Business Building Blocks
There are a few key building blocks that every business should have in place to succeed. These are not necessarily things you are doing internally in your company, but they are components that are necessary for success. Every business needs to have 3 or 4 people on their team who are outside the company and who are working to ensure the company is going to be the most successful in the FitPro community.
Lawyer. Your lawyer should be with you and going over your company from the very beginning. If you have not used a lawyer in your initial set up, you need to find someone now who is ready and able to assist a FitPro with getting their business legally fit. The attorney should be helping you with contracts, leases, waivers, client interactions, copyright, trademarks, and registering as a corporation. All of these items are essential for any FitPro to make sure you are getting the most out of your company. Having an attorney who is well versed in FitPro is also key. You don't want someone who has written a book about yoga, or is a former gym rat, or a worshipper of CrossFit, while they may make excellent client's for the gym, they are likely not the best fit for your counsel. You need someone who knows the ins and outs of the industry from the inside, someone who has owned a gym and work closely with a variety of different FitPros as no two gyms are the same.
Financial Adviser. Your financial advisor should understand how a FitPros cash flow works and the best ways to maximize your income to help not be handcuffed to your gym 24/7. There is a love of the gym and the work that you put in to it, but part of owning a business is the ability to step away with out any sort of financial impact on your personally or to the bottom line of the gym. I am not talking about a tax preparer. the tax code does not really care what industry you are in and while you need someone you trust to complete your return, you can use someone who is local to you who is well versed in business returns. The person I am describing as your financial adviser should be someone who works with and your boss, who can clearly see where to maximize your profits and where you can cut overhead. The whole point of being in business is for it to be financially fruitful, this is the person you want to rely on to do that for you.
Business Coach. Your business coach is someone who should be your go to for strategizing new and innovative ideas for your business. A good coach helps you to implement you plan and to continuously grow your business. They should be providing you with advice and feedback on current programs and incentives and challenging you to create new programs that will reach an even bigger population. The tools in the toolbox will be innovative and provide you with everything you need to be successful. Most importantly as the world shifts, they will be there to help you to pivot and absorb the changes as opposed to pushing against them and even ultimately closing.
Marketing Expert. The marketing expert should work hand in hand with your business coach, maybe even as partners or on the same team. The marketing expert is the one who really sells your programming to the masses. They make the content enticing and push hard to sell it. It becomes an offer the public cannot refuse. If you have boring marketing or it is not set apart form everyone else, you will blend in. You need consistent branding, color scheme, and message. The marketing expert can get on that path and make sure everything is streamlined. Once they get you to the point of having everything streamlined, they can also help you to stand out with your message and deliver the same or similar offer with a new voice.
Each of these experts should be aware of what the other is doing. If you take away one of these blocks, you will be left with an uneven structure that will eventually fall. It is key to choose people who are experts in the FitPro field and who have experience in assisting, growing and working with a FitPro. Your industry is not like any other in what you offer and the challenges you face. We have some recommendations for excellent people in each of these categories, so stayed tuned for that information later this week. We are ready to build you the best team possible.