Fitness Business School – Simplifying Your View of Business

Full Transcript

Hey Pat Rigsby here. And in this episode, I wanted to talk with you about kind of simplifying the way that you look at your business. I recently had a question from a fitness professional, asking how I can just simplify things for them so they can understand what successful business looks like. And I thought a perfect way to better use what I shared with them would be to share it with you in this episode. So let’s get to it.

Welcome to the fitness business school with Pat Rigsby, the podcast for fitness entrepreneurs who want to make more income, have greater impact, and enjoy more freedom in their ideal business. If you’d like an accelerated route to these goals, email me at [email protected] and put BGA in the subject line and I’ll get you all the details about our business growth accelerator program.

So business made simple. I had the good fortune to be in a conversation with a small fitness business owner who was just in the early stages of their business in the past week. And they wanted to kind of simplify the way they looked at things. They wanted to kind of escape some of the overwhelm. And, you know, I often talk about the attract convert, deliver units. We have to attract prospective clients. We’ve got to convert them to actual clients, and we have to deliver that dream come true result through an experience they enjoy. And so I had presented that to, you know, to this person, but I could tell that it, it didn’t clear everything up enough for them.

So one of the things I learned back when I was a college baseball coach is like, if you keep presenting information to somebody with the same language, the same cues, the same information, and they’re not getting it, it’s not on them. You have to find a different way to coach them. You have to find a different way to, to, to help them understand what you’re trying to convey. So I gave them kind of a four-step process of a way of looking at this, that just deviated a little bit from my typical attract, convert deliver. And I thought I’d share it with you as well, because maybe it’ll help clarify or simplify some things in your mind and help you when you kind of reach that brink of overwhelm as well.

So the first thing that we need to do is match our service to the specific needs of the market that we want to, that we want to serve. So understand your client, understand, you know, what, what their dream come true result is what their frustrations and fears are, what, what the obstacles are standing in their way of going from where they are to where they want to be in match your service to those specific needs. That’s right. Yeah. I mean, it that’s as simple as it comes. If you want to be valuable to somebody, if you can address those things that they want to, that they want to achieve those things, they dream about those problems that they want to solve and your service solves those problems for them. You know, that’s step one in any successful business.

And then step two, we need to do deliver it through a convenient, enjoyable experience. And I’ve always talked about delivering a result, doing experience. Somebody can, can enjoy, but understand that we live in a world of convenience. And this is a big part of how companies like Amazon have grown like crazy. And this is how companies like Door Dash and Uber and those sorts of things gained so much ground so quickly. People want what they want, where they want it when they want it. And if you can deliver something to a client in a really convenient fashion, the more convenient you can make it for them, the happier they’re going to be, and I’m talking online or offline, the, the more convenient it is for somebody, the more consistent they’re going to be the higher user rate, they’re going to have the better results they’re going to get. So deliver what you’re providing, this service, the, that you’re going to build your business around through a convenient, enjoyable experience in that step too.

Step three, offer this solution, this service, this problem that you’re solving, offer this deliverable at a price that allows the client to feel like they got a good deal. Does that mean you need to be inexpensive? No. But does that mean that people need to understand the value in what you’re providing and feel like what they’re spending they’re getting more than their money, right? Yes. So you need to price who we’re serving. This is fairly, yes, we need to be profitable, but you need to price your service so that the client can say, Hey, you know, I’m getting a good deal for this. Maybe I’m paying $200 a month, but it’s easily worth $300 a month. So don’t mistake that for feeling like you need to be the least expensive business in town. That’s not, that’s not going to work because you have to be profitable. If you want to have a healthy business that that sustains and is successful over time, profit is a must, but understand that you have to price things in a way where the value exchange feels good for the person that you’re serving. So they’re never really questioning the investment. And when that time goes, that they’re trying to say, okay, I need to cut this expense or that expense. You’re never on the chopping block.

And then the fourth thing to think about when it comes to operating a successful business, you know, business made simple, if you will, is just making sure that the market knows about how you can help them. You’re exposing this result. You can provide this service that you’re delivering to new people each and every day. So if that means you’re getting your marketing message in front of people with a Facebook ad, or you’re getting people in for a free trial to experience what you do, you have to continue to expose your business to new prospects each and every day, because a not all of them are going to buy. And then B not all the ones you have are going to stay lit.

Let’s face facts. I mean, retention is never going to be a hundred percent and that’s just normal human behavior. And if you’re setting a hundred percent retention up as your expectation, you’re setting yourself up to fail. Some people will move away. Some people’s interest will change. Some people will pursue a solution in a different way. Some people is just not going to be a fit and that’s okay. We want to hang on to as many as we can, but we always want to keep populating the pipeline so that our businesses always being exposed to new people that can see how we can help them, how we can deliver the dream come true result through the enjoyable, convenient experience for them.

So that’s it. It’s just a different way of understanding how business really is meant to operate. It’s not that complicated. I’m not going to say business. Isn’t hard because it is. And that’s, that’s why the rewards can be so great. If it was easy, the rewards wouldn’t be anywhere near as much as they have the potential be. But that doesn’t mean it has to be complicated. You can simplify it. And whenever I get overwhelmed, I go back to that attract, convert, deliver framework. But if that’s not landing for you, if you’re not able to kind of plug your business into that framework and understand it, maybe this kind of different language, this different way of viewing it can help. So hopefully that makes business A little simpler for you.

Thanks for listening. I’m giving away a bundle of my bestselling books, the ideal business formula, the fitness entrepreneur handbook in the path. All you have to do is go to patrigsby.com/podgift to get it. Also, make sure to subscribe to The Fitness Business School with Pat Rigsby so you don’t miss an episode and you get yourself on the fast track to creating your ideal business.