(2-minute read, tops)
Every one-man operation in the fitness industry is wondering the same thing: How will I know when the time is right to add an employee or a partner to the mix?
There is no universally correct answer here. Your business is unique, and you shouldn’t take general solutions to unique problems.
How I would attack it…
If I were in your shoes, I would establish a measurable performance target, and make a commitment to “taking the next step” once it has been met.
Maybe it’s a semi-aggressive revenue objective…
“When I get to $15,000/month in revenue I make the jump.”
Maybe it’s an active client headcount…
“Once I’ve got 30+ regulars on EFT, I’m doing this.”
Maybe it’s average workday length…
“I expect to be on the cusp of burnout when my workday starts exceeding 8+ one-on-one sessions, so I’ll pull the trigger then.”
I care far less about the metric you choose than I do about you respecting the target.
Once you hit that target, you pull the trigger on adding an employee or partner. More specifically, you’re going to need to spend money to make money. You can be 100% certain that you’ll be temporarily reducing your own take-home at the end of each month. Remember, you’re investing cash flow now, to increase your earning potential later.
As you work toward this target, set aside time to outline the tasks and expectations that your future hire will encounter. Establish a job description that you are eager to fill when the time is right, and you’ll be prepared to hit the ground running when you make the informed and strategic decision to take the jump.
Hold yourself accountable
Write down your goal. Paste it on the wall or marker board in your office. Next, work tirelessly to get there. With a defined target to shoot for, you can begin the process of competing with yourself. With this approach in place, that eventual temporary pay-cut will hurt less, making you more likely to honor your commitment to business growth.
The good news is that hitting targets feels great, and this major business move of expanding your team will come with a whole new series of goals to chase.