Fitness Business School – 5 Questions for a Better Business

Full Transcript

Pat Rigsby here and in today’s episode, I want to give you five questions that will yield a better business. So let’s get started.

Welcome to the fitness business school podcast. The show for fitness business owners who want to grow their income, increase their end impact and improve their lifestyle. Be sure to listen to the end of this episode, because we have a brand new special offer exclusive for listeners. So stay tuned.

I don’t know if you’ve kind of jumped on this whole chatGPT bandwagon that has become so popular, but it’s definitely interesting to me because you know, it is very much, in my opinion, like a calculator. The better the input, the more accurate the output or the, the better the output. And so much work has gone into creating prompts to get this little, you know, AI engine to spit out more accurate information or, you know, more useful information depending on what, what
your goals are.

And it got me thinking like, what would be the prompts that I would give you if I wanted to really dig in and help you build a better business? And so I came up with five that I think that if you were to actually take the time to answer these questions, and some of them are simpler than others but if you were to
take the time to answer these questions, the outcome would be very much a, the, the raw material to create a powerful blueprint to build a great business. Now, I’m going to walk through each question. I’ll give you a little bit of context about it. And then my recommendation for you is to take this seriously, to
take these questions to, to work through them. Honestly, there are people in not only this industry, but in the coaching and consulting world that may charge somebody 10 to $25,000 and never dig as deep as these three questions will get and never provide you with anything more than surface level of
value.

Whereas these can help you really dig in and get to the root of the problem. So take them seriously, understand how valuable and how important they are, but also understand that working through them is not simple. All right? So number one, do the people in your world that you feel like are not responding
in the way that you want, whether it be prospects or team members, do they not know what to do? Or do they know what to do and just not do it? Now, this is the simplest of the questions, but it’s an important one because you have to know which problem you’re actually trying to solve if you’re gonna
solve the problem. So if you’ve got systems that work in your business, for example, that, that if somebody executes them, they’re okay, and all of your people know those systems, if they’re not doing them, then you gotta figure out, hey, did we hire the right people?

Are we coaching them to those systems, or are we reinforcing the importance of those versus do our people just not know what to do? And so they’re winging it and they’re bound to make some mistakes. The same thing with, with, with the prospects that come to you. Do they not know what you know, what
sort of program they should be following? Do they have complex problems that they need a professional to design something? Or do they know precisely what to do or at least something that’s effective enough and just choose not to do it or not to do it consistently? We have to know what problem we’re
trying to solve. So do they not know what to do or do they know and just not do it? All right. Number two, what is the one big thing that if you accomplished it would have the most significant impact on your business?

So think of this as a project, not necessarily as a result, because I think sometimes people answer this as a result. Like, what is the one big thing that have accomplished would have the most significant impact on your business? It’s not depositing a check for a million dollars in the bank, because I’ve seen some
answers that look like that when I’ve asked that question to people, no, what, what thing that you would accomplish? Like what could you do? Could it be installing a certain type of system? Is it hiring somebody? Is it changing your pricing? Is it changing the format of your service? But what is the one big
thing that if accomplished, not the result of an accomplishment, but if you accomplished it would have the most significant impact on your business? All right, number three, why are your ideal prospects not buying from you?

Why are they not enrolling in your programs, joining your your gym? Why are they not buying from you? Now, the only way this one is really useful is if you’re honest, that that holds true with all of these. But you know, if you gloss over this and just say, well, they don’t know about me. Well, that may be an
incomplete answer, but it’s probably not the whole answer because there are people that you would consider ideal that don’t buy from you, that do know about you. So make sure you’re thorough with this answer. Why or your ideal prospects not buying from you. What, what is happening that is
preventing them or not building enough value or not answering their questions or, or not giving them confidence? Like what, what is that thing holding them back? Why are they not buying? And sure, some of it may be a lack of awareness, but be thorough. Be complete.

All right, number four, if you were competing against yourself, what kind of weaknesses or deficiencies or chinks in the arm or would you exploit? How would you compete with you? And when? So this is a fun question because a lot of times, you know, it, it shows you opportunities that you can fix.
It shows you things that, that you can resolve in your business, but other times it shows you different ways to go about playing the game altogether to different ways to, to actually compete. Because if you say, well, this approach would beat me, well, maybe you should consider adopting this approach.

And then finally, number five, if you could start all over again knowing what you know now, what changes would you make to your business? So if you were just starting with a blank canvas, but all the knowledge that you’ve accrued since becoming a business owner, what changes would you make to
your business? Man, isn’t this a cool one? This is such a great thing. Now, I know for me one of the key changes I would’ve probably made a long time ago is only really offering coaching solutions. I’ve done plenty of one-off products and deliverables, but coaching is where I’ve been passionate. And so
that would be one change I would’ve made from day one. But knowing what you know now, what would you do differently? So those are the five questions. Now, again, the answers to these questions could totally transform your business if you’re willing to put the time in and do it.

Now, I know how many people typically listen to this podcast. I know the people that that I serve. I know them really, really well. And I know that most people will not sit down and take the time to do this. This is one of those things that you’re gonna have to do probably when you’ve got a clean slate of an hour or
maybe more and just work through these and be be honest and be clear. But if you do, man, the answers can really give you all that raw material you need to craft just a world-class strategic plan. Now, yeah, you’ll need to shape it into the plan, but you’ll have all this stuff and the planning becomes easy if
you’ve got the raw material where people get stuck on the plan as they don’t have that material to work with. So they’re kind of starting at a blank page.

So take these questions really dive deep, and if you have questions about any of them, if you need feedback on any of that stuff, just shoot me a message at [email protected] and I’ll help. Since I’m the one who kind of put you in this spot, if you’re willing to do the work, I’m more than happy to give you
some feedback on what you come up with. Okay, well I look forward to seeing the answers to these five questions.

Thanks for listening to this episode of The Fitness Business School.

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