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A week in the life of a successful fitness business owner – Part 3 by Rachel Cosgrove

A week in the life of a successful fitness business owner – Part 3 by Rachel Cosgrove

If you’ve been following our blog for the past couple of weeks, then you know we are tackling time management. What I have found is that when it comes to balance, it is easier for me if every day or every week is not balanced, but over the year I am “in balance”. In this way I might launch a new marketing campaign at the gym with a special, know that we will have a busy week, plan to be there from morning ‘til night every day, and not feel guilty about it.

So I am out of balance this particular week – that’s okay, because the following week Alwyn and I will plan to have a weekend away or I’ll plan to leave work early every day putting me back “in balance.” I have found this all or nothing approach works well for me as long as I make sure to balance things out over the year.

Part 1: Making Money Time ( Working IN Your Business) Read it here!

Part 2: Big Picture Time (Working ON Your Business) and Leaning and Improvement Time. Read it here!

Now that you’re all caught up, let’s dive into the final time management areas to help you balance both your business and your life for success.

4. Administrative/Organization Time

– You do need to take time to get organized, plan out your schedule, look at the numbers in your business, and make lists. During this time you will also handle any accounting, payroll, P&L, or other important reports. Fridays are usually a good day

in the gym business for this because it is usually a quieter day in the gym.

Block out time, shut the door to your office, and take an hour a week to pay bills, do accounting, and look over the numbers for your business. I would also recommend once a day taking 10 minutes to look over the numbers your business did the day before, and what you plan to do that day to keep you and your team focused. Don’t lose touch with the numbers because you are busy being creative.

Allotted Time: Maximum five hours a week

 

5. Power Down Time – This is relaxation time. Completely step away from your business on a regular basis. Take a vacation! Take time for family, hobbies, or just take a break time. Enjoy the lifestyle you have created! You have to completely disconnect in order to be able to fully connect the rest of the time. Chill out and do nothing. No computers or iphones allowed. You will come back to work refreshed and ready to accomplish even more. If you have spent enough Big Picture Time you should have systems in place and a staff in place that allow you to do this. If not, you may need to shift some of your time to work ON your business and get it to the point where you can take this relaxation time, because you need it to be successful!

Allotted Time: Everything left over! (At least one full day off a week to completely disconnect.)

Rachel Vacation 2    Layla hike  Rachel Vacation

You have at most 50 productive working hours a week. This is where I get the numbers for 1-4, they add up to 50. Figure out how many hours a week you are working, cut them back to 40-50, and get laser focused on what you are doing at that moment. You’ll get more done. All of the areas we covered over the past three weeks are very specific. You have to learn to compartmentalize each of these and keep them separate.

Whatever you are doing be fully engaged. If you’re at work, focus on the task at hand. If you are with your family, check out of work and don’t think about it. Be the best mom, dad, wife or husband you can be. You cannot try to blend these and do family time while you’re working, or take care of administrative stuff while you’re trying to make money. They must be separate! This is called The Power of Full Engagement, which is an excellent book we recommend you read to learn more about how to get the most out of each of the above aspects of your life and to give the most you can.

Take an inventory of how many hours you are spending on all of the above and look at where you are out of balance. What needs to shift? Do you need to delegate some of the money making time so you have more time with your family? Or maybe you spend 20 hours a week doing accounting and need to hire a bookkeeper. Be fully engaged in whatever you are doing at that moment and make the most of it.