BUSINESS Is the word business your kryptonite?
REPs member and founder of Fitmalion, Naomi di Fabio shares her expert tips on the business side of personal training.
commitments, do what you really love and boost your income, right?
I
Has something changed since you started? Have you become somewhat frustrated that your business seems to be running your life? Let me put your mind at rest, it is a completely normal thing to happen and it is not your fault because you were not taught how to run your business successfully when you trained. At times unpredictable and irregular income is discouraging and may have made you uncertain about the future. You need not fear! All this can change and I am going to show you how.
READY Empower yourself by transforming your mindset.
Just becoming aware that you are a business is a huge step and means you now have to think like a business. I work with many clients who say that because they are doing something that they love it almost feels wrong to ask for money. Your only reward is the satisfaction of changing peoples’ lives and keeping in shape while you’re doing it. Right? Wrong! You are allowed to earn a living doing the things that bring you fulfillment and joy. Why do you think you shouldn’t earn a good living doing something you are passionate about? Write out all your answers to that question and notice what you notice. Now consider this: What is the cost (not necessarily financial) to you of staying where you are now with your business? Yes, write down your answers because when they are in black and white you cannot run away.
If you can get your head wrapped around that you will already see a big shift.
As an owner of your business or a sole trader it is essential that you understand the difference and importance of working both on and in your business. You are responsible for every aspect. That means you are
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t is time to take back control and fly high! You chose this job to give you the freedom to work around your current life
bookkeeper, salesperson, marketer, instructor, negotiator, music-finder, choreographer, stylist... the list goes on. It is part of your job to plan, develop strategy, define objectives and ultimately to put everything into action. The norm for someone running a lifestyle business is to work almost exclusively in their business and not on it. The result of this is a loss of focus and that is how you get into a situation where your initial boom of clients withers away and the influx of new clients does not materialise.
Grab another piece of paper and write yourself a job description. Then look at the different aspects and divide your time between working on your business and working in your business. How much ‘in’ do you need to make the kind of money you’re after? How much ‘on’ do you need in order to generate the number and type of clients you want to maintain the longevity of your business?
AIM Let’s nail it now and bang out a business plan!
It may sound overwhelming but it does not need to be. A business plan is not a huge document drawn up in the hopes of obtaining funding from a bank and then left on a shelf to gather dust - although it can also be that. It should be a working and flowing part of your business which you always keep to hand adapting and amending it as you grow.
Task Write down the 5 Ws: What? Who? Where? When? Why? Answer the questions in as much detail as you can.
Hint The answer to ‘Who?’ is involved in your business is not just you, even if you are a sole trader.
To get you started on your thought process: Do you have clients? Volunteer assistants? Business coach? Mentor? Hired help? Free family help? An accountant? Be specific about who they are and avoid simply writing ‘clients’ or ‘me’. What are your clients
like? Describe the people involved in your business in detail, how they are involved and what they bring to the table. Same idea for What, Where and When?
Understanding the reasons why you are in business is crucial in giving you a clear purpose. Don’t scrimp on answering that question. I am challenging you not to simply write “I do it because I love it.” Delve deeper and remember that this exercise is for your success and that of your business. If you don’t do it then no one else will. Consider all the different aspects: Why do you offer that service? Why do you charge that price? Why do you teach at that time, on that day in that place?
Once you have completed the exercise take a step back and consider how everything in your business fits together. You will be able to identify who your target market is in detail. You will see problems and be able to develop solutions. You will also notice your processes - the specific steps you take in order to get something done, like turn an enquiry into a paying and committed client. Already you can see where you are headed and you have the power to change course if you want to.
FIRE Remember that nothing will change unless you start to act. Remember, “If you do what you’ve always done, you’ll get what you’ve always gotten” (Anthony Robbins).
Congratulations! You now have permission to earn money doing what you love, know where you want to go, have a plan for how to accomplish it and discernment to make wise decisions. Now is the time to take action and regain control over your life and your business so that you can fly high!
THE AUTHOR
Founder of Fitmalion, Naomi Di Fabio trains, supports and empowers dance and fitness
professionals in their personal and
business development.
www.fitmalion.com, @NaomiDiFabio,
naomi@naomidifabio.com
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