast. So let's chat about some of the exciting things that we like to reflect on. When we get together. I think it's really important to start with your wins, don't you think back?
Rebecca Liu-Brennan 0:34
Yeah, I think it's good to start positive remind ourselves because I think we run as studio owners like we run, and we just do all the things and we actually always forget to celebrate what great things we've achieved. So if you can start with your wins, I think that's a game changer.
Amanda Barr 0:49
Absolutely. Look, I love to start with, you know, a few personal wins, as well as business wins. And that's something that I learned from you, because, you know, it's this work life integration that we've spoken about before. That's super important, it's not work, then life. And they're two separate things, as a small business owners, it all kind of comes in together. Because, you know, sometimes we're gonna be great at one and the other is gonna slip and vice versa. Because that's just how it is, we can only do what we can do. So I think it's really great to start with wins, both personal and in business.
Rebecca Liu-Brennan 1:21
Yes, I love that. And, you know, we talked to our members about doing like the just rating different parts of your life family out of 10 these out of 10. And I think like, it does make you reflect on what you're doing great at the time, and what you're not doing great at the time. And I did say to our tribe members the other day on the call Amanda, I'm not so great at family right now, I have to be really honest about that. Because it's constant time. And let's be real, I'm spending so much time trying to organise all of that stuff, that family is kind of getting pushed aside. But at the same time, I know that then, you know, come the 18th of December, I'm going to stop spending time with family. So it goes in ebbs and flows. But it's definitely good to reflect on what you have really achieved in your personal life as
Amanda Barr 2:07
well. Absolutely. So I like to really start by reflecting on it, a big personal win, and then a big business win as well. And then actually get down to some actual numbers. Because it's all well and good to talk about, you know, big lovely wins, like the culture at the studio was amazing this year, which is fantastic. That's a definite win. But I I'm a numbers person. And I, I like to see the actual numbers. So I like to reflect on actual numbers, total students that I had total class placements and the revenue that I had in the studio, because it's important, we're business owners, it's important. Yes.
Rebecca Liu-Brennan 2:41
And as you know, I was never a numbers person, and have really learned to be that. But I actually look at that every single week now. And it does make such a huge difference. And what we've looked at this week as a team is what our top was, and our top class placements. And then you want to achieve higher than that the next year. It's, it's crazy how many studio owners we talked to who not only don't know, their studio numbers, how many kids are actually in their school at the time, they kind of like, you know, really wishy washy about it, but also don't know their class placements. You can have 600 kids in your school and 600 class placements. Or you could have 600 kids in your school and 2000 plus placements. That's a big difference in revenue. Absolutely. So
Amanda Barr 3:25
I think it's so important to know that and reflect on it. You know, like I love you know, I use Jackrabbit at the studio. It was a great software and most software's do it. But those numbers, those class placements are showing every day when I logged in, there wasn't a day that I didn't look at that number. And I think that's super important. And I think, you know, if it's not something you look at daily, we'll definitely you know, write it down, like make a nice journal, like make a notebook to reflect on these numbers. You know, is it every year? Is it every term is it every month, like the more regular you can do it, the better. But I think reflecting on it at the end of the year is super important. And
Rebecca Liu-Brennan 4:05
also important to then set the next goal if you know that you had 200 students and 400 class placements, then you know that you then the next year, you want to aim for 250 students and maybe 600 class placements. So it's it's giving yourself the goals as well, if you don't know what you achieved the year before, how do you know what to reach for?
Amanda Barr 4:23
Absolutely. And so I like to reflect on the studio as a whole, but then I like to reflect on certain aspects of the studio as well. And you know, we've all just finished concert and the concert it's a big part of our studio life. It's a very it's the biggest event of the year. So I like to take the time to reflect on the concert as well. And I think that's really important. So
Rebecca Liu-Brennan 4:47
important, and we did this in the tribe call as well. But I think for me the biggest thing that I achieved with the concert you're gonna laugh at this Amanda was the party room. Absolutely mighty room was honestly the big This game changer for us. So this was our big trip concert, we had the party room. I hired party planners, which I know you've talked about for years, but I've just never really done it. And it was amazing. It made the change rooms so much easier for everyone. The kids who only do one or two dances had an absolute bowl, it was super duper amazing.
Amanda Barr 5:20
So, so good. I love that. And I think that's what you need to do is like, what was the best thing that we did at the concert this year? What is the absolute best thing? And then what were the things that weren't so great. And I think it's important to write them down. Now, when it's still fresh in our mind, then get to next year and go. Wait, what do you not like about the concept? What happened? What was, you know, to actually sit there and write? Is it write it down, put it in a notebook, put it in your Notes section in your phone, whatever. But write some notes on what things did not do so well. And what changes am I going to make next year? How am I going to fix that next year? Because otherwise we start running? And we forget?
Rebecca Liu-Brennan 5:59
Yes, absolutely. So I'll tell you mine for that as well, just because I'm actually I think the number one thing that was a bad thing for us was our selling out of the concert. Obviously, that was not ideal. And we had to split it. I think the other thing that was bad for me is Tim was actually helping backstage for the first time, which was amazing. But then I felt at the end of the concert that I should help him pack up, which meant I didn't get out and talk to parents and not that that really mattered because it was all my stars critical paths to go out and talk to parents. But I feel like I missed out. Because that's always the funnest time when you go out. And parents are like, so happy and you get photos with the kids. And so I actually missed out on that time. And I think that's a big self reflection. I didn't realise how much I enjoyed that process until I I
Amanda Barr 6:47
hadn't heard that from you. Yeah, 100%. And I think it's important, like, we all have our roles, right? Including life partners, people that work in the studio, and people that don't work in the studio that help you. It's important to know what the expectations are in the roles, I think.
Rebecca Liu-Brennan 7:03
Totally and like, Yeah, I think making sure that that happens. So I mean, we've heard so many times that people at the end of their concert, don't go out and talk to, you know, families and parents and just kind of stay in the in the back room and allow Oh, those
Amanda Barr 7:18
kids get away from me. Yeah,
Rebecca Liu-Brennan 7:21
not ideal, we definitely need to go out and talk to the parents,
Amanda Barr 7:24
right. Absolutely. So I think, you know, taking the time to do a bit of a reflection on on the concert is super important. You know, your biggest wins, you know, what you learned and what you want to change. But then also, once again, going into the numbers, you know, how many tickets did you sell? What was your profit, you know, from the concert, you know, both for ticket sales, but then also like, what was your costume profit? What was your ticket sale? Profit? What was your total profit, concert feed, profit, all those things? I think it's important to sit there and break it down, because that will help you set goals for next year. Yeah,
Rebecca Liu-Brennan 7:57
totally. And also like, then, you know, I was talking to one of our SGC people the other day, and she realised that she had really opposite. She hadn't made enough money on costumes at all, to even cover what she was doing. It's that realisation like we all make mistakes. We all do things wrong all the time. But it's then going okay, I didn't make that money there. So next year, I need to really be more careful about
Amanda Barr 8:17
that. Absolutely. And I think you know, it's important to know, and if you're listening to this, and you're a new studio owner, or you know, a studio owner that isn't really comfortable about the numbers, it's important to know that concept should make us money. It's important, like we need it, it's you know, it's one, it's a lot of work. It costs a lot of money to put on. But also, you know, I've always thought about it as it should cover our six weeks closure, eight weeks closure, whatever the amount of time that you close for, it really needs to cover that. Because as no other business would shut for six or eight weeks in a row. Yeah, absolutely. So if you're doing the content, it's a lot of work. So it deserves that. But then it needs to be able to pay for that time for your rent and for your wages, including your own over that period of time.
Rebecca Liu-Brennan 9:09
Yeah, I mean, when you think about it, most dance studios actually closed for 12 weeks of the year. That is crazy. So we're actually getting revenue in right for 40 weeks of the year. So it's very interesting. Sorry, that was it's very interesting to look at. And see that you know, we do you need to make up money over that time. And we do need to realise that we're only open for that small amount of time. Absolutely.
Amanda Barr 9:35
So sit and do a concert reflection. I think that's super important. And then I think the next thing that you really need to be looking at is a goal reflection because not a reflection setting goals. Let me get it right. We're recording this podcast late at night. That's not like us. But a goal setting because goal setting is super important. And that's how we you know, grow our business and grow ourselves as business owners to write.
Rebecca Liu-Brennan 10:01
Yeah, totally. And I think having those goals in and around us I talk about this a lot I know. But I really do feel like, you know, if you wake up in the morning and you look at your goals, you remember why you're waking up and what you're doing for the day. And I think it gets you set for the day in the right mind frame. And I think that is so so important and setting goals in different aspects of your business.
Amanda Barr 10:21
Absolutely. So what kind of goals do you use kind of set? Like what what are we talking? Is it financial goals is a student got like, how do you set goals that pause? Yeah, all
Rebecca Liu-Brennan 10:32
the things. So definitely financial goals. We absolutely set student numbers and class placements, I feel like class placements is almost more important than student numbers sometimes. Definitely goals around profit for our concerts and look at, you know, and reflecting on that.
Amanda Barr 10:49
I just pull something up there. And I love that you said that. And for anyone listening, like, you know, Becker said, profit, not revenue. And I think it's really important. You know, that was the old saying about revenues for vanity and profits for sanity. Like, who cares what the revenue is? If the profits not there, the profit is the thing that counts, which means it's very important to know your numbers and know your expenses, because especially with things like concert, you know, you're like, Oh, I know how much the theatre costs me. But then there was, you know, all the extra little things, not just the staff, but you know, was it the balloons? Was it the flowers was that the, you know, all of that stuff that adds up really quickly. So knowing your numbers around that is super important.
Rebecca Liu-Brennan 11:32
Oh, totally the trophies, the T shirts that, like it's literally never ending the cost of content. And then it's even just going and buying little props on the day like we even count that in. But it's just like, You know what I mean? Like, you just own the day and you're like, oh, we need to go buy this quickly. And all
Amanda Barr 11:48
adds up. It does all add up. Absolutely. So I love that. Sorry to interrupt your flow. You're talking about which goals but yeah, I love that. You talked about profit, not revenue. Yeah,
Rebecca Liu-Brennan 11:57
totally. I think costume and uniform goals are really important to reflect on for the year. Again, I don't think we we put enough importance on that. How much did your costumes and uniforms cost? And how much profit did you make of it? That's like, Next Level important, right?
Amanda Barr 12:12
Absolutely. It's so much work. Oh, my God, the amount of work we've all been there picking the costumes, sizing, the kids jumping on the website to find out they didn't have one for that one child and then having to redo the whole thing and change suppliers or they can't get it in time or whatever. We've all been there. And it takes a lot. So it's important that you're getting a profit from those costumes as well. Yeah,
Rebecca Liu-Brennan 12:35
totally. Luke, something that a lot of our tribe members brought up Amanda was staff and you know, self reflecting on staff and setting some goals around maybe changing the way that they are dealing with staff, I think that's really important as well, especially our self reflecting as leaders, it's so easy for us to blame the staff for all the things, but maybe we need to look at it and go, What did I do that I need to do differently next year. In that sense,
Amanda Barr 13:00
I love that that's so important. The last thing that I love to set goals around is personal goals as well, you know, personal goals around, you know, how much time I'm spending with my family, or, you know, all of that quite like, you know what I'm doing, like, for me personally, whether that's for fitness or for learning or for self development, or, you know, whatever that is, whatever is important to you as a as a person, I think is important to kind of set some goals around that too.
Rebecca Liu-Brennan 13:29
Yeah, I love that. I love that, I think, yeah, self reflection on that. And even your partner like you know, they're so neglected at this time of year for all of us not, it's just like, even self reflecting on that. And making sure that you spending time with them is super important. All the things,
Amanda Barr 13:46
all the things. So if it's not something you already do, like beckoned, I would really recommend that you know, take a couple of hours, you know, go somewhere nice, go with your loved one, your business partner, whatever. Spend the time journaling, if you're by yourself or whatever that is for you. But taking some time to you know, lay on a beach if you can have a wine, but you know, lay on your backyard like whatever because I think sometimes when you're in that like nice relaxed mode, it's very hard to sit there and reflect when you're sitting at your laptop and the emails are coming in the Facebook's pinging and all the things it needs to be a nice environment so whatever you can do you know even if it's just going for a walk and sending yourself a voice memo, but doing something nice for yourself, whatever you enjoy, and you know taking some time to you know, journal discuss write down those reflections and the goals for 2024 That would be the biggest gift that you could give yourself before the new year starts. I think it's really important.
Rebecca Liu-Brennan 14:46
Yes, I love that so much and you know if you're not sure of your numbers, definitely get sure of them. You know, take the time to actually look into that because it is such a game changer and it makes it exciting then when you're setting those goals so Definitely, you know, make sure that you guys are investing in your business in that sense. Absolutely.
Amanda Barr 15:04
So if you decide to do this, if you're laying on a beach, if you're journaling somewhere, take a picture and tag us because we would love to know or at least send us a DM, we'd love to hear what you're doing and how you're taking the time to reflect. And I hope that you do that, and you learn something about yourself. And it's really take the time because I think that's what it is. Sometimes it's a bit of a look, this is gonna sound a bit weird, but a bit of a journey of self discovery, right?
Rebecca Liu-Brennan 15:34
It is and and that self reflection is how you become truly great at something. And you know, Amanda and I are constantly self reflecting even our own business of doing new things, and what have we achieved and what do we need to achieve? And if you don't, if you don't do that, you're just gonna stay the same. The only way to grow is to look at how you need to change.
Amanda Barr 15:54
I love that so much. Well, thank you so much for joining me on a very late night back is always lovely to chat to you. It's like friends, you know, it's Christmas. It's constant time we'd all doing all the things but we hope that you've enjoyed this podcast as a lovely Christmas gift to us. Will you please jump on Spotify or Apple podcasts, request that follow button and write us a review? It would mean the world to us. It would really help our business grow and if you get something out of it, it would mean the world. Thanks everyone.
Rebecca Liu-Brennan 16:25
Have a great Christmas
Transcribed by https://otter.ai
