MINDBODY VIDEO

Why Fitness Businesses Should Embrace the Pareto Principle

Episode summary

Have you ever wondered where you should spend your time, money, and effort when it comes to growing your business and retaining clients? If you have, Rachel Vickhouse of MVP Dance Fit recommends embracing the Pareto principle or the 80/20 rule.

Pro tip: Use your fitness software to identify which customers you should focus your efforts. If you're a MINDBODY user, try the Big Spenders report.

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0:00  
Hey MINDBODY, it's me, Rachel here from the O h i, oh, I've owned my gyms now for about five years. So I want to pass along some tips to you, boss babes out there. I want to talk about the Pareto principle. And that's the 80-20 rule. We talk about that a lot in fitness, but I use it for the business. And that's because that 80% of my revenue absolutely comes from 20% of my clients. Same thing with my staff 80% of my top performance in the business is coming from about 20% of my staff. 

0:33  
And and why I'm sharing this with you is that sometimes we we latch on to those clients who maybe don't want to come back, those clients we have a problem selling to, clients that we want to keep giving discounts to, hoping that we can get them to come back. And we we also have staff that cause a lot of noise and some ruckus in the core values in a company and we need to reward those that are really working hard, rolling up their sleeves and doing things day in and day out for you and your core values. 

1:04  
And those clients that have been there since day one, that are willing to swipe the card that don't need all those discounts, they need the rewards. So find ways to get back to them find ways to make sure they know that they matter because they do really matter. I know they matter to you, because they've mattered to me for five years. And I think that's, that's something I want to share. To all you MINDBODY- powered users out there.
 

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