Simple Profit with Tu Le

In this episode, Tu is joined by extraordinary operator Josh Arson from Hero Martial Arts to share insights on building and sustaining a successful martial arts business. Josh opens up about his journey, including the pivotal moment after his ACL surgery when he realized the potential of his team. They discuss the importance of the right mindset, essential skills for expanding to a second location, and the significance of emotional intelligence. Timestamps:06:12 Emotional Intelligence and Leadership08:11 The Value of Self-Education13:59 The Journey of Hero Martial Arts23:56 Expanding to a Second Location24:52 Providing Opportunities for Top Employees27:39 Building a Prototype Location29:09 Achieving Rapid Growth: Reaching 200 Students in One Year34:05 Balancing Passion and Talent: The Key to Success42:11 Empowering Your Team: Stepping Back to Let Others Shine43:41 The Importance of Mentorship and CoachingWant to streamline and optimize your business? Visit us and schedule a free demo of MyStudio to see how our tools can help you achieve similar results at www.mystudio.io

Join Tu and our returning guest Zach Resnik as they discuss the importance of capturing and converting leads, and how MyStudio's Amplify's AI tool automates the process.Tu explains the importance of key metrics like student lifetime value, and calculating customer acquisition costs in order to optimize marketing efforts. Join the conversation to learn valuable tips on scaling your business!Timestamps04:49 Student Retention and Growth Analysis08:45 Marketing Strategies and Lead Conversion10:04 Automation and Amplify System15:30 Personalized Follow-Up and Best Practices18:22 The Importance of Lead Follow-Up18:50 Pricing Strategies and Membership Value21:30 Understanding Customer Acquisition Costs (CAC)23:54 Effective Marketing and Lead Conversion29:21 Handling Objections and Increasing Event ParticipationWant to streamline and optimize your business? Visit us and schedule a free demo of MyStudio to see how our tools can help you achieve similar results at www.mystudio.io

In this episode of the Simple Profit Podcast, Tu sits down with Navin Gurnaney, CEO of Code Ninjas. They explore the importance of having the right systems, people, and a commitment to excellence that allows their organization to operate 350 locations. Navin also shares his wealth of experience leading major companies like Starbucks in India and Domino's and offers valuable advice for business owners. Tune in for practical tips on how to build a million-dollar grossing business and ensure sustainable success. Timestamp: 05:41 The Importance of Systems and Processes 08:17 Code Ninjas: A Unique Approach to Learning 14:45 Managing Partner Programs and Scaling Up 24:02 Franchise Systems and Support 24:46 Code Ninjas' Commitment to Excellence 32:02 Marketing and Growth Strategies Contact Navin at  Navin@codeninjas.com Want to streamline and optimize your business? Visit us and schedule a free demo of MyStudio to see how our tools can help you achieve similar results at www.mystudio.io

Join Tu live at the Harvard Business School campus as he deep dives in the case study of CEO Jan Carlson's remarkable turnaround of Scandinavian Airlines in the 1980s: from losing $17M a year to netting $600M in just 5 short years. Timestamps: 02:10 The Birth of My Studio 03:05 Case Study: Scandinavian Airlines Turnaround 07:12 The Importance of Trust in Leadership 08:35 Effective Communication for Leaders 13:31 The Trust Triangle 15:41 Reflecting on Leadership Blind Spots Want to streamline and optimize your business? Visit us and schedule a free demo of MyStudio to see how our tools can help you achieve similar results at www.mystudio.io

Join Tu live from the Harvard Business School campus as he embarks on the Owner President's Management Program. In this episode of the Simple Profit Podcast, Tu shares insights from a captivating case study of the tragic 1994 friendly fire incident involving US military aircraft and explore its parallels with communication and leadership in business. Key takeaways revolve around setting clear expectations, communication protocols, and establishing core processes within an organization. Tune in to learn how these lessons can help you build and manage a successful business. Timestamps: 02:19 Case Study: Friendly Fire Incident 07:43 Key Takeaways and Leadership Lessons 11:49 Conclusion and Next Episode Teaser Want to streamline and optimize your business? Visit us and schedule a free demo of MyStudio to see how our tools can help you achieve similar results at www.mystudio.io

In Part 2 of this series CEO Zac Reznik briefs Tu on his latest progress since their last episode, and shares how he implemented Tu's strategy to increase Tenacity Martial Arts' revenue by 50% in just 6 weeks. Learn about event-based marketing, leveraging local PTAs, and other ways to generate leads and trials for your business. Timestamps: 03:45 Financial Challenges and Revenue Goals 11:46 Pricing and Competitive Analysis 18:48 Five Ways to Get Students 19:05 Leveraging Current Students for Referrals 20:40 Creating and Distributing VIP Cards 23:31 Gorilla Marketing Tactics 24:32 Building Relationships with PTAs 30:16 Handling Special Needs Students 33:39 Optimizing Storefront and Foot Traffic Want to streamline and optimize your business? Visit us and schedule a free demo of MyStudio to see how our tools can help you achieve similar results at www.mystudio.io

Can Tu help a new business owner grow from 20 to 100 martial art students in 12 months? Follow the journey of Zac Reznik, owner of Tenacity Martial Arts as he navigates the challenges of a new business with the help of Tu's expertise. In this episode Tu and Zac discuss everything from securing commercial real estate, managing startup costs, to lease negotiation and clever promotional tactics. Join us as we follow Zach's progress in this 12-part series that aims to transform Tenacity Martial Arts! Timestamps: 02:09 Zac's Financial and Family Background 05:04 Finding the Perfect Location 08:02 Financial Realities and Negotiations 17:02 Cutting Costs and Managing Expenses 21:52 Calculating Operating Expenses 24:16 Understanding Cash Flow and Expenses 25:20 Setting Student Enrollment Goals 26:58 Marketing Strategies for Student Enrollment 32:17 Special Events and Retention Strategies 37:11 Tracking Progress and Future Plans Want to streamline and optimize your business? Visit us and schedule a free demo of MyStudio to see how our tools can help you achieve similar results at www.mystudio.io

In this episode of the Simple Profit, Tu welcomes Mike Moh, a movie star known for portraying Bruce Lee in Quentin Tarantino's 'Once Upon a Time in Hollywood. and founder of LVLUP Martial Arts. Mike shares his journey from starting martial arts at 12 years old, to operating three successful martial arts schools in Wisconsin, and balancing a film career. Learn about Mike's business insights, and his strategic approach to expanding his business while maintaining a dual career. Timestamps: 00:32 Meet Mike Mo: Martial Artist and Film Star 01:38 Mike Mo's Martial Arts Journey 03:22 From Martial Arts to Hollywood 07:22 Landing the Role of Bruce Lee 09:53 Behind the Scenes with Quentin Tarantino 15:08 Balancing Acting and Martial Arts School 17:03 Starting a New Journey in Madison 17:41 Balancing Martial Arts and Acting 18:07 Growing the Martial Arts School 18:36 Negotiating and Expanding 19:48 Moving to a Larger Space 24:28 Rebranding and Opening New Locations 27:49 Building a Strong Team 33:00 Future Goals and Reflections Want to streamline and optimize your business? Visit us and schedule a free demo of MyStudio to see how our tools can help you achieve similar results at www.mystudio.io

In this episode of The Simple Profit Podcast, Tu reveals the transformative business decision that catapulted InCourage Martial Arts' revenue from $1.8 million to an impressive $5.4 million. Tu dives deep into overcoming an identity crisis, rebranding the business, using data to make smart decisions, revamping the curriculum, and simplifying the business model—a combination that played a key role in this remarkable success story. Timestamps: 02:19 Finding the Perfect Name: InCourage Martial Arts 04:40 Curriculum Insight: Focusing on Kids 10:11 Marketing and Studio Design Transformation 13:57 Simplifying the Business Model Want to streamline and optimize your business? Visit us and schedule a free demo of MyStudio to see how our tools can help you achieve similar results at www.mystudio.io

Navigating Business Success: From Martial Arts to Financial Fitness Join Tu as he interviews David Alvas, President and CEO of USK Karate and Founder of FinancialFitnessFocus.com. David shares his journey from training in martial arts at a young age to owning successful multi-locations. Learn about his strategies for overcoming financial hardships, building a robust team, and his approach to financial fitness that has been pivotal in his entrepreneurial journey. Timestamps: 00:24 Meet David Alvas: Martial Arts Journey 02:29 Early Beginnings in Martial Arts 04:59 From Passion to Profession 08:51 Becoming a Martial Arts School Owner 13:50 Navigating Financial Challenges 21:46 Opening a Second Location: The Initial Decision 22:05 Learning from Industry Mistakes 23:20 Building a Strong Team 24:00 The Journey to the Second Location 24:20 Overcoming Team Challenges 26:22 Choosing the Right Staff 32:00 Partnerships and Business Structure 37:44 Financial Fitness Focus: Helping Others 41:17 Key Business Advice and Final Thoughts

In this episode of the Simple Profit Podcast, host Tu Le uses the Harvard Business School's Case Study Method to explore critical decisions when expanding a business. Tu also raises important questions about readiness, risk, and leadership capabilities necessary for business expansion. Timestamps: 01:24 Meet Amanda Johnson and Her Dilemma 02:31 Evaluating the Candidates: Liam vs. Julie 04:09 The Case for Liam 06:24 The Case for Julie 10:20 The Bigger Picture: Is Amanda Ready? 11:47 Leadership and Business Processes 14:30 The Importance of an Emergency Time Fund

Join us on The Simple Profit Podcast as Tu Le unveils key insights from his transformative experience at Harvard Business School. In this episode, Tu shares how the lessons learned during his time at HBS enabled him to triple his business's net worth. Discover the unique benefits of the case study method, the enriching impact of campus life, and the invaluable diversity of perspectives he encountered in the classroom. Tu also explores how these experiences have shaped his approach to business leadership and decision-making. Timestamps: 01:41 The Power of Case Study Method at HBS 05:17 Life on the Harvard Business School Campus 07:12 Diverse Perspectives in the Classroom 09:14 Applying Harvard Lessons to Business Leadership 10:19 The Importance of Perspective in Decision Making 13:33 Teaser for Next Episode For more tools to efficiently manage your business, check out MyStudio's powerful membership management software at ⁠⁠⁠⁠www.mystudio.io⁠⁠⁠⁠.

In this engaging episode of the Simple Profit Podcast, host Tu Le welcomes Brannon Beliso, an influential entrepreneur and speaker with 35 years of experience in running and consulting businesses. Brannon, who is the owner of the multi-million-dollar One Martial Arts School, joins us to share his compelling journey from operating a DJ booth to founding and scaling a martial arts empire. His approach focuses on cultivating disruptive practices that align with the purpose and drive profitability. Learn from two entrepreneurs who have turned harsh business lessons into successful expansions. Delve into how robust systems, strong mentorship, and an empowering culture are pivotal in driving business growth. Explore the strategic decisions that shaped their business philosophies and how effective staffing and resilience played a role in navigating challenges, including operating through the pandemic. Connect with Brannon Beliso: ⁠www.BrannonBeliso.com⁠ ⁠Success Never Sleeps Podcast⁠ Timestamp: 03:41 The Turning Point: From DJ Booths to Martial Arts Dojos 07:24 A Harsh Lesson in Business and the Birth of One Martial Arts 13:22 Scaling the Business: The Journey from One to Multiple Locations 19:43 Embracing Systems and Mentorship for Business Growth 24:37 The Philosophy of Business Success and Future Aspirations 29:15 The Journey to Systemizing Everything 30:35 Expanding Beyond the First Location 33:13 The Importance of Branding and Culture 43:26 Staffing Strategies for Success 48:55 Navigating Business During the Pandemic 51:03 Reflecting on Expansion and Personal Priorities For more tools to efficiently manage your business, check out MyStudio's powerful membership management software at ⁠⁠⁠⁠www.mystudio.io⁠⁠⁠⁠.

Continuing our current series, "Millionaire Mindset of Multi-Location Operators," The Simple Profit Podcast with host Tu Le delves deep into the crucial role of resilience in the entrepreneurial journey, emphasizing its importance for building million-dollar businesses. Tu provides invaluable insights and shares personal experiences about how mastering resilience helps overcome challenges such as failure, rejection, and self-doubt, key hurdles every entrepreneur faces. Discover how resilience can transform setbacks into stepping stones towards success in this must-listen episode for any entrepreneur aiming to scale their business and personal capabilities. Timestamps: 05:04 Learning from Kindergarten: The Importance of Emotional Resilience 06:33 Handling Complexity in Business Operations 10:22 Bouncing Back: A Personal System for Overcoming Setbacks For more tools to efficiently manage your business, check out MyStudio's powerful membership management software at ⁠⁠⁠www.mystudio.io⁠⁠⁠.

In our latest series, "Millionaire Mindset of Multi-Location Operators," the Simple Profit Podcast, led by host Tu Le, delves into the key traits of successful multi-location business operators. Tu explores the strategic mindset needed for scalable success, focusing on the delicate balance between being well-prepared and seizing growth opportunities. This episode gives insight into how understanding both customer and staff demand is crucial for planned expansion. Highlighting the importance of maximizing current operations before branching out, Tu offers valuable lessons for anyone looking to grow their business. Timestamps 01:18 Getting too excited to expand 03:55 Wrong staff, right place 05:31 The Litmus Test: Customer and Staff Demand 06:36 Expansion Sign: Fully Booked Classes 06:51 Expansion Sign: Full Lobby 07:32 Expansion Sign Word of Mouth Without Ads 10:05 Staff Desire to Grow 11:05 The Thought Experiment for Expansion 15:12 Mistake: Multiplying before Maximizing For more tools to efficiently manage your business, check out MyStudio's powerful membership management software at ⁠⁠www.mystudio.io⁠⁠.

In the latest episode of The Simple Profit Podcast, host Tu Le shares a powerful cautionary tale, detailing how a single oversight in a lease renewal clause resulted in a staggering $70,000 loss. This episode, the final installment in a 3-part series, delves into the critical aspects of lease terms that every business owner should master, such as commencement dates, lengths, and renewal options. This episode is not just an exploration of lease terms; it's a vital guide for safeguarding your business against overlooked pitfalls and ensuring sustainable growth and success. Join Tu Le for this must-listen episode, filled with key insights and practical advice for any entrepreneur. Timestamps: 01:12 Understanding Lease Terms: The Foundation of Your Business01:57 The Excitement and Pitfalls of Starting a New Business03:41 The Critical Importance of Lease Commencement Date04:24 Maximizing Business Success with Strategic Lease Negotiations05:29 A Personal Story of Success: The InCourage Fairfax Case Study09:40 The Lease Renewal Oversight: A Costly Lesson15:28 Final Thoughts and Advice: Protect Your Business and Your Dreams For more tools to efficiently manage your business, check out MyStudio's powerful membership management software at ⁠www.mystudio.io⁠.

In this episode of The Simple Profit Podcast, part 2 of a 3-part series, Tu Le unfolds his journey from a $40,000 initial investment to building an $800,000 martial arts business in just five years. This episode focuses on essential aspects of commercial real estate and business growth, with Tu sharing critical strategies and insights. Tu dives deep into the significance of rent negotiations and triple net lease terms, highlighting their impact on startup and operating costs. His guidance is pivotal for entrepreneurs seeking to minimize expenses and optimize business performance. Timestamps: 03:14 The Hidden Costs of Triple Net Leases 04:39 Navigating Build-Out Costs and Landlord Negotiations 07:46 The Power of Smart Lease Terms and Build-Out Strategies 13:35 Rapid Setup and Launch: From Keys to Classes in Days For more tools to efficiently manage your business, check out MyStudio's powerful membership management software at www.mystudio.io.

In this episode of The Simple Profit Podcast, host Tu Le begins an informative three-part series on the critical importance of lease negotiations for business spaces. This series is so rich in crucial information that we've split it into three parts to ensure you grasp every valuable detail. Part 1 zooms in on understanding and negotiating the guarantee terms in rent agreements, crucial for safeguarding both your business and personal finances. Tu discusses strategies for minimizing personal liability, such as advocating for no personal guarantee terms or a limited guarantee period, to protect personal assets in the event the business fails. For more tools to efficiently manage your business, check out MyStudio's powerful membership management software at www.mystudio.io. Timestamps: 01:22 Why Lease Negotiation is Crucial for Your Business and Personal Finances 02:27 Expert Tips for Navigating Lease Negotiations 03:01 The Dangers of Personal Guarantees in Leases 05:08 Strategies for Minimizing Liability in Lease Agreements 10:26 Understanding Corporate Guarantees and Limiting Personal Exposure 11:49 Navigating the Challenges of Lease Negotiation

Dive into an inspiring episode of the Simple Profit Podcast, where Tu Le shares the incredible story of generating $1.1 million in a day through automated sales with the MyStudio platform. Discover the power of strategic automation and learn how their after school program played a crucial role in this success. In addition to these valuable insights, this episode offers an opportunity to download our after school program guide.

In this episode of The Simple Profit podcast, Tu Le reveals essential strategies for elevating your team's performance and propelling your business to new heights. Dive into insights on valuing staff, navigating raise requests, and setting impactful performance goals. Plus, get exclusive access to a special downloadable resource, tailor-made to boost your business expertise. Join us for this must-listen episode, packed with actionable tips and wisdom for dynamic business growth. Embrace these transformative strategies and lead your team to success with Tu Le. Grab the FREE resource for this episode by visiting: https://mystudio-22638569.hs-sites.com/simpleprofit-episode-six Timestamps: 01:08 Understanding Your Staff's Worth 05:29 How to Handle Raise Requests 06:29 Special Resource Announcement 08:07 Setting Performance Goals for Staff 10:15 Planning for Business Disruptions 13:57 Trimming the Fat: Making Tough Decisions To learn more about MyStudio's powerful membership management software for your business visit: ⁠⁠https://www.mystudio.io/

In this must-listen episode of The Simple Profit Podcast, Tu Le unveils his groundbreaking strategy for achieving a 50% conversion rate from free trial to full-paying members at his martial arts schools, all without relying on a sales team. Dive into how SaaS platforms, like MyStudio, revolutionized member management and business operations, leading to increased revenue, reduced churn, and streamlined processes. This episode is a treasure trove for anyone in the martial arts business or seeking insights into effective membership management. Timestamps: 01:42 The Impact of No Salesperson 02:05 The Financial Savings and Potential Uses 02:45 The Four Steps to Success 02:47 The Influence of John Bussard and Kicks Karate 05:49 The Benefits of Ongoing Renewing Memberships 13:49 The Power of Self-Checkout 15:12 The Success of the New Studio 18:00 The Importance of Mobile Accessibility 18:45 The Power of Offering Incentives 21:04 Conclusion and Final Thoughts To learn more about MyStudio's powerful membership management software for your business visit: ⁠www.mystudio.io

In this episode of the Simple Profit Podcast, host Tu Le shares the process of how one decision tripled the revenues of his martial arts businesses, the power of simplifying, and data-driven decisions. To learn more about MyStudio's powerful membership management software for your business visit: www.mystudio.io

In this episode of The Simple Profit Podcast, Tu shares the three strategies of delegation to support growing your business. He explains how to create a systematic and organized business model, hire the right people, define specific roles, and establish a clear expectation towards the outcomes of each role. Grab the FREE resource for this episode by visiting: https://mystudio-22638569.hs-sites.com/simpleprofit-episode-three To learn more about MyStudio's powerful membership management software for your business visit: ⁠www.mystudio.io⁠

In this episode of The Simple Profit Podcast, Tu shares the formulas to calculate three vital Key Performance Indicators (KPIs) to track the health of your business and how the MyStudio platform helps him keep track of KPIs: 'People Effectiveness Ratio,' 'Rent Effectiveness Ratio,' and 'Net Profit Ratio.' He also shares insights on rent negotiation, employee management, and how to tell if you're in a position to open multiple locations. Grab the FREE resource for this episode by visiting: https://mystudio-22638569.hs-sites.com/simpleprofit-episode-two To learn more about MyStudio's powerful membership management software for your business visit: ⁠www.mystudio.io⁠

Welcome to the first episode of The Simple Profit Podcast with Tu Le, founder of MyStudio & InCourage Martial Arts. Tu shares his entrepreneurial journey of building 6+ businesses averaging over a million dollars (and some much more) and the three key elements common to multimillion-dollar business operators: data focus, system-driven processes, and simplicity. To learn more about MyStudio's powerful membership management software for your business visit: ⁠www.mystudio.io⁠