Assessing Your Fitness Business
Performance of a fitness business can be a challenge to measure. But ultimately there are 5 things all fitness business owners need to look at to assess their performance.
Is your fitness business performing well?
Performance of fitness business can sometimes be challenging to measure. It’s pretty easy to give a quick answer and say “Yeah! My business is doing great.”
But, what if your fitness business is not performing?
First, let’s go ahead and make it okay to have problems in your business. As an entrepreneur and business owner your don’t want people to see that you might be struggling a bit. Which makes the common answer to a question about your business from friends or family ‘it’s doing great”.
It’s okay…I give you permission to have problems in your business, to be tired of dealing with the same problems over and over again, and for things to not be going so well.
The first step is acknowledging it, right?
That’s why assessing your business is critical to your growth and success.
It’s the same reason that you assess your clients when they start with you and then perform routine check-in assessments to measure their progress.
Assessing your business is critical to your growth and success.
You’re troubleshooting for issues, helping them create a plan to overcome those issues, and then tracking progress.
The members of all our coaching groups routinely perform quick assessments on their business and they get feedback frequently from the numbers they track and their communications with their team about the business.
What should you assess in your fitness business?
There are 5 key areas that you need assess in your business. We call them the 5 Alignment Principles™.
- Core Values
- Goals & Metrics
- long term
- short term
- strategic alignment & planning
- marketing & sales
The Alignment Principles
When assessing culture you want to know if your core values are apparent in your business. Can you find examples of them in your daily interactions with your team and clients? Do you know the cost of NOT having your core values defined?
You also want to know how well the people you have in your business are doing. Are they a good fit, do they live your core values? Are they accountable?
Do you have a structure for your organization with everyone having roles and responsibilities in your business?
Does everyone in your business know their individual priorities and the priorities of the business? Do you have a common language for your team so that you can communicate effectively?
Do you have processes documented for the main functions of your business? Marketing, sales, delivering your services, customer service, finance?
Are you and your team executing the processes all the time?
Goals & Metrics
Do you have long term and short-term goals that are well planned and clear?
Do you track any metrics or Key Performance Indicators (KPIs) in your fitness business that tell if you are having success or if there is an issue? There are critical numbers fitness business owners need to be tracking.
Do you have a plan for your business and your long-term vision? Does that plan break down your path to accomplish your long term goals? If you are planning, is your plan strategic, or your best guess?
Are you implementing a marketing strategy that is producing the leads and clients you want?
These are some basic questions to ask yourself to get a feel for how well your business is performing whether you are a brand new startup, or you have been running your business for years.
You might think you have no need to assess your business, you’re running it every day.
You’d be wrong! That’s the exact reason you need to step back and take a closer look at these areas to see how you stack up.
How does your business perform?
Do you feel like your business isn’t performing as well as it could or that you’re a little stuck?
If so, don’t worry! You’re not alone. Many fitness business owners end up feeling frustrated and overwhelmed by their lack of growth. If you’d like a little help figuring out what you can do to break through that plateau and create the business you’ve always wanted it might be time to get some coaching.
Schedule a free Discovery Call today and you can work with one of our coaches to identify your biggest obstacles and create few solutions to get you moving in the right direction.