33 Steps to Growing Your Fitness Business in 2024

33 Steps to Growing Your Fitness Business in 2024

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By Sean Greeley, NPE Founder & CEO

By Sean Greeley, NPE Founder & CEO

Over the last 17 years, we’ve helped over 53,000 fitness entrepreneurs go from broke to stacking cash.

 

Business isn’t easy.

 

But it is simple.

 

And it turns out, you can break the whole journey of growing a business into a step-by-step process.

 

I’ve personally grown multiple 7 and 8-figure businesses, and helped our clients generate over $1B in revenue in the last couple decades.

 

Here’s exactly what I’d do in 2024 if my business was struggling:

1: Block 10-20 hours per week to work ON my business

This is different from operating my business. I want to give myself the time and space to assess what’s working, what’s not, and have the opportunity to make adjustments.

 

2: Review and update a SWOT analysis

This is foundational. SWOT stands for “Strengths, Weaknesses, Opportunities, Threats” and it’s a laser specific tool to get you incredibly clear on where you need to focus in your business.

 

3: Create a 1-Page Fitness Business plan to simplify goals, model and vision.

Many entrepreneurs overlook this . But as Yogi Berra said, “If you don’t know where you are going, you might wind up someplace else.”

 

4: Review all expenses and find where you can get lean with quick wins

We often think we need to spend more than is necessary to get the business up and running. Your first priority is getting your first clients. Until that happens, spend the absolute minimum to conserve cashflow and energy.

 

5: Clarify perfect client avatar

Pick the kind of person you want to work with, and find out where they hang out. Get to know what problems they have.

 

6: Update value proposition

Based on your initial prospect conversations, what do you do? Practice different ways to summarize this key piece.

 

7: Research market and update competitor analysis

Who else is selling in the market and what are they doing? Allow this to inspire you and guide your thinking on what’s working in the marketplace

 

8: Create business positioning statement

Why should someone work with you instead of the competitor down the street?

 

9: Review/update revenue streams & look for Pareto principle

The Pareto Principle says that 80% of your results come from 20% of your effort. If you reverse engineer this principle into your business, where is 80% of your revenue coming from and what 20% of activities are driving that?

 

10: Update your menu of services

What do you charge? Are you generating a gross margin of 75%+? If not, it’s time to update your prices.

 

11: Review sales strategy/process/offer

How are you engaging prospects? What’s the journey for someone to become a client?

 

12: Review and update your sales presentation

Are you qualifying prospects properly? Asking the right questions? Are your client agreements sound? Review all of this.

 

13: Review and update your CRM

Make sure your tech stack is intuitive, simple, and is actually being used

 

14: Review and update your sales pipeline management system

 

15: Use #13, 14, 15 to review and update primary offer funnel

If you don’t *have* an offer funnel, use this to create one

 

16: Claim listenings and update business info across all 30+ local search directories

 

17: Start collecting (2) 5-star reviews per week

 

18: Install systems to ensure all reviews are responded to within 24-hours

 

19: Niche down to 1 social platform that’s most likely to be where your avatar is hanging out

 

20: Review and update your content strategy

How are you communicating with your audience? What are you saying? What’s your preferred medium of content (text, audio, video)?

 

21: Install a production system for weekly posts (producing 3-7 posts a week)

 

22: Review/update facility signage to increase awareness and brand

Make sure people can find your studio/gym

 

23: Review and update your business networking strategy, plan, and tools

 

24: Review and update your referral marketing strategy, plan, and tools

 

25: Review and update your partner marketing strategy, plan, and tools

 

26: If generating 15K+/month, then turn on ads to your offer funnel

Refer back to 15

 

27: Build internal playbooks that streamline processes and define standards

 

28: Recruit and hire A-players to increase team capacity

This is key to scaling your business

 

29: Launch NPE Raise-the-Rates Campaign to achieve 70-80% gross profit margin

 

30: Review/update org structure, role scorecards, role checklists to improve staff utilization and maximize revenue

 

31: Block time weekly to invest in developing leaders

 

32: Review and update proforma and budget to hit your financial goals

 

33: Recapitalize and restructure debt if needed.

These steps have been proven thousands of times with our clients across the world.

 

This may seem overwhelming.

 

If that’s the case, head over to NPE’s website to access the NPE Fitness Business scorecard to get a personalized plan for growth.

 

Seize the day!

About the Author:

SEAN GREELEY, NPE FOUNDER & CEO

Sean Greeley, Founder & CEO of NPE has helped 53,000 fitness entrepreneurs go from broke to stacking cash over the last 17 years. Under his leadership, NPE has become the go-to destination for business growth systems, tools, and coaching for fitness entrepreneurs to grow to 6-, 7-, and 8-figures.  To get your personalized plan for growth, visit NPE’s website.

 

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