If you look at the newspaper or watch CNN you will hear all about the wows of various big businesses as they struggle to survive. Are you shocked at the current problems? I've been expecting it for years.
First what goes up must come down and vica versa. Things will improve. But more importantly how do you keep your business from becoming one of these statistics.
Number 1 - Keep Statistics!
Many martial arts school owners are white belts when it comes to business. They do things because tradition states you follow in your instructors footsteps. Is he bankrupt?
Keep statistics, things like the number of info call vs enrollments. What percentage is your rent vs your gross income? What percentage is your payroll? Remember you are in business to make a net profit.
These big companies and financial institutions are failing because they are mis-managed, or in better terms run by MORONS.
You can learn more about keeping statistics at the Martial Arts Marketing Canada website. In the meantime, stay tuned and keep focus, analyze and learn from your stats. Finally make your student service the best in your town or city. You will then prosper!
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