So you start out working for a gym and then after a year or so you realize that you love what you do and you want to turn it into a CAREER! OK how hard can this be? 

Here are just a few of the things that you need to think about when you start your own business:

• Corporate Structure
• Insurance
• Location
• Licence
• Tax ID numbers
• Website
• Marketing

So let's say you get all of that together without a hitch and then you start promoting your training and other programs. Now of course you are super keen to get some clients and you know that once they start working with you they will never leave! So of course you discount your price as a sign up now special, but what happens after? Have you figured out your profit margin, your marketing costs, your break-even point?

So often we hear trainers say I am too small I don't need to think about this but it is that attitude that will keep you too small! Treat your business like a business and you will not be "too small" for long!

Here is some quick advice for all the future entrepreneurs out there. If you skipped math and hate numbers then you need to hire someone. It is critical to your success that you know math and that you have an understanding of numbers in order to have a successful business.

Here are some of the "Critical Numbers" or" Key Performance Indicators " you will need to know:

• Total Sales
• Sales by Product
• Cost of Sales
• Gross Margin
• Cost of Labor

In order to be successful you will need to know what these terms mean and how to calculate them. For example if I want to know my gross profit margin so that I can one day sell my business or calculate it's worth. Then I not only need to know the equation ----but I need to know where to find the numbers.

Your club software can help you access the information much faster but as an owner you should know what your critical numbers are that you want to use to track your business and how to calculate them. Then you need make it a habit to review them at least once per month. 

My advice is this if you are the product; a great trainer, teacher or instructor, then hire a numbers person.  For a small business, a business coach would be perfect they can help you determine the critical numbers and either prepare them for your monthly meeting with them helping with your accountability or teach you how to prepare them yourself. For a larger operation it would typically be the book keeper or one of the managers with an aptitude for numbers.

Any way you look at it the more knowledge you have about your business the more you will be able to react to changes in the market and stay ahead of your competition.