The X’s and O’s of running a fitness business and being a fitness entrepreneur are relatively easy to discover and implement in your business. However, if you don’t master your mindset you’ll struggle to find success.
If you’ve read the cook the Emyth by Michael Gerber you may be familiar with these stages of a small business, more specifically the roles that the business owner goes through.
As running a fitness business, continues to grow and evolve you’re going to see it transform and adapt.
The flood of new fitness studios, bootcamps, cross training facilities and even group training franchises popping up is saturating the market quickly. Combined with the consumers of these facilities having access to more information than ever about fitness and nutrition and you have an industry that is at a tipping point.
The transition from being a great trainer starting your own business to learning how to manage people to being a high level business owner is going to have happen quickly for those new to the industry.
It’s going to be tougher and tougher to build a sustainable business by just being great at what you do. You’re going to have to learn to market, sell, and manage your business finances and operations at a high level.
The high performing business owners will be the ones that thrive in a highly competitive market while those that don’t develop the skills it takes to run a highly successful business will continue to struggle to survive.
Now is the time to focus on your growth as a business owner, not only as a trainer.
Here’s a priority list of skills to develop:
Vision & Goal Setting
If you can master marketing and sales you’ll be able to expand and grow your business, which in turn will provide you the revenues to add staff and scale your business.
Once you’ve mastered client attraction and conversion you need to manage your finances so that you’re keeping more of the cash you’re bringing in. Being highly profitable and running a lean business will allow you to turn your work into systems that can be repeated. This is a must before you bring others in so that you can delegate the tasks to them.
As you develop systems and bring on team members you’ll need to master your communication, not just with people but inside your entire company. Understand the need for structure and planned sharing of information within your business.
Going from 1-2 team members to 5-6 is a huge jump and will require you to be a manager. You have to understand how to delegate, communicate and hold your team accountable.
Finally as you transition into full fitness entreprenuer mode you will be focused on building your vision and goal setting skills. This will allow you to give your team targets for success and help you innovate and grow.
These skills are like muscles that must be developed over time and require practice. Start developing them today!