Did you know that online businesses and local businesses really aren’t that different? Today’s guest is proof, because my friend Stacy Tuschl not only operates two successful dance studios in her hometown, but she also has a super-successful online business! Business is business, and there are so many lessons Stacy shares from her journey on today’s episode of the podcast!
Did this conversation with Stacy resonate with you? I’d love to hear your feedback. Just DM me on Instagram (@heartsoulhustle) or put a screenshot in your Instagram Stories and tag me and Stacy, @stacytuschl!
Stacy has been an entrepreneur since she graduated high school and started teaching kids in her parent’s back yard. Now her business has almost 1,000 music and dance students in her two physical locations in Milwaukee, and she employs around 40 employees, while generating about 7-figures for the past 5 or 6 years.
Over the last few years Stacy started coaching local entrepreneurs who were looking for the strategies to help their businesses, and she realized she could turn it into a coaching and consulting business, especially once she learned more about the online space.
Stacy grew up in a family business, which she considers and advantage as her family understood entrepreneurship and supported her along the way.
Attending a live event in New York made her realize there were people out there already doing what she wanted to do, and they could show her how to do it while she learned from their mistakes and successes. Stacy also noticed several parallels between online and local businesses, and she recorded them so she could implement them in her dance studios.
There are several big changes happening in the online space, including Facebook ads getting more expensive, but a big part of running a business is being innovative so that you can become the true leader in your industry and overcome any challenges. To do this, Stacy is going back to the basics with her own business and asking people what they are really looking for.
She says that it is imperative that you find an amazing CPA that can strategize with you, while making sure that you understand the Profit and Loss reports for your business. Even if you’re not yet making money, you still need to know what you’re spending.
As CEOs of our businesses we need to splurge once in awhile to remind ourselves why we are in business in the first place. The business has a responsibility to pay you, the CEO!
Stacy feels that entrepreneurs need to focus on one business first and make sure it is profitable with systems in place before even considering expanding or starting a new business.
In the end, it all comes down to mindset, so treat your business like a business and not a hobby, while showing up to impress each and every day!
Profit First by Mike Michalowicz *affiliate link