Are you living pay check to pay check and having a hard time making money as a yoga teacher or yoga studio owner? Do you want to stand out in a saturated market?

On this episode of the podcast, I chat with entrepreneur and author, Mike Michalowicz. Mike shares how to “pay yourself first” and become more profitable in the yoga industry. He also shares his business advice for yoga studio owners and yoga teachers who are struggling to make enough money. Finally, Mike gives you advice on how to stand out in the super saturated market that is the yoga industry, and much more.

Enjoy!

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Business Lessons

• Find your purpose, as opposed to just following your passion
• Be constantly curious
• The people who we think are our target market may not actually be our target market
• Fire your weak customers and make time for your best customers
• The toothpaste analogy – using your resources when you have them
• The most successful business are innovative
• Take your profit first so that you don’t use it up before it’s gone
• When you have less money to run your business, you make changes to your business to compensate for that
• Set up one additional bank account and take a predetermined amount every pay period to that account
• The envelope system
• Forced frugality changes our behavior
• Specialize your teaching and make yourself stand out in the market
• What makes you different from everyone else?
• Cater your offerings to the unique needs of your community
• Commit to a niche, but don’t exclude everyone else
• And much more… Here’s the episode!

Connect with Mike

• Mike Michalowicz
• The Toilet Paper Entrepreneur
• The Pumpkin Plan
• Profit First