The key to doing what you love is turning it into an income stream that comes to you passively. And to do that you must understand the three stages of entrepreneurship.
About half of our readers have a job working for someone else (for those of you who own your own business keep reading, I'll get to you in a second) You are an employee giving your time in exchange for dollars. You have no leverage on your time. You work a little, you get paid a little.
You work a lot, you get paid a lot. But if you were to get sick, or get hit by a truck and put in the hospital your income would stop. You have no leverage.
Some of you got sick of your boss, figured you could do better on your own, decided to start your own business but ended up working for just another doofus boss. (No offense.)
Basically the situation you are in here is even worse than the situation you were in when you worked for someone else. Now you have the increased headaches of working for the same person you sleep with at night. You have overhead to worry about and insurance issues to deal with. Still, no leverage.
Now you may have hired some employees (a little leverage). If you decided to call in sick you have people to cover for you. But over time without you running the show the business will fall apart.
Building A Self-Running Business
But the true business owner creates a business that will run by itself even when that owner is not there. The owner has completely removed himself from the day-to-day operations. He has put people in place to create the machine that fulfills his or her ideas. Complete leverage.
And that my friend is what you need to aspire to. When the business runs on its own. When it follows a set system you are then free. Your goal as a business owner is to take every little thing that you do and turn it into a step-by-step, connect-the-dots, system anyone can follow. If one employee leaves or is fired a new one can be plugged in like a fresh battery.
All too often I meet people in this industry from personal trainer to golf coach, who are stuck in a job that they now hate. Originally they came to the fitness industry because it was something they loved. But unable to turn it into a leveraged situation they are now sick and tired of a career they had hoped to fall in love with.
Now they are discouraged and bordering on bitter because this choice has turned sour on them. They have no leverage and they are fearful to take the next step. You must not be fearful. You must understand that you only lack an idea to make it happen. My goal for our newsletter at www.MarketingTipsForPersonalTrainers.com is to help you avoid that situation. To learn how to get leverage on your career.
In business, it is said, that the only true leverage you have on your business is marketing. Everything else is a static endeavor. Think about it. You can only teach a crunch a small percentage better than the coach next to you. You can only improve the push-up by tiny amounts. So on a technical level you reach a level of competency and everyone is the same.
Where the leaps and bounds in a product or service come from are in the marketing and positioning of that product or service. It is what is wrapped around the product or service that demands a higher price point. You must understand that it is not what you know that gets clients to come to you.
Whether you own the business or you are the business your ability to earn an income you are proud of and an lifestyle you can brag about comes from the way you market and position it.
Some of you have heard me talk about Dr. John Gray of Men Are From Mars and Women Are From Venus fame. Here was a man who received his PhD through correspondence. Had no formal studies on marriage difficulties and who was a monk earlier on in his life. On the other side of the coin is Dr. John Gottman who received his PhD from a prestigious American university and who had thousands of studies on marital problems.
Both were authors of books. Who sold more? Not the overly educated Dr. Gottman, but John Gray who, with great marketing went on to sell millions of copies of his books. A television show and audio programs added to the millions of dollars he made and he is now a very happy man living in his dream home.
Dr. Gottman still sees patients on his couch. Why the difference? Marketing. Marketing which created leverage and ultimately freedom. These things are there for you as well if you understand the difference between working for the business, being the business, and owning the business.
About The Author
Jonathan Edwards is a former Olympic athlete and now a marketing consultant for guru's and mini-guru's in the performance enhancement industry. You can go to one of his websites at www.marketingtipsforpersonaltrainers.com and sign up for his free report The Top 10 Mistakes Fitness Professionals Make When Building Their Business. You'll also want to subscribe to his monthly print newsletter Marketing Tips for Fitness Professionals that brings you cutting edge marketing ideas like the ones you just read above.
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