Personal Fitness Professional - Summer 2017 - 26
IS YOUR BUSINESS
THRIVING? OR JUST
Diversify your fitness business
to be in the top 15%
ou may recall studying Maslow's
Hierarchy of Needs in high
school or college. It's a model
where motivation is based on
deficiency or growth needs.
The lowest level of the hierarchy is associated with people looking to survive, meeting
needs for food, shelter and clothing. However,
it also includes people who are disengaged,
just in it for the money, unsatisfied and unexcited. This is where a grand majority of the
population lies, at the bottom of the triangle.
Unfortunately, many fitness professionals find
themselves in survival mode financially where
they run out of money even though they remain passionate and engaged in training.
The highest level in the model at the top of
the pyramid is self-actualization where the person is highly-engaged, asking what they can
do for others, inspiring others to do their best,
loving their professional responsibility and are
highly-motivated. On average, less than 15% of
people reach this level. Fitness professionals at
this highest-level feel a vital part of the busi-
| WWW.FIT-PRO.COM | SUMMER 2017
ness and industry, feel important, are achievers, and seek continual growth. At this level,
fitness professionals not only survive and have
security, but master a sense of belonging, feel
important and are fully engaged.
Professions include doctors, attorneys, and
accountants, and today personal trainers could
be included in that realm. Ultimately all of these
professionals trade time for money and therefore there is a limit to how many they can serve,
what they can earn and who they can influence.
Trading time for money doing one-on-one
or group training is the traditional way fitness
professionals earn a living. This makes it very
difficult to get ahead if you want freedom of
time and money.
There is a higher level of actualization that
can propel fitness professionals into a new
realm of influence and income. It's a necessity
for individual trainers and businesses to have
additional streams of income and the options
are truly unlimited.
When you are deciding what might be a fit as
an extension for your fitness business, consid-
er the following. First, what excites you? What
could you confidently stand behind that you
fully believe would bring massive value to your
clients and you would enjoy sharing? If you are
not passionate about it, it does not matter how
in demand or valuable the product or service
will be. It simply will not be successful.
What are your clients already purchasing
that they can get from you more conveniently,
for better value and at a better quality? What
product or service is in demand that you can
offer that positions you as the go to expert?
What is low risk to get started? How do you
want to be known? How could a product or
service add to the niche you wish to influence?
For example, there are specialty offerings specific to yoga, MMA, Crossfit, prenatal and other
disciplines that can become a profit center.
You also want to look at what is available to
you that you can duplicate that is already working
for others. Most times it's not necessary to create
anything new. You can you plug into a product
or service that is low risk to start where you won't
need inventory, don't need to create a new web-