5 Reasons Why Gym Businesses Fail
By Sean Greeley
The American inventor of the modern automobile, Henry Ford, said it best: “Whether you think you can, or you think you can’t–you’re right.”
Over the last few months, we’ve been speaking more and more about mindset with clients in our coaching programs. And specifically, how your mind (and the way you think) must evolve as you grow… if you want to continue to grow.
Because it’s all too easy to get in your own way.
For example, how do you define yourself?
“I’m a ___________________________ .”
Depending on how you answer that question can open tremendous opportunity for you to grow… or can be dead weight that’s holding you back.
AND… your answer will also evolve as YOU evolve over time.
For instance, when you’re quitting a job and want to go full time in the fitness industry, “I’m a coach” is a great mindset to embrace. You ARE a coach.
But if you decide to start growing a business, AND you’re still coaching a full schedule AND trying to do the sales, marketing, management, finance, eat, sleep, workout, and have a life… well that mindset becomes a bit of a limiting factor in your continued evolution.
Now try this on… “I’m a business owner.”
Business owners are not just responsible for the coaching, but also the sales, marketing, management, finance, leadership, and team building in growing a business. Not just doing the thing you sell.
And MOST importantly… as a business owner, you’re responsible for ensuring you create and deliver tremendous VALUE for all you serve.
YOU don’t have to do all the coaching.
Your job is to ensure you have a system and team that delivers exceptional value to your market.
Here are some examples of mindsets that are very limiting. If you catch yourself thinking these thoughts (or worse saying them out loud)… STOP.
- “They’re special. I don’t believe I can do that.” – Don’t think that anyone is any different from you. Every success story was once struggling to get by, thinking of quitting (many times), and has had their own version of hardships. We all put our pants on one leg at a time in the morning. What it takes is passion, persistence, and the willingness to NEVER, EVER give up.
- “I can’t charge that much, I’m not worth that much.” – I’ll tell you what, there’s not a ton of difference in technical ability or skill sets between coaches I know charging $/£150 per hour and those charging $/£45. The biggest difference is they BELIEVE in themselves, they are confident they can deliver results, and they focus on serving a higher quality clientele who can afford to pay more. Someone paying more doesn’t mean you’re necessarily better, it just means the problem you’re solving is more valuable to that particular customer. Re-read that sentence. It’s important.
- “I’m a ____________________.” If you decide to own a business, you better start telling yourself you’re a business owner. Otherwise don’t. Just work for someone else. No shame in that. There’s less risk and responsibility in doing so, and that might be right for you at this time in your life. BUT, if you’re going to take on the risk of rent, payroll, and more… then you better step into the leadership role and responsibility that goes far beyond simply coaching clients.
- “I know this stuff already.” – I know a lot of personal training clients who also know how to eat right and exercise. But guess what? They’re still fat and out of shape. Intellectually “knowing” something is far different from doing it. And doing it well. Consistently. And getting results. That’s why your clients invest in working with a coach. And it’s why you should too.
- “Squirrel!” – I don’t know if it’s related to the fact that our generation has all grown up on sugar, video games, and Twitter… but I don’t remember hearing anyone talk about ADD in 1950. You either focused and paid attention, or you got smacked upside the head at school. Defining priorities, and staying FOCUSED on them through the finish line is what makes entrepreneurs successful. It’s not having ideas. An idea and a nickel will get you a stick of gum. Seeing things through to completion is how you make your dreams happen.
So, repeat your new mantra out loud with me to continue growing and evolving:
- “I am smart & strong enough. I can do this too.”
- “I am worth that much.”
- “I am a business owner.”
- “I invest in my success and surround myself with others ahead of where I am now.”
- “I am focused and persistent in the pursuit of my goals.”
Nothing will open up new doors for you like getting your mindset on track. Make sure you’re evolving your thinking in order to ensure your continued success, happiness, and sanity.