Search

Home > The FITSPRO Podcast > 089 | Two Options For Scaling Your Business
Podcast: The FITSPRO Podcast
Episode:

089 | Two Options For Scaling Your Business
Category: Health
Duration: 00:17:17
Publish Date: 2020-10-06 05:00:00
Description: Two options for scaling your business... I wanted to do today’s short episode because I think it’s common for coaches in the online health and fitness space to create an offer, likely 1:1, have some success, and then be like, “Shit, what now?” Your roster is full, your time is spent, and you literally can’t do more work. So you can’t make more money either, unless you raise your prices. Which is fine, but what’s the end game? That, my friends, is where scaling comes into play. How we scale is to essentially replicate ourselves. You scale a business once you’ve got a proven system or product that works. You can then scale THAT offer or product, or scale your business another way. Today we discuss both options. There are not only two ways to scale, but these are what I see most often. Especially in the online health and fitness space. Think of a brick and mortar shop. Once they’ve nailed down their product or services, systems that work, and proven that what they have created is sustainable, they open another shop using those same systems. Same goes for scaling your business. But we’re not opening another shop. We’re duplicating you or your process. Tracking? Even if you’re not ready to scale now, you’ll want to be some day. Well, I can’t guarantee that either. But it is likely that you will reach a ceiling with a 1:1 service or even a single service that is not 1:1. At some point you’ll need help. But which kind, that is up to you. Option number one for scaling: Creating an offer pyramid and passive income We can continue offering value without increasing your workload by creating passive or partially passive offers. Aka building an offer pyramid. The passive piece wins because it keeps paying after creation but is no work for you. Again, this doesn’t skip out on value for your clients. Just takes out the real time work for you. Your second, third or even fourth offers will be something that your clients from your current offer would benefit from. These are what I call supporting offers. Which are valuable on their own, or in combination with your other offers as well. These do not compete with one another. You never want a prospect to be confused which offer is for them based on the offer descriptions. Let’s make life as easy possible for potential clients. Options we have here: Create a resource of some kind. This can be a course or educational PDF. For me think about the Big Lift Audit or Movement 101 on the fitness side.  And Instagram 101 on the business side. Or you can create an automated or mostly automated and streamlined membership. This is assuming you have a 1:1 higher touch offer to begin with. The membership would that system with less touch points and personalization. Again, for me - this is my Built By Annie Membership in fitness and FitsPRO Foundations in business. When you begin to look at scaling, you should have a pretty freaking solid idea of who your target audience is and what they need or desire from you. You’ll know what they would find helpful. Perhaps you’re marketing to an earlier version or a more advanced version of your ideal client for your current offer. Your ideal client in a different stage or level than what you are currently helping. This is by no means a one size fits all deal. You have so many options here. But if you haven’t learned about your ideal client, this will be a challenge, and you’re likely not ready to scale anyway. Whatever you choose needs to be scalable. That might sound obvious but you’d be surprised how many entrepreneurs don’t understand what it means to scale. Look at the growth potential of the offer. Can 10 or 100 people join and it be the same amount of work for you? Or relatively close? Or does the workload increase but 10x when we go from 10 to 100 customers? For instance with Instagram 101, no workload increases. Literally none. I could have 10 or 300 people in the course and nothing chan...
Total Play: 0