What makes a business thrive, survive or die?

Thousands of new Personal Trainers become qualified each year, and in an industry where there’s very few “jobs” most find themselves in business for themselves whether it be paying rent at a gym, working as an independent contractor, or going into business for themselves. Some of these businesses will thrive, some will just survive, and sadly many will die within the first year.

Everyone starts a business with the goal to thrive and succeed, just like everyone who starts on a fitness or weight loss goal plans to succeed, yet statistically speaking the odds of succeeding are stacked against you in both business and fitness.  So what separates the businesses that thrive, the ones that survive and the ones that die?

The following advice comes from Scott Hunt, who has a good insight into thriving in the fitness industry. He started his own Personal Training business back in 1999 as a 19 year old with just $400 to his name and no PT or business experience or support. Scott had to learn a lot, sometimes the hard way. His business barely survived the first few years, and slowly grew to a level of thriving as he was hands-on every day. Over time he built it to 25 staff across his Gold Coast Studio and Mobile Trainers and began to take on more of a management role.  From there the focus became expanding across rest of Australia with franchising the natural progression to bring more passionate and dedicated business owners into the brand.  Fitness Enhancement is now one of the largest Personal Training companies in Australia with Personal Training franchisees around the country able to tap into the brands 17 years of experience as one big team.

Scott says: “Hindsight is a wonderful thing, and like most successful businesses who struggle in the early days, I look back it all seems so easy now.  Thankfully I get to pass that hindsight onto our franchisees at a cheaper financial and emotional price than it cost me in the early days!”

Most of our staff members and franchisees were in business for themselves prior to joining our brand, most of them came to us with similar struggles, they’re great Trainers and passionate people, but they simply can’t get their business beyond survival mode. Having worked with hundreds of Trainers, here’s the 6 biggest things that separate those who thrive, survive and quit.  And the funny thing is, having worked with thousands of clients it’s also not too different to what separates the clients who achieve their goals from those who don’t.”     

Scott’s 6 top tips for business success:

1. Work hard

It’s obvious but it can’t be said enough.  People who succeed are prepared to do the things that people who fail aren’t.  Most thriving business owners have pulled plenty of 12 hour days before they are successful enough to be selective. People who think they can coast along because they are ‘the boss’ will quickly start to struggle and put themselves out of business.

2. Work smart

Working hard isn’t enough. There are plenty of hard workers whose businesses barely survive.  You’ve got to work smart as well.  Education is obviously important, but it’s not as easy as simply reading a business book, attending Filex or completing a degree.  Working smart is taking this knowledge, combining it with all the street smarts you pick up along the way, and applying it to your goal. Learn from the mistakes you make, and then re-apply again and again until you get it right.

3. Be a realistic optimist

You need to be somewhat an optimist to start a business in the first place. There’s nothing wrong with setting up your website and then being shocked that you put all that time, effort and money into it, but barely got a single enquiry. An UNrealistic optimist will continue to sit there waiting for that magical day when the new clients come flooding in. But of course that day doesn’t come.  A REALISTIC optimist might aim high, but they keep tweaking things and learning from their mistakes so they get a lot closer to achieving the big goals they set themselves.

4. Have a niche

You can be doing everything right, but in a crowded industry like Personal Training there’s always going to be competitors that are bigger, better and cheaper. As an optimist Scott believes competitors don’t matter, but as a realistic optimist he also knows it’s smarter and more rewarding to carve out his own niche market and specialty to offer to set himself apart.

5. Work on your weaknesses

No one is an expert at everything, yet as businesses owners you’re expected to be. Most trainers are great at Personal Training, but not so good at the many other areas of business they need to be (marketing, sales etc). Of course it’s just so easy to turn your back on doing the things you hate and focus on what you love.  Your business is only as strong as its weakest link, neglect those weak links for too long and they’re likely to break your business.

6. Outsource your weaknesses

Whilst you need to have an understanding of all areas of business, there’s plenty of areas where you really shouldn’t try to be an expert.  Often it’s a lot easier, more enjoyable, cheaper (remember your time is worth money) and more profitable to simply pay someone who is an expert in the things you’re not. That’s where joining a franchise such as Fitness Enhancement helps, it’s a business partner that’s invested in your success that can do the things for you that you can’t, or don’t want to, so you can spend more time helping your clients face to face.

Now of course there’s plenty of nay-sayers out there who will say it’s also luck and talent. In the end it’s not much different to when an out-of-shape person says to a fit person “you’re lucky you’re fit”.  As Trainers we know a little luck and talent/genetics is a great help, but whether it be with your business or your body, the harder (and smarter) you work, the luckier you will get!