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sensei8
KF Sensei
KF Sensei

Joined: 23 Feb 2008
Posts: 14406
Location: Houston, TX
Styles: Shindokan Saitou-ryu [Shuri-te/Okinawa-te based]

PostPosted: Wed Sep 11, 2019 5:16 pm    Post subject: Reply with quote

Rotating students in and out is a viable solution whenever landscape is scarce; That might work here, depending on you and the students. Students here are not of the cultural mindset like they are in Okinawa. Albeit, you're a solid instructor, and you should be able to get and keep your students interest across the board.

You're still under Bethea Sensei's umbrella?? If so, him visiting you, whenever his schedule permits, will peak up your students and any prospective students, as well as yourself. People seem to gravitate where someone like Bethea Sensei and his likes gather, as their visits are the stamp of approval for your school that many students look for.

If you share in paying any utilities, you should strive to negotiate the comings and goings across the board. I always renegotiate with my utilities because they can get out of hand...I use to have my trash picked up twice a week, then went to once a week...I turned off a few more lights at closing...I worked my rear off to get my light bill to be Averaged, that way the bill is the same month after month no matter how I managed them...things like that.

Your P&L Statement is your best friend; learn how to read it so that you can fix any Red Flags early. The P&L Statement gives the pulse of your business, and is quite unforgiving. P&L Statements are important because many companies are required by law to complete them. P&L Statements show businesses how to understand their net income.

If a business don't have Mission and Vision Statement, then that business shouldn't ever open. Many banks won't talk to a business unless they have a Mission and Vision Statement because having them, shows the bank that the business is properly focused.




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Wastelander
KF Sensei
KF Sensei

Joined: 18 Oct 2010
Posts: 2431
Location: Phoenix, AZ
Styles: Shorin-Ryu, Shuri-Ryu, Judo, KishimotoDi

PostPosted: Thu Sep 12, 2019 9:14 am    Post subject: Reply with quote

bushido_man96 wrote:
Do you have enough funds saved up to run the dojo sans profit for about three months? When I was in school (some years ago now, so take that for what it's worth), this was the suggested norm; being able to run your business for three months out of your own pocket, and then hopefully afterwards your profits start to take over and pay for running itself.

Congrats on starting your own dojo! You're going to do great!


Currently, no, but we will be selling our current house when we move to the town I'm starting the dojo in, which will give me that cushion, and I'm saving as much as I can, just in case. Thanks!

sensei8 wrote:
Rotating students in and out is a viable solution whenever landscape is scarce; That might work here, depending on you and the students. Students here are not of the cultural mindset like they are in Okinawa. Albeit, you're a solid instructor, and you should be able to get and keep your students interest across the board.

You're still under Bethea Sensei's umbrella?? If so, him visiting you, whenever his schedule permits, will peak up your students and any prospective students, as well as yourself. People seem to gravitate where someone like Bethea Sensei and his likes gather, as their visits are the stamp of approval for your school that many students look for.

If you share in paying any utilities, you should strive to negotiate the comings and goings across the board. I always renegotiate with my utilities because they can get out of hand...I use to have my trash picked up twice a week, then went to once a week...I turned off a few more lights at closing...I worked my rear off to get my light bill to be Averaged, that way the bill is the same month after month no matter how I managed them...things like that.

Your P&L Statement is your best friend; learn how to read it so that you can fix any Red Flags early. The P&L Statement gives the pulse of your business, and is quite unforgiving. P&L Statements are important because many companies are required by law to complete them. P&L Statements show businesses how to understand their net income.

If a business don't have Mission and Vision Statement, then that business shouldn't ever open. Many banks won't talk to a business unless they have a Mission and Vision Statement because having them, shows the bank that the business is properly focused.


To be fair, the dojo I started in rotated students up and down, and that worked fine, so I think it can work in America, as well. Every now and then I do it when I teach, already. With kids it can be challenging if you don't have well-established expectations for behavior.

I will actually not still be under his umbrella, for a variety of reasons which have caused a lot of drama and frustration. I do plan to have other instructors come and visit, though, which should hopefully accomplish the same thing.

I am not responsible for paying any utilities, directly--my share comes out of my flat rates for the space--so I shouldn't have to worry too much about that part.

As for a P&L Statement, I've never put together an "official" document for that sort of thing, but I've written up budgets and bills before, so it should be a similar idea?

I would just like to point out, as someone who has worked for a good number of corporations over the years, that Mission and Vision Statements are pretentious jokes in those environments, so it's hard for me to take them seriously . I have heard that banks insist on having them, but it just seems silly based on my experience. Of course, as a small business owned and run by just a handful of people, I suppose it makes more sense from a marketing perspective--you don't need it to keep the business on task, but it is a quick way of telling others what you do.
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Kishimoto-Di | 2014-Present | Sensei: Ulf Karlsson
Shorin-Ryu | 2010-Present: Nidan | Sensei: Richard Poage, Jeff Allred
Shuri-Ryu | 2006-2010: Sankyu | Sensei: Joey Johnston, Joe Walker
Judo | 2007-2010: Gokyu | Sensei: Joe Walker, Adrian Rivera
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bushido_man96
KF Sensei
KF Sensei

Joined: 31 Mar 2006
Posts: 27760
Location: Hays, KS
Styles: Taekwondo, Combat Hapkido, Aikido, GRACIE

PostPosted: Thu Sep 12, 2019 11:08 am    Post subject: Reply with quote

When you mention rotating students in and out, during what sessions of the class do you do this? After our basics, all students sit at the back of the class, and the lowest ranks come out first, and we do forms. They usually do the forms twice; once at the instructor's count, and once at their own count. Then that group sets and the next group comes up and does their form the same way. It's worked well for our school, and depending on how many students are in the class, it goes quicker or slower, but works out well.
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sensei8
KF Sensei
KF Sensei

Joined: 23 Feb 2008
Posts: 14406
Location: Houston, TX
Styles: Shindokan Saitou-ryu [Shuri-te/Okinawa-te based]

PostPosted: Thu Sep 12, 2019 12:11 pm    Post subject: Reply with quote

Quote:
To be fair, the dojo I started in rotated students up and down, and that worked fine, so I think it can work in America, as well. Every now and then I do it when I teach, already. With kids it can be challenging if you don't have well-established expectations for behavior.

I will actually not still be under his umbrella, for a variety of reasons which have caused a lot of drama and frustration. I do plan to have other instructors come and visit, though, which should hopefully accomplish the same thing.

I am not responsible for paying any utilities, directly--my share comes out of my flat rates for the space--so I shouldn't have to worry too much about that part.

As for a P&L Statement, I've never put together an "official" document for that sort of thing, but I've written up budgets and bills before, so it should be a similar idea?

I would just like to point out, as someone who has worked for a good number of corporations over the years, that Mission and Vision Statements are pretentious jokes in those environments, so it's hard for me to take them seriously . I have heard that banks insist on having them, but it just seems silly based on my experience. Of course, as a small business owned and run by just a handful of people, I suppose it makes more sense from a marketing perspective--you don't need it to keep the business on task, but it is a quick way of telling others what you do.

P&L is not similar to writing up budgets and bills. P&L is the financial results of ones budget as seen through ones KPI; the two vary through how they are viewed over time parameters, in which the KPI speaks at a specific point in time, whereas the P&L Statement shows revenues and expenses during a set period of time...a businesses report card.

Mission and Vision Statements are looked at through the differing microscope of how one values them, but my bank is quite strict in their insisting that one better have them if they want to conduct serious business with them.

Anything I've suggested are just that...suggestions.



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DWx
KF Sensei
KF Sensei

Joined: 17 Jan 2007
Posts: 6148
Location: UK
Styles: Tae Kwon Do & Yang family Tai Chi

PostPosted: Thu Sep 12, 2019 1:29 pm    Post subject: Reply with quote

Wastelander wrote:
As for a P&L Statement, I've never put together an "official" document for that sort of thing, but I've written up budgets and bills before, so it should be a similar idea?

Honestly just get an accountant. They can be invaluable especially when you are learning these things.

Each month track what you take in and break it down into class fees, merchandise, equipment sales etc. And likewise track what you spend. From that produce a summary of income vs outgoings.

Plenty of free templates available on the web.
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Wastelander
KF Sensei
KF Sensei

Joined: 18 Oct 2010
Posts: 2431
Location: Phoenix, AZ
Styles: Shorin-Ryu, Shuri-Ryu, Judo, KishimotoDi

PostPosted: Fri Sep 13, 2019 8:51 am    Post subject: Reply with quote

bushido_man96 wrote:
When you mention rotating students in and out, during what sessions of the class do you do this? After our basics, all students sit at the back of the class, and the lowest ranks come out first, and we do forms. They usually do the forms twice; once at the instructor's count, and once at their own count. Then that group sets and the next group comes up and does their form the same way. It's worked well for our school, and depending on how many students are in the class, it goes quicker or slower, but works out well.


Yes, that is the kind of rotation I mean

sensei8 wrote:

P&L is not similar to writing up budgets and bills. P&L is the financial results of ones budget as seen through ones KPI; the two vary through how they are viewed over time parameters, in which the KPI speaks at a specific point in time, whereas the P&L Statement shows revenues and expenses during a set period of time...a businesses report card.

Mission and Vision Statements are looked at through the differing microscope of how one values them, but my bank is quite strict in their insisting that one better have them if they want to conduct serious business with them.

Anything I've suggested are just that...suggestions.


It sure sounds like a budget combined with a checkbook, to me--tracking income and expenses broken down by line item? I'm sure it will make more sense once I have to actually start tracking it. I can put together the mission/vision statement easily enough, it's just something I hadn't really considered, given my previous experience with them.

DWx wrote:

Honestly just get an accountant. They can be invaluable especially when you are learning these things.

Each month track what you take in and break it down into class fees, merchandise, equipment sales etc. And likewise track what you spend. From that produce a summary of income vs outgoings.

Plenty of free templates available on the web.


I saw some templates looking around on Google. I have considered an accountant, but I want to make sure I can afford to pay one first, lol
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Kishimoto-Di | 2014-Present | Sensei: Ulf Karlsson
Shorin-Ryu | 2010-Present: Nidan | Sensei: Richard Poage, Jeff Allred
Shuri-Ryu | 2006-2010: Sankyu | Sensei: Joey Johnston, Joe Walker
Judo | 2007-2010: Gokyu | Sensei: Joe Walker, Adrian Rivera
My Blog: www.karateobsession.com
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