BCRPA APPROVED WORKSHOP How to Start and Grow Your Fitness BusinessPresented by Rachel L Seay,BCRPA Certified, Owner of Inner Fit Studios
"Once the what is decided, the how always follows. Wemust not make the how an excuse for not facing andaccepting the what.“Pearl S. Buck
Today’s Outline• Part One: • Part Three: – The Entrepreneur – How to Grow a Business – Start with Why and Generate Income – Three Stages of Business • Emerging • Bonus - Presentation • Expanding • Influencing• Part Two: – How to Start a Business Brain Storming Sessions
The Entrepreneur Creative Believe in Process Have No Plan B See a Vision Don’t Worry about How Hard Worker Enough customers to go around... Make it happen!Are you an Entrepreneur? How do you know?
Why...• Why do you want to start your own fitness business?• Why do you want to grow your fitness business?Write Down Your Why...
The Big Question... Why are some peoplesuccessful at running a businessand generating large profits and other’s fail miserably?
The Answer…“Successful People, think, actand behave in the exact same way” Simon Sinek“People don’t by what you do, they buy why you do it” Simon Sinek
Neo-Cortex Limbic Brain •Rational Thinking •Feelings •Language •Drives Behavior & Decision Making •Analytical Thoughts •Gut Reactions •Motor Commands •Loyalty & Trust •Conscious Thoughts •Trauma is Stored – Locked Channels (EMDR)HOW PART OF YOUR BRAIN HOW & WHY PART OF YOUR BRAIN
Why do you want to start/grow your own fitness business? How ... What ...Quick Tip: When working with your client’s help them figure out why they are training...
Why are you starting a Business?Rachel “I am starting a fitness business because I believe there is abetter way to help people find a love for fitness and lose weight. I willfeel a sense of accomplishment by helping others reach their goalsand seeing the expressions on their face when they realized theyfinally did it.The way I am going to grow my business is by educating myself onmarketing, talking to people who already own theirbusiness, attending seminars in both fitness and business, stayingtrue to my vision, being open to change, remaining humble andbelieving in myself even when times get tough.Each week I will spend time working on my business, setting newbusiness goals and being grateful that I have the opportunity to helpothers.”
Complete Your Why Statement:“I am starting/growing my fitness business because I believeI will feel ____________, _____________, and___________________. Having my own business will allow meto __________________ and ________________________.The way I am going to start and grow my business isby __________________________, ____________________,and _________________________________.Each week I will notice changes in__________________, _________________, and________________________ and that will keep me motivatedwhen times get tough.
Three Stages of Business 1.Emerging 2.Expanding 3.Influencing “Every successful business owner walks through these stages, when you master each stage, youare able to grow your business systematically and be rewarded financially.”
As you travel through each stage, think about which stage (s) resonates with you? Write down where you feel yourbusiness is at and where you want your business to go...
Stage One: Emerging To Rise, To Be Visible, To Be Seen...
Emerging • You are in this stage if: • 0-10 Clients • Don’t have a business niche • Alone • Trying different thing • Not sure exactly what you are doing, how you are doing it or how to explain it but you know something is about to happen...“Everyone from Steve Jobs to Justin B begins in this stage”
Emerging• Challenges: • Lack of clarity • Overwhelmed about where to start • Lack of focus • Suffer from “Bright Shiny Object Syndrome” • Hide behind your computer instead of marketing, networking and getting customers • Keep Putting things off • Financial risk • “Perfectionist Syndrome”
Emerging• State of Mind: • Uncertain if you can run a business but have a desire to ... • Have a need to do things a different way • Scared for the future financially • “Standing on the ledge” • “Imposter Syndrome” Feel you don’t have enough to offer because you think there are more qualified people out there
Emerging• Goals • Determine your niche • Identify your ideal client: • Age, gender, fitness level, time of day, generation, skill set... • Who is your dream client? • Create products & services based on niche • Identify your passion• Rewards • Be Your Own boss • Ability to create your visions • Make your own schedule • FREEDOM!!!
Emerging• Marketing that Works Best: • Referral Programs (10 % off) • Networking BNI International www.bni.com • Speaking Engagements, Seminars, Workshops • The BLT Model – Believe, Like, Trust • Complimentary Sessions/Trial Classes • Approach businesses who have your ideal clients • Online Marketing Presence ... • Building relationships one at a time
Emerging• Strategies: • Follow the Zig-Zag Path • Focus on Simple Proven Methods • 80/20 Rule • Seek Guidance – Mentors ...Learn from other successful businesses like the one you want to accomplish http://stormfitness.ca/ • Provide value to your clients – Solve their Problem • BE OPEN TO CHANGE! Nothing works out as you expect – Roll with it • Keep moving forward – believe in your vision
Stage Two: Expanding• You are in this stage if... • You have a niche that is making money • You are developing leverage • Have a loyal following • Getting overwhelming amount of referrals • Brand/Name Recognition • Require more space or staff
Expanding• Challenges: • Wasting time on things that are not making you money (80/20 Rule) • Lack of multiple streams of income • Need to Develop Systems in Your Business • Staying Authentic • Pleasing Everyone Syndrome • Hard time saying “No”
Expanding• State of Mind: • Ready to grow • Ready to maximize business • Ready to explore multiple streams of passive income for business • Ready to live the lifestyle you desire • Have a hard time letting go of responsibilities
Expanding• Goals: • Passive Selling - Create information products • Write books, programs, cd’s, dvd’s, video series • Build your list • emails, emails, emails • Maximize Profits Increase prices – honour loyal customers • Hire Staff or Contractors • Maximize Your Business • Programs, hours of operations, rent out un-used space
Expanding• Strategies: • Schedule time to Work on Your Business and in Your Business • Focus on what you are good at – hire people for the rest • Only focus on clients that match your ideal profile • Refine Niche and Marketing Your Brand • Systemize Your marketing to drive traffic to your programs and services to get leads • Create Multiple Income Streams – 80/20 Rule
Expanding• Rewards: • 6-7 figure income – sky is the limit! • More time with passive income • Comfortable lifestyle • Sense of accomplishment “Remember where you started and how far you have come, stay grounded and grateful in the process.”
Stage Three: Influencing• You are in this stage if: • “OMG, they are following me?!!” • Stepping into the spot light more • Embracing people looking up to you • Have a team that supports your growth • Competitors are copying what you are doing – “Often Imitated, Never Duplicated” • Have created leverage with your brand and list
Influencing• Challenges • Too many opportunities • Spreading thin in personal and professional life • Too many “Yes” commitments • Fishing in the same pond • Losing your lifestyle for the business • Imposter Syndrome – have to fight it at times...
Influencing• State of Mind: • People are looking to you for leadership • You know you are a role model (like it or not) • You have a vision that is so powerful it may actually scare you – how will you serve people? • You are ready to own the responsibility • Restless feeling, you want more... • You know you are sitting on a multi-million $$ idea • Ready to stop playing small
Influencing• Strategies: • Learn to say No, practice saying No – Say no to things that will not benefit you or your business • Learn to speak your mind • “Those who mind don’t matter, those that matter don’t mind” • Imposter Syndrome – Get Over It! What can you do that no one else can do? “Be who you are, everyone else is taken”
Influencing• Rewards: • You know your brand • Decision making becomes easier • You speak freely and with confidence • Income exponentially increases • Amaze yourself some days • Feel in your element • Attitude of Gratitude
Benefits of the 3 Stages• When you know what stage you are in, you can focus on strategies to master that stage and head into the next stage• Embrace the challenges of each stage and stay aware of what they are...• You can be in two stages at once if you have multiple revenue streams (professional & client streams)• There are 3 distinct phases of growing a business but not one way to run a business. Find a path to run your business that works for you and your clients.
Start UpThe Basic Steps:• Naming Your Business (website available)• Business license from City• Business Bank Account & Merchant Services• Book Keeper• Accountant• Lawyer• Studio Space – Rent or Lease Space• Start Up Money: – Savings, Line of Credit, Loan, Signature?
Your Own Studio• Location – I Zone for fitness, accessible, city ...• Start with a 1 Year lease on a small space (less that 750 square feet) with the option to renew, grow your business and then move...• What programs are you are going to run will determine your equipment needs...• Office Space – layout cheap with paint and a few accessories• Merchant Service Terminals – Any Bank
Studio Mistakes ...• Sign a 3-5 year lease or purchase a unit• Start too big and can’t grow the business• “Bright Shiny Object Syndrome” Blow Budget• Don’t talk to other owners or mentors• Create programs at wrong time of day• Avoid networking in local community
Products/Services• Provide What People Want: • Need or Desire in the Marketplace • What problem are people looking for a solution? • Ask the Right Questions: • What’s your single biggest challenge? • What result are you looking for? • What would help you achieve this? • How much would you invest in? • What would you type into Google?
Creating a Product/Service• Brainstorming Session: • What is missing in the industry? • What skills/experience do you have? • What excites you about the industry you’re in? • Can you create a product(s) for the service you are providing? • What is your ideal client? Define Your Niche • Age, fitness level, gender, problem, ability, skill set, goals, time commitment
Creating a Presence• How Do People Find You: • Website – yola.com, wordpress.com, • Buy a domain with your business name • Social Media • Facebook, Linked In, Twitter, Ning... • Blog Site – put up helpful information for current customers • Wordpress.com, Blogger.com • YouTube Channel
WebsitePurpose of Websites:• An extension of the brand• Invitation to the Business• Information• Build Lists• Generate Sales & LeadsTips: www.stormfitness.ca• Welcome Video or Brand Video• Offer of product in exchange for email list• Success Stories and Testimonials• Keep it simple, less words the better
Social Media• Content is Key! • Value & Sharing Content • Personal Page versus Fan Page • Avoid Selling • Viral Content – funny, heart warming, shocking, something to talk about • Why do you share content? • How can you make people want to share your content? • How can your business stand out? (Sh*! Women Say to Personal Trainers – www.streamfit.com
YouTube Video• Video is Next Big Move! • YouTube is predicted to pass Google as a search engine by 2013 • How can your business stand out? (Sh*! Women Say to Personal Trainers – www.streamfit.com • YouTube Channel - StreamFittv • Content • Layout • Target Audience
MarketingDefinition: The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large.
Marketing Mistakes1. Thinking online marketing will be all you need2. Thinking social media will be your end all3. Thinking that sending out one message about a product or program will sell it4. Thinking you do not need to build your list5. Need for perfection before Marketing the Product or Service
Email MarketingBuilding Your List:• Collect emails from current clients• Capture people’s attention online• Offer complimentary sessions• Networking – No Spamming, invite to join your list• Offer a value online Opt-In – James Roche – JJ Virgin – Doreen Rainey
Business NetworkingDefinition: An activity by which like minded business people gather, connect and help each other grow their businesses – weekly or monthly meetings.• BNI (World Wide), Women’s Network• What is Your Networking Statement – What do you do?• Create Your Own Network
Referral MarketingDefinition – Building a relationship with a specific partner to cross promote services and build client list.• Connect with Professionals that work with your target customers• Chiropractors, Physiotherapists, RMT, Trainers, Business Owners
Information Products• Types of Products: • Books • E-Books • DVD’s • Audio Recordings • Programs • Workshop Handouts• Sell Through Marketing Channels
Uses for Info Products• Build your Email Marketing List• Build your Fan Pages on Social Media• Increase your Credibility• Give value to Products and Services• Traffic to your website• Increase Income
Creating Information Products• Step By Step Guide: 1. Topic – What are your reader’s willing to buy? 2. Create an Outline 3. Record It – Video or Audio 4. Transcribe Audio – Working Manuscript (Word) to PDF for E- Book 5. Edit Content 6. Package Content – Presentation – Graphic Designer 7. Catchy Title “5 Biggest Mistakes People Make When Trying to Lose Weight” or Solution to Problem 8. Promote Product • Free promotion product or are you selling it? • What marking channels will you use?
Key Word Searcheswww.keywordspy.comEnter a Search Keyword Phrase• PPC (Pay Per Click) =10-50• CPC (Cost Per Click) =$1.00-$2.50• Search Volume = 15,000 to 80,000Use these keywords for your tags, title of products and services – helps clarify what people are searching for online and if you can be within the competition
Social Media MarketingWhat People Want: • Solution• To be entertained – Create a presence• Deals and discounts• Contests and prizes • Benefits – Free to sign up• Valuable content – Easy to get people signed up• Sense of community • ChallengesWhat People Don’t Want: – Little leverage is built• Be sold to – It’s free and people want free stuff from you• Repetitive campaigns – Needle in the hay stack with• To be mislead all the competition
6 Keys to Success1. Authenticity is Your Strength2. Passion – 3 Years of No Pay3. Thriving Under Pressure4. Say No!5. Letting Go...6. Be a Great Story Teller