How to take a 'worry-free' vacation

When was the last time you took a vacation where you were able to completely relax?

You didn't have to worry about money.

You didn't have to worry about your clients.

You didn't have to worry about your business.

You didn't have to worry about cash-flow.

You didn't have to worry if things were going to fall apart while you were gone.

And why weren't you worried?

Well for starters, you've got your 'stuff' together.

You're not just throwing darts.

You've got your numbers down.

But what if you haven't taken a vacation in forever?

What if you are throwing darts?

My friend Pat Rigsby - of http://CosgroveandRigsby.com - shared these three items you need to know so you can enjoy your next vacation.
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*Item One - Know your 'Lifetime Client Value'

The 3 most important words for business success as a fitness professional.

It gets touched on as a number you need to work to improve and track - but your client's lifetime value is the foundation of your business success.

When you have a baseline for what each client is worth, you know EXACTLY how much you can spend on marketing.

You know EXACTLY how much you can spend on referral promotions.

You can precisely track what areas you need to improve like your average package value or the length of the time your clients stay with you.

This one number is the basis on which your business' success revolves.

Here's a simple tip to get you started:

Step 1 - Identify the number of cleints that you have. (eg. 20 clients)

Step 2 - Divide the amount of income you made from those clients last month (eg. $5000 / 20 = $250)

Step 3 - The number you came up with in step 2 by the number of months a typical client stays with you ($250 x 12 = $3000)

This will give you a rough estimate of your LCV.

Now you have a better idea of what you can spend to acquire a client, how important retaining a client is and how you might increase that number.


*Item Two - Understanding Incomings vs Outgoings

Every fitness professional wants to make more money - but in reality what they really want is to keep more money.

Buy identifying where your 'leaks' are you can dramatically improve your take home pay without necessarily increasing your gross income.

A quick tip to identify your 'leaks' - track every expense for one month (hopefully you're already doing this) - preferably on Quickbooks, but for now a spreadsheet will do.

Include everything - rent, phone, internet service, business cards, etc. Now go down this quick list of questions for each:

1. Do I need this?
2. What is my Return On Investment (ROI) for this?
3. Is there a more cost effective alternative?

You'll quickly realize that just becoming aware of the leaks will make you more prudent about your decisions - but even better, you'll start thinking of spending money on your business as an investment and you'll constantly seek a better retrun on that investment.


* Item Three - What is your hourly wage?

Most trainers will answer $65, $75, maybe even $100.

That's a load of crap!

If you work 10 hours per day on your business doing everything from writing sales copy and making bank deposits to sending press releases and writing programs and only train 3 client at $75 per hour - you make $22.50 per hour.

Not $75.

Identify what your highest return activities are and spend 80-90% of your time doing those.

Delegate, eliminate or at least streamline the 'low return' activities and your income will immediately go up.
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If you think that's helpful you need to see what Pat and Alwyn Cosgrove have come up with to help you even more.

Pat obviously knows what he's talking about.

And I think a lot of trainers forget that Mr. Cosgrove has a ridiculously successful fitness facility that has made him financially independent. He doesn't even need to show up to the place anymore if he doesn't want to.

They've got the business of training down cold.

Get over to http://CosgroveandRigsby.com so you can start to enjoy your life.

Take more vacations.

Have more fun.

Stop worrying about cash-flow.

The most successful people, not just fitness pros, continually invest in themselves.

No investment on earth will produce a greater return than your own education.

Why not learn from the guys who are producing consistent results and doing the things you're dreaming about?

http://CosgroveandRigsby.com

Who loves ya? ;-)

Yours in prosperity,
Jim Labadie
http://CosgroveAndRigsby.com

PS- When is your next worry-free vacation scheduled for?

http://CosgroveandRigsby.com