The History of Positively Ballroom, LLC – Chapter 1
This blog has been silent over most of the summer. My last entry here talked about movies and other activities that did not include dancing. That did not mean that I was not dancing, just not writing about it. 🙂
In reality, I am never too far away from the studio or social dance event, but there has been another ongoing project that has taken quite a bit of my focus this Summer. So sit back and enjoy a story of my journey, which I will be sharing with you over the next several blog entries.
Positively Ballroom first became a concept in 2004. I had taught dancing at different studios in the Charlotte Metro region for a few years, but had become disillusioned with the process. Making sales was the primary focus, while teaching the client to dance was a distant second. I longed to find a place that did not have its primary focus on just money and cared about their students in other ways besides being just a dollar sign.
I know, call me delusional… or maybe an idealist. Business is about making money, right? What other reason is there is be in business if you are not making money? Trust me, I understand this concept, but I guess the real question for me was “How much money is truly enough for me to be successful in business?”
This was the idea that drove me to consider starting my own studio. The goal was to find if I could indeed be successful by making the client/student the primary focus and still make enough money to make the business profitable. This may sound like an easy task, but when it comes to running a business this is not always the case.
Starting a new business takes a lot of capital. Most people will find that $20,000 is a good starting point. I am not including items like leases and space build outs in this amount. Those items are budgeted separately, at least in the way I generally approached my start-up cost. Most people will need to take out a loan to pay for these big budget items.
My personal dilemma was that I had about $5000 on hand as start-up capital, not near enough to get things going. I was very reluctant to take out a loan and my cash reserves were tied up in other things like a house, car and other investments that I would not be able to access for many years. So how could I begin this process with so little start-up capital on-hand?
Check out Chapter 2 to see the next step in the History of Positively Ballroom.