Riding the Waves of Change: The Courageous Pivot of YESyoga
This week’s blog is all about pivoting. Do you think you can teach an old business new tricks, or should you just throw it into the ocean and wait 84 years?
TL;DR It’s a long one this week - this newsletter shares the big news of YESyoga’s closure as the opportunity to pivot, not as the end. By reflecting on my entrepreneurial journey, achieving goals quickly, and continuing to set new ones, pivoting is essential for growth and enhancing resilience. With a short case study from Netflix’s business model pivot and ask you to use the “Blue Ocean Strategy” for your own potential change. Pivoting isn’t failure, it’s feedback.
Some big news dropped today - the yoga studio that I’ve owned and operated for the past 6 years is officially closing. I’ve decided to let the lease expire and pivot the business into something new.
Now, I’m not an expert on this because it’s all happening in real-time, but I do know the importance of mindset, mental health, and making sure we are taking care of ourselves in times of need… oh yeah, and when we feel great too.
As you know I’m a big goal setter. In fact, on the very first day of my yoga teacher training, I asked my teacher, “What does it take to open a yoga studio?” Then, I wrote it down as a goal in my notebook, “In 5 years, I will own my own yoga studio.”
Guess what… I did it in one year. In 2015, I opened Sugar Land’s first Stand Up Paddle Board Floating Yoga Studio. The SUP Floating Studio opened just 2 months after I graduated from yoga teacher training. I bought an LLC (the first of many now) and ordered 13 paddle boards. One year in, I had Charlotte, my second kiddo. I was about 8 months pregnant carrying boards and doing setup. It was a fun summer business. Ultimately, I ended up selling it in 2017. It was time to think bigger. To be courageous. To say YES to something else. I sold Bowline SUP Yoga and I said YES to being courageous and quitting my yoga studio manager job to pursue my passion.
With the help of YESyoga’s co-founder, we opened the studio in 2018 with two babies on our hips - now, Charlotte is almost 8. I did it again. I had crushed my goal in less than 3 years.
When I first envisioned YESyoga, there was a clear goal in mind. Besides the goal of being an entrepreneur in a brick-and-mortar business, I wanted to create something bigger: a place that cultivated connection, wellness, and personal growth. And over the years, YESyoga became more than just a yoga studio; it was home.
Fast forward to the present day, with my lease coming due, I want to fully prepare myself for what’s next...as my professor loves to make a sports reference - Do I “Punt, Pivot, or Pursue?” No lie, I was Instagram Ad sold for the Master of Science in Entrepreneurship at the University of Houston - that was a d*mn good ROI on their part…I’ve implemented a ton of what I’ve learned into the studio, and I’m learning new things every class.
One of the biggest lessons I’ve learned that wasn’t in any textbook but through my recent research class: Pivoting isn’t failure, it’s feedback.
Scientific research supports the idea that pivoting is an essential part of successful entrepreneurship. A study published in the Journal of Business Venturing revealed that many entrepreneurs have a really hard time pivoting because many are so attached to their business or value proposition. However, those who pivot their business in a new direction tend to have higher success rates.
Neuroscience research also shows that embracing change can be beneficial for our brains. It fosters resilience and enhances our problem-solving skills. When we pivot, we’re not just making a business decision, we’re engaging in a process that keeps our cognitive abilities sharp and our emotional intelligence in tune.
Okay one more study: Harvard Business Review (Harvard, have you heard of it?!?) points out that entrepreneurs who have coping strategies like social support, reframe their challenges into positives. Additionally, those who have boundaries and some balance are more likely to experience less stress and better mental health during turbulent times - like what’s happening in real-time right now.
That last study gave me some great perspective: I have all of those things. Though I’m really good at being a dark lil’ cloud, I’m happy for the support that I have and the habits I’ve created for myself and my mental health. One thing worth calling attention to is that the study says “less stress” not “NO STRESS AT ALL.” Reminding ourselves we can do hard things while in the hard thing also helps trick our brain into resilience, and I’m all about a loophole. (OMG LOOPHOLES as a callback - too soon?!?!?)
Here’s a quick lil’ business pivot case study on a company called Netflix (you’re prob familar….) As you may remember, Netflix used to offer DVD rentals. If you do remember that, don’t forget your nightly eye cream...😬They originally launched in 1997 sending DVDs in the mail, fast forward to today - snail mail takes too long and everything is online and instantaneous. They even release movies directly to digital now. Clearly, they needed to pivot from DVDs. Take a second to understand the impact and importance of their pivot - they ended up disrupting TV and film completely.
Netflix did what’s called Blue Ocean Strategy (you can watch a 2-minute YouTube Video all about its definition and application here.) Netflix created an entirely new market, and now, many companies benchmark their subscribers against Netflix’s (though now they are no longer releasing subscriber numbers.)
While what happens next with my business venture might not look entirely like Netflix, it’s exciting to know that it could be a Blue Ocean BFD. Who am I kidding, it totally will be.
With the upcoming closure announcement, it’s been more important than ever to stay consistent with my mindfulness practices. Here are 3 strategies I’ve embraced:
Stay Present - Big news: I deleted the Facebook App from my phone. I know that seems so simple, however, now being down to only one social media platform with quick access has been a game changer. It also has helped me give my full attention to whoever needs it when they’re talking to me.
Emotional Awareness - Doing the thing my therapist wants me to do, naming the emotions I am feeling, and doing all the journaling.
Openness to Experience - reminding myself over and over again to being open to learning and growing with what these new changes are bringing. Pivoting isn’t failure, it’s feedback for what’s next.
So now, it’s time to take a Reality Inventory:
Use the Blue Ocean Strategy and evaluate your current business offerings by answering the following questions:
What new needs of customers are not being met by my current offerings?
What can I offer that is different from what’s currently available?
How can I add value in a way that no one else is doing right now?
While you probably aren’t making a life-changing pivot like me, these are a great place to start to make little pivots into a big blue ocean.
Also, if it were me - I’d also reformat these questions to pivot my mindfulness practices too. Ask yourself:
What are areas of my life that are lacking attention or where could mindfulness benefit a new approach?
What unique strengths or qualities do I possess that I can incorporate more into my mindfulness practices?
How can I make my mindfulness practice fit me and not be just a generic thing?
Don’t freak out about this big blue ocean, you have you’re lil’ cute swan floatie from the other week.
Remember…and I’ll try to remember telling myself too…pivoting isn’t about turning away from failure, it’s about steering towards success using the feedback life has given us. The closing of YESyoga isn’t just an endpoint; it’s a springboard into what’s to come.
So as we say goodbye to the familiar and dive into the unknown, let’s do so with the knowledge that we are capable, we are resilient, and above all, we are courageously embracing the next chapter of our incredible journey. Keep saying YES to the adventure of life. Here’s to being courageous, capable, and strong, as we each find our own expansive blue ocean to navigate.