Today, more and more people are choosing entrepreneurship as a career path. Recently Entrepreneur.com reported that approximately 550,000 individuals become entrepreneurs every month. There are many reasons for this, but the prospect of being your own boss is both exciting and liberating. Therefore, for those who are self-motivated with a strong work ethic, and moderately comfortable with taking risks, owning their own fitness business may be a good choice.
Self-employment and owning a business is not a good fit for everyone. In many instances, at least initially, fitness entrepreneurs will find that they will work longer hours than when they were just an employee. Nevertheless, a person who is patient and persistent can build a successful fitness business which reflects their own personal passion for fitness and health.
While truly exciting, making the transition from an employee to a fitness entrepreneur will mean a change in lifestyle and mindset. So, before investing the time, energy, and money beginning a new fitness business venture, there are some questions that a person should ask themselves. Ultimately, a person needs to take the time to reflect on if they have what it takes to own a fitness business or are they better adapted to being an employee?
Here are several questions that may help a person decide if they have the right mindset:
1. Are you able to begin and complete tasks independently? – Any person who owns any type of business is someone who knows how to and enjoys working independently. They take complete ownership of creating and completing their own work schedule. If fact, initially, there may be long periods working alone without the support of others.
2. Can you establish and accomplish short and long-term goals? – The job of an employee is to accomplish the goals that someone else established. Conversely, a business owner is completely responsible for planning, marketing and overseeing their fitness business. Success will require formulating and implementing a well-designed business plan.
3. Do you have the internal discipline and motivation to work for yourself? – When a person is an employee, their manager or supervisor will set and oversee their work hours and tasks. In order to be a successful entrepreneur, a person must have mastery of time-management and multitasking. A business owner must continuously be self-directed and willing to do what is needed to keep the business moving forward.
4. Do you have good money management skills? – Employees don’t have any of the financial risks for building a strong and profitable business. However, an essential part of beginning a business owner is handling the financial volatility that comes when opening and growing a new fitness business. A new entrepreneur should consider taking business classes and learning new money management skills.
5. Do you know how to measure success? – A successful business owner should almost instinctively know how to set measures of success. Entrepreneurs are responsible for establishing a standard of excellence. Even before beginning your business, it is important to fully envision and understand what success will look like.
6. Are you comfortable being responsible for your own paycheck? – An employer is responsible for the paycheck, benefits and other job-related expenses for their employees. On the other hand, a business owner is responsible their own paycheck, taxes, health insurance, retirement plan, vacation pay, and so on. In order to be an entrepreneur, one must accept the risk of an uncertain paycheck
Today’s article addresses the question, “Should you find a job or start a fitness business?” Conspicuously missing from the discussion was any specific details about the fitness industry itself. This is because the most critical ingredient for success is the business owner. By answering the above questions, a person can gauge whether or not they have the entrepreneurial spirit to even consider starting a business or if they should start job hunting.
What haven’t we covered yet that is important to you? If you would like help deciding in you should start a fitness business or more information, please contact us.
David Michael Gilbertson is the founder and president of 3 Elements Lifestyle, LLC., a Fitness and Weight Loss company that specializes in YOU!. With more than 15 years of experience owning, operating and managing clubs of all sizes, David lectures, delivers seminars and gives workshops on the practical skills required to successfully help you with your health and fitness goals. David also helps you build the teamwork, management, and training necessary to open your own fitness center. For more information on Licensing and Consulting Services Visit his Web site at: www.3elementslifestyle.com or email at firstname.lastname@example.org or call 805.499.3030