Steps to Take When Something Doesn’t Go as Planned in Your Business

I will be the first to tell you that things don’t always go as planned. During one of my recent live videos, I was supposed to be sitting all cozy in a coworking space. However, the coworking space was closed and I had to figure out a way to go LIVE using the tools I had available. If you didn’t see the live video, let’s just say I made it work with my cell phone and one of the seats in my car. 

Now, I am hoping that when things don’t go as planned in your business, you can find unique ways to figure it out and keep moving forward. But I also know that there may be a time when you decide to permanently close your doors. We have had a couple of clients come to us recently with that decision. And let me tell you, it didn’t mean that they didn’t have amazing plans and even better backup plans. 

They had everything they needed for a successful business model, so closing was definitely not anywhere on their radar. But I can definitely say they have valid reasons. 

One of our clients that is closing has managed to work her way out of debt, a lot of debt, and she decided she wasn’t willing to go back into more debt for her business. She hasn’t closed yet, but she is going to be closing. 

Another client had planned to sell her business back in January. When the government shut down businesses like hers, that sale fell through. She managed to find a new buyer recently, but the price she is getting for her business is now a lot less than she had hoped she would be getting. Yet, she’s still seeing profits and she has decided that this is the right time for her to get out. 

There are so many different scenarios out there, but I know there are a lot of people in the fitness industry who are considering this. There are also a lot of questions around what you need to do when you close a business. 

I have managed to come up with 10 things today that you need to think about when you are closing a business. A few of them are practical and need to be taken care of in order, while others cover the emotional aspects to close your business. 

10 Things You Must Think About When You are Closing Your Business

  1. Contact an Attorney and Your Accountant

You will need an attorney throughout this process, because you could face some legal ramifications when you close. Hopefully, you have a relationship with an attorney, so you can go to them and ask questions. This will especially be helpful if you need to cancel a lease. 

The good thing about doing this with an attorney is they will keep all of this information confidential. They won’t be spreading rumors that your business is closing. 

  1. Tell Your Clients You are Closing

Once you have begun the process of closing your business, you need to speak with your clients. You must tell them directly, because they have been your biggest supporter over the years. 

  1. Take Care of Your Clients

Since your clients depend on you, I recommend planning on taking care of them after you make the decision to close your doors. As a fitness business owner, you want to make sure that your clients’ health is a top priority. You may find that you can refer them to a competitor or even sell your client list to a competitor for a small fee. This will allow you to make a little bit of money, while taking care of your clients at the same time. 

  1. Sell Your Assets

Any equipment you own can be sold to get some of your cash back. This will keep you from paying to store it all and losing out on even more money in the future. 

  1. Cancel Your Contracts with Vendors

Before you can close your business, you must cancel your contracts with vendors. I recommend doing this sooner than later, so you can have those final payments clearing your bank accounts. This is also the time to thank your vendors for their time and even give them a testimonial if possible. 

  1. Start to Close Your Bank Accounts

If you implemented Profit First into your business, this is when you can transfer all of your money into your operating expenses account. You can then close all of the other bank accounts you have open for your business. I would make sure all payments that were coming out of those accounts have cleared first. 

  1. Close Your Last Bank Account

Once all of your automatic debts have cleared your operating expenses bank account, as well as payroll checks and other charges, you can close that account. You can transfer any money that is left in there into your personal account first. 

  1. Contact Your Secretary of State to Begin the Dissolution Process

The dissolution process is different for each state, so I can’t speak to all 50 states. But you will be able to find the process on the Secretary of State website for your state. You must go through this process, because not every state is as good about automatically closing your business after a couple of years. Some states, like California, will continue to charge you every single year if they do not have your dissolution paperwork. This is also the time to cancel your business license if you have one. 

  1. File Your Final Tax Return

Your final tax return won’t be until the following spring, so you may have a little time to complete this step. Simply take the same documents that you always take to your tax preparer and make sure they mark the box that states “final tax return” on it. You definitely want to make sure they check this box, so you don’t get penalties for not filing tax returns in the future when you don’t have to file tax returns. 

  1. Grieve Accordingly

You are going to go through many emotional stages when you close your business. You are going to feel grief from closing your business. While I am not an expert on grief, I can tell you that grief comes in stages. There are five stages of grief in all. The first stage is denial and that is followed by anger, bargaining, depression, and finally acceptance. There is no rule that states how long each stage will last or the right way to grieve. 

We just need to be aware of the stages and practice self care, while continuing to take care of yourself and your body. Also, let the people around you, who are supporting you, take care of you. 

I know I just covered a lot of information there, but I would love to know how you are feeling about what I just talked about. I feel it is important to process everything, so you make sure you get all of the things right. 

Of course, you may not be considering closing your business right now, but you might know someone who is. Feel free to invite them into this group, so you can tag them and let them see this important information. 

Let’s keep these conversations going, so we can all learn from one another. Feel free to send me a message if you are struggling and need to set up a time to talk or if you have a topic that you need me to share my thoughts about in a future post.

Do You Deliver?

After I got out of the service in the early nineties (1990's, not 1890's wise guy) I got a job as an assistant manager at a Domino's Pizza.

Back then Dominos had a very specific brand promise - Deliver your pizza in 30 minutes or you get $3 off (it used to be 30 minutes or free, but that only lasted a couple years, as it turned out to be a very unprofitable strategy).

This was a huge differentiator in the marketplace. Instead of waiting for what seemed like forever, you could ring up Dominos and you knew you were going to be chowing in 30 minutes. And if they didn't, you could tip the Pizza Driver $3 more, right you cheapskate?

So what's that got to do with your fitness business? 

Well you have a brand promise too, even if you don't formally call it that. People seek your services based on your advertising, or even better, word-of-mouth because of all your raving fans. There is an expectation every customer has when purchasing your service, based on what they have seen or heard about you.

Need #4 on the Sales Level of the BHN is Delivering on Commitments, and the question we ask is;

"Do you fully deliver on your commitment to your clients?"

The quickest way to lose business reviews and get a poor reputation is to let your customers down - to not fully deliver on your commitment to them.

There are subtle ways this can happen. If you advertise high energy, high intensity group fitness classes and play polka music, not only are you going to let people down, you are probably going to have someone suggest counseling.

Seriously though, this is part of the sales cycle we don't tend to think about as much, and we tend to be "either/or" rather than "both/and".

As in, either I am focusing on sales or I am focusing on service, rather than having the systems in place to make sure both are being done, all the time. 

One way you can identify if you have a problem delivering on your commitments is by measuring your churn rate. If you have as many people going out the door as you do coming in, you have a problem that you need to hone in on. Customer acquisition is a huge time and money suck when this is happening, and it can be pretty emotionally draining as well.

As an aside, we were always pretty pleased with ourselves that our retention rate was about 97%, until we realized that even at that, we were losing over 35% of our clients a year. Ugh.

Delivering on your commitments means doing what you say you will do, every time. and if for some reason you can't, you need to communicate why, every time.

Are you delivering on your commitments? Do you have the feedback system in place to prove it? Do you have systems to make sure sales and service are not mutually exclusive?

Make It Happen!

Finding Your “Sweet Spot”

Need #3 on the Sales Level of the BHN is Client Conversion, and the question we ask is;

"Do you convert enough of the right prospects into clients to support your needed sales?"

Last time out we talked about what the "right prospects" for your business are. We know that not every lead we get in the door is going to become a client, that's just business. But if you have truly taken care to make sure you are attracting quality prospects for your specific business, you should be converting them at a predictable rate.

In the book Fix This Next, author Mike Michalowicz writes "Conversion is consideration of both sides. What do they want and what do you want." When those two things are in alignment, conversion naturally becomes easier.

We tend to focus on what the clients wants, which is natural. But have you put as much consideration into what you want out of the deal?

When we work with our clients using our Pumpkin Plan tools, one of the things we determine is your Sweet Spot. Do you get the most joy out of selling on price, convenience or quality? (hint: you can't successfully do all three).  What type of clients do you really enjoy serving? What products or services do you really love delivering? 

Is that what your company is doing, right now? 

It may seem strange to introduce the "joy" component so deeply into a discussion revolving around sales and client conversion. But life is too short to serve customers you don't like with an offering you hate delivering at a price point that you know is too low. You didn't start your business to get the life sucked out of you, but that's sure to happen if you don't nail your Sweet Spot down, like right now. 

I'll come out and say it. I strongly dislike delivering personal training, I like semi-private better, but I love coaching group fitness. Don't be a hater, it's just what I like doing. We'd been open a few years and were being encouraged by a coaching program I was in to start doing more semi-private and personal training, and I let myself get pressured into it.

The result?

We failed to get any traction, and it's not a secret why. I didn't like personal training, and I was convinced our group training was just as high quality as anything I could do semi-private. My heart wasn't in it, I didn't feel good about marketing it, and it didn't get the attention it deserved. 

Bottom line. I found no joy in it, so I self-sabotaged the effort. What a baby, huh?

Now you may love training clients one-on-one and have the most incredible semi-private offering ever. That's awesome. You do you. And don't let some expert tell you otherwise.

And once you find out what "doing you" means, ask these questions:

  • Is my company story consistent with it?
  • Is my pricing consistent with it?
  • Is the experience I deliver consistent with it?

When these consistencies are achieved, when you have found your Sweet Spot and are living by it in your messaging, marketing and sales process, converting prospects into clients becomes a much, dare I say it, sweeter process.

And I'll go one step further. If you don't find alignment between the customers needs and your needs, you will continue to waste money on marketing that doesn't work, a muddled sales message, and a stagnant business. 

And life is too short for that too.

Make It Happen!

Why You Need Accountability to Hit Your Goals

Have you been wondering how to keep more money from your business for your personal life? 

If you said yes, you are not alone! 

After all, that is the mission of for-profit fitness business owners! As an owner, you want to keep more of your money and have a lifestyle that you have dreamt of since you decided to start your business. This is the reward you deserve after all of the heroic work you do, as you support your members and clients in wellness. 

I would love to go over accountability today, as well as your money. These two things really go hand in hand. In your business, you help your members set health goals. Your members then use accountability to keep moving towards that health goal. 

Well, when I talk about accountability and money in your business, I want you to do the same thing. Here at Fit for Profit, we can help you set the money goals you want. We can help you with your vision and figure out what you want from your business financially. 

Once you have that figured out, you will need to use accountability to keep moving towards your goal. You will use that accountability to figure out what the baby steps are to back out of that big goal and figure out what the next step is. The following steps will also be created, so you have a flow to keep you motivated. 

Of course, there may be a time when you get to Step A and then decide that Step B isn’t really the best way to tackle the next step. However, you can use your accountability to review all of your options and then figure out what the next best step truly is. 

You can also use your accountability to reassess, if the steps you have decided on are not producing the results you desire. Maybe Step B wasn’t right. Maybe you should’ve tried Step C first or you should have placed an intermediate step into your plans. 

If you are working on your accountability with someone who has been successful with it before, they can help you do it right. This is the same thing you do with your members. You can help walk them through their accountability steps, because you have seen so many other members take the same steps with success. 

While everyone might not have the same experiences, you can still learn a lot from them. Those who have similar experiences can let you know what has worked for them and what has not. Those people with different experiences can still be a wealth of information, because some of what worked for them may still work for you. 

I can’t emphasize enough how working with people in an accountability group can be so helpful. You can use this group to get fresh ideas. This is really good when you feel a little stuck and unsure of which direction to take for the future of your business. 

In our accountability groups here at Fit for Profit, we always have past members coming back to check in. They are further ahead in their business than you are and they can help you see what is possible. 

Remember, accountability is reminding yourself what is possible and why you decided to do this in the first place. You know, we say, we want to keep more money. We want a bigger lifestyle. We want a better lifestyle. We want a different lifestyle. It doesn’t have to be bigger or better though. Maybe it is just different. 

What does different mean to you? 

Decide what your different means and remind yourself of that constantly. See what other people have accomplished and see what is possible in your business. Your accountability will keep all of this information fresh in your mind, so you are willing to put in the work. This work is not always going to be easy, because change is never as simple as it may seem. 

Holding yourself accountable is going to require different actions than what you were doing before. These actions can feel hard at times, so you must keep your goal in front of you in the form of accountability. 

When you are on your own, it’s really easy to forget. You begin to think, “Why am I doing this??”. You get stuck in the mud and you can’t see what is ahead. A group of people who are going through the same things, or at least having an accountability person, can keep reminding you of why you are doing what you are doing. 

You will see that the accountability you help your clients with is very similar to the accountability you will use with your finances. I would love to know what has resonated with you throughout this post. 

Are you looking for accountability? 

How do you respond to accountability? 

Do you normally have excellent internal accountability? 

Since you are trying something very different involving money, you may realize that you need some sort of accountability group. Or at least an accountability partner to keep you moving towards your new goals. 

I can’t wait to hear what your thoughts are on accountability and how you think you can be accountable in the future. Leave me a comment to share your thoughts or drop me a message on social media.

KMMP Case Study – How KMMP Helped Changed a Fitness Owner’s Outlook on Her Business

The Problem: 

Miquel Henderson had the same problem as many other business owners. Before implementing Profit First, Miquel would look at her outgoing expenses and either think that the amount of money left was either great, or in most cases, not so great. She would simply look at her numbers each month and then do her best to make the numbers work the best way she could. 

The issue was, since there was hardly ever any money in her accounts, she didn’t always have the money to pay her expenses. Miquel also didn’t know how to use the extra money she did have on occasion. 

The Solution:

KMMP allowed Miquel to look at her numbers in a different way than she ever had before. She was given the reinforcement that looking at things in a different way was okay. KMMP also encouraged Miquel to look at different account options, including a DRIP account. While many people are not ready for those extra accounts right away, KMMP allows business owners like Miquel to keep those accounts in the back of their mind. 

While Miquel might not be ready for the extra accounts for another three to six months, she knows they are available to her when it is time to take her business finances to the next level. 

The Results:

Miquel wasn’t sure she was doing the right thing when she started KMMP. However, she learned a lot from the very beginning and is so glad she took a leap of faith. Options like giving her employees a raise had occurred to her in the previous months. However, she didn’t think about profit distributions for her staff until she learned about it through KMMP. She is excited to now explore that option in the future. 

While Miquel wished she could be on East Coast time, so she didn’t need to meet so early in the morning, she loved every minute in KMMP. She hasn’t implemented everything she has learned yet, but is happy everything was so easy to understand. 

The only section Miquel had difficulty understanding was Module 7, but that was due to her not having the information she personally needed to make the necessary allocations. She is aware that there are so many extra accounts she should consider in the future and looks forward to the time when she can sign up for the ones that will work best for her needs.

Miquel is looking forward to the next year of her business, post-KMMP. She has major plans to bring in more profits, so she is ready to open those extra accounts and continue to take her business to the next level. 

Miquel can’t wait to keep connecting with Shannon, and the rest of the team at Fit for Profit, so she can keep implementing everything she has learned with KMMP. 

Are you ready to be the next Keep More Money success story?? You can join the Keep More Money workshop here. Join us and see how you can take your business to the next level!

Do Your Prospects Have That “Certain Quality”?

Remember when you were getting ready to launch your business? The excitement that you felt? All the hard work you had been doing was finally coming to fruition. Your space was setup and ready to go. Your equipment was gleaming. Your programming was the best you had ever crafted. Website up and running - check. Billing system ready to go. Time to open the doors!

And people did show up. And it was all good. Until it wasn't. 

You see the problem with people showing up is that they are, well, people! With all their quirks, problems, likes and dislikes and personalities. We human beings can just plain be hard to deal with sometimes. 

Which is why it is so important that we focus on getting the "right" kind of people through our doors.

Need #2 on the Sales Level of the Business Hierarchy of Needs is Prospect Attraction

But not just anybody will do. 

The right kind of person for your business doesn't mean that they are a good or bad person. But they might be a less than ideal fit for you and your gym. Every gym I have ever been in has its own unique personality. I'd fit in some, others not so much. It is crucial that you get this right, or you are going to be wasting a lot of time when it comes to selling. If you are a power-lifting gym, and you are getting a lot of interest from prospects looking for Yoga and Pilates, your messaging needs to be tweaked, just a bit. 🙂

In the beginning we just want bodies in the door, I get it. But as your business grows, you'll want your message to be laser focused on the clients you serve best, AND the clients that will serve your business best. If your space is high energy, with lots of laughing and smiling and joking around, don't be afraid to show that personality in your marketing. You'll get more of those type of people in the door, which will only add to your already rocking place.

Look I know this isn't a new concept. Client "Avatar's" have been around forever. That's not in question.

What IS in question is have YOU done the work to create YOUR ideal client? The client who has that specific need that for who your company is the perfect solution?

When you do, and you craft your marketing so it speaks to that person, you'll attract the right kind of people to your business, save yourself a lot of time and money, make more sales, and create more profit.

Attracting prospects with that "Certain Quality" matters. We can help.

Four Top Tips to Beat the Slow Summer Season for Fitness Business Owners

The summer months can be very slow for fitness business owners, and this summer is going to be presenting even more challenges due to our current circumstances. However, this is the perfect time to spend that extra time and energy you have and focus on what you love to do, which is work with your members and create amazing things for them! 

Have you been brainstorming any ideas yet for this summer season? If you haven’t, I would love it if you would at least consider the options we have come up with to help you get those creative juices flowing. 

Four Top Tips to Beat the Slow Summer Season for Fitness Business Owners

  1. Keep Communicating with Your Members

One of the first things you should remember to do is keep communicating with your members! This has been true forever, and you should be doing this all the time, but it is extremely important during these summer months. 

Do you remember when your clients were first becoming members? We suggested you had seven touches with them because that’s normally what it takes to convert a cold lead into a member. Some of those seven touches included sending those extra emails after class, sending text messages, saying thank you, and remembering their name when they walked in the doors. 

The summer season is the perfect time to get back to those seven touches, so all your members come back to you. This is especially important this year, and you should be doing this right now, so when you have your reopen date, you already have people ready to commit once again. 

  1. Plan Events

Planning events this summer might be trickier than in years past, since everyone is in different re-opening scenarios where they live. However, you should be thinking of what types of events you can do now and throughout the summer. If you can’t do in-person events yet, you can plan online events that will still foster that sense of community. 

This is the perfect time to encourage people to get outside where they can and get a workout in. That workout can be included in the event you are having at the time, whether it is a mile run, 5K, or a series of workouts that should be completed over a course of a few days. 

  1. Create Partnerships

People are looking to get outside during the summer months, and you may want to take advantage of that as much as you can with partnerships. Since many people are planning on camping and visiting parks, you can see if you can partner with those destinations. You can offer a yoga class or another type of class to those that are there. This is the perfect time and place to share your busines, who you are, and what you do. 

It is best to focus on the parks that are close to where your business is located, because no one is going to want to travel too far for your services. You can even be creative if you have a state park nearby and invite your members to take a class with you there. 

  1. Increase Your Online Presence

For years, we have been telling our clients that having an online presence is a really good idea. Well, this is the perfect time to increase that online presence with online classes and trainings. While this can be an additional revenue source right now, it will also be helpful in the future for those members who have moved away and still want to take your classes or those who don’t want to lose their motivation when they are on vacation. They can simply log on and take the class from wherever they are. 

This is the time to really start to learn what it takes to be a good online trainer and promote that. Since we are unsure if we are going to be facing additional restrictions in the future, having this online presence in place can be helpful no matter what happens long after the summer ends. 

You will want to promote this online presence to everyone in your community too, because there are always going to be people who can’t go to you. You may be surprised at how many new members you gain just from these online classes and trainings! 

I hope this has been helpful and it has generated some ideas for you. I would love to know what you’ve tried already this summer and which one of these ideas you are excited to try! Do you have any other ideas that you would love to try and share? I can’t wait to hear about everything you are doing for your business this summer!

How To Set Sales Goals That Make Sense

What are your company's sales goals?

You have one, right? Ok, I am going to go out on a limb here and say you do have a sales goal for your business. If you don't, no problem. I am going to explain to you the best way to set it.

For those of you who do have a sales goal, how did you arrive at that number? Was it based on past or current performance? What you have seen others achieve? What you thought sounded good? Something else?

I'll be totally honest. When I set the revenue goals for our gym, it was driven by nothing more than ego. In fact, in the beginning, it wasn't a revenue goal at all, it was the total number of clients. I figured when I hit 100 clients I'd be golden, never even taking the time to think what that actually meant revenue wise for the business. Or even more importantly, for me. (Yeah, I like to eat too). 

It wasn't until I actually got to the "cord-cutting" stage until I considered it. In other words, I had been working another job that I relied on to pay the bills. I knew my take home and what I was making from that job. But how does that translate to the business? After all, $10,000/mo in revenue didn't mean I was going to be shoving $10k into my pocket. But what did it mean?

And that's where Lifestyle Congruence comes in. Fancy term, simple concept.

All it means is "How much does the business need to be generating for me to take home what I need to?"

In reality it's probably the simplest of all the Fix This Next questions to figure out. But that doesn't mean it's going to be easy.

First you need to figure out the personal income you need to support your personal level of comfort. This is a need based number, not necessarily wants - not yet. For instance, when I calculated this number, I found I actually needed less than what the old job was paying me which meant my goal could be lower.

After you have calculated your personal income number, you need to know how much business sales income you need to be able to do that. Here's an example:

You find that your personal comfort number is $5,000/mo - a nice round number. 

Then you calculate how much you are paying yourself as a percentage of your business sales income. 

Let's say your current revenues are $10,000/mo and you are paying yourself $2,000/mo.

That means your Owner's Pay% is 20%. (($2,000 / $10000) x 100%)

So to pay yourself $5,000/mo at that percentage you would have to generate $25,000/mo in sales revenue ($5000/20%)

$25,000/mo = $300,000/yr. You now have a sales number that is congruent with what your personal lifestyle number is. It is a realistic calculation of what your sales goal needs to be. Not a guess, or a hope or a dream. Real Life.

And of course that number can be adjusted and modified. Think of what can happen if you run your business leaner, and now can pay yourself 25%, or 30% or more? That is where the magic happens.

But you gotta know your numbers first. We have the tools and coaching to help you make that happen. Let's talk about it.

Why You Should Schedule Time to Organize Your Small Business Finances

How are you currently dealing with your small business finances? Do you simply let all of the paperwork pile up until you have no choice but to deal with it? Or are you the type of person who tackles bill paying each and every day before shoving the paperwork into a box until the end of the year? 

Would you even believe me if I told you there was a better way to handle your small business finances? 

I am a firm believer that taking the time now to organize your small business finances will save you tons of time later. Plus, once you have a system in place, it is easy to keep everything organized, so you never need to deal with massive piles ever again! 

Why You Should Schedule Time to Organize Your Small Business Finances

No Lost or Misplaced Paperwork

Have you ever spent hours trying to locate a bill, contract, or another piece of paper? This is not the best way to spend your time when running a business and that makes it one of the best reasons why you should start to organize all of your paperwork now. Once you have accomplished this, you can spend all of those hours you had used for frantic searches to create new programs and items for your small business. 

No Overdue Bills

The fees that you pay on overdue bills can add up rather quickly. All of those fees can cut into your profits too, so you will receive a smaller bonus every quarter. If you never want to pay a late fee again, you should spend a little time creating a plan to pay your bills on time. 

Always Know How Your Business is Doing Financially

I am always shocked when I talk to some business owners and they have no idea how much money they have in the bank or how much money their business makes each year. When you have your finances organized, you can easily find these numbers whenever you want to see them. 

Be Prepared for Tax Season

Tax season comes more than once a year for small businesses, since you must pay quarterly taxes. If you don’t want to be the business owner that takes a huge file box into the accountant’s office every time you have a meeting, you must get organized.  I guarantee that your tax meetings will go much more smoothly when you know where every piece of paper you need is located! 

Ability to Create Better Financial Goals

Once your finances are organized, you will find it is much easier to create better financial goals for your business. There are many reasons for this, but the main one is that you will see where your money is going and can make changes so the money is being spent on things that matter the most. 

Have you taken the time to organize your small business finances yet? If not, what’s stopping you? 

I know it can be an overwhelming task in the beginning, but before you know it, those papers will be safely filed where you can find them. I would love to take a few minutes to chat and see how I can help you organize the finances for your small business. 

Fix This Next Fundamentals – Sales

At the foundational level of the Business Hierarchy of Needs (BHN) is the creation of cash, otherwise known as Sales. 

Does that word bug you? If so, as a business owner, you have got to get over it. You can have the best product or service in the world, but until there is an exchange of value - your customers money for your products and/or services, you don't even have a business. 

And there is a lot more to sales than just getting the credit card number. In fact I would consider that somewhere in the middle of the whole process, especially for a service based business. My observation and experience has shown me that most sales and marketing strategies focus on two primary things; attracting prospect and converting them to clients. Makes sense, I mean that is what sales and marketing does, right? Yes, but on the other side of that are two very important "commitments" that must be kept.

1) Your Commitment To Your Client

The Fix This Next assessment asks this critical question: Do you fully deliver on your commitments to your clients?

In other words, do you consistently deliver your brand promise, and is the client getting what they paid for? In a gym setting, your retention % and churn rate are good indicators on how you are doing.

2) Your Clients Commitment To You

Do your clients pay on time, every time? Do you have to chase people for money? Do you have systems in place for getting paid and follow up processes for overdue clients? This is all part of the sales process. A sale is not complete unless and until both parties "keep their end of the bargain".

Remember I said "the sale" is the middle of the process? The back end of the process is the two commitments, so now let's talk about the starting point of the sales process.

You.

The very first question on the Sales level of the BHN is also the one I see answered "no" to most often. Here it is:

"Do you know what the company's sales performance must be to support your (the business owners) personal comfort?"

This is what Fix This Next calls "Lifestyle Congruence", and it's the number you want to know first.

I'm not pointing fingers here. If you had asked me that question when I started my business I would have had no idea, or how to figure it out.

But without that number, your sales goals (and mine) are arbitrary at best. Heck when I started my gym I thought if I could just get reach $10,000 in sales a month I would be living large, without even thinking about how much that put in my pocket. Reality caught up with me pretty fast. Bills are real.

So here's how the Fix This Next sales "funnel" flows...

1.

Lifestyle Congruence

2.

Prospect Attraction

3

Client Conversion

4.

Delivering on Commitments

5.

Collecting on Commitments

Having these 5 core sales needs satisfied is absolutely necessary to create the cash flow every business needs to establish a solid foundation. In fact this blog post is part of that whole flow. We are looking to attract business owners who are ready to take the next step and looking for guidance to solve their biggest business challenge.

If that's you, and you aren't absolutely sure what your biggest challenge is, take the free Fix This Next evaluation here, and I'll follow up so we have an opportunity talk about how to solve it. Let's get fixing!

1 2 3 6
>