Sunday, April 14, 2013

Day 18 – WorkStep Eight – Building a BodyChance School in LA

Just so you all know, the economics of starting BodyChance in LA is risky, and it is my money at risk. In Brett I have found the right person to bet my money on, but it is still a bet. No guarantees. So once the honeymoon ended, and it ended quite quickly for both of us, the questions are: What’s the income plan? What are the expenses? How we will market it?

You need to be asking these questions too, but if there is nothing at risk for you, it is easy to gloss over the details with “She’ll be right on the night.” But she won’t, not unless you consider practical, doable plans with numbers in them. The stakes are too high and too public for me to fumble this one through lack of planning.

BodyChance is untested in the American market. Paul, my $30k a year business mentor, coach and advisor is telling me to go slowly: test the market, do not commit too much capital at the start. So I have capped our start funds at $100k and declared: we need to find a plan that costs no more than that. When (if) BCLA gets traction in LA, I can risk more, go bigger – blah, blah, blah.

In business, they usually say: “Go fast, before the other guy takes your idea and runs with it.” Well, luckily for me that is unlikely. Alexander Technique has to be one of the toughest businesses on this planet, and no-one is beating down the door to beat me to it. It’s just too dammed hard.

BCLA is no exception, and my experience from failing in Sydney is, well, I have failed, and I can do so again. The big difference this time is Brett, but Brett is not risking his money, he is risking his own dreams by harnessing his with mine. However, I believe teams are stronger than single players in the Alexander Technique market. Brett is making a smart decision. My role is to be the cautious one, which is a real turnaround!

Who are you teaming up with? It’s a question to consider.

So my mind is going to the back-end business, as your mind needs to be doing now. I have shown you multiple models for that in Week 8 of my course. BCLA will create Teacher Education and that in turn fuels the independence and development of BodyChance in America. Of course, BC Pro needs the front end business, which is BC Basic.

Brett is BC Basic. That is already done. Brett is one of the most successful teachers in LA, and the income he is already making creates a cash flow to seed a BC Basic business. Transitioning from his current practice to the BodyChance model is a delicate operation. It is wrong to assume his current students will cross over – my experience in Tokyo is that most leave!

Our focus, and yours, must then include the back-end. You need to show the clear path as people come into your business, so my time now will be on preparing that aspect of BCLA’s business model.

What is your focus on now?

TOMORROW: WorkStep Nine – What Is The Worst Thing That Can Happen?

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