Every year, as business owners, we toil in turmoil, trying to figure out what resolutions we can make for our company that create a real impact for our customers, employees, and ourselves! Lists and lists. This and that. Hoping we strike upon some super special goal that will move the needle for everyone. Oh... and the resolutions have to be DOABLE!
Search no more, here’s the answer:
MAKE MORE MONEY
It seems so obvious, because it’s true! What other resolution isn’t helped by higher revenue in your business? Last year, every significant change we wanted to make at Gemini gymnastics, from better client services, to raises for our employees, to new equipment for our parent-tot classes, were all solved by simply bringing in more dollars.
So how can you focus on growing your cash flow? It’s easier than you think! Try focusing on these areas, remembering that INVESTING money is the BEST way to grow money. Spending $1000 this year to make $20,000 is an absolute "no-brainer". If you can commit to one or all you are BOUND to see your resolution become reality!
MORE CLIENTS: get more people walking in the door! Be careful to make sure they are the clients you want, though... investing in a targeted marketing strategy is some of the best money you can spend. For great amrketing advice check out the Gymnastics Marketing Group, or connect with my friends at Creatively Disruptive. They are literally experts on getting new clients into your doors.
RETAIN YOUR CLIENTS: Keeping your current students longer is the cheapest way to up your revenue, so invest in your teachers! Make sure they have all the tools and training they need to teach an AWESOME class and build those authentic relationships. This is what is going to keep kids coming back to class week after week, excited to be at your business.
If this were a restaurant, and you sold burgers, you'd make sure your burgers are really tasty and that your chef had everything they needed to keep them coming out of the kitchen. This is no different! Be sure you're making an awesome burger!
RAISE YOUR PRICES: Know your product. If you are worth more, charge more. If your clients love the experience they get with you and your staff, then chances are they would be happy to spend another $5, $10, $20 a month for something they KNOW their kids love with a business they trust. I would.
MORE PARTIES or EVENTS: This is literally adding revenue to your space... if you can make $100+ an event, then you need to do LOADS OF THEM! Don‘t stop with Birthdays; what about end-of-season parties for kids’ leagues, Girl Scouts, reunions, Ninja events or Parent’s Night Out!
For great Party advice reach out to the guru, Kassie Haag, on Facebook! She TOTALLY knows what's up and has been helping clients build better, more profitable parties for their businesses.
BUSINESS TEAM-UP: If you are reading this, chances are your business operates in a building with some decent square footage. A lot of gyms are finding great success with taking a piece of that square footage and renting it out to another business in a partnership. Some great options to explore include yoga, martial arts schools, tutoring programs and, my favorite, daycare!
So team up with another business that shares your values and buys into your culture. With some due diligence, and a lot of meetings, you may find a meaningful, consistent revenue stream that requires little to no maintenance.
BETTER/DIVERSE PROGRAMMING: Gone are the days where gymnastics is enough... the cost of doing business requires us to maximize our dollars per square footage. Adding Ninja, Dance, Preschool, or Cheer to your “menu” brings more families into your building, and gives more opportunities for all the kiddos in the family to find something they are going to love.
The best pairing these days is NINJA. Hands down. Ask around. Gyms across the country are discovering that getting a ninja program started in their facility brings in NEW REVENUE on day one! It's just that hot right now.
If you aren't running a Ninja Program, or if you feel like your program is under-performing, this is where NINJA MONKEYS can really help. Our program is super easy and super smart, designed to build awesome teachers, with an awesome curriculum, for gyms on a budget. Time and time again, gyms are seeing that, for $100 month, they can make thousands. It's a "no-brainer".
Contact me directly at ACHIEVESLEEVE@gmail.com