In 2009 did you get any unwelcome challenges in your business? Here are the top 7 business challenges that came as a result of being in a health and fitness business and following are tips on how to avoid them.
* Missed tax payments resulting in fines by the taxation office
* Lost phone resulting in losing appointments and client contacts
* Double booking sessions on a regular basis
* Losing training plans and test results
* Forgetting to book testing and training rooms for important sessions
* Missing rent payments resulting in lost time in phone calls and explanation
* Missing client payments that were picked up months down the track
At best these challenges are annoying; at worst they can cause severe damage to your business, finances and mental state. However by becoming system orientated you will find that a lot of these challenges are completely avoidable by setting up the correct process to increasing productivity.
Now I realise that we don't live in an ordered, structured world where events happen like clock-work. Strange, unplanned, urgent events do come up. However, if they are coming up for you on a regular basis it's time to start developing some systems. When you get an unwelcome challenge, the key questions to ask yourself if "What system/process can I put in place so that this doesn't occur again?"
At a recent conference in New Zealand I attended a talk by Casey Conrad (founder of Healthy Inspirations club chain). One of her observations of world-class businesses is that they were all system-driven. Michael Gerber author of the E-Myth focuses on developing business systems to create businesses that can run without their owners. As a personal trainer the biggest challenge to running your business is that if you don't turn up you don't get paid. However, you can create a business that runs smoothly so you can spend your time on more important things, like family, friends, your health and fitness or watching a movie.
Here are some key systems to develop in your business and personal life.
*Personal Health Systems - the process of looking after you (because you ARE the business)
* Financial Systems - to track your profit, cash flow and targets
* Selling Systems - the process of converting leads into signing on the dotted line
* Marketing Systems - how will you generate the ongoing income you desire and avoid living week to week?
In 2010 the choice is yours. Continue doing what you've always done and hope that things turn out differently; or choose to make success happen this year by developing a systems-based business. The result is that you can free up more time, earn more and work less to have the lifestyle you deserve. However you need to create some action towards making this happen.
We have one-day Business Bootcamps running in Wellington, Auckland and Christchurch on February 19, 20 and 21 2010 and a 6 week Business Booster course starting the week of January 25 2010.
I will be presenting a session on developing business systems specifically for personal trainers. To find out more about Business Bootcamp and various Business Booster programs email us and we'll send you more program information.
As health and fitness experts our expertise are in helping people achieve better health and fitness. As business owners we generally make hopeless system developers. I know because I stuffed it up for years and work with most of my business coaching clients in implementing systems to free up time. So stick to what you are good at but learn to leverage from the benefit of what systems create.
Dave Liow
Thursday, January 28, 2010
Wednesday, January 27, 2010
Leverage Series - Part One
Take a step back from your busy life and check that you are doing all the things you enjoy. If you are not being fulfilled in life with enjoyment then you're missing one of the key survival factors to longevity and happiness and you will find your life to become unbalanced. Correct me if I am wrong but I am guessing your unbalance comes from work. In business if you neglect
The most important thing to you is work/life balance. How do I know this? In coaching health and fitness business I find it is the same thing I am working towards with most business owners. The problem with the work/life balance myth is that it doesn't exist. Who really works eight hours, sleeps eight hours and plays for eight hours. Especially if you are in business! There are times when you work more than play and visa versa. To go in search of work/life you are setting yourself up for failure. Consider the word 'integration' as a more productive way to get you closer to work/life balance where work and life are integrated into your day. The work/life integration model is more successful way to live your life, especially if you value your health, your family and enjoy your work. One of the factors to promoting a better lifestyle is creating leverage into your life. Over the coming weeks I want to offer some solutions to lifestyle challenges by exposing you to the concept of leverage.
Take a step back from your busy life and check that you are doing all the things you enjoy. If you are not being fulfilled in life with enjoyment then you're missing one of the key survival factors to longevity and happiness and you will find your life to become unbalanced. Correct me if I am wrong but I am guessing your unbalance comes from work. In business if you neglect balance in your life, you will find that you are always busy, flat out and lacking energy. I learnt the hard way, by developing a life threatening disease. Avoid times of un-lengthy balance in your lifestyle and don't make the same mistake I made.
How do we create balance?
Meet my great friend Leverage. A very powerful word that is great to have integrated in your life. It has assisted my life's transformation and my business coaching clients from complete chaos to organised chaos and if you feel like your business life is in chaos then study and implement leverage and watch what it can do for you. Leverage allows you to grow your business, increase income, give you more time for the important things in life; better performance and most importantly put some sort of balance in your lifestyle. Do you want to get your great message out to more people and positively influence? Do you want to earn more by doing less? Well jump aboard and take the journey into the world of Leverage. Let's go!
In the fitness industry the first point of call for leverage is to get involved in the game of the internet. Start with an internet registration and add an income producing website, a blog and a professional email address. These are necessities and non negotiable, without them you aren't in the game of leverage and set yourself for trying to build a business using 1980 style resources in the year 2010. It is a very hard game to win. From here there are a whole range of leverage tools that can be created. Such as database collection tools, information products, online services, complimentary gifts, sign up forms, payment forms and even offers to join you on Facebook and Twitter. I should also mention, selling advertising space, audio downloads and adding videos to your site.
As an industry we are fantastic at getting people healthy and fit however we are really hopeless at understanding the growing and confusing world of websites, internet and social networking. Typically it's all about sets and reps, which is only one element to being successful and remember there won't be many sets and reps in your bank balance if people don't know you exist. Online are where the world goes for information so you need to be playing in the online game. If you don't understand how to create revenue from this area then learn another important leverage lesson by outsourcing what you don't know and stick to your strengths.
As Scott Krywulycz, PT Plus CEO, reported on the 6 Figure Trainer Podcast program in December 80% of people look up medical issues online before going to a doctor. So you increase your chances of growing your business and getting better at building an online strategy by playing in the game. Of course you also understand the amount of leverage it will create as well.
Worksites also provide an ideal staff member who can talk and promote us day in and day out. A website will answer these prayers for you. It will work 24/7 without having a break; it won't judge anyone, call in sick or take holidays. You need a website working for you and this is only the tup of the iceberg as far as the leverage a website offers.
Get busy on your online strategy and while most people in the business of health and fitness are out there thinking about it you can be building something of significance by simply getting in the game. If you feel you need a bit more guidance in this area then I have 10 spots available to discuss these concepts to anyone who responds to info@ptplus.com.au with 'leverage tips' in the subject, and we can organise a business chat.
The tips you will be getting in this series of articles on Leverage will potentially save you 5-10 hours a week. So if you are truly serious about building a $100,000 plus per annum business and maintaining a lifestyle at the same time this is the place to be.
David Virgo
The most important thing to you is work/life balance. How do I know this? In coaching health and fitness business I find it is the same thing I am working towards with most business owners. The problem with the work/life balance myth is that it doesn't exist. Who really works eight hours, sleeps eight hours and plays for eight hours. Especially if you are in business! There are times when you work more than play and visa versa. To go in search of work/life you are setting yourself up for failure. Consider the word 'integration' as a more productive way to get you closer to work/life balance where work and life are integrated into your day. The work/life integration model is more successful way to live your life, especially if you value your health, your family and enjoy your work. One of the factors to promoting a better lifestyle is creating leverage into your life. Over the coming weeks I want to offer some solutions to lifestyle challenges by exposing you to the concept of leverage.
Take a step back from your busy life and check that you are doing all the things you enjoy. If you are not being fulfilled in life with enjoyment then you're missing one of the key survival factors to longevity and happiness and you will find your life to become unbalanced. Correct me if I am wrong but I am guessing your unbalance comes from work. In business if you neglect balance in your life, you will find that you are always busy, flat out and lacking energy. I learnt the hard way, by developing a life threatening disease. Avoid times of un-lengthy balance in your lifestyle and don't make the same mistake I made.
How do we create balance?
Meet my great friend Leverage. A very powerful word that is great to have integrated in your life. It has assisted my life's transformation and my business coaching clients from complete chaos to organised chaos and if you feel like your business life is in chaos then study and implement leverage and watch what it can do for you. Leverage allows you to grow your business, increase income, give you more time for the important things in life; better performance and most importantly put some sort of balance in your lifestyle. Do you want to get your great message out to more people and positively influence? Do you want to earn more by doing less? Well jump aboard and take the journey into the world of Leverage. Let's go!
In the fitness industry the first point of call for leverage is to get involved in the game of the internet. Start with an internet registration and add an income producing website, a blog and a professional email address. These are necessities and non negotiable, without them you aren't in the game of leverage and set yourself for trying to build a business using 1980 style resources in the year 2010. It is a very hard game to win. From here there are a whole range of leverage tools that can be created. Such as database collection tools, information products, online services, complimentary gifts, sign up forms, payment forms and even offers to join you on Facebook and Twitter. I should also mention, selling advertising space, audio downloads and adding videos to your site.
As an industry we are fantastic at getting people healthy and fit however we are really hopeless at understanding the growing and confusing world of websites, internet and social networking. Typically it's all about sets and reps, which is only one element to being successful and remember there won't be many sets and reps in your bank balance if people don't know you exist. Online are where the world goes for information so you need to be playing in the online game. If you don't understand how to create revenue from this area then learn another important leverage lesson by outsourcing what you don't know and stick to your strengths.
As Scott Krywulycz, PT Plus CEO, reported on the 6 Figure Trainer Podcast program in December 80% of people look up medical issues online before going to a doctor. So you increase your chances of growing your business and getting better at building an online strategy by playing in the game. Of course you also understand the amount of leverage it will create as well.
Worksites also provide an ideal staff member who can talk and promote us day in and day out. A website will answer these prayers for you. It will work 24/7 without having a break; it won't judge anyone, call in sick or take holidays. You need a website working for you and this is only the tup of the iceberg as far as the leverage a website offers.
Get busy on your online strategy and while most people in the business of health and fitness are out there thinking about it you can be building something of significance by simply getting in the game. If you feel you need a bit more guidance in this area then I have 10 spots available to discuss these concepts to anyone who responds to info@ptplus.com.au with 'leverage tips' in the subject, and we can organise a business chat.
The tips you will be getting in this series of articles on Leverage will potentially save you 5-10 hours a week. So if you are truly serious about building a $100,000 plus per annum business and maintaining a lifestyle at the same time this is the place to be.
David Virgo
Do you know where your business is headed in 2010?
As the saying goes if we fail to plan then we plan to fail. With this in mind the importance of an Annual Strategy for a business becomes vital as it really is a road map for success which gives direction to the efforts of the business owner.
The way to start developing your annual strategy is to imagine it is Christmas Eve 2010 and to picture what it is that you have achieved in your business? This means visualising how much money you have earned. Making a list of the things you want in your business i.e. a new website, 2 corporate clients, deliver 5 workshops, have 10 outdoor group sessions and 20 one on one clients each week. The more measurable these things are the better. This process of starting with the end in mind is called reverse engineering.
Once you have 5-6 key measurables for the year then ask yourself why is it important to reach these goals? This means asking yourself what will it mean to earn X dollars? What does it represent to you? Keep going to the why? Eventually we want to come up with a single word. For example, hitting my financial goals each year is represented by the word CHOICE. The reason being that having a good income means that there are more choices available to me in terms of products or services I can purchase, the length and destination of holidays I can choose from, etc. What I am getting at here is that money is a lot like weight loss, in that I don't believe that people are motivated by actually losing weight - rather it is the benefits that losing weight represents like being more attractive, being able to play with kids, finding a partner, or fitting back into an old pair of jeans.
The next piece of the Annual Strategy puzzle is to brainstorm a meaningful reward to give yourself once you reach your goal and to visualise the satisfaction that comes with achievement. For example, when I hit my financial goals this year I will be taking my family on a 2 week holiday to Queensland and I will be well satisfied with my efforts for the year as I know that for me to achieve my goals I will have helped a number of fitness leaders achieve theirs.
One of the reasons that it is important to go through the whole Annual Strategy process is that when the inevitable ups and downs of the business occur you can refer back to what drives you and the rewards that hitting your business goals will bring. I recommend spending up to an hour each day around planning your time and efforts and then give each day your best effort. Look after your health and understand more is not always better in terms of hours spent working. You can be just as effective in 2 hours as 10 if you have the drive. Finally review each day and look at what was good, great and what can you do better. Using a journal is a great way to do this.
Once you have written up your Annual Strategy you should hang up in your office so that you see it everyday. I advise that you should read it everyday as it will slowly morph into your subconscious so that you live and breathe it.
Once the outcome of the Annual Strategy is determined then it should be broken down into bite size pieces. What this means is to set a quarterly strategy and then to break this down into monthly strategies and finally daily actions. You should develop strategies around income, expenditure, product development and personal development. It is really important to know your numbers and to track these ideally through a scorecard system and to keep the personal development process occurring as up-skilling can remove potential barriers to success. A really good ecample of a monthly strategy would be as follows:
This month I will earn $10,450. I will do this by completing 84 world-class PT sessions @ $100 per session and having enjoyable fun in testing my outdoor group participants and delivering 12 sessions @$150 per session. I will sell my e-book and audio download for $50 to 5 people this month. By earning this money this month I will serve my mission of creating a healthier population plus help to build one step closer to my annual goal. I will work hard on my sales skills by reading 'Killing the Sale by Todd Duncan. Further to this I am avoiding being broke and not having money to do what I want when I want. This will be a great month of business.
The Annual Strategy is then broken down into the monthly tactics which is where the rubber hits the road and you nail down specific outcomes that need to occur each month. Monthly tactics would be having 2-5 specific tactics for each revenue bucket and specific personal development actions.
Having coached so many fitness professionals through the Annual Strategy process I know it to be the most effective way of achieving what you are after from your business in 2010, so if you don't have a written Annual Strategy in place I implore you to start working on one today.
Aaron Whear
The way to start developing your annual strategy is to imagine it is Christmas Eve 2010 and to picture what it is that you have achieved in your business? This means visualising how much money you have earned. Making a list of the things you want in your business i.e. a new website, 2 corporate clients, deliver 5 workshops, have 10 outdoor group sessions and 20 one on one clients each week. The more measurable these things are the better. This process of starting with the end in mind is called reverse engineering.
Once you have 5-6 key measurables for the year then ask yourself why is it important to reach these goals? This means asking yourself what will it mean to earn X dollars? What does it represent to you? Keep going to the why? Eventually we want to come up with a single word. For example, hitting my financial goals each year is represented by the word CHOICE. The reason being that having a good income means that there are more choices available to me in terms of products or services I can purchase, the length and destination of holidays I can choose from, etc. What I am getting at here is that money is a lot like weight loss, in that I don't believe that people are motivated by actually losing weight - rather it is the benefits that losing weight represents like being more attractive, being able to play with kids, finding a partner, or fitting back into an old pair of jeans.
The next piece of the Annual Strategy puzzle is to brainstorm a meaningful reward to give yourself once you reach your goal and to visualise the satisfaction that comes with achievement. For example, when I hit my financial goals this year I will be taking my family on a 2 week holiday to Queensland and I will be well satisfied with my efforts for the year as I know that for me to achieve my goals I will have helped a number of fitness leaders achieve theirs.
One of the reasons that it is important to go through the whole Annual Strategy process is that when the inevitable ups and downs of the business occur you can refer back to what drives you and the rewards that hitting your business goals will bring. I recommend spending up to an hour each day around planning your time and efforts and then give each day your best effort. Look after your health and understand more is not always better in terms of hours spent working. You can be just as effective in 2 hours as 10 if you have the drive. Finally review each day and look at what was good, great and what can you do better. Using a journal is a great way to do this.
Once you have written up your Annual Strategy you should hang up in your office so that you see it everyday. I advise that you should read it everyday as it will slowly morph into your subconscious so that you live and breathe it.
Once the outcome of the Annual Strategy is determined then it should be broken down into bite size pieces. What this means is to set a quarterly strategy and then to break this down into monthly strategies and finally daily actions. You should develop strategies around income, expenditure, product development and personal development. It is really important to know your numbers and to track these ideally through a scorecard system and to keep the personal development process occurring as up-skilling can remove potential barriers to success. A really good ecample of a monthly strategy would be as follows:
This month I will earn $10,450. I will do this by completing 84 world-class PT sessions @ $100 per session and having enjoyable fun in testing my outdoor group participants and delivering 12 sessions @$150 per session. I will sell my e-book and audio download for $50 to 5 people this month. By earning this money this month I will serve my mission of creating a healthier population plus help to build one step closer to my annual goal. I will work hard on my sales skills by reading 'Killing the Sale by Todd Duncan. Further to this I am avoiding being broke and not having money to do what I want when I want. This will be a great month of business.
The Annual Strategy is then broken down into the monthly tactics which is where the rubber hits the road and you nail down specific outcomes that need to occur each month. Monthly tactics would be having 2-5 specific tactics for each revenue bucket and specific personal development actions.
Having coached so many fitness professionals through the Annual Strategy process I know it to be the most effective way of achieving what you are after from your business in 2010, so if you don't have a written Annual Strategy in place I implore you to start working on one today.
Aaron Whear
Friday, January 15, 2010
the state's growing, are you following suit?
Being a home grown Sand Groper from the bush you don't have to reinforce to me what is so good about our state. Recent figures quoted for the first half of 2009, when we were supposed to be in a recession, highlight to me that the word is already out about how attractive this state is to live in. 220 people a day are immigrating to WA; not a month, a day. That equates to over 40,000 people in six months who have decided to live in WA. What's my point?
The opportunities in this state for you to create sustain and grow a fitness business at the same time as creating the most self fulfilling lifestyle you could ever dream of has never been better. But with this massive growth comes some pitfalls if you aren't aware. Such as, 'how long will it be before you strike a spate of bushfires in your business which will need you to radically pour all of your efforts take your focus away from you, your lifestyle and your clients results?' Regular problems such as not having systems in place to deal with an increase in client numbers and how to effectively take their money, monitor sessions used up and keep regularly updating their programs. All of these little problems can be easily averted by looking forward and planning months in advance.
All of these problems mentioned are just the tip of the iceberg. The problems will progressively overtake your business and life if you fail to plan ahead. If you are already in your own PT business (remember as soon as you take money for your services you are in business) and after reading this you can see the spot fires starting to appear, I would suggest you start taking steps to divert tragedy asap. Here's some steps I would strongly urge you to take.
1. Ensure you know what goals and outcomes you want to achieve in your own life. Your business is you initially so if you aren't right how do you expect the business to work.
2. Put rock solid foundations in place that will support you when you get challenged - as you will. The concrete pillars that fell at Rottnest Island have been reportedly found to be of poor foundational structure following this step yours ago may have saved a life. You following this step now may save your business and your own lifestyle from tragedy in years to come.
3. Get accountability in your life and if you can't do this yourself look outside and that person will appear. Someone from outside looking in can easily see dysfunction you won't be able to until disaster strikes.
The investment of time, money and self development now will pay huge dividends in the future of your fitness business but most importantly the lifestyle you deserve. Don't become a PT statistic and drop out fo the game, jump in and make a massive difference in the health and wellbeing of all West Aussies.
David Virgo
The opportunities in this state for you to create sustain and grow a fitness business at the same time as creating the most self fulfilling lifestyle you could ever dream of has never been better. But with this massive growth comes some pitfalls if you aren't aware. Such as, 'how long will it be before you strike a spate of bushfires in your business which will need you to radically pour all of your efforts take your focus away from you, your lifestyle and your clients results?' Regular problems such as not having systems in place to deal with an increase in client numbers and how to effectively take their money, monitor sessions used up and keep regularly updating their programs. All of these little problems can be easily averted by looking forward and planning months in advance.
All of these problems mentioned are just the tip of the iceberg. The problems will progressively overtake your business and life if you fail to plan ahead. If you are already in your own PT business (remember as soon as you take money for your services you are in business) and after reading this you can see the spot fires starting to appear, I would suggest you start taking steps to divert tragedy asap. Here's some steps I would strongly urge you to take.
1. Ensure you know what goals and outcomes you want to achieve in your own life. Your business is you initially so if you aren't right how do you expect the business to work.
2. Put rock solid foundations in place that will support you when you get challenged - as you will. The concrete pillars that fell at Rottnest Island have been reportedly found to be of poor foundational structure following this step yours ago may have saved a life. You following this step now may save your business and your own lifestyle from tragedy in years to come.
3. Get accountability in your life and if you can't do this yourself look outside and that person will appear. Someone from outside looking in can easily see dysfunction you won't be able to until disaster strikes.
The investment of time, money and self development now will pay huge dividends in the future of your fitness business but most importantly the lifestyle you deserve. Don't become a PT statistic and drop out fo the game, jump in and make a massive difference in the health and wellbeing of all West Aussies.
David Virgo
leverage
Leverage plays a huge part of helping your business grow to another level. In saying that most of you are probably too busy to even think about leveraging your own time to create more income buckets and to work less. I only say that because I know that's how I felt when the concept of leverage was introduced to me.
What is even worse, until you start embracing leverage there is no way you are going to ever graduate from where your business is at right now, unless you want to earn more by working more hours. Honourable but not necessary. What would you say if I could guarantee you could work less, earn more and even better absolutely love your work more and more every day? Leverage will do this for you by allowing you to spin what you do in more ways than just swapping time for money.
To highlight my point better I have a great story to tell about the humble M&M (little bit of chocolate covered in a coloured sugar coating). Recently while n the USA we called into Las Vegas where I stumbled upon the M&M Factory - my daughter took me!!! You wouldn't believe the amount of stuff they sold in that place. There were two stories full of products. Stuffed M&M toys, M&M's in cars, single packs of 1 colour M&M's, M&M umbrellas, M&M hats and the list goes on. I kid you not there would have been over 100 items related to M&M's for sale. And for your information the store was full of M&Mers (a PT's dream market).
Point being if they can leverage a little piece of coloured chocolate into over 100 income buckets don't you feel your valuable product could be leveraged a little? Hopefully you can start to appreciate that all of those long hours you are doing you could be put to better use. You could even start to spend more time keeping yourself healthy and happy rather than focusing all your efforts on everyone else and their fitness needs.
Start the process off by giving it a little bit of thought. Try this formula to get you thinking.
- What is my specialty? What part of my personal training do people really like?
- What benefits do my clients get from my expertise?
- What do they want more of?
- How can I give them more of what they want and get greater results without me being there?
This will start you thinking and creating an awareness on how leverage could be adopted by you to help grow your business and work less hours.
David Virgo
What is even worse, until you start embracing leverage there is no way you are going to ever graduate from where your business is at right now, unless you want to earn more by working more hours. Honourable but not necessary. What would you say if I could guarantee you could work less, earn more and even better absolutely love your work more and more every day? Leverage will do this for you by allowing you to spin what you do in more ways than just swapping time for money.
To highlight my point better I have a great story to tell about the humble M&M (little bit of chocolate covered in a coloured sugar coating). Recently while n the USA we called into Las Vegas where I stumbled upon the M&M Factory - my daughter took me!!! You wouldn't believe the amount of stuff they sold in that place. There were two stories full of products. Stuffed M&M toys, M&M's in cars, single packs of 1 colour M&M's, M&M umbrellas, M&M hats and the list goes on. I kid you not there would have been over 100 items related to M&M's for sale. And for your information the store was full of M&Mers (a PT's dream market).
Point being if they can leverage a little piece of coloured chocolate into over 100 income buckets don't you feel your valuable product could be leveraged a little? Hopefully you can start to appreciate that all of those long hours you are doing you could be put to better use. You could even start to spend more time keeping yourself healthy and happy rather than focusing all your efforts on everyone else and their fitness needs.
Start the process off by giving it a little bit of thought. Try this formula to get you thinking.
- What is my specialty? What part of my personal training do people really like?
- What benefits do my clients get from my expertise?
- What do they want more of?
- How can I give them more of what they want and get greater results without me being there?
This will start you thinking and creating an awareness on how leverage could be adopted by you to help grow your business and work less hours.
David Virgo
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