What it Takes to Succeed in a Pilates Business!
Business is tough in today’s world! Most small businesses go bankrupt or are closed abruptly in the first five years. Over the course of the next five years many of the remainders also “pack up” shop and lock their doors. Why do so many businesses fail?
The reasons lie in three main spheres. Those spheres of influence can be labeled personal, customer, and operations.
The Personal Sphere deals with the owner’s personal motivation to start a business. For example, if an owner wants to start their own Pilates business, but isn’t willing to make the sacrifices necessary to make it thrive, then they are at a disadvantage when compared to other motivated businesspeople. When a business starts for the first time often it doesn’t have a lot of money. Owners are required to sacrifice time, money, and happiness to succeed. If you can’t do that, it is unlikely that your Pilates business will flourish. Many times owners thought they could handle the hardship but once the novelty of “being your own boss” wears off they close the door. You see there’s a big difference between teaching Pilates and running a Pilates business.
The Customer Sphere is one of the most important components of your Pilates business. Without customers you do not have sales, without sales you do not have money and without money you do not have a business. Many factors go into generating a good customer base. In the beginning you must have a cost-effective marketing strategy that targets your intended buyers. This can be done by developing a psychological profile of your customer and then advertising in those places that they frequent. Because it is more expensive to get a new customer than it is to keep one you must make sure they are satisfied with your business and offering. Keep in touch with them by sending them a follow-up letter with a survey, check in with them from time to time, find out what’s keeping them loyal and do more of it.
The Operations Sphere is only second to the Customer Sphere. In operations you must have an appropriate method for running your business, for reducing costs, keeping track of paperwork, and maintaining improvement week after weeks and year after year. Operations can also take into effect the accounting, timetabling, scheduling of instructors, answering queries and pushing the business forward. Do you have a clear roadmap for where you want to get to in your Pilates business, has the vision been set and are you actually working towards it.
If all of these three components are well thought out and are appropriately designed you will increase your chances of survival. Failure to understand the integral details of your Pilates business and what it takes to succeed may mean failure in the long run. If you are having difficulty putting all the pieces together then consider us having a chat – the simple reality is that I can show you upfront how any investment is offset against what your business will gain and I actually 100% guarantee that statement in writing.
To Your Success
3 Ways Brendan can help your Pilates Business to grow right now;
- Join the Free FB group dedicated to Pilates Business Owners only to get free resources, information, support, training and much more.
2. Run your business through his Profit Acceleration Simulator and see all of the potential growth areas – many you won’t even have thought of!. Download your personalised 12 month roadmap – all absolutely FREE.
3. Book a no obligation Pilates Profit Acceleration Jumpstart call with Brendan and see for yourself the proven steps he’s taking with other Pilates business owners to transform their businesses and lives. In this session Brendan guarantees to uncover anywhere between €25k – €75k of hidden profits within your business.
Book an inquiry session today and change the direction of your business and your life forever.