My name is Jim Thomas and welcome to the Fitness Management update. Our topic today is key steps for the gym turnaround and this is part 1 of 3.
Now, the first step on the gym turnaround, this one is – it’s a crucial time. You must recognize the need. The problem we run into is too many gym owners, they wait until it’s too late. If you’ve got a problem and you know what, if you just think you’ve got a problem, face up to it now. Take action now. You can’t do this too soon but you most certainly can do it too late. You don’t want to wait until that patient’s on the operating table. And speaking from my own personal experiences, this is a hard thing for owners to do. They wait and they wait, “Oh, I’m sure it’s going to turn. I’m sure it’s going to change.” Take action now. The longer that you avoid what’s happening, the worst it’s going to get and the more difficult the turnaround process becomes. Take action. If you’re not sure, take action. You’re not going to lose. It’s going to be to your benefit.
Next, you must get an immediate grip on your finances. Now, what we will typically recommend is only pay what’s going to keep you in business. If it’s not something that’s going to keep you in business, your utilities and payroll and things of this nature, if it’s not that, everything else can wait.
Next, you need to take a real objective look at your situation and objectivity can be a difficult thing for a club owner that’s going through some emotional times. You might want to make sure you’ve got what I would call that trusted partner along hand that can really help you with this objective look at things but take an objective look at it and develop. What if your short-term plan? What’s the long-term plan here? Don’t let emotion rule your decision making. You’re going to have to make difficult decisions. You may have to lay off some people that have been with you for a while. This is about getting your business back on track.
And then finally, on part one, you will need to determine what has caused the underperformance because if you don’t know why this happened, you’re going to be doomed to repeat the mistake and you need to be sure and reestablish your discipline and I can tell you, in many cases, sales process, closing, follow-up on leads, marketing, training of staff, more often than not, these things are going to be at the core of this but make sure you understand and don’t be saying, “Oh, yeah, it was this,” or, “Yeah, it was this.” No, it was you because that’s the one thing that you can change, all right?
So this is part 1 of 3. We’ve got two more. Make sure you find these and make sure you go through this so you know what these steps are going to be. If you need help on this, call me direct, 800-929-2898. You can email me, firstname.lastname@example.org and we can get your club back on track to success.
Again, my name is Jim Thomas and this has been the Fitness Management update.