It seems like yesterday I was sitting around a table in my mastermind group.
We had a speaker presenting on the topic of creating our elevator speech. We were newbies and he found holes in everything we created. It was frustrating to say the least.
A couple of months later I had an appointment with a CEO to present my training program. I arrived on time to be greeted by the Human Resources Officer. The CEO had delegated the task to her. My heart sank. These meeting never went well. She was not my ideal client. I went through the presentation and she politely nodded her head and thanked me at the end. (What a waste of time!)
As she walked me to the elevator, a man approached from the opposite direction, clearly headed for the same elevator. She turned to me and said, “Now you have your chance, he is the CEO.” She offered a quick introduction and the door closed behind us. We had two floors to go and only two of us in the elevator.
As the elevator started moving the CEO asked, so what do you do? I gave the same answer I had given hundreds of times. Then he said the magic words, “tell me more.”
The elevator door opened, and our conversation continued for another 20 minutes.
My elevator speech had worked! His interest clearly indicated that I stood out from the competition and he told me so.
What about your value proposition? Does it make you stand out from the competition?
In his post for Forbes, Five Reasons 8 out of 10 Business Fail, Eric T Wagner says reason #2 that business fail: No real differentiation in the market (read; lack of unique value propositions.)
My work in the fitness industry as a provider, coach, business owner, trainer, consultant and mentor has exposed just how serious a problem this is for most fitness business owners.
Nailing this down is one of the foundation cornerstones of all our programs at 6 Figure Trainers. You MUST state your value proposition in terms of what is important to the customer, and in such a way that separates you from the competition.
The basic strategy is forgetting your features and benefits. They are important to you but not to your potential customers. Your customers are interested in the outcomes that your business provides. What will happen to them if they join your programs? That is what they want and are willing to invest money in.
Creating your value proposition takes work. I know owners who have been in business for over a decade and they struggle with this challenge. Those that figure it out are well on their way to a completely transformed business.
Want to learn more about this and the other 4 reasons business fail? You’re in luck. We have a free educational seminar that covers this material: 5 Reasons Most Fitness Businesses Fail, 3 Ways to be the Most Popular Business in Your Area
This seminar is free, but you must sign up here.
The CEO I talked to in the elevator did not sign up for my programs. My value proposition and ensuing conversation revealed to both of us that he was not my ideal client. We parted ways with a warm handshake and his sincere thank you, for my time. I had a new story to share with my networking group. They loved it and still talk about it to this day.
Remember you only get results if you take immediate action on your ideas!
- Category: Ron's Blog
- Tag: Fitness Business, Fitness Business Growth, Fitness Business Marketing
Posted by admin
Helping you grow your fitness business is the mission of the 6 Figure Trainers Program. Founder and CEO, Ron Gordon brings over 40 years of successful fitness business ownership and growth, to the tips, tricks and hacks described and outlined here.