Fitness Business School – $5k Monthly vs $25k Monthly

Full Transcript

Hey, Pat Rigsby here and in this episode, I want to talk with you about the difference between businesses that are doing $5,000 a month and those that are doing $25,000 a month. 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 impact and improve their lifestyle. Be sure to listen till the end of this episode because we have a brand new special offer exclusive for listeners. So
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You know, I probably misspoke in the, the intro there because obviously there are several differences between the businesses that are just kind of in that early launch stage and the businesses that are more well established doing, you know, $25,000 a month, something like that. And yes, there are plenty of businesses doing 2, 3, 4 times that $25,000 a month benchmark. But you know, if you look around at the small kind of businesses that you’ll find in most strip centers or whatever else, if they’re doing $25,000 a month, they’re probably doing, you know, just fine.

They’re probably, you know, healthy, solid businesses. And, you know, if you are doing that and you are an owner operator, where you’re actually in the business playing a meaningful role in a lot of cases that can provide you a solid income, it can provide you a meaningful kind
of quality of life doing something that you enjoy doing, and you probably have the platform to grow to scale to do more. So what’s the biggest difference? Well, in my mind, the biggest difference between those two stages is the consistency of producing new business. And yes, I mean, you have to be able to
support the business and, and that’s kind of a separate conversation, but you, you know, obviously the first domino there is you’ve gotta be able to generate the business. And when I talk to people who are in that $5,000 a month stage, they don’t prioritize the generation of new business.

They are not consistent with it. They’re typically, um, a little more apprehensive about proactive outreach, about asking for referrals, about asking for reviews, about, um, either getting out and networking or, um, deploying some sort of online marketing tactic. And yeah, they may have a tight budget because their, their revenue isn’t, you know, isn’t really developed yet. So they may not be able to go spend, you know, a thousand, 1500, $2,000 a month on ads. But what they can do is get out and be really proactive and almost act as if, the way that I think of this is like running for mayor of fitness in your respective market, or the mayor of your kind of solution target market, whether it’s fitness for busy moms or, um, fat loss or fitness for people over 50 or whatever. You know, you can
get out and have a really strong grassroots campaign, but most people that are in that $5,000 a month range just don’t do it.

They just are not driving things forward. They’re not committed to moving the needle each and every day. And you know, it’s a shame because, you know, my experience is those people care about their clients. They care about delivering results. They enjoy the training piece of this, but it’s gonna be hard for them to build a sustainable business over time until they embrace this other side, because to, to oversimplify things, there are two sides to this. There’s the service delivery side, and then there’s the client acquisition side. And for me, that ability to consistently connect and then demonstrate how we can help get people in that, what I call a conversion opportunity, that opportunity to really e either physically demonstrate how we can help through some sort of trial or demonstrate
through description and tell people how we are going to be able to work together to solve their problems after we’ve gotten clear about what those problems are and what they feel like needs to change.

And we’re just not getting enough people in that pipeline and to that stage. And if you’re not, you know there’s no fix other than for you to embrace it and say, this has to be a priority for me each and every week. And, you know, it starts with a decision because decisions precede actions. And if you’re not
committed to that, if you’re finding ways to rationalize not doing it, if you’re saying, I didn’t have time to get to it, you know, the, the tough love side of me as a co-chair is gonna tell you, you’re gonna have plenty of time because you’re not gonna have a business much longer if this is the case, because one of
two things are gonna happen. You’re gonna get squeezed out by competitors that are doing all the marketing stuff, and they’re, they’re going to, um, incrementally kind of steal away some of the clients that you have, because that’s just the nature of business, right?

Like people pursue shiny objects sometimes, and then some of your people are gonna leave just for natural, normal attrition type reasons. But then the other side is you’re, you know, well before I move to that, and you’re just not gonna be able to keep up, right? Like the incoming is going, gonna lag behind
the outgoing, and so ultimately it just dries up and you can’t pay the bills and pay you. So that’s one side, but then the other side is the, the stress, the, the money challenges, all of that is gonna lead to burnout. And eventually somebody just says, Hey, it’s not worth it. And, and the either of those two things, I
mean, they’re two different paths to the same result. It’s just not going to lead to you being able to have a business that works for you. So if you’ve not embraced this, I, I would encourage you to kind of start to look at this through a different lens, right?

In my mind, anxiety is kind of borrowing problems from the future that often don’t actually exist. But then, you know, the sports psychology guy in me would say that visualization is just the opposite. I, it is kind of borrowing successes from the future that have yet to happen. And you probably
need to shift and, and expect that, man, if I can connect with more people, I’m gonna have the ability to help more people because I can’t really have a meaningful impact on ’em until they’re under my care, until I’ve demonstrated how I can help, and those who are ready for help will accept the opportunity to
work together, that’s when I can really make a difference. That’s when all the great things that I can do for somebody happen. So you have to put yourself in more of those situations and accept the fact that some people aren’t ready and that’s not about you.

I mean, there are plenty of things that, that each of us probably aren’t ready for at the moment. Like, you know, some people aren’t ready to change careers or they’re not ready to make another meaningful purchase or commitment. You know, I mean, it’s, it is just the way that we operate as human beings.
Like there’s, there, there’s that kind of interested stage before being ready. So you may have plenty of conversations with people and they may not be interested, and then they, some of them may be interested and they’re not ready, and it’s not about you. So we’ve gotta somehow release that kind of
anxiety and fear and discomfort and say, look, I need to talk to more people. I need to demonstrate how I can help more so I can actually build a business around helping people. I have to be able to, to make people aware and make them understand that there’s finally a solution that’s gonna work for them.

And so if you’re not doing that on a daily basis, and yes, I mean daily basis, not, Hey, I need to go dedicate two hours a week to this, if this is half of your business, then you probably need to be thinking about dedicating 10 to 20 hours a week to this until you are at a place where you can delegate it until
you’re at a place where you can invest some money in it to create some leverage. So some work is being done on your behalf when you’re not necessarily managing it, like running ads or something like that. But if, if you’re not doing that, you have to be willing to make this shift. And if you’re not, you’re settling
for struggle. And, um, man, it’s a slippery slope. I’ve just seen it too many times. And as, as somebody who is rooting for you, I’m telling you, this is the difference.

This is the biggest difference between those $5,000 a month businesses and those $25,000 a month businesses, the way they prioritize bringing in new clients and introducing them to what they have to offer. When you make that a priority, you’re gonna see your business grow.

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

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