You may or may not know this (based on your background), but in the corporate world you’re given job titles, such as…
CEO = Chief Executive Officer
CFO = Chief Financial Officer
CTO = Chief Technology Officer
CMO = Chief Marketing Officer
The reason I tell you this is…
I was in London the other day and overheard some corporate guys talking about job titles and it reminded me of a conversation I had with one fitness business owner.
When we first talked they were telling me about their team and that they have a CTO, CMO, blah, blah, blah…
They even referenced themselves as the CEO.
My question to them was…
“How much are you doing per month roughly in gross revenue?”
Their response: “£5,000, give or take.”
My next question was…
“How many hours a week are you coaching clients right now?”, and his response was, “About 40.”
My next question was…
“Things don’t add up financially. How are you paying a CTO, CMO and CFO and are they really needed as you’re doing £5k a month?”
“Oh… they are family and a friend who get free membership in return.”
My response was…
“So in reality, you’re a Personal Trainer? (Nothing wrong with that.) And you’ve given everyone fancy job titles and you’re not paying them?”
I went on to say…
“Look, let’s get real here.
“You have a job, you’re not a CEO and you don’t need a Chief Financial Officer, Chief Technology Officer or Chief Marketing Officer.
“You’ve massively over complicated something that doesn’t need to be complicated.”
I was simply holding the mirror up, not fluffing his ego, and telling him the reality.
It’s like losing weight.
A weight loss client could do a million things to lose weight, different diets, tablets and more but they’ve over complicated it.
All they really need to do is:
– Eat less
– Move more
The same goes for a fitness business owner.
All you need to do is pay to advertise, collect a lead, call the lead and sell to the lead – impact someone’s life for the better.
And if you’re coaching 40 hours a week the reality is at some point you’re going to burn out, as it’s not sustainable.
So the next and easiest thing to do is to bring another Personal Trainer in under you and build a team.
Anyway, the message of this email is don’t over complicate things; you don’t need to dish out fancy job titles, and you don’t need to trade services so someone can do your marketing, bookkeeping or sales.
You simply have to have a scalable business model; you turn on advertising, help people, and grow your business.