in this episode:
Teaching fitness for a living is a dream for many of us, however, it may be difficult for us to turn a profit on this. No matter how difficult – it is still possible, as long as you are clear on your vision! Today’s episode will focus on giving you actionable tips on how to establish your vision, make money, and avoid burnout throughout your career. My goal is for you to create daily change to get closer to your goals by taking action. Be sure to download the free worksheet along with this episode to work towards this! My guest, Elle Kealy, will be joining us to work towards these goals today.
Get clear on your vision
Invest in your bigger picture
Sample business models to save time & make more money
Take time to think strategically about your career (15:55).
1. How to get clear on your vision:
a. Schedule time in your calendar to think about what you want to create. Start by asking yourself, “What is it that I’m aiming to build? What is important to me? What does the bigger picture of my future business look like?”
b. Then, take it back. “Where am I at right now? How much are you really making right now? How may hours are you working a week? How much are you investing in your work each week?” This is your Point A, now you can build to Point B.
c. You will then realize whether you have a “business” or an “expensive hobby.” A business has strategy, direction, and potential to grow. An expensive hobby is something that you do because you enjoy, but you’re not clear on the direction that it is going outside of where it is now.
d. Let’s talk about three numbers. What is the minimum amount of money you need to make, the money you would like to make, and a hairy, scary goal of what you dream of making?
e. What is actually important to you – family time, travel, etc.? What do you not enjoy doing? Build your business around these priorities.
Invest in yourself (30:50).
This is – out of work! What other skills outside of professional training do you have or that you can pursue that will contribute to your personal success? It could be self-promotion, social media, how to build an audience, marketing, etc.
Specifically with marketing yourself, focus on getting started, not on where to start. Ask yourself what is your niche, who are you serving, what is the problem you are serving them for, and how can you communicate that. Start from the bottom and work your way up.
Once you start, track what works and what doesn’t. For example, you do a free screening. How many people sign up for the free screening? How many people want to continue with your services after this? Set a goal and then see, does this match up?
Start working on your business, not in your business (42:50).
Look at the big picture rather than focusing on the small, day to day tasks. Free up time in your schedule from these responsibilities to make time for the other responsibilities that will propel the business forward.
When working on your time management, ask yourself:
– What can I let go of that I am doing that isn’t serving me and my greater vision?
– Can I delay this task?
– Can I delegate this task?
– Can I completely be rid of this task (delete)? Is it necessary?
– Can I do it right now?
Three examples of how people have leveraged their business after going through these steps (48:30).
Go from one client to many clients – small group training. This will give you more time. There is hesitation that maybe your clients are not interested in this transition, but there are benefits that they will receive in this new format as well. Invite them to be apart of this new opportunity to access new levels of accountability, community, and connection.
Use technology to reach more people. Take your offline business online or do a hybrid of offline/online. This could be a high-end private coaching (working one-on-one with clients but remotely), a membership product, info-products, group coaching, etc. This is low cost, easy to get started, requires slightly different set of skills but they are learnable. If you’re willing to invest in yourself this way, this may be a great path for you.
Building a team. Hire other people to take over some of your classes, open a studio and train others to take over responsibilities. This requires a shift in your approach to your duties.