Got this great question from a fitness business owner:
“What do you do when you’re overwhelmed with tasks BUT don’t have the financial stability YET to hire help?”
Here’s my revealing answer – which may surprise you…
The answer is actually in the question – if your business isn’t generating enough revenue to cover a salary for at least a part time helper, then the business model needs looking at.
We aim to pay out no more than 33% of the total monthly revenue amount on payroll (including your own).
Therefore, if your current monthly revenue is say, £10,000, you want to keep payroll at around £3500 or under (INCLUDING your own pay)
The REAL problem here is deeper.
For most fitness pros the REASON they’re overworked yet still not financially able to hire help is because:
a) They’re charging too little and so profits are non existent
b) Their expenses are currently too high. Too many subscriptions, paying existing coaches way too much per hour, or often paying an ads manager more than they pay themselves!
My advice – really calculate how much revenue your business could generate without increasing its resources (team size, facility size or ads spending amount). SQUEEZE out the additional profits to grow revenue – THEN see if you can afford to hire help.
Then, when you do hire help, make sure you hire a position with most LEVERAGE – that frees you up to more powerful profitable tasks.
So an admin would be a good start for most.
As for sales calls, you can get one of your best clients to do that for bootcamp paid for + commission on sales. They’ll be happy for the part time cash boost AND they’ll probably sell better than we do 😉
