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The Connected Yoga Teacher Podcast

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Now displaying: February, 2019
Feb 25, 2019

The Connected Yoga Teacher Podcast

105: Insurance for Yoga Teachers with Beth McVeigh

 

Description:

 

As a yoga teacher or yoga studio owner, do you have insurance that protects you if a lawsuit arises? How much coverage is enough? Beth McVeigh, a specialist in liability insurance for yoga instructors and yoga studio owners, joins Shannon in the last episode of the 5-part mini-series, Yoga Studio Business 101, to shed light on the topic of insurance.

 

Beth McVeigh is the Manager of the Commercial Lines Complementary Health Department at Lackner McLennan Insurance, the largest provider of insurance to yoga instructors and yoga teachers in Canada. They specialize in liability insurance, cover a wide range of yoga modalities, and have 25 years of experience serving the yoga community.

 

Protecting yourself financially is just as important as serving your audience and catering to their needs. That’s where insurance comes in, but it can be confusing! Beth answers questions relating to the amount of coverage needed, waiver forms, the requirements to apply for insurance and much more. She also has some tips on how best to protect your yoga business and yourself from potential lawsuits that may come up years later.

 

Whether you’re wondering if you need insurance for your business, or if you’re looking to improve your coverage, after this episode, you’ll definitely have a better understanding of the kinds of insurance you need and should have.

 

Key Takeaways:

[3:47] Shannon introduces her guest for this episode - Beth McVeigh.

[5:21] What is Beth's role as Manager of the Commercial Lines Complementary Health Department at Lackner McLennan, and how is it relevant to yoga teachers?

[8:00] Beth shares more about how she got into the yoga space in the insurance world.

[10:03] How much insurance do yoga teachers really need?

[11:54] Shannon and Beth discuss waiver forms - do yoga teachers need them, and how do they work?

[17:36] How soon after completing their training should a new yoga teacher get an insurance policy into place?

[18:31] What do yoga teachers need to get insurance?

[18:59] Do yoga teachers need to be part of a larger organization in order to be insured?

[19:25] What else should new teachers be aware of when it comes to getting insurance?

[20:07] There are three main types of yoga business owners - the yoga teacher, the yoga studio owner, and the traveling yoga teacher. Beth explains the different types of policies available to cater to them.

[23:56] Shannon shares her experience with insurance coverage and teaching yoga in her home.

[25:58] Beth and Shannon clarify some other questions related to renting studio spaces, traveling abroad, event cancellation and disability insurance.

[29:54] What's the difference between an occurrence-based policy and a claims-based policy?

[32:44] What are some other aspects for yoga teachers to consider in order to better protect themselves?

[36:09] Whose responsibility is it in a situation where the teacher has done his / her due diligence and given appropriate instructions, but the student doesn't heed them and gets injured as a result?

[38:48] Beth shares more about the prices and coverage for some of the policies for yoga teachers.

[40:49] Shannon and Beth discuss some instances and examples of scenarios that could take place that might give rise to a claim.

[43:00] Does the scope of practice of yoga teachers play in at all with insurance?

[46:26] There has been a lot of discussion in the yoga world around touch. Beth shares her perspectives on the topic.

[49:30] For yoga teachers in Canada who are looking for insurance or need more information, check out the Lackner McLennan website.

[50:49] What are Beth's thoughts on sharing yoga online?

[53:48] How does insurance change if you are a yoga therapist or if you're certified with the Yoga Therapy Association?

[55:07] Shannon shares her key takeaway - it's important to take a look at your own insurance and make sure it covers you for everything you need.

 

Links:

 

Gratitude to our Sponsor Schedulicity

 

Quotes from this episode:

 

"We've tried to make insurance as fun and painless as possible because nobody likes to have to purchase insurance."

 

"Unfortunately, in the world that we live in today, people do sue."

 

"When it comes down to a claim, and you are drawn into a lawsuit, the more detail you have, the more you have written down and the more that you can show, the more the chances are that you're going to be exempted from it."

 

"We know that a lot of claims will come about years from the time of the incident."

 

"It doesn't matter how small the class is, or if you're only teaching part-time, you're still exposing yourself, so you still need to make sure that you're fully covered."

 

"If you're doing any sort of specialty yoga, then we would definitely have to put in a bigger policy in place."

Feb 18, 2019

The Connected Yoga Teacher Podcast

104: Legal Answers for Your Yoga Business with Saerin Ally Cho

 

Description:

 

Should your yoga business be an LLC? Do you need to trademark your business name? What kind of permits and licenses do you need to legally run your yoga business? Saerin Ally Cho, founder of Love Light Law joins Shannon in the fourth episode of the 5-part mini-series, Yoga Studio Business 101, to talk about all things legal.

 

Saerin is a lawyer and yoga teacher, who combined her love for the two disciplines into her company, Love Light Law. Her mission is to help yoga teachers and wellness entrepreneurs do what they love and share their light by protecting their businesses with the law on their side.

 

On this episode, Saerin and Shannon tackle some of the confusing and complicated (but extremely important!) legal aspects of running a yoga business. From the type of business entity you should have, to legal responsibility for your students - they discuss it all.

 

If you’ve ever struggled with figuring out taxes or wondered about your liability as a yoga instructor, or even just needed help with the practical aspects of legally establishing and managing your business, this is a must listen.

 

Key Takeaways:

[2:15] Shannon introduces her guest for this episode - Saerin Ally Cho.

[5:00] Saerin is a lawyer and a yoga teacher. Which came first in her journey? How did motherhood lead her to become a yoga teacher?

[7:00] Should yoga teachers have an LLC? Saerin explains more about what that means, and the different business entities that are available as options for yoga teachers.

[11:52] Shannon's business is a sole proprietorship. Saerin explains what that means from a tax and legal standpoint.

[13:51] How does Saerin determine if someone should start an LLC? She illustrates with a few examples of people at different points in their lives and careers.

[16:56] What are some tips and tricks for determining what your business name should be? What are some of the considerations when it comes to choosing a name for your business?

[20:21] Shannon and Saerin discuss some of the trademarking issues that come up in the yoga space.

[21:08] If you're in the US, you can "obtain an EIN from the IRS". Saerin explains what that means.

[24:34] Getting legit with required licenses and permits. Saerin talks through some of the paperwork you may need to run your yoga business - be careful, this varies according to local laws!

[26:41] Shannon and Saerin delve a little deeper into what legal requirements there are when it comes to teaching in a public space or in your home.

[29:56] Hands-on assists can be a bit of a tricky situation in yoga classes. Find out what's allowed in your jurisdiction, as this may differ!

[31:47] If a student openly disregards the teacher's instructions and then suffers some sort of injury, whose legal responsibility is it?

[33:03] What is an example of gross negligence?

[34:34] How much information should you get about the student on your intake and waiver forms?

[38:22] Do get your free download of Saerin's checklist to ensure that the different aspects of your yoga business are considered.

[40:43] Get in touch with Saerin via her website.

[42:00] Shannon shares her biggest takeaways from her interview with Saerin. Do you have any other legal questions? Leave a comment!

 

Links:

 

Gratitude to our Sponsor Schedulicity

 

Quotes from this episode:

 

"I took a good look at what I enjoyed doing before I became a mother, and decided to dive deep into that, and that was yoga."

 

"Coming into a business, and yoga is definitely a business even if you're teaching part-time or full-time, you're going to think about what is the right legal entity structure best for me."

 

"The legal entity structure, in general, creates a wall between your personal assets and liabilities on one side, and professional assets and liabilities on the other."

 

"A yoga teacher coming out of a yoga teacher training 200 might not have legally the same level of standard duty of care that's the same as someone who's been teaching for 20 years and is a yoga therapist."

 

"When you look at it from a legal standpoint, you look at all the facts. Who are these people, and what should they have known?"

Feb 11, 2019

The Connected Yoga Teacher Podcast

103: Hiring and Nurturing Your Team with Shelli Warren

 

Description:

 

Do you have a team supporting you in your business? Are you thinking about hiring, because some parts of your business seem just too overwhelming? Do you need help in hiring, building, and nurturing your team? Shelli Warren, Team and Leadership Coach, joins Shannon in the third episode of the 5-part mini-series, Yoga Studio Business 101, to share more about what it takes to build a successful team as you grow your business.

 

As the Chief People Officer at BizChix, host of the Stacking Your Team podcast, and leadership and team-building expert, Shelli draws on her years of corporate experience to help business owners grow their teams alongside their businesses.

 

You can’t grow a business without a strong team to support you. But when is the right time to start hiring, and who do you hire? How do you ensure your employees are happy? Shelli shares her expertise about the process of hiring - from knowing which position to hire for and creating a compelling job description, to how to find and hire employees who are the right fit for your organization. She also gives tips on cultivating a strong team, and speaks to the importance of team meetings.

 

Whether you’re thinking about hiring your first team member, or you have a team supporting you in your business, this episode has lots of insights into leadership and team building that are sure to make an impact on your business.

 

Key Takeaways:

[6:00] Shannon introduces her guest for this episode - Shelli Warren.

[9:23] What is the first step you should take when you think you need to hire someone in your business?

[15:20] It important to come to center and get grounded, rather than staying too long in your own head space, before making any decisions about your business.

[17:24] Shelli describes her time leading large teams at Procter & Gamble, and how that honed her people development skills.

[19:54] What are some of Shelli's tips for hiring? She speaks to the adage of "hire slow, fire fast".

[22:35] What does it take to write a compelling job description?

[25:33] Why is it so important to have a job description that reflects the mission, values and culture of your organization?

[28:20] Shelli explains more about having built-in triggers in the application process to weed out people who are not a good fit.

[33:03] How can you create a compelling job description for a task or role that you yourself dislike and do not enjoy?

[38:50] How can you nurture your team? How often should you have a team meeting to manage the team?

[44:31] Shannon and Shelli discuss some of the logistics of running team meetings.

[49:07] What is the best way to check in with your team to ensure that things are going well?

[52:44] What are some ways to check in with virtual team members or other team members you may not see as often?

[58:35] Shelli shares a tip for getting more feedback from clients, and how to cultivate these clients into raving fans.

[1:04:42] Do check out Shelli's Stacking Your Team podcast and get your free hiring resource bundle by visiting her website.

[1:07:23] Shannon shares some of her key takeaways. What were your biggest learning points? Shannon would love to hear from you.

 

Links:

 

 

Gratitude to our Sponsor Schedulicity

 

Quotes from this episode:

 

"Really stop and think 'Why am I feeling like I need to hire?'"

 

"What would give me the most relief and the most joy to stop doing right now?"

 

"We hire to free our minds and ourselves up to be able to do the work that we are intended to do."

 

"Oftentimes, it's all anyone is looking for - it's to be seen and heard."

 

"Thing that you really dislike doing, others jump up out of bed to go and do. Everyone has their own likes and dislikes."

 

"That's when that whole level of respect for one another is really going to elevate, because they start to know each other as people."

 

"The premise of that, for you, is to open up the conversation for them, and your job is to listen."

Feb 4, 2019

The Connected Yoga Teacher Podcast

102 Yoga Studio: Mission Statements & Core Values with Steve Hart

 

Description:

 

What does your yoga business stand for? Who are you serving? And what do you hope to achieve? Steve Hart, founder of Riffs Studio, joins Shannon in the second of this 5-part mini-series, Yoga Studio Business 101, to share more, not just about mission statements and core values, but also pricing, memberships, marketing and the business of running a successful yoga business.

 

Steve Hart started Riffs Studio, a unique music and yoga studio in 2012, and offers a full-service yoga program with beginner to advanced classes in a variety of disciplines, with live music. Steve didn’t always have it all figured out - he shares some of his struggles in finding a structure that worked, and why having his mission statement and core values made the journey all the easier.

 

Shannon and Steve dive into the nitty gritty details of what it takes to build and run a successful yoga business - from establishing a membership system that works to managing teachers and paying them fairly, from marketing techniques and strategies to the importance of ensuring the team buys into the core values and mission of the business - they talk about it all.


Whether you’re a yoga studio owner or a yoga teacher working with yoga studios, this episode will shed some light on the intricacies of running a yoga business, and how to bring the different aspects of your yoga business in alignment with each other.

 

Key Takeaways:

[6:17] Shannon introduces her guest for this episode - Steve Hart.

[8:08] Where did Steve's yoga journey begin?

[12:15] Steve explains more about how yoga was a part of his music store when he first started out, and how it has evolved since.

[13:25] What shifted for Steve that brought everything about his music and yoga studio into alignment?

[17:12] What systems did Steve have in place and what did he shift to that had the biggest impact on his business?

[18:43] How does the membership system work in Steve's studio? He takes us through the process of going from new student to studio member.

[21:36] How does Steve ensure that his membership model for the yoga studio is profitable for the business?

[24:10] What does Steve pay his yoga teachers as their flat rate per class?

[26:09] How many teachers work at Steve's studio, and how many classes does the studio offer? Steve elaborates on the schedule he runs.

[27:22] When did Steve decide to add in the idea of a well-defined mission statement and core values to the running of his yoga studio business?

[29:29] How does Steve convey his mission statement and core values to new hires as he on-boards them?

[30:25] Steve shares more about how he conducts the quarterly review of the core values and mission statement with his team.

[32:05] What does Steve's team look like now, and how has it grown from when he first opened?

[34:31] What are Steve's mission statement and core values?

[35:54] What were some of the key things Steve has learned along the way in his journey as a yoga studio owner?

[38:25] Good marketing is key to spreading the word about the good service that you provide.

[39:26] Where should yoga business owners start investing, in terms of marketing? What has the marketing that has been the most helpful for Steve's studio.

[42:45] Steve explains why it is important to surround yourself with different types of people.

[44:37] Steve works with yoga teachers and yoga studios in a consultant's role. He elaborates more on what he does how it aligns with his mission.

[45:34] Get in touch with Steve via email to find out more about his work and how he can help you in your yoga business.

[46:21] Steve leaves us with some final advice.

[47:59] What do you think that you could use from this interview in your own yoga business? Shannon shares her biggest takeaways from this interview.



Links:

 

Gratitude to our Sponsor Schedulicity

 

Quotes from this episode:

 

"My first impression of yoga was actually pretty negative. I didn't really like it all that much!"

 

"I fell in love with yoga and I saw the impact that it had in my life, and the impact it was having on others around me."

 

"I really, at that point, fully believed in what we were selling, and I think that was probably the most important thing."

 

"My job is to bring people in the door, as the yoga studio."

 

"There's so many people around, and there's so many potential new students around that at any given time during the day, there's enough students to make a class profitable."

 

"This mission statement / core values probably, first and foremost, above anything else, I think is the hands down most important thing that needs to be defined, sooner rather than later, in any company."

 

"Providing a good service doesn't really matter if you don't have good marketing."

 

"Providing a good service without good marketing won't get you very far."

 

“Focus on teaching great classes and connecting to people.”

 

“Being a teacher, I think you focus on teaching. Being a yoga studio, that's when I think the marketing becomes a really important thing.”

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