Hey there! Welcome back to another exciting episode of The Female Empowered Podcast. What we will be diving into is a unique aspect of small business success – the importance of having a business that is more than just YOU as a practitioner.
This episode is great to listen to if your goal in the future is to still generate revenue while you are not working, to be able to possibly sell the business in the future, or to truly have more freedom and more opportunities. The answer to all these possibilities is having a strong management team.
However, I am not saying that if you do not have a management team you are not a business.
This episode is made for those who want to generate revenue while they area away and those who want to have a lucrative and successful exit strategy.
Let’s talk about:
- Introduction to the topic
- Why this episode is for you
- The number one benefit of having a strong management team: It Reduces The Dependence On You As The Owner
- What made me realize that I need to restructure my business
- The difference between having a business that YOU are running and a business that runs on auto pilot
- The second benefit of having a strong management team: It Demonstrates That The Business Is Set-Up For Sustainability
- At what cost is it costing you to do everything on your own
- Two things you need to consider if you want your business to survive even without you
- The third benefit of having a strong management team: It Improves Growth And Scalability
- If your business doubled in size right now, could you handle the growth?
- The fourth reason in having a strong management team: It Creates A Good Succession Plan
- The importance of having a well thought out Succession Plan even if you don’t want to sell and just want to fade out
- What a management structure could look like for your business
- Hiring an Operations Manager
- All about a Marketing Manager or a Marketing Team
- What Studio Managers or Fitness Directors do
- What Sales Managers do
- When should you think about having these people on your Management Team
This is what we talk about in our Inner Circle Program. We help you decide the roles you need to hire for based on your unique business model and set-up. So if you are hesitant or confused on what you need to do next but you know that you need a team, consider applying for our Inner Circle Program. I am with you step by step so that you can feel like a whole new business after and feel more like the CEO of your business as you plan your exit strategy.
Thanks for listening! If you enjoyed this episode, please leave a review for the show to help other female fitness and wellness professionals find our podcast!
Interested in being a guest on a future Female Friday episode? Email me at [email protected]!