Misty Lown ("the Sara Blakely of the Studio Industry") has developed a unique three-step transformation system that can help any business owner in the studio industry create revenue opportunities.
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What would you do if one day you couldn't meet with one of your clients or clients to deliver your product or service? That's virtually everyone in the face-to-face and studio industries – including dance, gymnastics, yoga-karate, pilates, spin studios, and more – that have over $ 144 billion in annual sales.
How do you stabilize and reinvent your business now or with the next pandemic and become competitive and recession-proof in the future? Every service company that relies on personal delivery, such as the studio, retail, and hospitality industries, has been decimated, resulting in over 40 million jobs lost in the US and an estimated 200 million worldwide.
The Harvard Business Review reports that 44% of US GDP comes from companies with fewer than 500 employees, which is nearly half of America's jobs. Most were not ready to turn their business around overnight.
How are you stabilizing in the studio industry so that you can not only fix this now, but stay competitive and recession-proof in the future? This is either a great business opportunity or an outright disruption.
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Misty Lown has been described as "Sara Blakely of the Studio Industry". She is a self-made mogulin who has developed a unique three step transformation system that can help any business owner in the studio industry create opportunities, leverage and not only thrive but also grow in the new economies and new business environments.
Like many others, Lown had changed her world overnight. In a matter of days, she was no longer just being successful in her physical studio environments, but was also trying to figure out how to start a new virtual business. Through this process she had an insight: we can continue to work overtime to get back into our physical business and do face-to-face courses, but we won't skip the new way of serving people on an online platform. If we can bring these two together in the right way, we will have a brand new business and a much broader market.
Lown grew up with what she loved and eventually wanted to teach and start her own studio. She is a dancer by profession and has a degree in education. So it was natural for her to incorporate her love of dance and education into a studio environment. As her profile rose, she began teaching and writing for magazines at a national circuit. People came and waited for hours to visit and experience their classes.
Back then, Lown achieved the almost impossible: a "triple victory". She and her team made a good living, had a life outside of business, and made a huge impact on children. Then she knew they had something unique – something to frame around and use their educational background to teach others.
Lown is a mother of five, an entrepreneur, and just celebrated her 20th wedding anniversary. She admits that none of this is easy. Like any successful entrepreneur, she has been on a constant roller coaster ride throughout her career. Their three tier system simplifies and maximizes life and entrepreneurship.
Misty's three tier system
Rhythm stabilizer: The first process of figuring out how to integrate all parts of your service-based business. How do you spend your time, create stability and a comfortable rhythm that moves and flows easily?
Community Optimizer: Creating a community around the business. Building a team, enthusing customers and supporting the larger community.
Value maximizer: Creating value from the actual product and business for the people we serve and who work with us. Create added value.
Lown's client Melanie Gibbs now owns three dance studios in Florida after raising her hand at a conference where Lown taught and followed her three-step process. She is living proof that if you commit to it and stick to it, the system will work.