Episode 3: How to Lead with Your Heart and Strategy

00:00 - 1:11 → Episode Overview

Erika: As health, wellness, and beauty experts, you know all about keeping a calm, peaceful space. But what about your business? Is that pretty calm? I'm Erika Dowell, business operations expert and your host of the Business Flow Formula Podcast. Each episode, you'll get real-world advice and strategies from people who have been there, done that and lived to tell the tale. So you can clarify, streamline and elevate your practice from the inside out.

Welcome to the Business Flow Formula Podcast. In today's episode, I am interviewing Janet Song of Lumi Yoga and we talk about her journey all the way from when she was was doing a lot of yoga and then as a lot of hobbies do throughout post-secondary, kind of went to the wayside and she pursued her law degree and became a lawyer in Toronto. Last September, she decided to take a step back from that and return back to her roots in yoga and proceeded to start a business in a very short amount of time. And we talk all about that journey and setting goals, and really work through the goal worksheet that I have designed for the Business Flow Formula.

01:11 - 2:54 → Intro

Erika: I think starting a business is really scary, and it really comes down to just taking that leap of faith. And I know you and I met back in January, watching you slowly roll out the business over three or four months was really exciting and hearing the updates and the different events that you're doing and planning and that kind of thing. So it's been really fun to watch the initial journey and I'm really excited to meet today to kind of go over your goals of the next few quarters and year and really setting up your your business for success and ultimately you up for success - so that you're not getting those squirrel moments of, oh, should I do this? Should I do this? Should I do this? Making sure we're putting down the groundwork in your business together. 

Janet: I think when we first met, actually, I hadn't even started the business. I think it was just kind of like a little, it was in vitro. It was still, I think that it was on the edges there, and I was kind of alluding to something happening, and then it happened slowly but quickly as well, so it's kind of amazing.

Erika: Very much so, I feel like a lot changed between the first time I met you and then the second time, and it's I'm launching a business in a month, and I'm like - wait, what? So I think that's great. I know off the record, we were talking about some of the goals that we want to work through and that kind of thing.

And so today, Janet, you and I are going to go through the Lean Canvas, not something that I came up with, but something that has been around in business and business planning for years now and it really helps you take your business and put it onto one page and so together we're going to work through this and then we're going to jump into the goals of your business and also for yourself. 

2:54 - 12:16 → Lean Canvas Methodology: Defining the Problems

Erika: So to start, when it comes to business planning, we've all seen or heard of the long business plans. My philosophy when it comes to business planning is that it's actually a living document and something that you should be visiting from time to time, not every week or every month, maybe once a quarter or semi-annually.

We like to get started with what the problem is that people are facing, and listing their top three frustrations and then we go into any existing alternatives and how those problems are solved today. I think for the purposes of what we're doing today, I really want to focus on Lumi Yoga and that part of your business, not necessarily the yoga instructing unless it's starting or you want it to become a bigger part of that business. 

I know that it's hard to sometimes differentiate from different parts of the business or different parts of you. Even as a solopreneur, you are the business, the business is you and having those separate are hard. But when it comes to running retreats and wellness and those kinds of things, what do you think the top three frustrations are that your clientele are facing? 

Janet: Just to clarify, is it the problem in that, like the problem my business is trying to solve or just the problem in the industry in general? Or is that kind of like the same thing? 

Erika: It's kind of the same thing. It's really, why do people need wellness retreats? Whether it's corporate or personal or what have you. 

Janet: So I think that the number one problem that we're trying to address is just the fact that we live in such a high-stress and busy culture. So I think that the culture that we live in, especially here in Canada and the West in general, it's very focused on work and grinding and kind of doing it all: being a good parent, being a good business owner, being a good employee, being a good citizen in the world. And all of that can be a lot of pressure. I think that there's kind of a lack of conversation and outlet for people to express their frustrations without feeling judged or feeling like they just can't keep up, and I'm really speaking from a personal place when I speak of these problems because that was my life, you know. I tried to have it all, I tried to have the fancy job and the six-figure salary and also have a social life and also be a good family member. I was really feeling crushed by the pressure, so I think that one of the problems is this kind of burnout culture in general. 

And what I found really helpful in my journey was to attend events where I felt safe, where I could be myself, where I could kind of release stress in a healthy way, because there's also so many unhealthy ways that you can kind of release stress and try to numb the pain from living in a really high stress culture, whether that is substances or partying and, you know, all that is great but I think in moderation. 

So the problem is that we have so much stress, we don't have a lot of healthy options to process it. So, Lumi Yoga is providing a hub where all events that can be supportive for your physical, mental, emotional, spiritual healing journey are in one place. People in Kingston and surrounding areas kind of know where to go if they're looking for those types of experiences. 

Erika: Right. So I heard you say high stress, busy culture, burnout culture, and then not many healthy options to unwind or heal from specifically the high stress and burnout culture or those healthy options or the only options, could be considered like club culture or something like that rather than just taking time to slow down. 

Let's talk about what the alternatives are other than, you know, club culture, push through the pain, so to speak. 

Janet: Or kind of like individual healing, you know, like, I don't know, going to therapy, you know, taking antidepressants, something like that. I'm not knocking any of this. I think that all of this, including partying and clubbing has its place, but I think that the problem that I'm trying to solve is: what if maybe you want to do a little bit of movement, maybe you want to do a little bit of meditation, maybe you want to actually just lie down and have a blanket over you and have someone speak to you in a soothing voice. So, where's the space for that, and where is that happening?

Erika: So, the existing alternatives: club culture, push through the pain, individual healing (whether that's one-on-one therapy or whatever people find), perhaps medication. And then I don't know that this is an existing alternative, but rather just the problem where there's not many group therapy sessions, essentially. Lack of support networks or groups. 

Janet: That's right. And that's kind of where my second problem is, and it's related to the first one, which I would say would encapsulate burnout culture. But the second problem is that we live in a really individualistic society, and social isolation is a big problem, especially after the pandemic. I think a lot of people work from home and kind of stayed at home and so the stimulation and connection that we would be getting by going to the workplace - and I'm definitely not like everyone should go back to the workplace type person, but I do think there is importance in connecting with other human beings. It doesn't even have to be deep connections. It's just good for your mental health, and we're social creatures. We should be around other people. So that's kind of the second problem that I'm trying to solve is: how do we connect people in a really disconnected world? 

Erika: Yeah, I totally hear that, especially as someone who runs a remote-first business.

It's something that I think about all the time - how can I make sure that me, but also my team members, are getting the social elements of work that they need or social time outside of work that they need as well. From the problem and alternatives, let's talk about the solution. How are you solving this, or want to solve this?

Janet: Yeah, I want to solve this, and I think I have made steps to solve this by creating space, basically. I think that that is like, if I could sum it up, I'm creating space for people to be able to work through some of the challenges that they face living in a high-stress and isolated culture. So, whether that is having, for example, like where we met, we met at the yoga social where I held a yoga class, and then afterwards, we had an indoor picnic where we had snacks and then got to chat with each other. And I've met actually, personally, I've met great friends through there, including you and other people as well. So I think that the solution is creating a space where people can feel like - maybe I want to push myself and maybe I want to try something new, but that it's accessible and also it's low pressure.

I think that one of the problems of trying to go out and try new things and meet people is it can feel really daunting, especially if it's something you haven't done before. So that's kind of the solution I hope to bring is who I am as a person and how I market and how I present my brand. I want it to be very accessible to a wide range of people, even people who maybe aren't that into wellness - I think that there is space for them at my events, because again, I think that this should be something that is accessible to a lot of people, not just kind of a niche or a small group who have special interests. I think we can all benefit from slowing down and connecting with one another. 

Erika: Definitely. I was actually just talking to a friend on the weekend, and they had mentioned that they needed to find some hobbies. And I said, Oh, you should start yoga. And I laughed a little bit about that because they laughed and said, well, I don't know if I would fit in. And I just said, well, you got to find the right space for those moments. I mean, it's all about getting out and moving your body, ultimately. And then you can meet people while you're doing it. I use this philosophy in life where, you know, I feel awkward, you feel awkward. So let's just acknowledge the awkwardness and move through it. Sit through that awkwardness, and we're going to get to the other side better than we were before. But if we don't talk about being awkward together, oh, do they like me? Do they not like me? I feel awkward. Everyone's awkward. Let's just get through it. 

Janet: Exactly. And I think that that's kind of creating a space where people can step out of their comfort zone in that way, and it doesn't feel like it’s going to cause a lot of panic because I get that. I have been there too, personally. I think I consider myself a very social person and extroverted, but I wasn't always like that. Going to events where there were a lot of people I didn't know really scared me. So, I feel like I am coming from a place where I understand that, and I want to make it a place where people who feel like that as well feel welcome, you know, and they can show up exactly as they are.

12:16 - 15:53  → Lean Canvas Methodology: Unique Value Proposition

Erika: I love that. So the next part of this is the unique value proposition or the UVP. And it really is, why would someone choose you to plan their wellness retreat or their event over someone else? What makes you you? It's not necessarily that you're better than someone else because I don't believe in that philosophy, but why would someone choose you over someone else? And it really is, we're looking for a one-liner that you would have in your marketing, essentially.

Janet: If you want someone who's organized, pays attention to the details and gets things done, you should hire a lawyer, but also a nice lawyer. A lawyer who has decided to hang up her robes and use it to bring good to the world. So I think, I know you just want a one-liner, but like, if I could expand on it a little bit, it's just like kind of the intensity and the attention to detail and all of the things that made me successful in my law career, I'm applying to this. 

So I think that, again, events - if you think about it, it’s just one building block at a time. Being prepared for the unexpected, being able to manage people and being able to communicate clearly, especially the details (the pricing, what people can expect). I do find that coming from a career where those were the most highly valued skills and could get you into some of the biggest law firms in the country, work really well with wellness events. So I think that we can talk about this more in goals later, but I'm hoping to do more partnerships with wellness entrepreneurs and healers and people who have a talent but kind of don't know how to start getting their events off the ground or how to market themselves, because I kind of consider myself someone who can kind of swoop in and just kind of take that on and run forward because that's my personality. That's what made me successful as a lawyer. And I think that's what would also make me successful as a wellness event planner. 

Erika: I was just going to say that, you know, as someone who has a legal perspective, practiced as a lawyer and everything, you likely pay so much attention to what people can expect because there's contracts that are being fulfilled. And so, making sure that you're planning this event and making sure those contracts between the event and the attendees are being fulfilled, that's number one on the legal standpoint - so you'd be really suited to that for sure. 

Janet: There's also a lot of legalities relevant to events, you know, and just the health and wellness business, because you're actually kind of providing services that impact people's health and their safety and can be put at risk. So, I am shocked at how much I am using my legal skills and drafting liability waivers or service agreements or permits and insurance. Again, I think that law is a part of every business. So it's a very highly transferable skill, actually. Like, I wouldn't always recommend that people who want to be in this field go to law school, but you know, it doesn't hurt. 

Erika: That’s incredible. Yeah, after I took business law for like the sixth time, I was like, I think I know everything about law now. I think I'm good to go, and I'm still learning. 

Janet: Oh, gosh. Yeah, it's just never-ending. 

15:53 - 20:39 → Lean Canvas Methodology: Reaching Your Customers 

Erika: I think we've already covered the high-level concept of the business. So we're gonna keep moving right along. And we talked about unfair advantage. I think that's just lawyer - period. And then, when it comes to reaching your customers or your clientele and that kind of thing, where do you think that you'll be able to reach them the most? And the conversations that I have with my clients are ultimately, Where do your people live online? You know, imagine if I'm your client, are you going to find me on Facebook, Instagram, LinkedIn? And where do you want to be promoting your services? 

Janet: Yeah, well, so far, Facebook has actually been the most effective. I think that, again, what I'm kind of imagining putting myself in someone who is going to come to my event's shoes is that they're scrolling through Facebook, kind of looking for something to do, and then they see, oh, there is a yoga social this weekend. Okay, maybe I'll go. Maybe I'll invite my mom. Maybe I'll invite my sister. So honestly, posting on Facebook has been my main way of reaching people.

Instagram is another way. I'm not sure how many people are actually clicking through on the links and purchasing tickets based on Instagram. But, I think it's for me a way I can kind of, it's like a blog almost, you know, it's a way I can kind of keep people updated on what's going on in my business. I was thinking about this as well, kind of at the beginning of this journey is like, how do I want my brand voice to come out - do I want to speak from like I am Lumi Yoga the company and I’m like very detached from it personally but I found that as I've just kind of let it grow organically over the last few months - I found that speaking from my viewpoint as a new entrepreneur, as someone who's trying something new, doesn't really have it all figured out, has been quite effective. 

So I think that blogging and Facebook are the main ways. I'm also trying to build kind of an email newsletter community. It's still a work in progress, but I do think that it's a priority moving forward. And honestly, when I first started this business, I was very old school. I printed out posters. I walked around and I hung them up. I don't know if I got a single lead doing that, but again, I don't know really what I'm doing exactly. So I was just trying out multiple things. I think that it's too early to say exactly what the perfect method is, but I think Facebook is kind of where they live.

Erika: Yeah. I love that. I also wanted to seek clarification. Are you running retreats and wellness events for yourself, or are you running them for other businesses or both? So Facebook, for example, creating those events, you're finding when those events are yours, effectively that you own, you're finding those clients that way. What about clients that want to run like a corporate wellness retreat? 

Janet:  So, actually, for that, I am still figuring that part out. What I have done, so far, is make relationships at the yoga studios I teach at. So those are my clients, mostly - people who own yoga studios, massage therapy clinics, other wellness spaces.

So I am just in those spaces because I teach like 12 classes in seven different locations around the city every week. So I'm getting face time with all these studio owners, and I think they know what I do and they want to work with me. So that's kind of, again, very old school in a way, and then we can talk about this more with the goals about how to target businesses and entrepreneurs and other practitioners more directly, because obviously I can't like (I don't want to say I can't), but I don't know how to scale it. You know, if it's just kind of like a meeting for someone one-on-one, you know what I mean?

Erika: That's fair. As we move from channels into customer segments, through that conversation, you talked about yoga studios, clinics, in the sense of your paramedical clinics, massage clinics, chiros, those kinds of things. I just put corporate here as kind of a question mark of - what does that look like? I suspect that corporate wellness could be using your network within the legal world and promoting how healthy it is to make sure that the associates and partners are taking time for wellness. That can be a much bigger discussion, of course, and not just as simple as “go and do wellness retreats for law firms”.

20:39 – 22:50 → Lean Canvas Methodology: Revenue Streams

Erika: We're just going to jump down for now into revenue streams as we kind of wrap up the lean canvas, the lean side of the lean canvas, into revenue streams.

Janet: I am going to talk about yoga teaching because that is kind of one of the consistent ways that I make money is just teaching classes. So that's one revenue stream. Another revenue stream is holding events, my own events. So I would take most of the ticket profits if it were a Lumi Yoga branded event, minus expenses (like renting and you know food and all that other stuff). The third revenue stream would be service contracts with other business owners. So, for example, I have a contract with one of the studios that I work with where I help them with marketing. So it's kind of not really something I advertise that much on my website, it's just that they notice I'm good at it, so they want me to do it, and I get paid for it, you know? It's something I've been considering if I want to market that service or not, because I'm not actually a social media manager. I think I'm just a creative person, and I enjoy doing it, you know? But then, if you're a very busy business person and you don't have time to do it yourself, it can be helpful, you know? So there is that. And then I'm also looking - so retreats are another revenue stream. And then I actually haven't announced this yet, but I'm also looking into getting further certification. I think the first thing I'm going to do is a sound therapy certification - so I can offer sound healing in the community with the crystal bowls and like other therapeutic instruments. So I guess that would be like, if I could put that under an umbrella, it would be like clinical practice. Another thing that I'm hoping to get more training in is movement therapy and basically body-based therapy, like somatic experiencing. My aim is basically just trying to get as many revenue streams that I can handle as a solopreneur to try to make a living, and to be completely transparent, I'm not really there yet, you know, but it's also really early. I think that that is kind of a good segue into goals.

22:50 - 44:25 → Goals with The Business Flow Formula

Erika: I would agree. As we shift over into goals, I think getting started with the lean canvas was a great way to get the juices flowing. And it kind of does help us set up the framework for the goals, and we can just jump right into the phases of it, I think, for now. 

So what I mean by the phases – in the goal workbook, there is phase one, where it's the you need to or I need to. And then you move into phase two: so that you can, and phase three: because. I think it's really important that we always attach a because to our goals  - even if that goal is really vain of, “I need to have 500 followers on Instagram so that I can sell my services because I want to be famous on Instagram”. Like, you know, that's okay to say those things. And I think that we need to be okay saying those things. 

Janet: Yeah, that's true. I mean, I think there is a discomfort for me, but especially being in kind of a wellness healing business where I'm like I want to help, but I also want to make money. And it's like, I don't know why that needs to be uncomfortable, but I do feel a weird discomfort saying it. But it's also like, it's a business, you know.

Erika: It is a business, and it's okay to want to make money. I mean, I have a background in finance, and I have what I think is a very caring heart, and it's - oh, I should do this for free. I should help people organize their money for free. But ultimately, it is a business, and you and I both have skills that are important to be recognized for. And that recognition is okay, that it's monetary. Google reviews are great, but they don't pay the bills, you know? Exposure doesn't pay bill

So on this page, I like to break out goals on a quarterly, monthly, yearly basis, which I know I said those backwards, monthly, quarterly, yearly basis. But let's kind of get started with the bigger picture of your first year of business. I know you officially launched in March. So we're not even a couple months, about six weeks, seven weeks into that. What do you want the next year to look like? Do you have three high-level goals? I say three because it's important to get really narrowed down in our goals.

Janet: I think that my high-level goals are to get further training so that I can offer more services. I know that's really vague. 

Erika: But we will get more and more nuanced in this as we go from annual to quarterly to monthly. So say that again for me? 

Janet: So that I can offer more services?

Erika:  Because... 

Janet: Because I need to make more money. And I want to also build my skill set, you know, and I think that makes me more valuable as somebody to work with.

Erika: The next goal here, there's got to be a finance goal in here, I imagine. 

Janet: Yeah. Make a living wage.

Erika: Okay. You know what? That's great. Make a living wage.

Janet: I know. I'm sorry that it's so blunt, but you know.

Erika: No, one of the philosophies that I have at Signal is that we got to be open about talking about money. And if your answer to the vision is make a living wage, that's okay. And I think every business owner listening to this is like - yeah, exactly. 

Janet: Yeah. I need to make a living wage so that I can survive. I'm also going to continue to do this, honestly, like that's the goal. I want to be able to continue to do this because it's kind of my dream job. So maybe that's my because. 

Erika: I was going to say that sounds like your “because” right there, Janet. All right, so make a living wage - I think that that goal is a little small if you were to ask me, I think you're a little bigger, but you got to start somewhere. I think make a living wage is probably quarter one. And then annual is probably, you know, replace, maybe not replacing a lawyer's wage in year one. But, you know, I'm just going to put some dollar money in here. I know that I don't like to expose money goals fully with the numbers per se. Because everyone is different, and the reasons are different. But you want some money in.

Janet: Yeah, yeah, I would love some money in. I would love more consistent money in. And I do think that there is kind of whiplash from coming from downtown Toronto lawyering to health and wellness small business in Kingston. It's a lot to adjust to. I'm realistic, I know that to make the amount I made as a lawyer, it would require something... pretty huge, so I think that's why I'm trying to keep it small because I don't know want to say I don't believe in myself but I just want to like take it one step at a time if that makes sense.

Erika: Absolutely, like I said, I think having that make a living wage in quarter one/quarter two kind of goal, but bigger picture, I think more than a living wage annual goal. Ultimately like I'm not gonna be - I do want to check in in one year - but if you don't make you know, $30 an hour because the living wage here is $24 an hour -  you're not making $30 an hour but you're making $25, a win is a win. 

Janet: The more I can - like if I can keep doing this and I can pay my bills, that's awesome. You know that would be, I think that's something to celebrate, actually. And yeah, I would of course adjust my goals once I get there. But once I get there, I will be very happy. Cause it's kind of like, I kind of showed up into the city, I had no plan, and I have no job, and I just kind of made it myself. So I'm kind of starting from zero a little bit. 

Erika: And starting from zero means literal $,0 too. And because I know a little bit about you, I think that the last goal here is likely to host a retreat.

Janet: Yeah. Yes. Yeah, absolutely. 

Erika: And/or retreat goal to be eighty percent sales or something like that. I always like to put some amount of value or not value, but I want to have 50% sales or 60% - what would be yay, I did it?

Janet:  Yeah, 80% would be great because my first retreat (which is open for booking) at 10 people, so I actually kind of had eight in mind. 

Erika:  And so that you can…

Janet: I can get my first retreat under my belt and have a new revenue source. It's also something I want to kind of make into maybe its own business where I focus a lot on retreats. But, I need to get one “one and done”, you know, not one and done, but one under my belt. 

Erika: Right. So it sounds like because you want to have confidence in running retreats.

Janet: Yeah. And I need experience, and I need to get my feet wet

Erika: Awesome. So that's kind of year one in a nutshell. How is that feeling? 

Janet: That is feeling good. And I do appreciate the hope that I can push my monetary goals a little bit further in this first year, you know?

Erika: Yeah. I think it's important to have those discussions. 

Janet: Yeah, exactly. A woman, first-time entrepreneur. There's a lot of self-doubt. I'm not gonna lie, you know, and I'm pretty open about that. And I like to post about it on my social media accounts. But yeah, it can be daunting, because you're kind of creating something out of nothing. So kind of seeing this on paper feels good. And it makes it feel like it's more possible.

Erika: Yeah. So, going from year, now we're going to break them down into more bite-sized pieces. It's really SMART goals, but from the perspective of a person who doesn't like SMART goals, it is SMART goals, but it's kind of more broken down to three steps rather than they have to be all of these things. 

So, in let's say, quarter one of these goals, now we're going to break them down a little bit more. And so we have the vision of further training. In Q1, and for ease of figuring that out, we'll say it's April, May, June, so it's technically quarter two of the year, but Q1 of your business running. Is there a training that you would be working on in quarter one?

Janet: Yeah, sound therapy certificate. So if I completed that training, I would be a certified sound therapist, and I could offer one-on-one or group experiences with healing instruments.

Erika:. So then that's so that you can offer more services. And what would be your goal to offer or date to offer that first session? 

Janet: That is a good question because I think it kind of goes back to this apprehension, almost about like, who am I to just like start doing this? You know what I mean? 

Erika: Exactly. I know it's hard to say-  okay, I'm going to do the thing on this date because that means that you have a deadline that you have to meet.

Janet: It's true. Yeah. Well, actually, I think that it's a 200-hour program (100 or 200 hours). I would need at least like a couple of months to finish the course, I think. So let's say, I think I could finish it probably by the end of the first quarter of my business. So maybe it would be Q2, maybe like the first day of Q2 would be the earliest I could actually provide something as a certified sound therapist.

Erika: Right. So let's say July, maybe because you'll need time to advertise it. So mid to late July. And you were going to do this to build your skill set, but I think it's also proving to yourself that you can do it. It's really hard to write in first person, but talk in third person. 

Earlier, when we were talking about the monies coming in, I think Q1's goal is that you're making a living wage, which is approximately $24/hr in the Kingston area. It's a little bit less, but I always round up so that you can pay bills. We'll fill all that out here. I think it also, you know it's paying bills, but I think ultimately it's because it proves that people are interested in your service. And I think that's so important because getting paid is attaching a monetary value - yes - but it's also recognizing that the services that you're offering are needed and wanted. 

And then in Q1 for the retreat, how many sales do you want to have done by the end of June?

Janet: So I would love to, this is a really out there goal, but you know, actually, you know what? I'm going to say five deposits by June, by the end of Q1. Because our early bird special starts on July 1st so I'm hoping that the early bird schedule ends on July 1st, sorry. So, like by the end of Q1, I'm hoping for quite a lot of sales. 

Erika: Is it so that you can know that you can run the retreat for sure and make money doing it or at least break even? And that's ultimately, again, coming back to proving yourself. People are interested in these services. Is there a different “because” for you?

Janet: No, I think that - is a retreat something that people want to do with me? Or do I need more time to kind of develop as a practitioner? Or is it the time now? And I think that's kind of like what the idea of the retreat was, because I'm running it with my really good friend, who is a psychotherapist and a social worker. We kind of just looked at each other, and we're like, are we going to be more qualified than we are right now to run a retreat? And we decided that - no time like the present. But, you know, again, if we don't make sales, like that tells us something. Maybe we're too young. Yeah, I don't know.

Erika: Yeah, could be too young, could be wrong time of year, it could be so many reasons. But I don't know that it's a lack of experience or anything like that. It just could be so many different reasons that we can only hypothesize right now.

As we move from quarter one into a monthly basis, of course, we don't have time to go through every single month for the next year. But let's look at May of this year and what you're wanting to do in order to move some of these quarterly goals along 

Janet: So I think for the sound therapy, like enroll in it and take it - you know actually take the course because again it's 100 to 200 hours I can't remember exactly but you know it's a lot, it's a time commitment and I am busy, I do a lot. So it's just kind of like actually sitting down and like making myself be a student, and yeah, that's the goal. 

Erika: That is a great goal for sure. I think that we can understand the “so can’s” and “because’s” going down into the money side of things. We know that there's a living wage and everything that comes from that. So let's say you're running a yoga social later this month, I know that as I'm attending. This is a two-hour session, plus planning and clean up and getting there early. So, I imagine it's more like a five-hour to six-hour commitment for you. So if we just take that one example of running the yoga social, and that's a six-hour commitment at $24 per six hours or per hour, sorry, for six hours, quick math here, you'll want to make $144 after costs for that. Does that make sense, how I got to that number? 

Janet: Yeah, no, it does make sense. And I think that like, we're so awkward about money, aren't we? I can get into numbers. 

Erika: Yeah. I think as much as you want to get into numbers, we can. I know that there's costs associated with running this, whether it is rent or paying for the food, the drinks, you know, those kinds of things. So knowing that you need to pay yourself $144 and then do you have an approximation of what food and drinks cost?

Janet: Yeah, so let's say like $80 for food and drinks. It's actually kind of being a little modest, but yeah, let's just say $80.

Erika: Is it more than that? 

Janet: It can be, you know, it sometimes it depends on the vibe. $80 to $100, would say, yeah. 

Erika: Okay, so let's round up because I always like to set people up for success here. So $100 for food and drink. Are you renting the space where you're hosting your yoga social?

Janet: Yes, so the ticketing, it'll be 30% of the ticketing revenue is the rent, basically. So, tickets are $35 and there's fourteen spaces, so maximum revenue would be $490 and then times 30%. So rent would be like $147 max.

Erika: Right. Okay. So from there, knowing all of that information now, the total revenue, I guess you said, was $490, minus $100 of costs of goods sold (that's your food and drink), minus your rent, leaves you $243. And then from there, take out what you're going to pay yourself, the living wage. So then your business effectively is profiting $100, just under by a dollar. We want a goal to have 13 sign-ups for that in order for you to break even and leave yourself a little bit of profit. I do my break-even or profit points a little bit different because I think it's important to factor in paying ourselves as a business owner.

Janet: Yeah, it's funny, I never include that to be honest 

Erika: Well, and that's how we get ourselves into trouble because it's - well, I'll pay myself after everything, and you should be paying yourself first 

Janet: Right, yeah, exactly. It's just kind of like, again, this is important to do because it's like as long as I can cover food and rent, I'm good, but then it's like, but I kind of took the same approach to the retreat if I'm being honest with you. Yeah, mostly to cover expenses.

Erika: And that's because we don't necessarily think about, oh, wait, I got to pay myself for this. I was just going to pay myself from the profits. Well, the profits don't happen until after you've paid for everything and so how do you know that you need to sell 13 or 12? It likely rounds down to 12, but let's call it 13 for easy math. And so now you know what that break-even point is, so that you know, okay, I need 13 people to sign up, which is almost 100% sold out.

And then there's a larger question of, well, can I do 100% sell-out? Is this the time? Are people going to come in the summertime? Like all those kinds of things. If you reframe that mindset instead of questioning your ability, and reframe it into, I only need 13 people. And I know I already have five that are coming. Okay. Well, that's not that much more. Only eight more people. That's not that many people. So it really reframes that mindset. If you always run your breakeven points based on spending six hours and we framed it on six hours of your time planning, doing and clean up - planning around all of that will really help you make sure that the yoga socials are profitable and if they're not increase it, increase the ticketing price of it or increase the ability to have more people.

Janet: Yeah, it shows you kind of where the points are for improvement, but as is, it looks like it could be profitable.

Erika: Yeah. I mean, a hundred bucks of profit on top of paying yourself is nothing to scoff at. 

So, when it comes to the last goal of the quarter is that retreat. What can you do in May to help you solidify having eight sales by the end of June? 

Janet: Sure. Quarter one, we're really going to focus on local advertising. So, because the retreat is in South Frontenac, we really want to start, and because it's so small, and it's our first one, we want to start with kind of marketing it to our network. So our family, our friends and our community. So, whether that is sending out an email that people can forward on to each other or even kind of doing it the old-fashioned way, which is printing out posters and hanging them around town, kind of getting the word out in our community and then seeing what we can get from that. And then I think that depending on how that goes, who knows, we might just fill up on that alone before we kind of expand it to, you know, there's other groups and other avenues through which we could advertise, but it would go to people who we don't really know and like, that's okay. But I actually think that we have had a lot of interest from our own just kind of inner circle, about wanting to come. So I think that's kind of where we'll focus on because we have already communicated and it's already been communicated that there's interest in that area.

Erika: And I think running your first retreat, it's kind of like running a beta course or trying something for the first time. It's really good to have it with friendly faces or soft opening a restaurant where you have friendly faces who aren't going to yell at you if you're off timing by half an hour. They're going to let you learn, let you try it out, and then hopefully give you honest feedback. Which reminds me, make sure you take surveys of how people felt the booking process went, how they felt the check-in process, the weekend, and then send them a survey afterwards of collecting feedback of all kinds. Also, please leave us a Google review or leave us a review on Facebook, that kind of thing.

Janet: Yeah, that is a really good point. And I think that that is kind of like I don't want to say a weak point, but it's something that I'm so busy planning for the event that I kind of forget the afters. I'm like, oh, there is a whole after thing, you know? Like, there should be a process in place about people who come to your event have already signalled that they are interested, you know? So it's kind of like, why get new leads every single time when they're there? You know what I mean? And then just see what they thought and if they're going to come back again.

44:25 - 53:45 → Reflection and Wrap Up

Erika: So, as we wrap up this very high-level going through the Business Flow Formula goal worksheet, how are you feeling now about your goals? How are you feeling, hopping off this call and going into work and tackling some of these goals?

Janet: It's actually so nice to have it written down. I kind of say it as a joke, but I also mean it. I lead on vibes a lot, so I'm just kind of like, you know, I have a thought, and then like I follow that kind of impulse or that energy which has like served me well in coming to this and making such a big life change but I think I'm now kind of in the phase of my business where I really need to sit down and it's not just vibes, it's like numbers and it's plans and it's steps and this is something I need to do and I've been kind of avoiding to be honest. So it's great to do this, and again, it makes it feel like I'm just looking at phase one, step one. It's like bite-sized, you know, I can just kind of like enroll and I’m golden, you know. And then it kind of feels like there's a systematic way to move forward where I'm not just, you know, leading with my heart, which is wonderful and great in its own way, but it can also be a little bit chaotic sometimes.

Erika: Definitely. And we all have like that fire burning inside us that's trying to lead the way, and you know, wind is coming and trying to blow it out and blah, blah, blah. I always have these conversations with my heart-led clients because I also am very much of a vibe and energy person. And it's hard to have energy and numbers mix all the time. But when we break it down into words and goals and how we're going to get there, because vibes are great, but the vibes also have to pay the bills, so breaking it down in a way that makes sense and is just bite-sized pieces, it's a lot less daunting.

Janet: I will say, just like, just to give you some credit, is that like I actually did try to do a business plan, like a 25-page business plan, and it made me so overwhelmed.  I just quit, and then I stopped doing it. And then I just like, you know, so this we did in an hour or less than an hour. And it's like, I think that's what I wanted to do with that 25-page business plan, but I just got so overwhelmed and stressed out that I stopped doing it.

Erika: And that's why starting with something like the lean canvas or even just a three pager, here's what I want to do, dump all your words into something and then go edit it later is good. But that's business plans. Again, living document. The goal worksheet, a lot more attainable. I mean, you have to have something to present to someone, especially if you're seeking funding, so I get the point of business plans. But ultimately, when you're running your business, you have to have those goals that you're working towards, especially as business owners. We have a tendency to always move that goal post. And oh, cool - well, I sent an email. Well, let's move on to the next thing. You got to take time and celebrate the goals a little bit, and that you did a thing.

Janet: That's true. It's true. Yeah. Because it's easy just to, you know, okay, done. Let's move on.

Erika: Yeah. Did the thing, next. Did the thing, next. Yeah. 

Janet: But then it feels so mechanical, and then you kind of lose the fun of it, and it should be fun, you know, in my opinion. Why else would you do it otherwise? 

Erika: Why did you start a business if it's not fun?

Janet: Exactly. Just go work, you know, just be an employee and then, you know, get your benefits and all that. And it's just, you know, but that just, again, and I did get to that and I'm not being, you know, I'm not trying to be flippant because I did get there and in my very small time being a business owner, I did get to a place where I wasn't having fun and I was like, oh that's not the point. 

Erika: It's so good to have those gut checks. I remember sometime last year where I said - oh, I think we've lost the plot here, and I had to spend a couple of weeks just like, okay, got to tweak a few things and get back to having fun. I'm on these calls. I'm enjoying this. And doesn't mean that every single day is going to be the best day of your life. But the goal is I want a solid 90% of my days to be the best day of my life. 

Janet: How do we facilitate having more moments of joy and fun, you know? 

Erika: Exactly, and more wellness in our wellness businesses. 

Janet: Exactly. And that's the thing. I need to practice what I preach, you know, I'm not going to tell people that it's so important to slow down or else you'll burn out and then also not slow down and be burned out myself. It just feels like a snake oil salesman, you know, if I don't practice what I preach. So, you know, I'm very conscious of that as well. 

Erika: Yep. I love that. Do you have any more questions for me as we wrap up here? Anything that's on your mind? 

Janet: So yeah, it's a quarterly thing. So, what would you recommend setting those goals, so we did Q1. When is it time to set goals for Q2? Do you all do it all at the beginning of the year, or like, is there a specific date? Or is it just important to just do it at some point? 

Erika: I like to set up my annual and quarterly at the start of the year. But revisit as needed and reshape some of those goals. I had a dream of launching part of my business months ago now, but because certain things changed in the business, I had to readjust my goals. But at the same time, I was able to accelerate other goals. And so, rearranging and moving things around, I think when you're doing the quarterly, do the monthly at the same time for that quarter and then maybe four to six weeks out from the next quarter, start working on the monthly. It's going to take you a couple of weeks because you're going to get squirrel moments and shiny object syndrome. But, you know, sit down with a cup of coffee or tea, maybe go to a coffee shop, local coffee shop and sit there, whether you're physically writing things out or you take your laptop and you write on your laptop. It's also a way of doing self-care for you and your business to make sure you stay on track of your goals, because a quarter goes by super fast, and a month will go by even faster. And then before you know it, you're at the end of the year and you're like, wait, I didn't do any of my goals. But it's because you weren't staying attentive to them. 

Janet: Right. No, that's really helpful. And I noticed like, you know, your business and it's moving so fast and there's so many things I'm like, I can kind of see, you know, where these ideas are coming from because they're written down somewhere.

Erika: Yeah. And I also have an accountability partner in all of it. That is my team, of course, but you can always have a business coach or friend. I know that you're hosting that retreat with a friend. So you have some of that accountability already built in. For the first few years of my business, my accountability partner was my spouse or my parents. And it was, hey, I want to do a thing. I did a thing. We all celebrate. Yay. And we go on and do the next thing. Every time I do a finance review with my team now, I still record it and send it to my spouse and my parents so that they can celebrate my wins and achievements. And it's not just because they're my parents and they want to see me win all the time. There's a certain amount of accountability I feel there, like - hey, I've done a thing. I want to scream it from the mountaintops, but not everyone wants to hear it. So let me just send it to my inner circle. 

Janet: Yeah, no, it's important. And I think that's something I posted about recently, is like celebrating the wins, because again, I think our brains are actually wired to focus on the negative. And so we have to go out of the way to celebrate the positives.

Erika: Truly. And you have to sometimes work really, really hard to see the silver lining in something that's not a win or is considered a fail to general society, but it's reframing all of those things. And when impostor syndrome starts popping up because of some of those fails, my mantra is, hey, we said we weren't going to doubt ourselves anymore. Why are we doubting ourselves right now? Like we've helped so many people with XYZ or, hey, I know that you wanted to do this thing and you didn't, you feel bad about it, but it's because you did all these other really cool things instead and for you, you know, canceling a class or something like that isn't because no one cares about you. It could just be the time of year, time of the month, whatever, yeah, that people just couldn't make it out to.

Janet: Yeah, no, I had a student tell me that because, you know, I actually did have to cancel an event recently because of low attendance. And, you know, students were like, my mom was in the hospital that night, or like, you know, you just don't know what's going on in people's lives. And it's like taking things as a learning opportunity instead of personally, and it is what I'm working on, you know, and that's another kind of personal goal for me. 

Erika: And it's hard, but we can do it. You know, it's, it's a work in progress at all times. 

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