Two of my clients this week have run into some trouble.
They have Personal Training (PT) businesses, they are injured and their injuries require surgery. Now while this is not the end of the world – you can run a PT session lying on your back and in your PJ’s if you want, but definitely your PT clients might be expecting a little more from you. Demonstrations, participation, walking the talk!
Now while temporarily you will be forgiven for not ‘being there’ for your customers, in the longer term it pays to be prepared for worst-case scenarios.
As a service based business that means having a ‘plan b’ for you as the person responsible for delivering services. You should also consider setting up so that part of what you do can be commoditised – i.e. You can make money without having to turn up (money while you sleep).
As a PT that could mean providing on-line classes, writing a book, developing podcasts and webinars. Remember as an entrepreneur every challenge represents an opportunity!
You should also consider having people in the pipeline who can step in for you. The only way to do that effectively is to create an operations manual, that for a PT would include the documentation of a series of classes that any PT could pick up and run with. Now while this is not ideal (as part of what your clients are buying is ‘you’ and your own unique style), if you can bring that flavour into your operations and train people in ‘your’ way you have a greater chance of creating a sustainable business.
Injuries aside, as I’m sure it must be an occupational hazard, you just might want to take an occasional holiday, so the same rules apply.
Businesses do not happen in isolation from our lives and other businesses. As a business you need to have a contingency for all kinds of ‘life’ scenarios, when you are sick, the kids are sick, you need to be there for friends or family.
And for ‘business scenarios’, what happens when you have too much stock, not enough stock, when your supplier lets you down etc. By having a risk management strategy you can at least prepare yourself for such events.
What are the scenarios that put your business at risk? What can your service based business turn into a commodity?
