The unstable context of markets today can spellopportunity to niche marketers. People like my friend Mike Chomitsch. Mike is a Professional Kettlebell Trainer who uses his unique knowledge of working out to help mom’s, jocks, atheletes and those just starting out get fit and feeling better with a unique combination of functional training and muscle confusion techniques which shock and surprise both body and brain into doing things you didn’t know you were capable of!
Introducing Mike (trainer)..
..and Ian (client/customer).
It’s kind of like the situation that niche marketers (including Mike) face daily: they must continuously produce a series of actions (including frequent changes) to entice, cajole and reward their brand’s customers.
We’ve been working with niche marketers for about a dozen years and after hundreds of experiences with scores of marketers we can report definitely a couple things:
- It’s not easy
- It’s a survivor’s game (at the end of the day if your doors are still open, you’ve ‘won’)
- Persistence (or tenacity) is key
- Solid systems make (your) life easier
- A friend in your corner can make a world of difference.
Now, here are the sobering statistics, and NO (!) I will NOT talk about business failure rate..(whew!)
What I will bring to your attention is a figure estimating your relative return (that’s profit to you and me), based on the relative market share you hold. IN OTHER WORDS, relative returns vs. how much of the market you hold:
Big brands earn HUGE amounts more than smaller brands! Bear in mind this is relative return on sales from around TWO PERCENT for operators with less than 20% market share on up to close to FIFTEEN PERCENT for operators of exclusive category areas. Is it any wonder that brands work so hard to grow larger?
For you, the smaller operator (anyone with UNDER FIFTY PERCENT of the MARKET is smaller in brand world), how do you cope? Isn’t enough the big guys have huge systems and employees so they may live in relative leisure, they also make dollar for dollar of sales TWO to FIVE times as much as small(er) operator. Wow. Seems like the deck is really stacked against the small business-person!
Except. For one. Thing.
Large operators (possibly because of their size) are rarely (almost never) on ‘trend’ the way an independent may be. As your brand’s CEO you ultimately have the opportunity to catch the market ‘off-guard’ and fulfill a unique ‘niche’. Your ability to capitalize on this (bear in mind all such opportunties are time-limited) may spell the difference between disaster (think extremes!) and the ability to truly grow your brand (and your business) to a scale that permits both greater returns, and greater market exposure meaning you can get your good idea(s) in front of more people!
In today’s vid Mike trains Ian in proper form and movement of the ‘swing’, a mainstay of kettlebell training and of Mike’s regular ‘Hellcamp’ class.
Mike’s business is typical–he’s had it a few years, only recently relocated to the present facility and is generally happy (kinda) with the results he’s got.
So far he’s done great to capitalize on a trend for kettebells and functional training along with an arc to do with greater personalization and customization that’s going on right now. Mike runs a range of classes with names such as Hellcamp and Gym Con Strength Training; involving activities as diverse as climbing ropes, rocking kettlebells and balancing on gymnastics rings. The classes are fun and challenging. (They also get great results, which is why his return rate is incredible).
Wait a minute. Kinda?
Yes, see that’s exactly the problem. Because Mike ISN’T really happy with the results he’s got. Neither is he happy with the time he’s (not) putting into really pushing the business ahead. Mike doesn’t (perhaps) know it, but he’s dealing with a critical time–although typical for some mid-experienced business folks, he’s in the midst of a bit of a confidence crisis and he’s let things slide as a result.
While Mike’s clients are getting amazing results and diligent attention in all his group and one on one training, Mike isn’t getting the results HE wants from the business including full classes and something that ‘runs itself’ better.
Stay tuned as we follow Mike and Ian’s progress in the weeks to come. Subscribe now!