Eric T. Wagner wrote an article for Forbes magazine in 2013, Five Reasons 8 Out Of 10 Businesses Fail.
Here are the five reasons:
#1: Not really in touch with customers through deep dialogue
#2: No real differentiation in the market (read: lack of unique value propositions)
#3: Failure to communicate value propositions in clear, concise and compelling fashion
#4: Leadership breakdown at the top (yes — founder dysfunction)
#5: Inability to nail a profitable business model with proven revenue streams
Looking back over a lifetime of experiences in various business, I know this list to be incredibly accurate. Especially when it comes to fitness businesses.
Many fitness business owners, for some strange reason, think this list applies to businesses other than theirs. They seem to think they are uniquely different, or they will jump to #5 and proclaim this to be the real problem.
When you dig deeper into each of these reasons you discover your weakness and the solutions. The fitness industry has some great advantages when it comes to overcoming these reasons.
To learn more about these challenges and solutions, 6 Figure Trainers is offering a FREE educational seminar:
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. We have opened up times for tomorrow, Saturday, if that works better for you.
This is a content rich seminar, guaranteed to challenge your thinking about the real hard-cold facts. Be prepared to take notes.
Remember you only get results if you take immediate action on your ideas!
