Your Sports Facility Isn’t Just a Hobby-It’s a Real Company!
You run a sports facility. You have secured the funding, location, have the experience in your field and identified the demand for your services. Now what?
What is the next step? How are you going to make money, track progress, forecast future growth, hire staff, and insure you’re running a viable business? How often do you look at the books, NOT your bank account, your BOOKS. I’m talking balance sheets, profit/loss, quarterly, season to season, last year versus this year… When you create budgets how often do you look back at how close you came to achieving those goals? Do you create budgets in the first place? What systems do you have in place to correct mistakes?
For most entrepreneurs that own sports facilities we have found there is one common denominator… they are passionate and excellent at what they do. The area where facilities differ is their ability to apply the business concepts and principles necessary to run profitable, viable sports facilities. It’s incredibly important to keep a pulse of how the business is running and implementing clear systems on how to efficiently run your facility. If you’re constantly focusing on what your prices are and how to market programs yet failing to set aside time to do “business monitoring” stuff then you’re leaving yourself in a vulnerable position.
Always remember, you’re running a business…not just doing a hobby!