We asked some of our Success Coaches two questions about how to set and adjust goals for the rest of 2020. Every day, they talk to independent gym owners across the country and share their combined decades of experience in guiding them to success. At this point in the year, it’s good to look back at how Covid-19 affected you — and how you can move beyond its enormous impact to finish strong.
Question 1: What adjustments should gym owners be making to their year-end goals?
Success Coach Asa Ivers:
First, really dive into your financial numbers to see how you’re trending against your projections, what’s realistic, and what needs to be revised. Second, for many gyms, this is an opportune time to tweak their business model, class sizes, times, etc.
Success Coach Mike Allen:
We’re still in a time of uncertainty, so accept that things are somewhat unpredictable. That being said, you tend to hit what you aim at, so aim at what’s most important. Set goals knowing that you may need to make adjustments along the way. Balance the immediate needs of “putting out fires” with the long-term strategy of the business.
Success Coach Craig Myers:
Reflect on your long-term vision as the first step. Don’t get caught up in the uncertainty of “how” you get there — focus more on the “why.” Reconnect with the reasons you do what you do. It’s either going to affirm you’re still on the right course, despite a few more zig-zags than you would have imagined, or uncover important differences that may affect short-term decisions.
Success Coach Pamela MacElree:
Set metric goals to move you back to where you were when the pandemic started. It’s hard for most of us to accept that we might not end the year with the initial goals we set. Being a little forgiving of ourselves is important, since for the most part we had no control over it. Getting back on track and working toward growth is a reasonable way to address the rest of the year.
Success Coach Madison Allen:
Don’t get caught up in outcomes or the metric goals that are behind pace or no longer feasible. The best type of goals for the rest of this year are process goals, the ones that are made up of action plan or strategy adherence that’s completely within your control. These are distinct from outcome or performance goals because the focus is on behaviors that influence the outcome.
Question 2: What reflection questions will smart business owners be asking themselves?
Do I have sufficient cash reserves to sustain a shutdown? Can my business model adapt to another one? In hindsight, is there anything I would have done differently? What opportunities do I have from this?
What can I learn from other gyms in slightly different circumstances (lost more clients, reopened earlier, had to re-close etc.)? How’s the competitive landscape today? What resources or assets do I need? Am I focusing on what’s really most important? What direction can I get from my coach here?
What have we always done really well? What has always been a struggle, and why? What tools or systems are we missing? Where do we stand financially and what’s the trend? Am I leveraging my coach, my team, my network effectively?
How can I continue to grow my business outside of what I’m used to? How can I start to solve problems for my clients before they come to me with them? What have I learned in the last few months that showed my strengths and weaknesses – and how can I leverage the strengths while working on the weaknesses to grow as a leader?
What can I learn from the past six months? What has changed in the landscape that will affect resetting my goals? Which process goal would have the biggest positive impact on the business if I made it my top priority?
Our Success Coaches are here to help you with this and everything else you need to make your gym a success. Set up a free consultation now.