Podcast Episode 12: 3 Ways to Beat the Summer Fitness Slump

It seems counterintuitive. Wouldn’t you want to workout in the summer?  All those shorts, cute sundresses, rompers, and bathing suits show more skin and require more confidence than your baggy winter sweaters. But, alas.  No.  What seems like a busy time for fitness is actually known in the industry as the dreaded summer fitness slump.

Listen to the She’s On Her Toes Podcast here.

You know, that time when it seems like almost all of your clients head out of town to the beach, the mountains, fabulous trips to Europe and the Caribbean, and a few more trips to the beach for good measure.  It’s a time for fitness studio owners to hunker down, spend as little money as possible, clean out your back-storage room, and anxiously await your vacationing clients to all come back for a busy Fall—please come back!  Pretty please!  You haven’t forgotten us, right?!  You have to workout eventually …  seriously, we miss you.  Come back soon …

But what if you could evade the summer slump?  Is it possible to actually grow your client base in the so-called slow summer months? You’re damn right it is.  In fact, adding clients in the summer is possible—yes, there is a segment of the population that doesn’t take a 3-month vacation.  Unfortunate as they are (poor “vacationless” souls), they can keep your summers busy which is a great morale boost for your Team not to mention nice for your finances. Here are my top 3 ways to beat the summer fitness slump:

Don’t Switch to a “Summer Schedule”:  It’s tempting to think that when a large segment of your client base heads out of town, you’d be better served to switch to a “summer schedule” and eliminate or consolidate classes.  While it seems that you would save money by not having to pay a teacher for a class that’s not full, you’re actually giving clients a reason not to visit your studio.

The first summer Pure Barre Winston-Salem was open, we decided to eliminate the 9:45 AM class because attendance was really low.  We rationalized that clients would just come to the 8:30 AM class or another time in the early morning or afternoon instead.  This was a huge mistake.  Clients who regularly took class at 9:45 AM thought we had taken the class off the schedule permanently and we actually lost about 15 clients who just couldn’t understand that the class would be added back at the end of August.  Head hits desk.  Bourbon is poured.

Lesson learned.  Now, I don’t switch to a temporary “summer schedule” which eliminates otherwise popular class times.  Removing classes can confuse your clients and thus give them a reason not to keep taking class at your studio.

Do Schedule Pop-Up Classes or Community Events:  The key to attracting new clients in the summer months is to host community events or free classes that are open to the public. In addition to creating interest in your studio for new clients, community classes are also fun for your existing client base—a win-win for your business.

But as a business owner, there is a lot of risk involved in hosting a class outside.  You’re trying to re-create an in-studio experience outside where things such as traffic noise, weather, and a host of other factors could potentially ruin the experience for your paying clients and any new clients just learning about your business.  Ah!  It’s a lot of pressure!

If you invest in the proper equipment and have some back-up systems in place, hosting a Pop-Up or outdoor class should be pretty painless.  How did we do it?

First, we invested in the proper equipment including a branded tent, branded table and tablecloth, a portable speaker, and wireless microphone.

KD Canopy:  We purchased our tent from KD Canopy several years ago and it’s been used a lot! While the company will tell you this tent can be set up by 2 people, you’ll have a much easier time with 3 or 4. The quality of this tent is great and it’s easy to pack up, move, and store.  We also added on a branded tablecloth, which we’ve used many, many times more than the tent.  Definitely get the tablecloth!  It was an easy add on that is a staple to our marketing efforts at events.  Both the tent and tablecloth have been great purchases and make a very professional first impression.

Weltron WAS-TUBE 5 Portable Bluetooth Active Tower Speaker ($455.04):  We literally just bought this speaker after learning about it from a company we had been renting equipment from for our previous outdoor classes.  While the cost seems expensive, we were paying the rental company $400 for each use of their equipment, so this speaker has already paid for itself and we have several other outdoor and off-site events planned before the year is out. I bought this speaker through Amazon using American Express points, making it virtually free (another way to save).  Pretty amazing—which also describes the sound quality of the speaker.  Did I mention it’s extremely easy to set up, break down, and transport?  Simply connect your iPod or other player to it and turn up the volume.  If you’re looking for professional-sounding equipment for indoor or outdoor use, look no further.

Samson Airline 77 Headset Wireless System with Fitness Microphone ($299.99):  This is a similar model to what we use in our studios, which is a huge advantage to teaching a class in an unfamiliar environment.  You can easily connect this system to the Weltron Tower Speaker and have both music and the mic working at the same time.  Just plug the mic in, connect, and use.  It’s that simple.  We had a back-up mic just in case.

Announce a Multi-Month Challenge: Initiating a multi-month challenge is a great way to keep existing clients engaged and regularly taking classes in your studio during a time that would typically be slower.  It’s also a great way to keep client energy high and keep your studio relevant.

Starting June 1st, we are kicking off the Ruby Barre Challenge at Pure Barre Winston-Salem and Pure Barre Clemmons.  What is the Ruby Barre Challenge?

  • The Ruby Barre Challenge is a 7-month Free Challenge that anyone with an active package can participate in.
  • Clients are challenged to take 15 classes each month staring in June and finishing in December.

Here’s a picture of the Challenge Board we created …

She's On Her Toes Ruby Barre Challenge.JPG

What do you think?!  We actually had to get a second board … but I love the “ruby” magnets that everyone can put by their names to keep track of their progress each month.

At the end of the Challenge, we’ll have a celebration for everyone that successfully took 15 classes each month.  And for the first time ever, all Challenge winners will sign a red barre that will hang on the wall at the studios.

While many of your clients will take the summer months to spend more time traveling than taking classes in your studio, that doesn’t mean you have to accept the so-called summer slump. By taking the time to plan some great events and keep things fun and engaging during the summer, you can actually keep building your client list which can mean thousands in additional revenue for your business at the end of the year.

Listen to the She’s On Her Toes Podcast here.

Podcast Episode 9: How to Get New Clients to Your Business Every Single Day

What if there was a way to actually spend your advertising budget to bring guaranteed new leads into your business each and every day?  Sound too good to be true.  It’s not.

Paid social advertising is the most effective way that I’ve found to advertise my studios.  But, we aren’t just placing ads.  We’re generating leads.  There’s a difference.  And that’s what we’ll be talking about today on the podcast … How to use ads to generate new leads for your fitness studios every month.

Click here to listen to the She’s On Her Toes Podcast.

She's On Her Toes

And once you have the contact information of these people, you can keep reaching out to them—until they tell you not to.  When you think about paid social ads for your studio, think bigger—you want to generate leads and build your contact list.

And we’re so excited because today on the She’s On Her Toes podcast, we have our first guest, David Philips, founder and CEO of One Marketing.  David is the brains behind all of my studio’s Facebook and Instagram ads.  We talk about our latest ad (you can watch it here) and why it’s working.  Can you believe one of my talented teachers shot the video and edited this?!

As of this post, this amazing testimonial ad has brought in about 40 leads in just 2 short weeks.  It’s literally our most successful ad yet.

During the podcast, my managers, Emily and Christina, share how we reach out to these new leads and get them to sign up for their first class.  We have a whole process, of course!

Since the goal of this website and podcast is to give you actionable information that works, we want to give you more information about how create your own lead generation campaign.  Learn more here.

If you are interested in contacting David directly, check out his website and learn how his advertising platform, StudioEngine, can help you generate leads and get prospective new clients to reach out to your fitness studio.

Check out StudioEngine for yourself. 

Click here to listen to the She’s On Her Toes Podcast.

If you liked the content, please leave us a review!

VIDEO: Using Paid Social Ads to Generate Leads

If there is one thing that has totally transformed my business over the last year, it’s the way we changed our approach to advertising.

Instead of simply running ads and hoping people will see them and come into the studio, we’ve created a lead generation campaign, which helps us grow our list AND bring us predictable leads every single day!

Check out Tuesday’s post to learn why it’s important to build your list and generate leads.

How does it work?  I recently interviewed David Phillips, my online marketer.  He does all the paid social and online marketing for my 2 Pure Barre studios.  Watch the video and learn more about how you’re literally leaving money on the table by not using paid social to generate leads and grow your list.

We also talk about specific things that both worked … and flopped … for my studios over the course of 13 months of advertising.  I’d hate for you to make some of the same mistakes I made–although each mistake lead to our current advertising strategy, and it is definitely working!

David created a special page for anyone interested in contacting him to learn more about how to generate leads.  Simply click here.

Or use this link: https://www.gymengine.io/soht-questionnaire

 

 

What’s the Lifetime Value of Your Average Client?

One of the questions I’ve been asking myself over the last three months has been, “How much should I spend on marketing and advertising on a per client basis?”  Essentially, I’m trying to figure out how much is too much so I’m not wasting money and eroding my net income.  Determining this value could also be useful when planning my monthly clothing expense budget.

I just finished a great book called, Buying Customers: Revolutionary new rules for you to get more customers with far less money, by Brad Sugars.  In his book, Sugars discusses the importance of looking at marketing and lead generation as an investment rather than an expense.  Why is that?

Well … when you calculate the Lifetime Value of your average client or customer, you might realize that you can spend more than you thought to attract new clients or “assets” to your business.

This week I took the time to determine the Lifetime Value of my average client as well as my highest spending clients.  Here’s what I discovered:

First, I wanted to look at the value of an average client in 2016.  To calculate this, I took my annual sales divided by the number of active members and came up with $1,675.  Our clients on Pure Barre Platinum (12-month contract) pay $139 x 12 months = $1,668, so I find it valuable to know that an average client would spend about $140 each month on classes and clothing.

Next, I ran a “Big Spenders” report in MindBody, which is the client management software we use at my studios, to determine the value of my top clients in 2016.  My top 100 clients, or the top spending 100 clients, had an average annual value of $2,545.  My top 10 clients, or the 10 clients who spent the most at my studios, had an average annual value of $4,097!  This means my very best clients were spending about $341 each month or 144% more than my average client!

But these are just annual average values and my typical client stays on for about 3 years.  This number was a little tricky to determine, but I did the best I could looking at my top 20 clients and how long they’d been taking class.  Then I did a simple average to come up with the 3 years.

Based on this information, the Lifetime Value of my average client is $5,025 and the Lifetime Value of my top clients is $12,291.  Or is it?  Each client usually refers at least one friend, so the Lifetime Value of each client at my studios is between $10,050 and $24,582!

What does this mean?  Well, if we don’t get a client to purchase a package beyond our $99 Intro Month, we’ve lost not the value of the next package, but potentially $25,000 or more depending on how many friends that client refers.  Yikes!

It also means that I now have a baseline from which to determine my marketing and advertising expenditures to attract new clients.  If the average client has a Lifetime Value of $10,050, then I can probably spend a little more money than what I have been to acquire new clients.  Specifically, I want to host more events at the studios to promote our Pure Barre community and now I know that spending that extra money makes sense, especially if I can attract more people like my top clients.

Cue the G.I. Joe public service announcement!

I’ve received several inquiries over the last few weeks about what makeup and skincare products I use.  I’ll share my skincare routine with you in my next post.

I’ve also made significant progress writing my book on how to run a successful fitness studio—it’s almost done and I’ve started having discussions about publishing.  This means I’ll be able to increase my posts pretty soon.  Good times!

Until then, stay on your toes!

Buying Customers: Revolutionary new rules for you to get more customers with far less money, Brad Sugars

 

Does Your Business Have a Steady Source of Leads?

When I opened my first studio about 4 ½ years ago, I chose a location that was amazingly perfect for the two groups of clients I was trying to attract.  Clients literally did the marketing for us by referring friends and we were constantly seeing new faces in classes throughout the day.  And the business grew.  It was amazing.  But this was not typical and certainly did not include any type of business plan to generate predictable, solid leads.

Fast forward to when I opened my second studio and right before it opened, I got really sick—like couldn’t leave the house because I had shingles on my face.  It was not amazing.

Because I was struggling to simply take care of my basic needs (thankfully I had some amazing friends who brought me meals every day), I didn’t have a lot of time or energy to execute a lead-generation campaign and … the studio did amazing.  No, actually the opposite.  We really struggled building our client base.  I’ve since redeemed myself and will share how I created a way to bring in steady, predictable leads to both of my studios.

Are you skeptical?  If you are, that’s cool.  I’m going to take a stab in the dark and say that if you are skeptical, you haven’t been tracking your existing marketing campaigns.  Am I correct?  It’s ok.  But, you need to start tracking–like today.

First Things First, Start Tracking Your Marketing Campaigns 

Before we jump into things, it’s important to discuss the concept of tracking your marketing campaigns.  First, ask yourself: Where do I get my clients from?  Newspaper or magazine ads, Facebook, Instagram, ads on Facebook and Instagram, referrals, walk-ins?  Make a list and try to give a percentage to each source.

Second, ask yourself: Am I currently paying money to advertise and I haven’t received any clients from that campaign?  If the answer is yes, then stop spending that money.  Cancel the ad or whatever it is.  It’s not working.  If you’re not sure if you are gaining leads from a campaign, start tracking and see what you find out.

I used to have an advertisement in a local monthly magazine.  At first, it was great and probably brought in close to 30 new clients over the course of two months (not too shabby), but after a while, it didn’t work and nobody mentioned that’s where they had heard about us.  So, I don’t run that ad anymore.

Find Out What Does Work to Reach New Clients

Now that you have eliminated any marketing campaigns that aren’t working for you, you’ve freed up some money to redirect towards the things that do actually work to drive new leads to your business.  Now ask yourself: What’s working to bring new clients to my business?  Should I do more of that?  Or should I investigate something new?

I have discovered that there are really only 2 marketing initiatives that work to bring new clients to my studios: client referrals and Facebook ads.  Client referrals are great because you’re pretty much acquiring a lead for free and that lead almost always (like 90-95% of the time) buys our introductory offer, which is the $99 New Client Special.  That’s like tastes great and less filling!  It’s a no brainer—keep those client referrals coming all day long.

So how do you encourage client referrals?  Below are all the ways that my studios encourage clients to bring their friends and family in to take class.

  1. Referral Fees: Offer a small amount of money for existing clients who bring in friends.  We offer $10 in store credit to any client who brings in a friend who purchases the $99 New Client Special.  If you could acquire a new client for $10, or 10% of what they just spent, would you?    That’s a pretty reasonable Cost to Acquire a Customer (CAC).
  2. Free Class to Client Friends: Offer a free class to the client’s friends.  I am a firm believer in not offering first class free—it doesn’t provide any incentive for people to buy packages and continue taking class and it devalues the service to zero.  If any of my clients are reading this, sorry, free just doesn’t work—it’s something that has been proven time and again at both studios.  Anytime we offer free classes or some kind of Open House with free class, those people taking advantage of the event pretty much never make a purchase—they are unqualified leads that just want something for free.  But … a friend of an existing client with a membership?  That is a qualified lead.  This friend has heard how great class is, how great the studio is, how clean it is, how friendly everyone is, how great the workout is and most importantly has seen how great their friend looks now that she’s been taking class.  Offering them a free class simply provides no excuse for them not to come to the studio and then purchase the introductory offer because they already understand the value of the service provided.  The CAC here is essentially $0.  You’ve already scheduled the class and the other existing clients taking that class are covering the cost of the teacher, electricity, music etc.  It doesn’t cost you anything to offer this free class to a client’s friend.
  3. Sell Gift Cards: Offer gift cards to encourage gifting your service.  This is pretty simple.  Clients can buy their friends a gift card and introduce them to the studio.  Again, CAC is $0 or the nominal fee for each plastic or paper gift card/certificate.
  4. Sell Friend-Centered Promotions: Offer a promotion to encourage clients to purchase for their friends or the friends to purchase for themselves.  Again, pretty simple.  At key times during the year—think Holiday, or Summer, when it’s a little slower—we offer a special promotion (3 classes for $33) designed to bring client friends into the studio to try class.  If you spent any money advertising this promotion your CAC would be the ad spend divided by number of people purchasing—or if you just emailed your list CAC would be $0.  So again, CAC is likely pretty low.

Awesome, right?  Sure.  This is all great.  At most, you’re spending 10% of the purchase to acquire a new client and these leads are qualified, meaning they have a high likelihood of purchasing.

The only problem is—we’re leaving out thousands if not tens of thousands of potential new clients by only focusing on client friends and referrals.  What if the person has never heard of my business?  How do I reach them?

Fast Lane Leads vs. Slow Lane Leads

I hope you’re getting excited reading this because what lies below pretty much blew my mind when I first implemented it.  And it’s totally changed the way I look at marketing and spending my advertising budget.

Before I share the special sauce, we need to review 2 concepts.

  1. I have no idea who said this, but I’ve read it in a few books and articles written by Mike Dillard and Russell Brunson—when they cited it they didn’t know where it came from either. But here goes … Nobody wants to buy a drill.  They want to make a hole.  So, you shouldn’t advertise drills.  You should advertise how to make a hole.  You need to sell the end product or RESULT.  Any light bulbs going on?  Any hamsters spinning on that wheel?  If you’re in the fitness industry, this is such a critical concept, it’s not even funny.
  2. We also need to define the “fast lane” client and the “slow lane” client. Fast Lane leads are the ones we talked about above—friend referrals.  They’ve heard of your business and are ready to buy. They already understand the value and will purchase immediately because they understand the result your product or service will give them.  Remember, they saw their friend get stronger or look better and more fit from taking class, so they’re ready to buy right away.

Slow Lane leads are not ready to buy.  In fact, they probably don’t even know your business exists.  If they do know you exist, they don’t understand the value of your product or service.  Maybe they don’t care about working out, or they think walking is a better workout, or they get childcare at the Y—doesn’t matter, they’re not sold on you.  But … that doesn’t mean they won’t buy in the future.  How could you introduce your business to those Slow Lane Leads?  How could you get them to buy from you?

Using Facebook Ads to Reach Slow Lane Leads

You can use Facebook ads to reach Fast Lane Leads, but Facebook ads are the ideal way to reach Slow Lane Leads—at least that’s what I’ve learned.  So how do you do it?  How do you create a Facebook ad to reach Slow Lane leads?  Here’s a step-by-step guide:

  1. Free Offer: You need a free offer that will have value to Slow Lane leads. This is not a necessarily a free class—these people are unqualified (as of now) and a free class won’t always work to teach them about your business.  You need something that will “wow” them and make them think, “Huh, if this business is willing to give this away to me for free, what will I get when I make an actual purchase?  That must be f*cking amazing!”  Trust me, you have something to give away already, or you can easily make something and will “wow” these leads.  Obtaining the free offer is dependent on this Slow Lane lead giving you their email address.  How else are you going to reach out to them after they click on your ad?  This is how you are going to grow your email list and convert these Slow Lane leads to purchase.
  2. Facebook Ad: Next, you need to write your ad.  The more simple the ad, the better.  Make it clear.  Choose one action and make that action clear—you want these Slow Lane leads to click on your ad and download your free offer.  Tell them to do this in clear, concise language.
  3. Targeted Audience: Now, you must find your targeted audience.  If you have a killer offer and a clear ad, but don’t advertise to the right group, you won’t have any clicks and you won’t get any leads.  Where to start?  How about your existing client base?  Do they have any over-arching common interests?  Did you know that Facebook can create duplicate audiences?  You can take your existing client base and Facebook can find people similar to that list—pretty cool.  Or maybe you just target those who have liked your Facebook page and their friends (I mean, we already know friends are more apt to buy).
  4. Split Test the Ad: You’ve figured out your offer, created your ad, found the audience and you’re ready to go.  Split testing the ad is an important step because, well, you just don’t really know this audience, right?  After all, they haven’t bought from you and don’t know much about your business.  You don’t know what makes them tick.  You’ll want to run a few different ads with different pictures or different copy.  Maybe try testing the ad with different audiences and see which gets the best results.  These tests should just be small buys—I did about $10 a day for 1 week.  After you try a few things, you’ll start to see some patterns or success with one ad or one audience.  Then you can adjust or go full throttle and increase your ad spend.  I actually spent about 3 weeks split testing and learned some valuable information along the way.  I tried 2 different offers, several different audiences and about 8 different ads.

 What were my results after completing these 4 steps?  After only running about 2 ½ weeks, my ad has over a 40% conversion.  That means 40% of all the people clicking on it have submitted their email address and downloaded my free offer.  That’s pretty f*cking awesome and means my offer is resonating with my audience.  So far, from those leads we’ve had approximately 24% purchase our $99 New Client Special, which is also a great conversion.  You have to remember, however, that these leads are Slow Lane leads, so many aren’t going to purchase right away.  You will likely have to reach out to them or email them multiple times to reach a sale.  You’ll need to create compelling and informative email content to educate these leads on why your business, product or service is something they should buy.  It’s harder to earn these Slow Lane lead sales because you have to sell them on the RESULT of your product or service and most importantly, earn their trust.  Slow Lane leads are not quick to make decisions or give something a try unless they trust the result.

So, there you go.  You now know the secret to successfully generate steady leads to your business.  Below are a few resources you can check out to create your Facebook Lead Generation Campaign.  I used all of them to create mine.  If you’d like more information, give me a shout with a message or comment.  Follow the blog by submitting your email and I’ll send you more detailed information on how I created my ads.

Next week, I’ll talk about to-do lists and multi-tasking.

Until then, stay on your toes!

AdEspresso: This tool makes ad creation easy.  You can also make several versions of your ads for your split testing.

Click Funnels:  The video on the first page of this site is totally stupid.  Don’t let that fool you.  Once you understand what a sales funnel is, you’ll wonder how you ever functioned without one.

Magnetic Sponsoring: How to Attract Endless New Leads And Distributors To You Automatically, Mike Dillard: This book was originally written for those in the network marketing business, but it’s applicable to every business.  Read it.  That’s all.

Why Having Multiple Revenue Streams Will Take Your Business from Good to Great

You know that you should diversify your investments.  You wouldn’t want to invest 100% of your money in one stock.  You’d want to diversify to an index or simply across multiple stocks in several industry sectors to protect your money and minimize the inevitable ups and downs of the stock market.  But what about diversifying your business revenue?  Have you thought about safeguarding your business by adding multiple revenue streams?

No.  That’s ok.  I didn’t consciously think about it until about eight months ago.  But in order to run a successful fitness studio (or business), you need to have multiple revenue streams.  Here’s why…

You will protect your biggest asset

My business is my biggest asset.  I’m guessing your business is your biggest asset as well.  And while I don’t sit around constantly contemplating the sale of my studios, it’s important to remember that they are an asset of value and a great deal of that value comes from the predictable revenues or memberships that have been sold.  I am always working to make sure that our reoccurring memberships which we call Pure Barre Platinum (12-month contract) and Open Barre (month-to-month no contract) equal my fixed costs and salaries.  The more reoccurring revenue or membership revenue that your business can count on, the more stable the business is—the more valuable it becomes.  Working to grow reoccurring revenue also has the added benefit of reducing your stress because you’ll know how much money your business is expected to earn each month and there won’t be any worries about how you’ll pay your rent or your employees.

 You can increase wallet share

I discussed this in last week’s post about the value of your distribution channel, but if you can find a product or service to sell one client, you can probably find something else to sell to them in the future—you can increase wallet share for your business.  What else could you sell to your existing client base?  For my business, it’s workout apparel and accessories.  If a client has a membership, selling them workout clothing is a great second revenue stream.  It makes sense—clients would need workout clothes to take class.  What else could you sell your clients to gain wallet share?

 A cash infusion can fuel growth

Developing an additional revenue stream could mean a cash infusion for your business that can fuel growth or allow you to reinvest in the business.  What does this mean?  For my studios, we sell student semester packages three times a year.  Since the students pay for several months in advance, that’s three times a year we receive a significant cash infusion to save for tax payments, purchase additional equipment, make studio improvements or simply add to the studio savings account.

Diversifying your business revenue will take your business from good to great and ensure your biggest asset remains your biggest asset.  But how do you develop multiple revenue streams and increase leads?  That’s what I’ll delve into in my next post—how to increase leads and ensure you have a steady stream of leads to grow your business.

Until then, stay on your toes!

Why Your Distribution Channel Is the Most Important Part of Your Business

If I asked you what the most important part of your business is, what would you say?  Would you say, your Team?  Great answer!  And yes, your Team is an important part of your business, but maybe not THE most important part.  What about your product or service?  That’s pretty important, after all—it’s why you’re in business—to sell your product or service.  But, when you get down to it, it’s your distribution channel—or your list of clients and customers that is THE most important part of your business.

Have I lost you?  Do you disagree?

I’ve said this many times throughout the posts in this blog—I think my team is amazing.  They work hard and constantly challenge themselves, which I appreciate.  However, if one of them moved away and stopped working for me, I would hire someone else and train them.  Eventually that person would be integrated into the team and working hard alongside everyone else.

But, without your list of clients or customers to purchase your products or services, you wouldn’t have anything—just your physical storefront or website and no sales, no revenue, no business. 

The most important thing you can do for your business is to keep growing your client or customer base by getting more leads or prospects who might want to buy from you.  Are you worried about having too many clients or too many leads?  No such thing!  When your business is built on a solid foundation (like we discussed here), you can always hire more employees to help you or open another location to serve this growing client base.

So I’m sorry, what’s this whole thing about a distribution channel?

Think about it.  If you have spent time and effort to build trust with your client base, why would they just buy one product or service from you?  Why could you not try and sell them on multiple transactions?  For instance, in my studios, we sell packages of Pure Barre classes.  Once we get a client committed to taking class and loving it, we’ve earned their trust and they become more open to other things—like workout clothing, which we also sell.

So now we have 2 revenue streams that we can count on from just 1 client, classes and clothing.  What if there was something else we could sell them?  Juice, food, accessories, a new type of Pure Barre class—it really wouldn’t matter what the new product or service would be, because we’ve built that trust, we’ve created a client interested in what we’re selling now as well as what we will sell in the future.

How much better off would your business be if you had multiple revenue streams?  How can you use your existing client list to grow your business by increasing the number of products or services offered to them to purchase?  And finally, how can you grow your leads to grow your business?

That is what I’d like to discuss next week—how to create multiple revenue streams for your business as well as how to increase your leads.  You won’t learn this in business school.  No MBA required.

Until then, stay on your toes!