Fit Business Insider - Personal Training Business - Fitness Business - Fitness Marketing

Note: This makes a lot more sense when you read Part I in its entirety.
You can read Part I here http://tinyurl.com/tgam3

Make the world a better place – PART II

So what have you done so far today? What has your day been like?

Mine’s been pretty cool. I’m taking it easy for a couple days. Still working, but I like to ramp up and work really hard and then take it easy for a bit and recharge.

Today I spent the morning looking at the ocean. Just kind of stared at it for awhile. Then when I was nice and peaceful I closed my eyes and did some visualizing of my future.

Lemme tell ya, it’s not a bad way to start a Tuesday.

It got me to thinking about an email I received a couple weeks ago. It was from a woman who wanted to know if you can really make a living running fitness boot camps.

Great question.

While I don’t run camps a lot of my customers do. And they make a lot of moolah doing it.

But what happens if your camps run dry? What happens if suddenly a new trend hits the fitness world and all those loyal campers aren’t so loyal anymore?

Even better questions.

I’ll answer it with two more:

1- Why do you think I sell so many different products and affiliate programs?

2- Why do you think I’m starting a second business and have ideas for others?

Yup. Multiple revenue streams.

I want – and you should too – the green stuff coming in from as many different sources as possible. That way, once they are set up, I can kick back and do the stuff I really love to do. Namely, write to you.

So can you make a great living with camps?

Yes.

Would I bet your mortgage on it?

No.

But the great thing about camps is that they allow you to leverage your time. You earn much more per hour.

And if you’re earning more in less time don’t you think you could use some of those new-found hours to create more revenue streams for yourself?

AND…

as I wrote about in Part I, don’t you think it will become easier and easier to ONLY work with the clients you want to work with when you don’t solely rely on one-on-one personal training clients for income?

Something else to understand is that your revenue streams don’t have to be fitness related.

OPEN YOUR MIND!

There’s a ton of ways to make great coin. You could:

- Buy a successful franchise
- Invest in real estate
- Start a business that works hand-in-hand with your training business
- Create info-products on anything you know! (I’ve heard of one person who earns six-figures selling an ebook on potty training!)

The possibilities are endless really. I just want you to have your mind open to all opportunities.

Why?

Because there are other ways to create revenue streams beyond fitness. There are an awful lot of people on the internet nowadays selling ebooks and DVDs and everything else fitness related.

Now I’m all about abundance, but competition is competition and a saturated market is….

You get the idea.

The moral of the story:

Yes, I want you to do what you love more than anything else. But I also want you to realize you can create multiple revenue streams based on things you really like so it frees up your time to do what you love.

And that brings me back to fitness boot camps. Scott Colby, one of my very first, and very successful, Ultimate Boot Camp Start-up Kit customers is running a coaching program on how to run your own camps.

It’s going to be very intense and if you are the kind of person that likes learning in a LIVE group then this is for you.

Here’s the deal: When you sign-up for Scott’s program with this special link and write ‘Jim Labadie in the ‘How did you hear about us?’ section of the order page we will give you FREE access to our Personal Trainer’s Media Blueprint download.

That alone is worth $67.

Here’s the special order link:

http://tinyurl.com/yxdtgl
Now get out there and get going on those multiple revenue streams!

Who loves ya?

Yours in prosperity,

Jim Labadie

PS- Please forward this to any fitness pro you feel it will help.

PPS- Scott’s program begins on November 7th and spots are filling up very quickly. So if you want in and you want your FREE copy of the Personal Trainer’s Media Blueprint click here now: http://tinyurl.com/yxdtgl

PPPS- You can discover why the Personal Trainer’s Media Blueprint bonus is worth way more than $67 by reading about it here: http://www.ptmediablueprint.com

Most trainers don’t think of themselves as having “distribution channels.” They think that “distribution channels” are Wal-Mart or Kroger or Amazon. They think of them as solely for retail offerings.

Well – let me tell you this is not the case.

Your distribution channel could be your monthly newsletter, your joint venture with the local chiropractor, the seminar you give and any number of other things that get you, your service or your product in front of the prospect.

You can tap into the upside leverage of these distribution channels by capitalizing on the relationships that you’ve already created.

The obvious example is the e-mail list. That is the internet marketer’s distribution channel. Many internet marketers might only sell an e-book to their list. But how could they capitalize on those relationships they’ve built with their subscribers outside of that basic sale of the e-book? Here are just a few ideas:

Offer an affiliate’s product.
Offer a follow up e-book.
Offer information through a different medium (DVD, CD).
Offer a deluxe package with a combination.
Develop a membership site.
Offer a group mentorship program.
Offer one-on-one phone coaching.

I could continue on and on, but you get the picture. So if you already have the distribution channel in place, you need to look for ways to maximize it. Perhaps you could create other peripheral services to offer prospects. Maybe you could create products based on your expertise. They key is to do what I discussed in yesterday’s post – leverage each relationship. You have more channels of distribution than you’ve probably ever given thought to – it’s time to discover their hidden opportunities.

I’m going to briefly deviate from my discussion of the Business Drivers and tell you to go to Alwyn Cosgrove’s blog and read it NOW! If it doesn’t make you recognize the value of investing in your knowledge and education – nothing will.

Don’t wait another minute to read his post…

http://www.alwyncosgrove.blogspot.com/

P.S. – Make sure you’re one of the 5%.

Your relationships are usually an untapped area of upside leverage. Think about the various personal and professional relationships that you have. How are you currently leveraging them?

Could you bring together fellow fitness professionals and start your own mastermind group?

Could you assemble a group of trainers to put together a product – like I did with Fitness Riches?

Could you find a mentor through a current relationship?

Could you form a strategic alliance or joint venture with a local business person that markets to the same type of person that you do?

Could you get affiliates for your online sales?

Could you start your own “(Your Town)’s Best Businesses Group that not only referred to one another but also acted as something of a mastermind group?

Could you ask your clients or friends or family members (or anyone that you have a relationship with) for referrals?

Could you educate those same people for what you’d look for in an employee and have them refer prospective employees as well?

Could you gain knowledge or wisdom from anyone you have a relationship with? Could you present your current challenges to them and ask them how they succeeded under similar circumstances? Could you ask your clients – active and inactive – what you could do better? Could you borrow successful processes from anyone you know?

The potential upside of your current relationships is virtually endless. Don’t miss out on the opportunities all around you.

Quick announcement before the content. Your “filters” may have trapped my email yesterday. I’m having a

S
A
L
E
in honor of Halloween.

Check it out before it expires tonight at 11:59PM EST!!!
http://www.trainandgrowrich.com/halloween.htm

*****
Make the world a better place – PART I

A couple of year’s ago, my mother, in her infinite wisdom, got a subscription to Reader’s Digest as a Christmas present for my sister, brother and me.

I continue to get it to this day.

Yeah, yeah, I know. What person under 100 years old reads Reader’s Digest?

It’s actually pretty interesting. It’s easy to read. And it’s usually got a lot of very positive and uplifting stories.

And oddly enough, it’s usually how I stay informed of the more negative happenings in the world. For instance, this month the cover story is about the latest Identity Theft scams.

I’m a HUGE believe in surrounding yourself with as much positive energy as you can.

Positive stories.

Positive music.

Positive people.

Postive ANYTHING.

I do this because I know the results it produces in my life.

While you do need to be informed of what is going on in the world – the good, the bad and the downright ugly – you DO NOT need to be inundated with it.

You DO NOT need to live in the fear based society most mainstream society does.

For me, and you are MORE than free to think and feel differently, I think the World becomes a better place when you build yours from the inside out.

Meaning, it’s all pretty simple.

When you make choices that are for YOUR highest good everything else in the world just falls into place.

And you are more capable of making those choices when you remove people who are inundated with fear and negative energy from your life. Believe me, their ‘vibes’ will and do clash with your ‘vibe.’

I know I’ve been harping on this lately, but the more negative energy I remove from being anywhere near me the better my life gets.

And when I wrote about this same subject a couple weeks ago I received this email from fellow fitness pro Jim Horning:

******

‘Jim,
Right on…you really nailed it this time.

I feel completely compelled to comment on this because I’ve come to a conclusion that is profound regarding my personal training career: A negative client who does not desire to change their attitude is NOT worth the money…EVER.

I’ve always known this; but, sometimes you make sacrifices when you are building a client base or saving for something special, etc. In the end, it simply isn’t worth it. If they are honest, admit to me their attitude stinks and they want to be called on it and assisted with their attitude shift, I’m in all the way; otherwise, there’s the door.

Keep up the good stuff!’

Jim Horning

******

I’ll be following up this email with two more very soon:

1- How to create multiple revenue streams so you can afford to work with only those clients you want to.

2- How to create a publicity plan WITHOUT being inundated with negative media influences.

Who loves ya?

Yours in prosperity,

Jim Labadie
http://www.trainandgrowrich.com/halloween.htm

PS- Please be sure to forward this to any fitness professional you feel it will help.

PS- Remember, it ends tonight!!! http://www.trainandgrowrich.com/halloween.htm

Now don’t let me confuse you. Your business model is different from your strategy. It’s essentially the means in which you use to achieve your strategy. Let’s say your strategy is to make $100,000 per year by converting complimentary sessions into paying semi-private clients.

Now let’s say your current business model is:

1. Charging $25 per client / per session and you work with three clients at once.

2. You use the Phil Kaplan “Pay As You Go” approach.

3. You rely on sessions to provide all of your income.

This results in the average “training lifetime” of your clients being 6 months and they typically train with you two sessions per week.

So this means that:

1. Each client has a lifetime value of $1200.

2. You have to do 1334 sessions to gross $100,000.

3. You’ll have to have approximately 84 clients over the course of the year.

Now, let’s say that you change your business model to the following:

1. Charging, on average, $30 per client / per session and continuing to work with three clients at once.

2. Using the EFT approach for billing and offering 4 and 12 month options.

3. You offer a 10 Week – Group Weight Management Program that 40% of your clients participate in at $349.

4. You offer an autoship supplement program that 50% of your clients participate in. Their average purchase is $80 per month and you get 25% of that ($20).

These changes in your model result in the following:

1. The average “training lifetime” becomes 9 months because of the change to EFT and the more comprehensive approach (including nutrition.)

2. So now, before any of the “back-end” revenue, you have already increased the lifetime value of each client to $2160.

3. If you choose to continue to work with 83 clients over the course of the year, you’ll make an additional $11,586 from your Group Weight Management offerings.

4. If you choose to continue to work with 83 clients over the course of the year, you’ll make an additional $9,960 from your autoship program.

5. If you do the same 1334 sessions, you make $120,060 from those sessions.

This doesn’t even begin to account for the money saved in marketing costs since the clients will be with you longer.

So, if you want to work about the same amount of time, you’ll make over $41,000 more by changing your model. If you’re happy with $100,000 and would rather work less, you’ll be able to reduce your workload by about one-third.

So if you’ve never given much thought to your current business model, start evaluating now. Look at ways you can improve client acquisition, lifetime value, etc. Add in other steps or dimensions to your business and watch your profits go through the roof.

Yes, I’m having a Halloween party and you’re invited!

Check out all the details RIGHT NOW because it will be over way before the first trick or treater rings your doorbell.

http://www.trainandgrowrich.com/halloween.htm

The only thing scary thing about it is if you didn’t take advantage of it.

http://www.trainandgrowrich.com/halloween.htm

Who loves ya?

Happy (Early) Halloween!

Jim Labadie
http://www.trainandgrowrich.com/halloween.htm

PS- I’ve only put the link in here three times already. So in case you missed it…

http://www.trainandgrowrich.com/halloween.htm

The next “Business Driver” I’m going to discuss is Capital. This can be broken down into human capital (your staff), intellectual capital (your knowledge) and financial capital ($$$$).

Are you leveraging each to the maximum? Probably not.

Do you train your staff on sales, retention, generating referrals, delivering great service and overdelivering on what you promise to your clients? Do you train in semi-private settings or small groups to leverage your staff’s time?

If you can get each of your staff members to improve 10-20% in each area you’ll double your business.

Are you leveraging your knowledge by packaging it and selling it as a product, writing articles for publicity or giving talks to groups to pre-sell prospects? Are you training your trainers with what you know? Are you creating systems to teach your staff what you know?

Do you get the maximum return for the money you spend? How about your marketing dollars – do you track the ROI? How about the wages you pay your staff? Do you track performance relative to compensation? How much money do you waste on unnecessary stuff?

By studying these things you can become your own “Profit Expert” and reduce unnecessary costs or expenses and uncover untapped opportunities or underperforming areas.

It’s you’re responsibility as a business over to become an RO (Return On) Expert – you need to understand the return on your investments in all areas – money, energy, people, activities and opportunities. Think of it like investing money – why settle for a 1 or 2% return if you can get 10 or 20%?

Your business is your main investment – treat it accordingly.

Your strategy is the real purpose behind your business. Described another way – your strategy explains your entire approach to doing business and how each facet of your business moves you toward your desired outcome.

Most fitness businesses have strategies that are reactive. They essentially fly by the seat of their pants hoping to generate enough revenue to pay their bills and get to the next week.

The first thing that you need to do if that describes you is to adopt a more proactive strategy that has a long term objective. So set out what you want for you and your business.

Do you want lots of employees? Do you want your own facility? Do you have a revenue or volume goal?

Decide the specifics of what you want – that’s where you begin.

Now look at other successful businesses in and out of the fitness industry and try to identify what their strategy is. Then work backwards and see what they’re doing to achieve their desired objectives.

Then it’s easy. Take your specifically define objectives and develop an operating approach that will give you the results you’re looking for in the shortest amount of time. Be clear on what specific actions, approaches and systems will bring you your desired outcome. Use the successful businesses that you’ve studied as your model.

Changing your strategy can yield huge results. I’ve seen some businesses double or triple their results in a matter of months by changing strategies and implementing the steps that lead to the desired result. In our health club – we re-defined our strategy and were able to see dramatic results in a month.

So here’s the Cliff Notes Version:

1. Define desired outcome.
2. Study other successful businesses.
3. Work backwards from desired outcome to current position.
4. Take action.

If you want to see how we approach this, click here:

http://www.fitnessconsultinggroup.com/businessactionplan.html

Marketing may have the greatest upside leverage of any of the nine Drivers.

How, you ask?

Simple. A bad ad, sales letter or brochure costs the same as a good one. A bad sales presentation takes the same amount of time and energy but results in fewer (and smaller) sales.

So – where do you begin?

Know your numbers.

You can’t improve on an ad if you don’t know what the control (the marketing term for your base ad or letter) pulls. Figure out what each marketing attempt converts. Figure out what your closing percentage on sales presentations is. Figure out what your average package / program value is. Once you know these baseline numbers, then you can work on improving on them.

Here are three ways to get started:

1. Look at what your best salesperson or trainer does and have everyone else emulate him / her. If you have someone that stands out – maybe it’s you – then have other staff members model their behaviors and techniques. This doesn’t exclusively mean closing initial sales…this can mean who gets the most referrals, resigns, upgrades, supplement sales, etc. Model success.

2. Look at what other successful trainers do. Look at how they advertise and market. Look at their web sites. Ask them. Buy their products – both the ones that are geared for trainers and the ones geared for the general public. Don’t bother reinventing the wheel. Too frustrating and it takes too long. Take what others do and make it your own. (Do I really have to remind you not to steal people’s stuff word for word? Model successful trainers – don’t plagiarize them.)

3. Look outside the fitness industry. Look at other businesses that have discovered or refined approaches that produce great results. Modify them and make them your own. That’s exactly why I’m reading the book about Starbucks I mentioned in the last post. I’ve never even had one cup of coffee – but Starbucks has successfully captured the market that fitness professionals typically seek and have a tremendously loyal following among both consumers and employees (or partners – as they call them.) Good enough for me to want to learn more.

Then plug the things that you learn into your systems (you use the FCG Marketing Template don’t you?) and watch your business grow exponentially.