Basketball was cancelled this morning so I ended up on a stair climber. The only beneficial thing that happens when I am forced to make that mode change is I can set a magazine in front of me and get through a few articles while step away… so couple thoughts from today’s readings.

Article 1:
First point that made me take a second look was a report from the New England Journal of Medicine. It read that those who have a close friend who is overweight are 57% more likely to be or become overweight themselves.
This brought my mind to what we do here to combat the effect of the “friends”, which had me think of various efforts to create “community” within the clubs or other via group fitness, group training, retreats, community events, bootcamps, etc. No big deal, I didn’t invent them, but I’m glad we utilize them as a piece of what we do…

Article 2:
The Economistlet me know, just in case I hadn’t noticed personally, that the US economy has “slowed” a bit. Housing market dropping, ability to get credit tightened, inflation (fuel, food, etc.) higher, and the jobless rate is up. Little scary… and off goes my mind again to what am I doing about it?
I’m not bright enough to fix it for the US economy, but in my own life I realized that the little things we do here in the local part of our business makes a huge difference in having stability when the consumer market gets shaky. Just like a retirement planner will tell you in dealing with a financial portfolio you must do with your fitness business… DIVERSIFY.

These two topics fit together because offering group style programs is one way to diversify your ‘normal’ personal services. By trial and error over the years, we have played with many other programs that all were essentially diversification of our existing business model. Adding fitness products, nutritional supplements, aromatherapy, and sport equipment brought a physical product option to those we worked with. Adding an interactive website (or two) brought us to others outside our own area. Adding chef prepared meals to offer clients gave new options. Adding training in yoga offered new group fitness program options. Providing fitness professional education programs provided a new target market. Working with local companies in wellness programming brought us outside the gym. Creating home parties delivered the message to many new faces and gave us the opportunity to present our solutions to a groups of interested spectators.

Point here is that every company, large or small, needs to add some elements of diversification to their offerings. This better protects your bottom line. Should one area go out of favor with the customer you are already operating and ideally generating some amount of revenue in others.

This does not mean lose focus on your primary niche or to attempt to be the master of multiple industries. The fitness industry is insanely huge. I simply suggest you look outside of your one specialty area and add one or two diversified offerings for business security as well as potential business growth.