There is so much to think about when you are managing and growing your fitness business.
Sometimes it feels as if you have plates spinning, balls jugging while walking over a path of hot coals. And that can be just a regular Monday morning for you!
What is of critical importance, while you walk that tightrope of fitness business management, is that you use your most valuable resource, your time, to its maximum potential. In other words, don't waste time on things that are not moving you towards your goals.
Eliminate the unnecessary and consistently follow through with what is really important.
In this piece, we are going to take a look at five activities, which will give you the upper hand in terms of growing your fitness business in a scalable and manageable way. While there are a multitude of moving parts with any business, this will give you a platform with which to develop a solid foundation that can grow with you as you accumulate the resources to expand.
Here are five Top Ways to Manage Your Fitness Business.
1. Network as much as possible.
How are you currently building your client base? Are you getting out there, making new connections and working towards creating a powerful testimonial gathering machine to work for you? This activity alone can go a long way towards helping you create a full and thriving business.Gain the support of other local small businesses by networking with other small business owners (hair salons, nail salons, dermatologists etc.).
Join the Small Business Associations (SBA) or your local Chamber of Commerce and participate in community events to raise awareness about your business. Participate in community functions (help sponsor a 5k, do community service and encourage your employees to do the same, sponsor a little league team etc.) so potential clients will be aware of the services you offer and your commitment to improving your community.
Mix, mingle and get out there on a regular basis; this will help you secure your position as the expert in your community and cause people to think of you first when looking for a fitness professional for themselves or friends and family.
Learn How HealthPRO Can Help You Manage Your Business
2. Create a business plan.
Let's face it, business plans are not what they used to be (long, stuffy, boring and often times outdated before you even get started).
Business and life moves at a very quick clip these days, but one of the keys to running a fitness business is to have a business plan that outlines your goals and projected growth; keeping in mind that it needs to be reviewed often (every 60-90 days is great) in order to modify and update as needed.
You really must outline your finances so you know what sales numbers you need to meet in order to break even; along with quantifying specific goals you have for the growth and development of your fitness business.
If you have or are planning to have employees, be sure to outline the type of culture you are looking to develop in this document as well. Entrepreneur Magazine has many helpful articles but this one on creating a healthier workplace by offering flexible schedules is a great thought starter.
"Other research has looked at more subjective areas effected by schedule flexibility, including people’s happiness and satisfaction. It makes sense that when people can choose to do things like take their kids to school, sleep in or help their spouse, that they'll have better relationships, a better quality of life and more happiness with their employment."
There are a number of templates you can follow, but basically, writing and revising a business plan forces you to give thought to the areas of your business that may not be flashy, glamorous and fun but must be worked to ensure your overall success.
3. Stay on top of your finances.
If managing numbers, cash flow and reviewing spreadsheets are not your passion (quite frankly, working in Excel makes me want to cry), then call in a pro.
A great accountant is worth his or her weight in gold...or platinum...or chocolate, depends where your preference lies. Having a knowledgeable accountant (you would likely only need them on a part time basis, to review books, perhaps issue payroll and pay bills twice a month.) will save you money almost every time.
I know how tempting it can be to save a buck and do it yourself, but it’s almost never more cost-efficient in the end. Put the word out via your fellow business owner friends as to who they would recommend. Schedule an interview and make sure you are both on the same page in terms of financial philosophies.
An accountant will almost always find more deductions and keep you penalty-free. Set aside about 15 minutes every week to organize your finances, and don’t let other things take priority during this time. As a result of turning over the reigns to a seasoned pro, you’ll have more insight into your business, be able to make more informed financial decisions and have everything organized when tax time approaches.
Something always feels more pressing than your finances; but when you make the time every week, you will have a clear overview of where you are, where you are going and what you need to do to get yourself there.
4. Stay organized.
Organization of your time, employees, marketing and finances is one of the keys to successfully running a fitness business. Develop a spreadsheet or use a tool like Evernote where you can create files, schedule reminders and clip important articles (Like this one!) from the web that will help you manage and grow your business.
Make time, daily, to review everything; preferably first thing in the morning and late in the afternoon or early evening. It won’t take long, but will save you a huge amount of time, effort and money in the long run if you choose to make this a daily practice.
Using HealthPRO as a tool to build your community, acquire and spread positive testimonials about your products and services, collect your fees up front, offer your clients coupons and offers to get them coming back for more on a consistent basis; can be invaluable in terms of streamlining your marketing efforts and positively impacting your bottom line.
HealthPRO is basically an All-In-One Marketing Suite. They give you a number of marketing tools such as website widgets, social sharing features and more. A couple of incredibly powerful features that help you stay organized and keep cash flow on the positive side (which is just where you want it) are...
Our state-of-the-art scheduling system allows you to accept and manage appointments online in real time.
5. Know your industry.
Stay on top of what's new or trendy in your industry, so your fitness business can stay competitive. Subscribe to relevant and completing newsletters, Facebook pages, Twitter feeds, Instagram
and Pinterest accounts to stay informed about current events in fitness, health, wellness, nutrition etc.
Attend industry trade shows to meet new people, learn about new products and offerings and attend industry specific classes.
Make sure you are blogging and maintaining a presence on Social Media in order to build, grow and educate your fan base.
If you take action on these Top 5 Ways to Grow Your Fitness Business on a consistent basis, you will see a dramatic increase in productivity while experiencing decreased stress levels while you juggle those balls, spin those plates and walk that fire path.
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