Fast Track to Fitness Failure
How to avoid the kiss of death…
If you make these two mistakes in your business then you’re most likely on the fast track to fitness failure.
Here’s what I mean.
Most entrepreneurs are trail blazers, they’re risk takers and they thrive on out-of-the-box thinking.
You’re probably one of them - and it’s an awesome thing to be because with big risk comes big reward.
But then there’s the dark side of being an entrepreneur.
The “dark side” of entrepreneurship is called desperation.
Desperation typically kicks in when you have nothing unique, special or of value to offer the market place and so you do the two things that are most counter-intuitive to the entrepreneurial spirit.
1. You become a copycat
2. You devalue yourself by dropping prices
Here’s the problem with this desperate way of doing business.
First, people can always (instinctively) tell when YOU ARE DESPERATE. No one wants to do business with desperate people.
See, the market place already knows who the EXPERT for that product or service is.
They can smell desperation and no matter how much you copy your most successful competitor or lower your prices - your competitor will always dominate.
Plus, the only thing that dropping your price will attract is the WRONG kind of client. The kind you don’t want to do business with, the kind that are a pain in the butt to deal with.
That’s why desperate businesses fail all the time.
Burger King will always be in McDonalds’ shadow.
Seattle’s Best will always be in Starbucks shadow.
Gateway will always be in Dell’s shadow.
Pepsi will always be in Coke’s shadow.
These organizations need to offer something unique, special and of greater value in order to break free.
Being a copycat and devaluing yourself by dropping prices is the ultimate sign of desperation and the biggest mistake you can ever make.
Here’s how to avoid desperate business practices…
Grab a pen and paper and write down these two questions, and then answer them in detail…
1. Who is my market?
2. What unique, special, and high value service do they want?
And then build your business, prices and marketing around your answers.
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Comments on Fast Track to Fitness Failure »
A local big box gym in my area is now selling a Feb “Special” - 2 people for 12 months for $175! Not $175 per person, but $87.50 per person for 12 months. I called and they went on to say free child care, free classes, and free tanning. They have greatly devalued themselves. People join my facility all of the time saying that they are tired of waiting on machines to excercise and being a part of “free” classes with 75 people. All of their trainers have left and went to other facilities. They have lost their professionalism.
Great topic, many of us when we barely started our fitness careers felt that way sometimes even took cancellations personal. We can not be desparate, just be yourself and know your craft. Relax and be the greatest trainer in your region.
Bedros, great reminder! I have been guilty of doing this and the truth is it only got me a few clients who I really did not care for.
By far, the best marketing for me is when I position myself in a unique, high value way like you suggest.
Thank you!
Yeah, it is easy to get into this desperation ‘mind frame’ when the chips are down… but really if you step back and look at your business from the outside you can easily find several high value, special, and unique selling propositions that will allow you to keep your rates high and attract the RIGHT type of clients.
Bedros
Great topic! There is a big box gym here that is now selling gym memberships for $10 per month with no contract! A major decrease in service to their members.