As a fitness business owner, it is important to not only focus on financial success, but also on how your business is impacting your own quality of life. One way to measure this is by including a metric that specifically tracks quality of life in your Key Performance Indicators (KPIs).
This may involve tracking your results in a life satisfaction/happiness questionnaire, or even tracking the number of hours per week that you’re working in the business.
Incorporating a quality of life metric into your KPIs can provide valuable insight into how your business is impacting your own quality of life. This could include factors such as work-life balance, stress levels, and overall life satisfaction. By regularly tracking and analyzing this data, you can make informed decisions about how to improve your business and better serve your own needs.
We can take a lesson from the small country of Bhutan. Instead of using Gross Domestic Product (GDP) as the primary measure of success (like we might with revenue or net profit), Bhutan has a Gross National Happiness (GNH) index. The GNH index takes into account a wide range of factors, including living standards, education, health, community vitality, and environmental conservation, to measure the overall well-being of its citizens.
By embracing a similar approach, fitness business owners can ensure that they are not only financially successful, but that this success carries over to improving their life.