Responsible Business Ownership
Today, I wanted to discuss ways we, as responsible gym owners, can improve, based on some experiences I have had with some of our clients. When it comes to losing clients, regardless of the reason it is important to think about “Where can we take responsibility and what can we do better?”
Abdicate vs Delegate
One important element is the difference between abdicate versus delegate. In the financial world, a lot of times business owners will hire a bookkeeper and abdicate the responsibility… The difference is, if a business delegates they are assigning the responsibility to someone else but staying in the information loop.
If they are abdicating something it is assigning responsibility to someone else and walking away, no longer paying attention to it.
At No Point Should You Ever…
In order to grow your business, developing a relationship with the people you have assigned a task to is one of the most important things you can do. At no point should you ever abdicate your financial responsibilities.
As a Gym Owner, you always will need to be involved in your financial situation, even if you hire a bookkeeper. It is important as that business’ owner to know the in’s and out’s of the entire business, that way you know what tasks are OK to delegate or abdicate from.
Your finances are never something you should abdicate. In order to run a successful business it is important that you remain involved in all financial matters. This will help you know how and where to grow and improve.
I encourage you to watch our video for my advice on where you need to be involved and how to make the choice on abdicating versus delegating.
Don’t forget to join our supportive Facebook Community for Gym Owners to learn directly from John and connect with other gym owners looking for a better cash flow system.