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Fitness Business Goal Setting In 2010

 

How To Set Goals For Your Fitness Business By Pat Rigsby

 

If you’re like most people (me included) you’re going to write down some goals for the upcoming year. Myself – I’ll be writing down business, family, heath / fitness and personal goals and then mapping out a plan to achieve all of them – or at least most of them;) Here are the fitness business goals I recommend that you have :

1. Income Goals – How much will you make in 2010?  Really, there are 3 income goals to consider:

  1. Gross Business Income
  2. Net Business Income
  3. Personal Income

Not only should you be identifying how much money you want your business to make, but also how much of that money you want to keep (and ‘all of it’ isn’t a goal – it’s a dream.) So identify how much you need to gross per month considering your expenses, taxes and margins in order to generate the personal income you’re striving for.

2. Number of New Clients Per Month Goal – It amazes me how few fitness pros actually identify specific goals for new clients each month.  If you’re running a bootcamp or some other group training format, it’s certainly realistic to set a goal of 5, 10, 15 or even 20 new clients per month depending on how aggressive you are with marketing.

3. Yearly and Monthly Client Value Goals – This is the average value each new client will generate for your business.

You will figure this by dividing your total yearly / monthly revenue by the number of clients you had.  The higher this is the better off you are. You’re going to raise this number by increasing your rates, maximizing your retention and adding additional products and services to your business that your clients will benefit from.

4.  ‘Work On Your Business’ Goals –  Identify specific goals for:

  1. Time spent marketing
  2. Time spent ‘working on’ your business
  3. Number of books read or resources studied
  4. Events / seminars attended or mastermind / coaching groups belonged to

I think this is a big one.  If you don’t make time for these types of goals they get ignored or at least pushed to the bottom of the ‘To Do’ list. Set a specific number of hours each week you’ll dedicate to marketing.  5-10 is a good start. Set aside a few hours each week to develop systems, improve existing systems and brainstorm growth opportunities. And don’t overlook education – like books, seminars, coaching and Mastermind groups.  It’s too easy to say ‘I’ll do it later.’ And later becomes never.

These are 4 Must Have Goals.  I’d recommend setting more – not just for your fitness business, putting them on paper and mapping out a plan to achieve them. Once you have your goals, review them each day. You’ll stay focused and achieve more. If you’d like to share some of your goals – please post them below. Nothing beats public accountability  😉

Dedicated to your success,

Pat Rigsby

Pat Rigsby is a Co-Owner of the International Youth Conditioning Association & the youth fitness franchise Athletic Revolution as well as a fitness industry consultant serving thousands of personal trainers and fitness entrepreneurs. Sign up for his fitness business free newsletter to discover proven marketing, sales and business strategies, along with blog updates, news, and more! While you’re at it, follow him on Twitter.

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