What have you achieved this year as far as your karate school goes?
Have you achieved your goals?
I hope you just didn’t say to yourself, “Goals? What goals?”
Did you exceed them or fall short?
It’s this time of the year I start to think about how my karate school has performed over the last 12 months. I look at each of the following and compare it to last year (actually I do this on a monthly basis, but at this time of the year I do a yearly comparison):
- quality of teaching
- # of instructors
- # of assistant instructors
- total student count
- # of black belts
- student retention level
- effective advertising sources
- net profit
In challenging economic times, knowing your “stats” is even more important than usual. Knowing the health of your school is critical. I’m pleased to say that for each of the eight items above we improved/increased each when compared to last year despite the current economic conditions.
This tells me that we’re doing something right. But when I start to see one or more of those factors decrease, it tells me the opposite.
Knowing these stats allows you as a martial arts school owner to keep your finger on the pulse so to speak. It allows you to fix what’s not working and ramp up what is working. It allows you to stay on track.
There’s a saying, “That which is monitored increases”.
So if you don’t already know your stats, it’s time to start recording and comparing them.
Twelve months from now will you be in the same boat or will you know your stats?