So many fitness business owners are facing the hard reality right now of deciding between giving up, closing your doors for good and walking away or figuring out a way to continue to navigate this crisis through the uncertainty, shut downs and unknown future of our industry. Every day we hear of another gym closing their doors unable to hang on for one more day. It's heart breaking.
Be the exception. Be the one who gets through this pandemic and is standing strong at the end. Your clients need you. Your family needs you. The world needs you. When this is all over our industry will look very different. Health will be a #1 priority and we will have the opportunity to change the way fitness is done! Find a way to make it through!
1. Run lean right now. You have to go through your company and cut any unnecessary expenses. Avoid going into personal debt to keep your gym open. Hopefully you got the PPP and maybe an EIDL to help. Using the Profit First method continually stay at break even to weather this storm. Talk to your landlord about cutting your rent or putting your lease on hold until you can get back to normal operations if you are in a state that is still shut down by the Government. If you're rebuilding and have restrictions on your capacity talk to your landlord about making adjustments to accommodate for the Government mandated restrictions.
2. Do not do this alone. You cannot navigate this by yourself. None of us have been through a pandemic before. By being connecting with other people who are going through what you are going through you'll be more likely to figure it out. Our mastermind group has been extremely connected supporting each other through this. On our mastermind call last week one of our members who owns a gym in Seattle said, "I'm so grateful to have this group through this. I cannot imagine going through this alone."
3. Add new revenue streams. If you haven't pivoted yet you may have missed the boat to save your existing business but it's never too late to start a new online business. Find new ways to deliver what you do that will set you up for the future. When Alwyn was diagnosed with cancer the future was very uncertain for us. It's not a coincidence that our websites, first blog posts, email list and first online products (e-books at the time...anyone read Afterburn?) were all created around that time. We didn't know what was going to happen with the gym so started to create other revenue streams sharing our knowledge in new formats outside of the gym. You have to start to think about doing this to survive this. How else can you show up?
If you're in our inner circle I hope you've already watched the course we filmed just before the shut down on How To Build Your Online Business From A to Z.
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