featured image for podcast episodeSide Hustle Coaching Series Part 2 | Alan & Tallis R

Side Hustle Coaching Series Part 2 | Alan & Tallis R
Episode 077R

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Posted by Choose FI

Episode Guide

Episode Summary:

The latest episode features the continuation of the side hustle coaching series with Alan Donegan and Talas, who is passionate about helping people with Parkinson's through dance therapy. They discuss the transformative impact of Alan's coaching on Talas's vision, which is now becoming a reality with workshops being organized at local retirement facilities. Feedback from participants shows significant improvements in their social interactions and physical well-being, highlighting the importance of community engagement. The episode also delves into estate planning and the interplay between financial legacy and personal value formation in the next generation. Listeners are encouraged to consider how to instill resilience and appreciation for hard work in their children while discussing financial independence values. The dialogue emphasizes practical steps in setting up effective business models and addressing the apprehensions involved in asking for money or feedback, ultimately encouraging listeners to embrace a proactive approach to building their ventures.

Episode Timestamps

Featured Guest
Guest Image

With Alan Donegan

Alan founded Rebel Business School in 2012 with Simon Paine after they thought there must be a better way to start a business, without debt and without formal business plans. Since then, Rebel Business School become a global movement in Colombia, Morrocco, New Zealand and more. Alan went on to launch The Rebel Entrepreneur podcast and then Rebel Finance School with his wife Katie. Alan and Katie reached financial independence in 2019 and now travel the world writing, playing and eating everything!

Where to Find Me

Unlocking Financial Independence through Community Engagement and Dance Therapy

In the journey toward financial independence, harnessing personal passions can lead not only to personal fulfillment but also to meaningful social impacts. Talas, a passionate dance instructor, is transforming lives through dance therapy specifically tailored for individuals with Parkinson's disease. This article extracts key insights and actionable advice derived from her experience as discussed in the ChooseFI podcast, featuring co-hosts Jonathan Mendonsa, Brad Barrett, and coach Alan Donegan.

Understanding the Power of Community Engagement

The Therapeutic Benefits of Dance for Parkinson's

Engaging with community through dance does not only entertain; it has profound therapeutic benefits for those battling Parkinson's disease. Dance fosters physical mobility, social interaction, and emotional well-being. If you are in a caregiving role or looking to form a community business, consider ways to incorporate creative engagement strategies—whether through dance, art, or other expressive initiatives—to enrich the experiences of participants.

  • Explore Therapeutic Modalities: Research the various ways creative arts can be beneficial. Leverage established practices within your community to address health conditions effectively.

Building Relationships with Local Entities

For community projects, establishing partnerships with local retirement facilities can facilitate workshop implementation. Talas's collaboration with directors at these facilities exemplifies how networking can yield supportive environments for workshops.

  • Reach Out to Local Facilities: Identify potential venues that align with your vision. Propose partnerships that focus on community well-being, enhancing the programs they already offer.

Crafting Your Business Framework

Securing an Online Presence

Every business initiative begins with a robust online identity. Talas secured her domain via Wix, simplifying the process with a platform she was comfortable using.

  • Create a Professional Website: Utilize website-building tools to establish your online presence. Feature relevant information about your offerings and share testimonials to build credibility.

Collecting Testimonials and Measuring Impact

Gathering testimonials is a powerful way to validate your business and establish credibility. Talas conducted surveys at her workshops, measuring happiness and community engagement among participants.

  • Implement Feedback Mechanisms: Regularly collecting feedback will not only help improve your offerings but also provide potential clients with real-life testimonials. Consider quarterly surveys to gauge participant experiences and measure impact effectively.

Developing Your Pricing Strategy

Setting the right price for services is crucial. Talas aimed to start at $850, which she felt reflected the value of her workshops.

  • Define Your Value Proposition: When determining pricing, reflect on the value you're providing. Look at industry standards and adjust based on experience, community impact, and participant outcomes. Starting modestly can help gauge client willingness to pay and help you grow towards higher pricing tiers.

Generating Income Streams

Exploring Sponsorship Opportunities

Diversifying funding sources can bolster your business model. Talas hinted at potential sponsorship from local businesses and organizations, reflecting a strategic approach to funding her dance workshops.

  • Identify Potential Sponsors: Approach local businesses that may benefit from community goodwill by supporting health and wellness initiatives. Show them how sponsoring your workshops aligns with their corporate social responsibility goals.

Fundraisers as a Connection Tool

Talas planned to host fundraisers linking medical professionals and participants, thereby nurturing relationships with community stakeholders.

  • Engage Your Network: Use fundraising events to both raise money and build connections. Involve local medical institutions, businesses, and community leaders to broaden your network and enhance participation.

Reflection and Action

Building Sustainable Engagement

The essence of entrepreneurship in health and wellness initiatives lies in sustainable engagement with the community. Talas's workshops are not just about teaching dance; they are about fostering connections and enhancing quality of life.

  • Nurture Community Relationships: Regular engagement and follow-up workshops can create a loyal customer base while allowing for ongoing positive impact.

Legacy and Financial Independence

The journey towards financial independence is about more than just achieving financial goals; it involves paving the way for future generations. The experiences of entrepreneurs like Talas show that creating a meaningful business can also serve as a legacy for family and community.

  • Teach Financial Literacy: If you're establishing a business, incorporate lessons about financial literacy and independence, ensuring others also benefit. Share these insights with participants, instilling a sense of responsibility and awareness around financial success.

Conclusion

Talas’s journey illustrates that cultivating a passion into a business can not only lead to personal financial independence but also create significant community impact. By following the steps detailed herein—community engagement, building an online presence, collecting testimonials, crafting a solid pricing strategy, exploring sponsorships, and nurturing relationships—you can embark on your own entrepreneurial journey. Embrace these actionable insights to unlock not just your financial future but also contribute positively to the lives around you.

An second part to the conversation between ChooseFi community member Tallis, who teaches dance classes in retirement facilities, and Pop-Up Business School founder Alan Donegan, to help get Tallis’ side hustle off the ground.

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  • Precursors to this episode: Episode 30 and Episode 56.

  • Tallis gives an update on her side hustle to-do list.

  • Client feedback: the questions you ask impact the results you’ll get.

  • What is the best way to sell Tallis’ dance classes to the retirement facilities.

  • Tallis continues to wonder how to best monetize her service?

  • Tallis hopes to facilitate workshops to train dance-class teachers.

  • Alan and Tallis previously discussed securing sponsorship, potentially from pharmaceutical companies.

  • Currently, Tallis’ dance class is endorsed (and paid for) by the American Parkinson's Disease Association, so classes are free for participants.

  • Could Tallis collect a fee from participants?

  • Most important considerations right now: how is going to pay, and how much to charge?

  • Different payment models can impact clients’ commitment to the classes.

  • Training an organization to facilitate its own courses will pay significantly more than providing courses directly to individuals.

  • How can Tallis decide on a price for her workshops?

  • People equate cost to value: if you charge too little, they’ll think the product isn’t valuable.

  • Alan recommending contacting potential clients (retirement communities) that are well outside her target geographical location in order to practice her pitch and get feedback on potential pricing.

  • Pricing has a lot to do with confidence.

  • Successful business models have repeatability.

  • Marketing is rarely starting from the ground up: find other businesses in a similar space, or businesses that are doing something that you think would be really effective the space you’re targeting and start there.

  • Pitch tip: don’t allow your voice pitch to go up when giving your price. Use a statement tone that sounds confident – even from beginning to end of your sentence.

  • What’s up next: get feedback from local contact about other offerings.

  • Go big! Don’t offer your service to just a few potential clients.

  • Expect that it’ll take 1-5 months to get the program from start to point of sale.

  • The only way to know if your business will be successful is to ask people to buy; before that moment, feedback is hypothetical.

  • Tallis is part of the Des Moines ChooseFI local group – contact her there.