Biggest Martial Arts Business Misconceptions (4 of 8)
This may be one of the biggest struggles every Taekwon-Do school owner must face as a new business owner.
Most Taekwon-Do schools are not opened with unlimited funds, a highly trained staff and 200 students ready to train and pay. They are often times opened on a very tight budget and a great deal of work from you, the owner.
In the beginning you may have limited resources and there may be many things you HAVE to do yourself.
This is great in the short-term and teaches you to be very resourceful which is a skill every small business owner needs.
The problem comes when you begin to grow and you continue to do things on your own for no other reason than “that’s the way you’ve always done it”.
As you grow, those old ways of operating will begin to hold you back.
With more students comes more classes, bigger testings, larger events and more and more to manage. It’s all completely doable, but you have to focus on working smarter, not harder. That means not doing all yourself.
The 80/20 rule is the best way to put this in perspective. It says that 80% of your success will come from 20% of your activities.
You may know this and even understand it, but chances are you are not practicing it.
I have a sign up in my office that says “Only Do Profit Work”. It keeps me focused on the activities that I am best suited for and that will actually make a difference in my Taekwon-Do business. It also makes it easy to see what things are better off delegated to someone else.
You can easily get bogged down by “busy work” that may seem important or urgent at the time but makes little difference in the success of your school. I’m sure that if you took a good, hard, hour by hour look at what you spend your time doing every day, you’ll find that there is a lot of wasted time and time spent on things you could pay someone else to do. This would free up your time to focus on the important activities and doing what you do best.
Most Taekwon-Do instructors get stuck in the rut of how they’ve always done things because it’s comfortable and what they know. Some are so worried about saving a few pennies that they waste hours upon hours doing things the hard way, actually causing them to lose money in the long run.
These pitfalls limit your ability to grow and succeed and also take great courage to move beyond.
If you think about it logically, why wouldn’t you spend the money? Whatever it is you are working on would probably get done faster and better than you could do it yourself AND you’d be freed up to spend more time on activities that will help your school grow.
You are limited only by your own thoughts and beliefs. If you’re stuck, it’s time for YOU to summon the perseverance and indomitable spirit that you teach everyday and do what it takes to step out and try something new.
About the Author:
Mr. Karstadt is the founder of 1 TKD Consulting and owns the longest running ITF Taekwon-Do school in Arizona, Karstadt Taekwon-Do in Phoenix, AZ with his father Master David Karstadt. He has been training since 1984, earned his Black Belt at the age of 8 and is currently an internationally renown intstructor teaching the culture, discipline, leadership and business skills of Taekwon-Do in classes and seminars to Instructors around the world. He has been a member of eight U.S. Taekwon-Do Teams and has traveled to 14 different countries competing in Taekwon-Do. He has won numerous medals at the World Championships and in international competition, most notably winning the 2004 World Championships in South Korea with two gold medals and the Men’s Team All Around Trophy. Mr. Karstadt currently resides in uptown Phoenix, Arizona with his wife and three children. Mr. Karstadt can be contacted by e-mail at email@example.com