You’ve started your fitness business, whether it’s offline or online, whether you’re a gym owner, personal trainer, or you host boot camp sessions, whatever it might be. The next thing you’ll want to start thinking about is how to grow and scale that business. My guest and I will walk you through the process of taking a good look at the product you’re offering and making sure that it’s something that as my guest puts it, something that will make people will say, “hell yeah!” We’ll also discuss building your team and finding the right people to take some responsibilities off your shoulder that aren’t your strong suit or things that you shouldn’t be spending your valuable resource of time doing. Other topics include the insides of business metrics and how to grow and scale your business through advertising.
What You’ll Learn from this Episode:
Team building and delegating
Tracking business metrics
Grow and scale your business through advertising
Here’s the Complete List of Tips:
What are some foundational pillars that have to be in place in your business before you focus on growing/scaling? (13:00)
You need to do some research, testing, and use some innovation. Trainers often think that they know what people need, but it isn’t always the same as what people want. Look in your market and in your niche, see what is already selling that you can tap into as well. Its not about ripping off their product, but it gives validation to the skills you also have. If you have an entrepreneurial vibe, you can put your own spin on it to find a product that will convert to sales. Once you start working you’ll get client feedback and can make little tweaks along the way. Finally, its important to build a supportive team rather than trying to work as a sole proprietor.
How did you collect feedback? (15:50)
Surveys, directly communicating, see what they want and expand on it. Check your numbers on what is selling and what isn’t. This is the simplest way to figure out what your clients are looking for. There is a lot of technology that will help you collect this data if it isn’t your strong suit.
How do you know when you’re ready to add people to your team and decide who they should be? (26:00)
You get to a point where you realize there’s only so many hours, skills, qualities you can contribute to keep things running efficiently and effectively. Start by just adding one more team member – that’s already double! This can be a big game changer. Specifically a VA – Virtual Assistant – is often very valuable to online trainers. Good time for this is when the budget allows it, one, and keep track of the tasks that you are doing for your business to get an idea of what would be feasible to delegate to a team member.
What metrics are you looking to track in your business? (32:30)
Profit First is a book that will help you look at numbers and percentages and get you into a “profit first” mindset rather than equaling out income/expenses as many business owners do. This book highly recommends to stick to certain percentages for your expenses, profit, tax, personal income. Put percentages on these, create boundaries, which will force yourself into making your business profitable.
When tracking your numbers, its not just about the big ones – income/expenses at the top – the little numbers will tell you a lot as well (website visitors, organic search clicks, podcast downloads, number of sales, etc.). A key metric to look at is e-mail subscribers, because this often correlates with an increase in other numbers as well.
What advice do you have to help business owners grow their e-mail list? (39:30)
Create something very valuable you can give away for free in exchange for their e-mail. This could be a PDF, E-book, cheat sheets, etc. We focus our social media advertising around these resources that lead to growing the e-mail list.
Other References in This Episode:
The Exceed Masterclass
Episode 41: EVERYTHING You Need to Know to Get Started Training Online with Dave Smith