The Founder Phase of gym ownership is the startup phase: You’re doing all the work yourself, working long hours, sweeping the floors and coaching the clients.
(Not sure what phase of gym ownership you’re in? Click here to take the free test.)
There are a million things you could do. What should your focus be?
You need more revenue coming in than expenses going out.
Every action you take should provide a positive answer to one question:
“Does this improve my cash flow?”
- Doing a personal-training session will increase your cash flow (for now) because you sell that hour of time.
- Mopping the floors might improve your cash flow (for now) because you don’t have to pay someone else to do it.
- Setting up a Facebook marketing campaign will improve your cash flow by speeding up your lead generation.
But earning an advanced coaching credential won’t improve your cash flow. Arguing with other gym owners online won’t improve your cash flow. Simply delivering a great service won’t make you profitable (it’s necessary but not sufficient).
Until your gym is profitable—and paying you at least $1,000 per month after expenses—you have to finish every day with this question:
“Did I take one action to make my gym more profitable today?”
Don’t let yourself off the hook.
Other Media in This Series
“Clarity in Farmer Phase: Improve Net Owner Benefit”
“Clarity in Tinker Phase: $1 Million Net Worth”