How to Weather an Economic Downturn

I've received quite a few e-mails recently with questions related to this, so there is no time like the present to talk about it. Let's face it, when times get tough, people are forced to make difficult decisions. For some of our clients, hiring a personal trainer may seem like a luxury. The reality is that for most of your clients, it is a necessity! Without your instruction and motivation, most of your clients will not stay adherent to their program. It's understandable that when push comes to shove, a client may need to cut back, but there are other options than just quitting their exercise program. If you are facing this situation with some of your clients at present, try to do the following:

Don't panic
It is normal to go through busy cycles and slow cycles. Know that the slow times will eventually pass and the good times will return.

Be creative with your business
Ask yourself, "what can I offer to make my services more affordable yet keep the value and the revenue going strong?"

Offer more small group training classes and online training. This will cut the cost to your clients, yet still allow them to receive your motivation and services. Work on collaborations with other health and fitness professionals when possible (yes, more networking). Alliances with other health professionals is a good way to strengthen your customer base. With the right collaborations you are reaching a broader spectrum of possible customers and you have more to offer each potential customer.

Continue to educate your customers
Personal training is not a luxury item. Make sure all of your marketing promotes personal training as a necessity. Remind consumers that personal training isn't a luxury, it's an opportunity to GET FIT and STAY FIT! Put it in your newsletters, website, flyers, and anywhere else the consumer learns about you and your business.

Stop unnecessary spending
There are many places to cut back in your business. Just make sure that anything you spend money on is an absolute essential to surviving or operating your business.

Re-organize Yourself
Take advantage of this slow time to organize yourself both professionally and personally. Evaluate all of your business ideas, rewrite your business plan, re-define your goals. Your business plan should be the working base for your company. Have you strayed from it in any way? Does it need revision in light of new information? Should you be considering new directions that are not included in it? Sit down and read it from the perspective of someone about to invest in your business - and make any revisions that seem appropriate. You may even identify additional information you need to gather in order to make decisions about the future of the company.

Make Customer Service Your #1 Priority
Your clients are your lifeblood in any economic climate. In a downturn they are what keep you in business. Treat them well, always over-deliver and exceed their expectations. Spend time listening to your clients to hear what they like and do not like about the services you offer. Change those that you can. Take time to be innovative in meeting your customer needs. Do whatever you need to do to keep your current customers loyal and to position yourself to win new clients and referrals.

Stay optimistic
The slow times will eventually pass and the good times will return:-)