c. what part(s) of a business plan do you struggle with when developing your business plan?
- I think I struggle most when it comes to my competition. I know there are a lot of people offering online coaching and meal plans – although I have not identified which ones are my closest competitors. Creating a Cash Flow sheet and actually keeping track of my expenses in a real way is something that I have not done in the past few years – I would just get clients “here and there” and I would mostly just be spending money on my business.
d. Do a SWOT Analysis for your business and post it in the forum.
My business: Camy Kennedy Consulting: helping women find balance in fitness, nutrition and life. Offering online services for target audience, women ages 20-39, who are ready to commit to a long-term solution in finding balance, health and happiness. My clients have a history of extremes, whether extreme exercise or dieting, and are looking for a better way to live. They are have the ability to see that the long term goal is a balanced, healthy lifestyle rather than rapid weight loss. They are willing to look within, take responsibility, change their beliefs, and conquer their goal.
(Also offering in person: personal training, and corporate wellness)
- Strengths:
- I am building a bigger network in the Raleigh area to offer nutrition and fitness services
- I have access to a network of fitness professionals in FMI where we can promote each others' services
- I have several affiliate links set up for various companies
- My nutrition/fitness coaching is different from others in that I focus mainly on women and teach them balance and offer spiritual and emotional support during coaching.
- I have earned some referrals already from previous clients as well as new clients from training in the gym.
- I have a strong following on Fit.Faith that I can use when I introduce products.
- I begin working at a gym doing personal training and will gain some experience with program design for future ebooks.
- Weaknesses:
- My website needs to be redone and organized with a call to action and clear services.
- I need to build up my email list and start emailing weekly and blogging weekly to build up trust from my followers.
- My marketing, SEO and blogging could use some work.
- I have several products that I “could” launch online and I have not yet — recipe book, momentum training program, glute training program.
- I am disorganized with my finances and schedule at times.
- Opportunities:
- This business model focuses on a demographic that is searching for a long term solution – they also have body image issues, my business provides a solution for the need.
- My target market is willing to spend money on things that enhance their appearance or will make them feel better, they are searching for happiness and health.
- By creating varying levels of products and services, I can continue to offer the same client multiple products as they move through the sales funnel. Ultimately, I can cultivate avid followers who will opt in to higher priced coaching options.
- I have a national network of people in the sports nutrition industry that could serve as supporters, partners or referral opportunities, as well as guest bloggers, webinar partners, etc. For future physical events, I have a variety of gyms that would allow use of their facilities.
- Fit.faith can be used to promote Isagenix, another revenue stream.
- Threats:
- There are other people out there who have been doing this way longer, with an established business, being a newcomer it will take time to build up the following and revenue that I desire.
- There is no cash flow — meaning, I am taking my personal assets to fund this business. At some point there needs to be an ROI or this is not sustainable.
- Currently, I charge too little and give too much to my clients — I need to change this in order to bring on more clients and have time for them.
- I have been offering training sessions to clients who buy the 30 day system — I cannot keep doing this or it will eat up all of my time.
- My site has little content and only 1 ebook. If people come to my site, they are likely to leave without buying anything.
- There are other companies offering corporate wellness, with more integrated plans. If I want to offer nutrition coaching and corporate wellness, I need a solid presentation and a rate plan.
- With my focus in too many areas, I may over work and under-deliver. It may be best to focus on one thing at a time and to do it right.
~Camy