Just after a much-needed holiday break is the best time to take a fresh look at your business goals.
What are business goals?
Just like personal goals, having business goals allows you to regularly check in on the health and wellbeing of your business. They are a chance to take stock of your achievements as well as areas you’d like to improve in.
Business goals are also a great way to make sure staff are happy with their own professional paths and development.
After all, it’s the people within the business that make it run smoothly and ensure its success.
Why should gym owners refresh their goals for 2023?
The start of a new calendar year is the perfect time to assess the past twelve months and make plans for the year ahead.
This year, especially after the past few years of near constant upheaval, could be a crucial one for many business owners as they adjust to the so called "new normal".
Covid-19 changed the game for gym owners
The pandemic obviously had huge impacts on the fitness industry, with gyms needing to temporarily pivot their delivery models from in-person to digital to hybrid and back again.
It's also meant that, unfortunately, many successful businesses are only just able to keep their doors open.
Don’t feel alone if you feel like you’re still making up for your losses - many are in the same situation and are struggling to get back in the black. By keeping your head down and sticking to your goals you'll be much better placed to improve your situation.
How to know what to change in your gym
The best way to approach potential change is to check in with your clients. Engage them in conversation, ask them to fill out questionnaires, and create social media posts asking them for feedback.
This should be your starting point to gather ideas about potential directions for the year ahead.
Sometimes feedback can be confronting though, so be prepared for some real answers. But remember that taking on their suggestions has the potential to take your business to the next level and beyond.
4 common gym business goals
While business goals need to be tailored to suit your individual business’s situation, there are some common areas owners tend to focus on:
1. Greater membership analysis
Do you want a better understanding of your customers? Gym management software can help you understand who is entering your gym and how often, while marketing tools such as surveys will give you precise insights into your member base.
You can use this information to shape all of your other business goals in the year, as everything you do should have your members’ interests at heart.
2. Increased revenue
It (mostly) goes without saying that most businesses would like to increase revenue because, if nothing else, it’s a measure of success.
But how do you do it?
Being unafraid to try new things and dropping things that aren’t working to spend more time to focus on what is working will get you on the right path.
Considering new payment methods could also be a way to make life more convenient for clients too.
3. Attracting more clients
Keeping new clients walking through the door is the lifeblood of most businesses, gyms are no different.
So, something to consider for gym owners is that more people are working from home than ever. It could be time to re-assess your class schedules to attract and retain more local clients who can come in during their lunch breaks or in-between meetings.
Other goals to consider could include partnerships with other health professionals to help improve your brand visibility, and increasing your social media following.
4. Improved client retention rates
Keeping people renewing their memberships is a key way to keep your gym business healthy. After all, most of the time it’s easier to keep an existing customer than it is finding a new one.
While there are various reasons that people fail to renew their gym memberships, the best thing you can do to retain them is to provide value.
Often this is easier than you think, and is simply based on knowing what your clients are looking for in a gym.
So focus on individualised service, happily accepting feedback and not being afraid to make changes where possible. This will get you a long way to where you need to go.
Measuring success in 2023
Just as your goals are individual to your business, the way you measure success should be also. Here's a few ways to stay in check with your goals:
Gather feedback regularly
Remember that taking feedback isn’t always easy or nice but it’s the best way to measure the impact your decisions are having, so be prepared to do it every few months.
Feedback is also a fantastic way of providing a personalised and effective service to your clients because it makes them feel listened to and important.
Splitting goals into achievable chunks
By splitting up your goals into smaller chunks you’ll feel less overwhelmed by the larger ones.
Looking after yourself too
Be sure to keep a focus on your own mental health and take the time and space you need to remain focused and positive about the future.