There are thousands of people who believe they have the next big idea, but many do not take the plunge into entrepreneurship. For those that do, there are plenty of challenges and risks that lie ahead. Whether it’s opening a new affiliate gym in your community, starting up a martial arts school with your life savings or organizing a local boot camp for your personal training clients, many of our clients know very well what it’s like to venture into entrepreneurship.
For those of you currently thinking about opening your own fitness business, the thought can be daunting, but luckily there are plenty of people who have walked the path before and can offer sage advice. Below are some bits of practical advice:
- Don’t be afraid to fail Most entrepreneurs didn’t hit the big time their first try. In fact, it took them three or more failed business ideas and concepts before they finally found their niche. The difference between successful business owners and everyone else is their ability to learn from their mistakes. In fact, those that fail the first time are more likely to find success their second or even tenth time around.
- Be adaptable – The best startups are able to understand the importance of new technology and find ways that it can benefit their business. Early adoption can give you a competitive edge and might even lead to a major breakthrough in business.
- Be social – Networking is the most important part of a successful fitness startup as a connection with a power player in the field can lead to more press coverage and potentially seed money. Take the time to go out and meet people in person and show off your idea and, of course, don’t neglect your social media presence.
Another piece of sound advice not mentioned above is having a solid business plan in place well before you open your doors. Need help drafting a business plan? Download our free template with actionable tips!
Written by guest poster, Hilary Smith. To learn more about Hilary and read some of her awesome work, visit her Google+