I am packing up for another road trip, so this will be short.
But before I hit the road, did you see this?
As of the beginning of July, the US economy has entered its longest period of economic growth without a recession in the history of the country.
We have now experienced 121 months of growth as of July 2019. You can see more details here.
This is a huge milestone for the country and the economy. Something we should all be very proud of.
No one knows how long these good times will last.
I am fortunate to have been in business in the booming times as well as the recessionary times. It’s defiantly easier to grow a business in good times. That is why we have seen more and more competitors opening for business in our neighborhoods in the last few years.
The potential downside of the starting and running a business in the good times is that we can get sloppy with how we do things. How we market and the systems we create or don’t create. Then when things change as they inevitably will, we must scramble to maintain our market share.
Now is the time to prepare for when the economy takes a turn in a different direction, as it surely will.
Certain fitness trade publications are now describing the fitness industry as saturated.
If they are correct, the industry will experience a major upheaval when consumers have to be more careful where they spend their hard-earned dollars in the future.
Compounding this challenge is the reality that the consumer is also changing. They are more educated about fitness, more aware of their options, more focused on what they want, and more willing than ever to try out new things. Brand loyalty is not what it used to be.
However, and this is critically important, it is possible to build a strong business in recessionary times. I started my training business from nothing in 2007 and experienced massive growth through the 18 months of the great recession of 2008 and into better times.
Having a business now, regardless of its current profitability, is an advantage. With a toehold in the market, you can make changes now and insulate yourself against the inevitable market changes.
How do you do this? By educating yourself NOW and putting new things (systems) in place that makes all of your competition a non-issue.
Your first step is to take advantage of the offer below. What do you have to lose?
