This course that you are currently taking is created in the LMS (Learning Management System) called Learndash. In this video I will walk you through the course creation process. For those of you that have a WordPress site this makes the most sense for you to implement – it is the best LMS on WordPress. That said some of you may want to get a WordPress site JUST for online courses. This is common practice – lets say your website is one square space and its called “www.theyogimatt.com”, your course website could be held on WordPress under what is called a subdomain “courses.theyogimatt.com”. This is a very beneficial way to host courses – separate websites will allow you to keep your home page running fast and smooth without you having to purchase very expensive web hosting. My website will eventually switch over to this format, everything will be purchased on “courses.theyogimatt.com” which currently does not exist, and my blogs and home page will stay the same. This is something you could hire someone to easily implement should you decide to do, but its as simple as making one of the menu items on your main website be something like “courses”
Some of yo0u will choose to integrate a second website using an LMS like Kajabi – if so please use that link (Rebecca, my wife will receive a referral if you decide to sign up wit them. Kajabi and other LMS dedicated websites often have the option to host your website directly with them, however I wouldn’t recommend it as it can be difficult to migrate away from these sites should you ever want to have a custom built site with more functionality and freedom. That said Kajabi and other LMS sites are EXPENSIVE so it may only be worth it if you are using their full features.
Jason Nemer: Co-Founder of ACROYOGA International.
Jason Nemer was one of my first teachers, and in more ways than one he played a huge part in bringing me to where I am today. First, I had been practicing yoga for some time on Long Island when I came across what I thought looked like some strange yoga practice in a park in Manhattan. I was there on a job, at that time I had been an apprentice as a sand sculpture and I had asked my boss if I could take a quick break to ask this people what they were doing. I walked over and said “Hey is this yoga?”. Andy, and Billie, paused their practice to tell me “this is called Acroyoga, do you want to try?”. Billie “flew” me for the first time and I fell in love with the practice. I asked where I could learn more. The next day I made my way back to the city to take my first class. I instantly felt at home! I found my people, loving, kind, weird, playful, supportive, etc. I kept returning to Manhattan to practice and get to know my new friends. It wasn’t long before the momentum of my life shifted. It was an Acroyoga teacher, Mary Aranas who invited me to assist her restorative class at Pure Yoga in Manhattan, and it was this studio where I found my first mentor, Marco Rojas – A story for another day. To but it short, Marco gave me the space to learn and grow as a young teacher, and shortly after I became a full time yoga teacher at Pure Yoga – the youngest, and the least experienced, teaching amongst veteran yoga teachers….I had to step up my game and I had to do it fast.
Eventually Jason Nemer, and Jenny Sauer-Klein came to Manhattan and taught a workshop, and shortly thereafter I was traveling internationally to study with them. In 2010 I became a certified AcroYoga teacher, one of 50 in the whole world. 3 Defining moments that were all pivotal in my expansion.
In 2011 I was invited to Wanderlust Festival & the Anusara Grand Gathering: I was asked to show people how to do AcroYoga and literally “play” around with my fellow acroyogi’s to create a fun environment. In exchange we would get passes to all Anusara classes and Wanderlust Festival. While playing, MC Yogi walked by and asked my Acro partner Chelsey Korus and I to perform with him on stage that night. This grabbed the attention the founders of Wanderlust. They asked Chelsey and I if we would teach classes the following year – A HUGE Honor to be teaching amongst arguably the worlds best teachers. We did the absolute best we could and were asked to return for the full tour for the next 4 years in a row. While AcroYoga performances and classes remained part of my duties, I begged and pleaded, and successfully was granted more and more regular classes, until I eventually became one of the headliners of the festival.
In 2012 I attended an Acroyoga training where I met a friend named Daniel Scott. in 2013 (I think) Daniel was double booked for a wanderlust festival in NZ, and a yoga conference in Austria. He really wanted to go to NZ, and asked if I would cover his classes in Austria. I reluctantly agreed, as I didn’t want to leave my classes in NYC that were bringing me steady income. Daniel needed someone that could teach Acroyoga, Thai Massage, and Yoga and since I was recently close friends with him I wanted to support him. This trip is where I met my now best friend Young Ho Kim – founder of Inside Flow, TINT Yoga, and Inside Yoga Studio. Young Ho Helped me establish a career in Europe that became my second home for the next 6 years.
In 2012 at the same training, my teacher Jason Nemer told us that we should teach Handstand workshops. Prior to that time I hadn’t really offered workshops, because the one time I did it was a flop – only a few people showed, and I made less money than just teaching a class. I decided to give it a shot one more time, given his encouragement. In the spring season of 2012 I taught my first Handstand Workshop to 30 people, a big success. Next month I taught a second workshop to 55 people, the following month 65 people (sold out). I continued monthly workshops, eventually expanding on Handstand, to offer arm balances, hip openers, shoulders etc.
I have studied from, assisted, and co-taught with Jason Nemer for the last 12+ years (depending on when you read this). It is an absolute honor to have him here with us sharing the highs and lows of his journey, many of which I had not previously been aware of. Jason has a new book coming out this year which I am thrilled and excited to read! Check out “Move, Connect, Play”
WOW! Ribbon truly offers so much for yoga teachers. When they first reached out I took a look at their site and what they were offering and I was both super excited and sad that it hadn’t already existed when the pandemic hit. THIS is the tool I wish I could have recommended to all yoga teachers as they were swimming around in March 2020 trying to figure out how to bring their business online. Ribbon is not only an online membership platform that allows you to sell all access or select access subscriptions like Netflix, GLO, GAIA, and TINT, but it ALSO lets you schedule and sell your zoom classes as well. OH WAIT THAT’S not all, it also brings you in person functionality as well, you can schedule in your in person, zoom, YouTube lives, retreats, etc. all in one place. Your students have one spot to purchase everything from you! WAIT one more thing – Ribbon also gives you free UNLIMITED video storage – this is mind bending – even the inexpensive options like Vimeo pro has a cap on how many videos you can upload per month, and you will. quickly hit that ceiling. ONE more thing, I promise this is the last one – Ribbon also has “drip content” course options now. You can sell video driven online courses. “Drip” means you can control when your students get access to certain videos. For example in this course, you get access to each video upon completion of the previous video. This is content dripping.
RIBBON IS FREE TO SIGN UP AND USE. YOU NEVER HAVE TO PAY FOR IT IF YOU DON’T SELL ANYTHING. In addition should you decide to implement Ribbon, you will have a choice to pay transaction fees, or pay set monthly fees, and the fees are hands down the most fair that I have seen for what they offer. Competitors with less functionality START at $100/month, Ribbon’s highest tier is $60 month. SIGN UP BELOW AND LET’S GET STARTED
Action is required to build a business, but not all actions require you to do them. Knowing what actions are necessary and when to take them is imperative, but in all honesty figuring out what is the right action for you is more trial and error than anything else. Most people only want to take action if they know that the action is the right one – but unfortunately you cannot and will not know until after the action has been taken. This is the art, the frustration, the beauty, and the pain of building a business. There will be a collection of action steps that become part of your daily routine, some of which are best carried out by you, and others are better suited toward someone else. For example if you have no prior knowledge about video editing, you have a choice: learn how to edit, or hire someone to do it for you. It is my personal opinion that we should learn to do everything ourselves first, at least to a degree that we understand the value of having someone else do it for us. We will also be able to direct someone else better if we have understanding of what we are hiring them for.
On the other hand some ideas are better suited for partnerships and bigger teams, in which case you will likely assemble a group of people who’s skillsets compliment one another. This is a bit more advanced as it requires more legal agreements. This is not an area of personal expertise so I will not be going into the details of starting companies with multiple founders, but I wanted to make mention because there are other ways of building businesses.
One day while scrolling through Instagram I stopped on Kyle’s Handstand add and was very impressed. Especially at that time, I hadn’t known any yogis that were running paid advertisements, and so Kyle’s caught my eye, and ear. I reached out to him on social media and shortly there after we began a friendship. Kyle is constantly inspiring me in so many ways. He is an expert in the field of marketing, a world renowned handstand coach, and a sweet heart of a guy. It is my please to share this informative and educational discussion with you
Connect with Kyle on Instagram and Tiktok @Kyleweiger
When you get to canva you will see the option to sign up for pro accounts with a free trial – If you want full access to canva than this is the way to go. If you just want the free option – look to the top right of the screen and click “Sign Up”.
Retreats – I missed this one on the video, my apologies. This is an excellent way to offer an experience for your students. I suggest going on retreats first prior to leading one, there are many moving parts and skills to be gained such as managing expectations and emotions when people are in a new location, with new people, and different food and schedule than they are used to. Watch your teacher, note what they do that is successful and not what mistakes they make so you don’t make the same.
Write a Book
Content Creator (write blogs, edit video, info graphics, website designer)
Brand and Marketing for Teachers or Businesses
Create an online platform
Challenge: Create/Map Out your In Person or “other” Offering
What is the format
What is your bigger vision for you business – this could include your core values, morals, definition of success, what matters to you
What is one small offering that you could create that is in direct alignment with your passion/business
Come up with a title
Lay out the details – how many hours/days/pages will it be?
Who would benefit from this offering?
Where would it take place? (if applicable)
How many people would/could attend or purchase or be a part of this?
IF you decide that your offering with in the yoga world could be freelancing (designer, writer, content creator, virtual assistant, editor, etc.) Than I suggest you get started by creating an account as a seller on Click Here to Become a Seller on Fiverr
MailerLite Introduction for Momentum and Connection
The best way to establish connection with your audience is through email. Regardless if you met them in person or they found you online, staying connected through email automation is imperative for further engagement. Most people over emphasize social media for this which is backwards. Social Media should be used as a way of getting people to your newsletter. People rarely purchase directly from social media since they are there to scroll. With email we are more likely to engage, respond and interact for this is the purpose of email.
Email automation is what will create momentum without you having to always show up and send emails. With Automations you can create all your emails ahead of time and schedule them to go out incrementally over time. This not only creates momentum with less effort but it establishes an expectation that you will be routinely connecting with the subscriber – they will be ready and waiting for your email.
Through email you can add value to the lives of your subscribers by providing free content such as blogs, stories, videos that enhance their understanding of their body, mind, breath etc. (whatever your passion is). When the time comes to offer them something to purchase, they will be ready and waiting, they now have been connected, built a trust in you and what you offer, and are happy to dive deeper with you.
EMAIL CONVERSATION & MARKETING
Lead Magnet: Something Enticing that people get when they provide their email address
Workflow: A series of emails that is automatically sent after person becomes subscriber
Sell: the product that relates to the lead magnet (preferably)
We will further this discussion on Lead Magnet and automation in another lesson
Burning out on business and social media is so easy to do, but it is completely avoidable. Momentum can be built by implementing a few simple things. A Lead Magnet is something that is provided for free (monetarily speaking) in exchange for someone contact information (typically email, but sometimes phone number). Once someone agrees that this is a fair exchange, they need a way of signing up – for this we use forms in Mailer Lite or any other email marketing software. My suggestion is Mailer Lite because their forms are simple, look great, easy to create and easy to embed into your website. Once someone puts their name and email into an “opt-in form” they are then placed into a “group” in mailer lite, and are now AUTOMATICALLY sent an email. Of course for all this to happen automatically you will need to set up the following in the backend of mailer lite
Create a group in Mailer Lite or your email marketing
Create an Opt-in Form – select the option to add subscribers to the group you created
Create an “Automation” with a “trigger” – the trigger should be set to begin “when subscriber joins group: *group you created
Create your first email that automatically sends immediately after subscriber joins the group – email should include a link to the lead magnet content so that the subscriber can now access it.
How to come up with your Lead Magnet?
This can be challenging at first, but typically your lead magnet is what comes very natural and easy to you, and all you really need is a catch title that entices other people that haven’t practiced with you before to want what you are offering. The format can be video, pdf, workbook, mp3, webinar, access to a private Facebook group, access to a free zoom class ETC. I suggest having at least one lead magnet that doesn’t require your constant participation, something pre-recorded or pre-created that can be completely automated. In addition you can run pop up lead magnet events. So for now, start with something pre-recorded.
I know a lot of teachers say “I don’t teach anything unique or different”, or “somebody else already does what I do”. Remember you aren’t in competition with anyone here – no one is shopping around for who has the best lead magnet and then deciding on the one that best suits them. Lead magnets are free and so the reality is that if you are offering a similar practice to someone else, then their students are actually MORE likely to enjoy what you have to offer EVEN IF you “aren’t as qualified, unique, original” or whatever else the ego tells you. Your only competition is yourself. Create a lead magnet by sharing what you love, find a title for it, get it out there, and let everyone else decide for theme selves whether or no you are the teacher for them, because truth be told only they will know.
Membership Based: Customer pay monthly for Access to an “on demand” video library
Online Programs: A collection of videos that aims to deliver a targeted result. “Results” vary based on your authentic vision and core values
Online Course: Creating a progressive learning atmosphere with a curriculum, typically includes video, written content and quizzing.
Live streaming: Events that happen in real time: classes, workshops, trainings etc.
Coaching/Mentoring/Meetings: one on one, or group meetings in real time – typically face to face through platforms like zoom. However there are other ways aside from video, some people use audio.
Webinar Based: Popular amongst public speakers and leaders with a large audience, this can be done inside of webinar software, Facebook, YouTube live – when a presenter is utilizing video and students have a text based chat.
CHALLENGE: Map out your online offering!
Choose a platform that seems accessible to you or something that you are already familiar with
Choose a subject under the umbrella of your vision. GET DETAILED and SPECIFIC
If its a course, how many lessons? If its a program, how many days? If its a membership, how many videos?
What is the cost for customer?
Who would. Benefit from this? If the answer is everyone, than it is too broad and it will capture no ones interest. KEEP IT SPECIFIC.
Regardless of your intention for sharing the practice of yoga, or your goals as a business, the process of connection is always the same. There are a number of human beings out there in the world that want what you have to offer, and they want it specifically delivered in the way that you deliver it. However the problem is that most of these people have no idea who you are and therefor have no idea how they can find you. This is the challenge that all leaders, and businesses face.
There are many methods we can use to get connected to those looking for what we have to offer, some of which includes paid advertising, or grassroots word of mouth. Other methods include organic social media, website, or blog posts and the use of hashtags and key words so that people searching fro something specific may be able to find you. Having a platform like teaching at a gym, festival, event where people attend your class as part of a membership, or perk for attending can be a great way to reach people that wouldn’t otherwise know who you are.
If you are truly aligned with your vision you will find yourself in front of the right people, but its not enough to be exposed to an audience. You have to find a way to continue engaging with the select few within that audience who want to stay connected. Further more you have to engage with them right away or they will slowly forget about the experience that they had and loved – this is the nature of humanity, time heals all wounds and also allows us to forget most experiences.
Use this chart as a guide for your actions so that you aren’t continuously loosing connection with your prospective customers, students, charity donors etc. For the most part customers know that you aren’t going to be their friend, chatting on the phone on a nightly basis, but they do want to hear from you in some way – Newsletter automations, and social media posts are an excellent way to engage and share with them.
Admittedly I had no idea who Jill Miller was in 2009 when I heard that she was coming to teach at the studio I worked at. The management at the studio chose me for a scholarship spot to attend her training – they knew I was completely broke but they saw my potential and felt like I would be a great fit for what Jill had to offer with Yoga Tune Up. I went on Jills website, and I was instantly turned off by it because it rather than the standard yoga teacher website at that time which consisted mainly of a bio, photos and schedule, Jill’s site was packed with actionable steps – you could watch videos for free or purchase dvd’s, packages, products etc. At that time I was very anti-marketing, anti consumerism, I thought money was the devil and the root of all unhappiness. It wasn’t until some years later that I confronted my relationship with money. In any case I agreed to do the training, and figured I would get something out of it.
I was right I definitely got something out of it, I got way more than I could ever imagined. The training was one of the most transformative experiences to date, it not only changed my yoga practice and knowledge of anatomy, but it shaped my mindset about the physical practice of yoga all together. I began seeing the body instead of the pose. Jill taught me to get curious and creative. She gave me permission to go outside the box of asana and find ways to support yogis in their development of health rather than their attainment of shapes.
Beyond the physical practice, Jill’s business structure, and creative marketing and branding opened my eyes to another way. Maybe I didn’t have to starve in order to be a yoga teacher. Maybe there were other approaches to spreading the word about what I was doing. Jill helped kick start my career by serving as an example. I am extremely honored that she has agreed to share some time with us here so we can gain some insight into how she built Yoga Tune Up and The Roll Model!
I can personally attest to the Rolling Along the Anatomy Trains course, I am a student within this course and I love what Jill and Tom have put together, it is knowledge driven and provides you with the practices to integrate the information directly into your system. Whether you want to just feel amazing or you want to learn Facial based Anatomy this is an excellent course!
As a leader and a business we now know the importance of providing steady predictability, and consistency or what I call “Earth”. There are many ways of doing this such as brand colors, logo, having a brand message and/or clear intention that is apparent to anyone getting to know you or your brand. Social media presence is a great way to produce consistent content that aligns with you brand message or intention. The goal of this consistency is sustainability. Showing up on social media with consistent content, quality, messaging requires tremendous time and energetic and/or financial resources. To make this sustainable it needs to lead to spreading brand awareness, and ideally financial return – even if that financial return is meant to be invested into your future, or donated to a cause. Developing a huge following is great, but if that following just brings you popularity you will likely be resentful because the exchange won’t be fulfilling – it takes more effort than you may think. Finding a way to turn the output of effort into input of fulfillment be it financial or otherwise is the next step and phase of building your business. Like everything in nature, you only have so much output available, eventually input is necessary in order to sustain your efforts.
Slogan or Message
How you show up on social media or platform of exposure
The Following services are my top recommendations, I use each of these personally in some way or another. I have contacted each of the companies and requested affiliate links – this means the companies will provide a certain percentage back to me for my referral. NONE of these companies approached me, these are simply services that I use or my wife Rebecca uses that we find are the best of the best and we are sharing them with you. If you do not wish to support us than you can always go directly to the websites and we will not receive a referral fee. Affiliate marketing is something I will explain in detail later on in this course – how you can leverage the power of your community and pay them to spread the word about your online or in person offerings. This is a paid yet completely organic form of promotion – it serves everyone who is involved. Most recommendations on the internet are affiliate links.
Here is a complete list of links which you may copy and paste into a document for yourself if you’d like. They will be explained in detail for you as the course goes along. Ahead of time, if you choose to use the links I am very grateful for your continued support!
RIBBON: On demand video library/membership, ZOOM integration, Video Rental’s, and UNLIMITED VIDEO STORAGE! I am building out a membership based site using Ribbon because its an all in one service designed specifically for yoga teachers. If you are on zoom and/or want to start a monthly subscription plan now or in the future this Is the best platform. I WISH THIS company was up and running at the start of the pandemic it would have made life so much easier for all yoga teacher trying to figure out how to find their way. This platform keeps track of all your customers, and their payments. The fact that they offer unlimited video storage for you is already a huge benefit – normally this is a minimum of $25/month for a limited amount of video. Ribbon will support you with any required customizations – they are very personal and have great customer service. They have a new option for courses as well but at the time that I am writing this its still new and basic.
LearnDash: you are currently taking this course on LearnDash – which is absolutely THE BEST course software for WordPress. It’s versatility is unmatched to any other course software on the internet. If you are already on WordPress for your website, or plan to build your website on WordPress then this is the way to go. There are plenty of people that can help build your learndash site – use the link to fiverr below for freelance hires. LearnDash is the least expensive of the high quality course software’s out there. It has all the capabilities as something Like Kajabi when it comes to courses. The only draw back is that you need a WordPress website which may or may not be something you are interested in.
MailerLite: The best newsletter/email marketing service. From the ease of use, versatility and functionality I have been so delighted to be using Mailerlite. Ive tried many of the leading email marketing services and none of them were as capable and easy to use as mailerlite, and they all cost about 4-5 times more money! It was so worth switching away from mailchimp
Kajabi: All in one course creation and website. Kajabi is great for online courses and is very easy to use for the most part. Rebecca uses Kajabi and loves it, but full disclosure she still has a website on a different platform and uses MailerLite for her newsletter since Kajabi is limited. So I don’t suggest this for “all in one” but rather its a higher end course creation service. If online courses is for you, and you don’t have WordPress than this is a great way to go.
Fiverr: Hire freelancer’s to build your website, create your logo, create or manage your social media, write your blogs and so much more! This is the best website for any yoga teacher or entrepreneur looking to hire others for things that you don’t want to or don’t know how to do yourself.
Elegant Themes: If you are on WordPress or plan to be on WordPress for your site, than you will want a great page builder to make your life easier and to make your website look way better. Divi by Elegant Themes is the easiest page builder that will save you time – they have excellent templates that are completely customizable with little to no expertise needed. They make WordPress websites feel like a breeze and they will make you look like a masterful web designer.
Canva: This is the best free (or paid service if you wish) for graphic design. You can hire someone on Fiverr above to create templates for you, or you can use templates that canvas provides. You dont need to be a graphic designer, canvas is the best for helping you create professional, stunning images and infographics for your website or social media channels. Everything on theyogimatt.com is created on canva by me personally. You may or may not like my artistry so dont judge canva by my choices, just try it for yourself:
Please use the provided link, I will receive a small referral payment from Fiverr at no additional cost to you. I use fiverr on a regular basis to hire freelancers, my logo designer, animated logo, web assistant, some of my content repurposing videos and so much more were all found on Fiverr.
When I transitioned to teaching yoga full time, I was delighted to make my way out of being flat broke to making $35/hour, and working a few hours a day. But quickly into my teaching career I realized being a yoga teacher is not like any other job – it takes an hour before and after I teach – so it’s closer to $10/hour. Even teaching online to this day, If I am teaching at 12, the preliminary work takes at least 2 hours – I start at 10, sending out emails, setting up the website in the back end, setting cameras and lighting, testing, changing clothes, answer that question, someone doesn’t have access, the internet is out….etc. Sound familiar Zoom warriors? Or how about the amount of time it takes to promote the event, make the graphic on canvas, post to social media, send out an email, create the purchase option on the website, make sure the button works, etc. Teach private yoga? How long does it take to get there, when do you start preparing.
Ok I think I have made myself clear?
What about this? You make enough money to pay your bills and eat the food you want to eat, spend the bare minimum on health insurance, don’t have workers compensation or life insurance etc.? With me? Do you have a retirement fund and contribute to this monthly?
Now many of you from the corporate world might have established these practices and your minimum expenses are higher than someone that started their professional career and lives a “simple” yogic lifestyle. What you don’t read about in the yogic texts is that the yogis that lived simply were also beggars – they lived on donated food and money and often did not have families or renounced them.
Simplicity is more complex than we would like it to be.
When I started my career as a yoga teacher I got by with 3 tank tops, a pair of shorts, one pair of jeans, a sweatshirt and a jacket. No place to live, and just enough savings to budget for $5/day of food. I was living the simple lifestyle, but my body was deteriorating, and I was counting on friends and their generosity. I remember my friend/teacher Chris would see me and take me out to dinner just so she would feel better that I ate. She knew I couldn’t pay to go out to eat. I don’t regret that time, and I was young enough to be able to do it without serious damage to my body (I hope). BUT times like these need to be temporary and should not be the norm for people that are doing the work to help others feel better physically, mentally, or emotionally.
I once was asked if yoga teacher should make money? I responded with a rhetorical question: Should someone that helps others connect to their own well being and feel better in their body make less money than someone who is a CEO of a company that sells highly cancerous, and addictive products like Cocoa Cola? Maybe we have it backwards?
Point being, you deserve to be paid appropriately for what you do, but beyond that you need to check in with your minimum.
7 Years ago, my brother asked me for a book recommendation, he was beginning a path toward awakening to his new reality – becoming self aware. I suggested Wisdom of the Peaceful Warrior by Dan Millman. He read it immediately, loved it and felt like he wanted to support me in return. He handed me the book called Money, Master The Game by Tony Robbins. I wanted to VOMIT on the book. Thinking “he doesn’t get it”. Some part of me knew that if this made me uncomfortable then there is likely something here FOR me.
I started reading it. The first section bored the living daylights out of me, save money, donate money blah blah blah. BUT it was sinking in on some level. I got out of the car one day in Manhattan after driving down from Connecticut – someone stopped me and asked if I would sponsor a child “it’s only $30/month”. For me at that time, this was a lot of money, but something Tony Robbins said in that book was don’t wait till you have money to donate – the practice of donating needs to start now, this way when you have money, you will be in the habit already of donating. He said the same thing about saving money, but Donating presented it self first. For 7 years I have been sponsoring this child who is probably old enough now to support himself but I feel called to keep sponsoring him. This was a huge leap in my relationship to money, I began to see it as something that could bring goodness into the world rather than just darkness of greed.
Next: retirement saving….BARF. I got an accountant for the first time to do my taxes and he said if you put $X amount of money into retirement you don’t have to pay the taxes on it now. WHAT? REALLY? I began a retirement fund – moving my money from one account to another, and instead of giving the government a large percentage of it, I just kept it and have been receiving money in return in the form of interest ever since.
ACTIONS around money started to unlock the part of me that was so resistant to it. What I began realizing was that I really didn’t understand money, or how it worked, and as a result I was scared of it. I associated emotional and mental qualities with money, which is absurd because money doesn’t have a mind, emotions, or opinions its simply a representation of time and/or effort in another form.
What do I mean by that?
If money didn’t exist we would barter or trade things or services of equal value. But what if I didn’t have a thing or service that you wanted? I would have to go to someone else and trade with them something that I had for the thing that you wanted, then come back to you. But what if I needed to trade with several people until I could get the thing you wanted. This is where money just makes sense. In exchange for our goods or services we receive a common currency for which we can then trade with others. It’s quite amazing actually.
People are complex, but money is simple. People have done terrible things for or with money, but money has no action, it just is.
With this understanding, you can begin developing awareness around what meaning you have attached to it. We believe it to be true and it’s very triggering because for many of us it touches on either safety or the right to freedom. What does money mean to you? What emotion do you assign to it?
THE MINIMUM IS NOT ENOUGH
The book Money: Master The Game takes a sharp 90 degree turn about midway through and starts discussing Awareness and the practices of self inquiry…actually it’s mind blowing at times. I wondered why it didn’t start with that but then I realized, I am not his target audience. He is dealing with money driven people that needed the actionable steps, and he slowly transitions to a deeper message.
Here was a massive take away that helped me shift by idea of “Enough Income”. Prior to reading this book I never thought about retirement – no one teaches you to do that because for many people that have corporate jobs the company they work for pays into your retirement. But we are now living in a entrepreneurial age where many of us work for ourselves, and so retiring means no money at all – maybe some very very small amount of social security in the U.S. but for the most part you are on your own, unless you have kids that are going to be paying your way, or someone else who is saving for you.
I sat down one day to see what I would need for my retirement if I retired at 80 years old. While I hope to teach yoga forever, I can’t count on my physical and mental faculties to be all there. So if I plan to retire at 80, knowing my grandparents passed around 98 years old, I can expect to live to 100 if all goes well! If not then I have money I can donate or pass along to family woohoo! I calculated on the safe side during retirement that I would need 100k per year for 20 years, but that didn’t include inflation – using an inflation calculator it wound up being more like 140k/year for 20 years. That mean I need to save 2.8 Million Dollars by the time I reach 80 years old!! If you are making a million per year than no biggie, but on most yoga teachers salaries it seems impossible right??
That would mean saving about 70,000 per year for me for the duration of 40 years…70k MORE than what I make would need to be saved. INSANE.
How did I calculate 100k per year would be necessary: there are many ways to do this – see what you currently spend per year – if you make 60k, and have no money saved at the end of the year than your cost of living is 60k. That might work as a healthy young adult, but not when you have medical bills, a live in aid, medications, amongst many other things like living arrangements and so on. I used averages for American’s expenses in retirement, and then I added a full time aid to be safe in order to come to 100k per year.
Sorry if the details are boring!
LETS GET TO THE EXCITING PART.
To save 70k per year you have 2 options – keep it in your bank account and dont touch it – likely not to work but thats besides the point.
IF on the other hand you invest your money monthly you will likely only need to save about 12-15k per year to end up with 2.8 million. THAT’S right, investing your money, you only need to save 12-15k per year to end up with at 2.8 million, where as if you just put it in the bank you need to save 70k per year.
SO, which do you prefer, saving 12k per year and winding up with 2.8 million, or saving 75k per year and ending up with the same?
I HOPE THE ANSWER IS OBVIOUS!
SAVE LESS, MAKE MORE BY INVESTING.
Now I am not a financial advisor, so I am not here to tell you what to do with your money, but I do recommend seeking out someone either at your local bank or go off a recommendation from a friend. I started investing with Citibank but moved my money to Opal Wealth Management which is my brothers firm. Not everyone has a brother who owns a financial firm, but to be straight honest you don’t need one, you just need to set up the right systems.
WHY AM I TELLING YOU ALL THIS?
To many people, especially those with money, it’s just a game. No one educates the masses on money and simple money management concepts because it doesn’t serve them for you to understand it. The other reason is most of us wouldn’t listen even if education was being shoved in our face. My brother shoved it in my face for a long time, and because of my relationship to money, I JUST DIDN’T LISTEN. He was literally trying to show me the secrets to make my life easier but I was too stubborn to learn.
THANKFULLY, my brother passed me that book, and I was able to shift my mindset and start saving for my future.
Things to consider when you set your prices for you events, workshops, online courses, trainings etc is not just the minimum compensation – consider your future and what you need to save each month for your retirement, and charity. Not to mention saving up for something that can bring you long term enjoyment such as a home, animal, children, etc.
ON A FINAL NOTE – FREE TEACHING OR SERVICES
Money isn’t the only currency, and you may still accept exchanges that fulfill some other need for you. For example, while I have paid financially for many teacher trainings, my primary education is really in the time I spent assisting my teachers Marco, Rudrani, John, Mary, Chris, Jason, Jenny. What I learned from assisting them was worth far more than any training I paid for, and yet I didn’t pay a dime except for my time and effort. On the other hand they didn’t receive anything financially to educate me, but me being there meant that the class, workshop, retreat or training experience was better because I put my full effort into being of support.
Another example that may be more relevant to you is teaching for free in exchange for exposure. I can’t tell you how many events I have taught that didn’t pay me anything, often times I spent money to get there. I considered these events an investment to my future. Some of you reading may not realize that the event you first practiced with me was one in which I wasn’t paid for but I was investing my time.
Last example that will likely be very relevant. For the last 8 years I have been creating online educational content in the form of instagram, YouTube, and blog posts. I freely give this content away, no one pays me to offer it. If you only knew how many days some of my YouTube content took to create, not to mention the money for equipment, and the time it took facing my own inner resistance. THIS TIME was an investment, one in which didn’t amount to much until the 6th, 7th and mostly the 8th year to be straight honest. I had no idea why I was creating the content and putting so much effort in, I just knew it was an investment in my future that I couldn’t see just yet.
You will have many times where you will invest in your future, and for sure teach for free to give back to the world as well. Not everything is worth your time and effort, and you will learn quickly what you SHOULD just say no to, and what is truly an opportunity. Opportunities tend to be mutually beneficial. Someone benefits from your free offering, and you benefit from exposure or gaining of a skillset, learning or whatever else.
Young Ho Kim, founder of Inside Yoga, Inside Flow, Inside Style, and Tint Yoga, is one of Europe’s top yoga teachers. He is not only known for his teaching but also for his entrepreneurial skills to bring yoga to the masses world wide while staying true to his authentic expression of it. His generosity to support other yoga teachers is one of the most inspiring traits I have seen in any yoga teacher around the world. Yes many teachers are generous with their time, almost all of us are, and many of us lead fund raisers and do events to raise money or awareness. But what is fascinating about Young Ho is that he goes beyond that, he finds ways to creatively provide deserving teachers a platform to amplify their teaching and their message. Anyone that crosses paths with Young Ho has a similar story about how he has provided them with one opportunity or another in order to bring them to where they are today. I personally consider Young Ho family as he has acted like a brother to me, and at the same time he has been a mentor and a guide. It is an honor to share this connection with you all in this course.
How to Connect with Young Ho Kim
Social Media: @InsideYogaofficial is his personal instagram account.