The natural size of many businesses should never be anticipated to scale heights such as listing via an Initial Public Offering, because not all businesses are destined for an IPO as part of their exit and growth strategy. We’re going to get a little more specific though, zoning-in on a specific business in a specific niche, which is a health & fitness lifestyle business. The operative word is “lifestyle,” which suggests that you never really have ambitions of recreating the kind of growth a private company with many shareholders would be aiming for, especially if going public is part of that exponential-growth-pursuit trajectory.
Define the glass-ceiling
This is perhaps one of only a few instances in which a generally negative business growth process can be viewed in a positive light and of course I’m talking about glass ceilings. Ordinarily, a glass ceiling is a barrier to growth because it entices certain individuals who are pursuing specific careers to aim for heights they can never realistically reach. However, in the case of someone building their career as an entrepreneur in the health & fitness industry, particularly as a lifestyle business, a glass ceiling is a great marker for a point beyond which they should never really try to grow. You can utilize business software such as https://reputation.com/products/insights-actions/ to help with gaining relevant insights into what to do for your business, especially if you have a niche goal.
You don’t have to become a multi-national supplier of your own range of health and fitness supplements to a chain of gym brands across the world, for instance. If it’s a lifestyle business you’re building, you need to explicitly define a point at which you’ll be satisfied with the profits you make and the corresponding amount of work you’ll have to put in to sustain those profits. Maybe you just want to create a video app with the help of Agora’s no code app builder and connect with your customers to improve their health and impart knowledge on how to be fit. Maybe, helping out others is what you want! And there is no shame in that! However, you need to define a point at which you will be satisfied with your business.
So, define your glass ceiling and be explicit about it, although it’s okay to leave room for some adjustments, as per the dynamic nature of any business environment and industry. With the defined business heights you want to achieve, you can focus on strategies to accomplish those goals. You will need every help you can get for functions, including sales, marketing, customer support and relation, etc. For instance, to get SEO marketing optimization, you can hire a marketing agency with web add-ons that can help you to find keywords for Google Analytics (learn more through a blog similar to https://victoriousseo.com/blog/google-analytics-keyword-not-provided/). In this way, you can optimize your company website to rank higher on the internet and improve your health & fitness lifestyle business.
The simplest form in which to do this is by defining certain goals you have in relation to the operation of your health and fitness lifestyle business like you might want to only have to work 20-30 hours per week and then not want to have anything to do with “work” once you’ve “knocked-off.” On account of this, you will avoid the trappings of trying to grow too rapidly, which can otherwise have you chasing apparent opportunities you shouldn’t be pursuing and running the risk of losing focus.
Another way of breaking the glass ceiling is providing an inclusive environment — regardless of their location — with the incorporation of technology. For instance, a gym often gets a wide range of queries, crossing the existing customer service’s ability to handle them. In such cases, it might be helpful to incorporate a gym chatbot into your website to answer common enquiries about the gym like timings, booking a class, and others. This can lead to automated bookings, enhanced rates of conversion, and a better customer experience.
The correct way to specialise
Because of the existence of an easy way to get into the health & fitness industry, i.e. a web-based business such as a blog with an integrated e-store, what is generally considered to be sage advice is that of specialising in a specific niche within the greater niche. That’s not the full story, with a better way of specialising being that of targeting specific markets within a niche you generally target as a whole. For example, your health and fitness centre could offer specialised services uniquely tailored to EEOICPA claims beneficiaries, but that specialised service would exist as something like a special package instead of it being your only service.