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New Year Goal Planning for Dance Studio Owners that Works!

Type:

Studio Owner Article

Category:

Dance Studio Owners

Time to set your New Year business goals and to set the action plans needed to achieve them

Through the many years of being a dance studio owner I can assure you that setting goals and devising a plan to achieve those goals definitely works. We have had real life application of this and have found it to be invaluable for the growth of our dance studio. What do you have to lose? So, let’s give it a try!

The best goals happen because there is a plan

Goal setting is the process of deciding what you want to accomplish and devising a plan to achieve those desired results. For entrepreneurs, goal setting is an important part of business planning.

For effective goal setting, you need to do more than just decide what you want to do; you also have to work at accomplishing whatever goal you have set. For many dance studio owners, it's the second part of the goal-setting definition that's problematic. They know what they want to do and they're perfectly willing to work on it, but they have trouble creating a plan to get there.

So, the question is where do you start?

Write down each goal on a piece of paper or word document. Under each goal write at least 5 things that you are going to do to try to reach that goal. These will be your action plan activities. You can add more as you proceed. Next make sure that starting the beginning of the year you spend time each week working on one of the action plan activities.

Setting Personal and Business Goals

The same goal-setting formula and strategies that work for business goals will also work for personal goals. The bonus is that applying the strategies used to set business goals will give you greater success in achieving personal goals.

Business goals are typically set on an annual basis and should be aligned with your long-term goals. These goals should be worked into your business plan and, when appropriate, specific areas like sales forecasts.

Throughout the year, you might have weekly, monthly, or quarterly sessions where you review your progress towards the annual goal. Examining results is essential for staying on track when you're working toward achieving a goal.

Monthly Planning

At the end of each month, you should review what you have accomplished for the month and think about what you would like to achieve on the following month. Preparing a to-do list for the next month is an excellent practice that will help keep you on track.

Whether you prefer to do it at night or in the morning, monthly planning is a highly recommended way to increase your business success. Regularly reviewing your goals and your progress toward achieving them keeps you focused and motivated. Doing this has been a real game changer for me!

Goals You Can Track

One easy way to ensure you accomplish your goals is to follow the SMART acronym, which stands for:

Specific: Rather than, "I want to increase my revenue this year," try, "I want to increase my business revenue by 30% this year."

Measurable: "Increasing sales" or "reducing debt" are measurable goals; "working harder" or "increasing my personal satisfaction" are vague and difficult to measure. Putting measurable goals in writing helps to keep you focused and see how much progress you've made at the end of the defined time period.

Attainable: A goal should be challenging but achievable. However, don’t be bashful about being a bit bold! If you are at 200 students and want to hit 300 that is reasonable with a good plan in place.

Relevant: Goals should be aligned with your long-term plans. If your ​long-term plan is for your business to attain $500,000 a year in revenue, your short-term goals should directly relate to achieving this.

Time-bound: Without a specific time, frame for your goals, they can't be properly measured. A goal should contain a time limit (e.g., "by the end of the summer I want to increase revenue by 20%").

Effective goal setting begins with a clear understanding of what SMART goals are and an awareness of the process needed to achieve them.

So, what are you waiting for? It’s time to get started. Once you do the magic will begin to happen. The first step is always the biggest and most important one to take.

Here’s to your success!

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Author

Steve Sirico

Steve Sirico

Steve is co-founder of Dance Teacher Web the number one online resource for dance teachers and studio owners worldwide.He is Co-Director of the very successful D'Valda and Sirico Dance and Music Center in Fairfield, CT for the past thirty plus years. His students have gone on to very successful careers in dance, music and theater. Originally from Norwalk, Ct, Steve excelled in track and football. He attended the University of Tennessee at Martin on a sports scholarship. Deciding to switch and make his career in the world of dance, he studied initially with Mikki Williams and then in New York with Charles Kelley and Frank Hatchett. He has appeared in a number of theatre productions such as Damn Yankees, Guys and Dolls and Mame in New York and around the country and in industrials and television shows. He was contracted to appear as the lead dancer in the Valerie Peters Special a television show filmed in Tampa, Florida. After meeting Angela DValda during the filming they formed the Adagio act of DValda & Sirico appearing in theatres, clubs and on television shows such as David Letterman, Star Search and the Jerry Lewis Telethon. In 1982 they were contracted to Europe and appeared in a variety of shows in Spain, Portugal, Sweden, Finland, Switzerland and Italy before going to London, England where they appeared as Guest Artists for Wayne Sleep (formerly of the Royal Ballet) in his show Dash at the Dominium Theatre. Author of his Jazz Dance syllabus and co-author of a Partner syllabus both of which are used for teacher training by Dance Educators of America, He has also co-authored two books one for dance teachers and one for studio owners in the "It's Your Turn" Book series. He is available for master classes, private business consulting and teacher training development

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