Tuesday, March 29, 2016

MARKET: Customer Interview Strategy

1) Describe who are you planning to interview and why.  Remember that you want to interview not random people but those who satisfy market definition that you developed in the previous exercise.
Since I am currently in business I thought why not interview my current clients? I am interviewing:
Michelle: She is a busy mom with 2 kids, a husband who travels, and she works shift work as a nurse. Michelle and I have been friends for over 13 years and my client for over 4 years. She lives in Seattle, WA.
Joanne: She is also a busy mom, but works more of a regular 9-5 schedule. She has a new baby and is trying to get back into shape. She was referred to me by a mutual friend. She lives in Columbus, OH.
Carol: She is an attorney at a biotech start-up. She lives and works in NYC. I still don't know how Carol found my program, but she has been with me for almost 2 years now and I know we share a love of dogs.

2) List specific questions that you are going to ask in relation to every step in the buyer behavior process such as list of questions for need recognition stage, list of questions for information search, list of questions of evaluation of alternatives and so on. Check this blog (Links to an external site.) on how to interview customers. It is a very good guide on how to formulate your questions and what questions to avoid. 
Need recognition: 
When did you start looking for a fitness program/how long before you purchased did you start looking?
What made you start looking for a fitness program? What are the most difficult parts of health and fitness for you?
Information Search:
How did you find SKF? Where else did you look or what else did you try and/or consider before deciding on SKF?
Evaluation of Alternative:
What were some of the features you liked about the other option(s) during your search for a fitness program?
What did you like about SKF better?
Purchase:
What finally prompted you to purchase your first 12 weeks with SKF? 
About how long had you been thinking about joining before you purchased?
What was holding you back from purchasing sooner?
Post Evaluation:
Which things surprised you about SKF? Example: you didn't realize how much you would actually use a private FB group with other members, etc. 
What would you like to see changed in SKF?

MARKET: Definition and Size

1) Provide a very specific definition of your relevant market. Who are the people with willingness and ability to buy your product? List parameters that you are using to define the market (e.g., B2B or B2C, geographic, economic, demographic, any other descriptors). 
SKFitLife currently serves coaching clients in the US, Canada, Costa Rica, Switzerland, Germany, England, Australia, and Ireland. There are no limits to the geographical locations SKFitLife can service. We currently only offer training and coaching in English and due to the nature of the business, users must have access to the Internet, but those are our only two limitations. While we can certainly meet and exceed expectation of the general market of weight loss and health, we target a more niche population of people who are tired of being more confused when they try to learn about wellness, those who have tried most diets on the market, followed the fads, and failed to find a solution that is sustainable. Our programs were designed for people in relatively good health who do not need a lot of modifications due to current or old injuries or special scenarios. We seek to help clients look as healthy as they feel by infusing all of our programs with the techniques used by our founder during her years as a fitness competitor and competitive fitness coach. 

-They buy online. 
-They are active social media users.
-Women
-Ages 30-49
-Busy moms
-Either tried every diet and fitness craze or looking for a way to get started.

2) For your defined market, estimate market size in dollars (number of users X price per unit X usage rates). Invent and describe your methodology for making estimates on "number of users", "usage rates", and "price per unit". 
While SKFitLife can serve clients around the globe, our target market resides in the U.S. (the US is the single biggest user of health and fitness products, surpassing their next competitor by nearly 3.5 times the amount of money spent) primarily in the cities I have lived in and have been featured in local fitness media; Kansas City, Philadelphia, Charleston, Seattle, and Houston.


Saturday, March 26, 2016

SUMMARY: Rewrite


Problem description: We've all heard the warnings about how we need to get moving more, but how do we increase our current statistics of less than 5% of adults participating in 30 minutes of physical activity each day, or only one in three adults receiving the recommended amount of physical activity each week? Physical activity used to be a natural part of surviving, but we've engineered ourselves into a corner where we must now make the time to be physically active, as well as locate a convenient enough space to get that physical activity accomplished. According to the Department of Health and Human Services, only about one in five homes have parks within a half-mile, and about the same number have a fitness or recreation center within that distance. Many people, especially busy professionals and mothers, struggle to find a program that works for their logistical challenges of time and location, as well as their need for affordable workout design and coaching. 
Solution description: The SKFitLife virtual fitness training programs offer a solution to the issues of time, location, programming considerations, cost, and flexibility. The SKFitLife 12 Week Online Fitness Challenge provides monthly workouts (video links included), weekly cardio routines, a 30 day meal guide with recipes, and virtual coaching. The workouts are designed to use minimal equipment and can be performed anywhere from the living room to a hotel room to a backyard, and of course in a traditional gym. The workouts can be broken up just in case you are trying to squeeze them in between napping kiddos. Busy professionals, you can close your office door and get your workout in during lunch (or while on a conference call... no one has to know). The workouts, along with the accompanying weekly course information, are also designed to make you look as fit as you are. No more chalking up stubborn bodyfat to age or genetics. The virtual small group coaching aspect creates a community atmosphere where the SKFitLife accountability and support is the real differentiator. SKFitLife makes money by charging for the 12 Week Program upfront and then members continue on as monthly clients for a monthly fee. 

REWRITE: Based on the feedback I received, I have added the following information:

Great point about building in more incentives. I have always struggled with this because when I first launched the program, I offered cash and other prizes. I knew I needed social proof so these prizes encouraged people to also share their stories. After the first year, I kind of got away from the incentives and prizes for a couple reasons:

1.) I just couldn't sustain the prizes I had given out in the beginning. Deep down I knew this would be the case since I had so many friends and family supporting my launch. My hot market would quickly turn into warm market, then I would have to reach out to my warm market's warm market, etc. This is exactly what happened but I was ok with that because I had anticipated it. 

2.) What I didn't anticipate was how prizes would perpetuate the problems we currently face in fitness. Everyone feels like they must have yet another carrot to keep them going. My message and mission is to empower people to do it for the sake of doing it. I recorded a 4-part podcast series on disordered eating, dangerous dieting, and getting back to health if anyone would care to hear how the industry position to "fix" the problem is actually perpetuating it. This is how the fitness industry stays in business and I fully understand this is also how I stay in business. Finding that balance between encouraging continued interest/commitment and a genuine health has been an ongoing challenge for me.

3.) I have not been committed to chasing people around to make sure they are doing what they are supposed to be doing. For the $497/month price point, I absolutely do follow up and follow up some more. We have bi-weekly calls and frequently email, but for the $57/month, clients get their training and access to the small group coaching where they are encouraged to be accountable to me and to the other members of the group. 

I will think about how to incorporate more engagement, but honestly, the friendly competition and positive peer pressure has worked wonders! As the "expert", I give advice every single day, but for some reason people continue to listen to each other better than they listen to me on some things. A perfect example is wine... I have explained how drinking 2-4 glasses of wine each day will at least keep the pounds on if not cause the pounds. Some choose not to listen to me like I am just being the fun police, but as soon as one of my clients starts showing more results, and reveals her secret.. she gave up the wine, they are all on the give up the wine train. I tend to try to use these unconventional methods for encouraging compliance. 

Company: Reflection

  1. What exercises were hard or easy for you? Why?
I felt like these exercises were easy for me since this is what I do full-time, day in and day out. Of course I would greatly appreciate feedback because the nature of my solo-entrepreneurship means I am the only one who even sees this behind the scenes information most days. 
  1. Do you like your final result or you think it can be improved. What would you improve when you have time?
I am happy with my final results. 

COMPANY: Unfair Advantage


I am not looking to be the next Nutri-System, Weight Watchers, or Jenny Craig. My "unfair advantage" is that my programs have that personalized feel, yet leverage technology in a bigger brand way. 

● Digital on‐demand, do anywhere, at anytime fitness training & coaching.
● Cut through the chatter, do what works, finally achieve the results.
● Health, fitness, and nutritional coaching at affordable rates through leveraging technology.
● Information that results in transformation.

● Accessed at any time in any location as long as they have wifi or downloaded while in wifi.
● Agenda‐free health, wellness, and fitness training.
● For the price of the average Starbucks drink per day, members can access 12 weeks of training, learning, and coaching.
● No gym required. Minimal equipment necessary.
● Through leveraging technology, we offer training at 1/13th the cost of an in‐person trainer (1 hour sessions x 3 days per week x 12 weeks). 

Busy men and women looking for a training program they can do as a regular training session in a full gym to the mom splitting up her training between naps, to road warriors having to navigate hotel fitness centers. 

While those Big Brands may seem like my direct competition, I am targeting clients who have already tried these big brands, but these big brands did not help them actually achieve their goals. These Big Brands for online weight loss also don't focus on the actual fitness piece. My program offers monthly weight training and weekly HIIT routines to help them reach their goals, not just some restrictive diet plan and weigh-in schedule.

The unfair advantage I have over my competitors who Small Brands like me is my understanding and ability to leverage technology. Most fitness professionals have spent their time in the gym. I've been behind the computer for going on 20 years now.

I also have the unfair advantage of having competitive fitness and endurance/performance experience. Most weight loss programs out there are focused on calories in vs. calories out, and generally decreasing overall body fat/size. My experience in physical transformations and programming for symmetry gives me the advantage of programming for aesthetic appeal. My experience with training athletes gives my programming the unfair advantage of my clients actually improving their performance whether it is playing with their kids, 5Ks for fun, or obstacle course/adventure racing.

Media exposure/free advertising is another unfair advantage I have over the competition. I have been on the covers of fitness magazines and was recently selected to be a contestant on NBC's Spartan Ultimate Team Challenge TV Series. In the 4+ years I have been in business, I have spent less than $1,000 on advertising. While I am working to increase my marketing budget, this bootstrapping strategy has allowed me to launch and operate my business without having to take out any loans.

COMPANY: Dream Section

I am creating a Managed Growth venture. Rapid growth brings instant size and a need for additional support with coaching 12 Week and Monthly clients. We have considered creating a certification and licensing program to accompany the SKF programs. Quality control and managed expectations is an issue when bringing on additional service providers. 

The desired timeframe for the eventual sale of SKFitLife is 5 years from 2016. Aggressive growth and the expansion of product offerings would require additional investment dollars, but due to the amount of control SKFitLife would like to maintain, if anything, we will be seeking loans from established financial institutions. 

The product offering has vast geographic appeal because the products are delivered through an online and application platform. This allows for customers and clients across the United States and globally to purchase the products. Technology allows the products to be accessed anywhere in the world where there is an internet connection and access to a laptop or smartphone. Languages could be expanded in the future to include Spanish, Italian, German, Portuguese and Mandarin allowing for expansion into globally diverse markets.

Annual growth rate 10-15%

Time horizon  1-2 years

Management focus incremental and strategic for growth and scalability

Management style  strategic

Entrepreneurial orientation moderate

Technology investment moderate

Liability of smallness less significant

Source of finance self, family and friends, bank, private investors

Exit strategy  sell, merge

Management skills planning, strategizing, delegating, leveraging

Structure functional, centralized functional

Economic motives wealth creation

Reward emphasis  salary, performance incentives, equity

Wednesday, March 23, 2016

COMPANY: My Company and Product

My company is currently operating as an LLC. I plan to continue on this path for at least the next year before re-evaluating.

As a contractor, Keenan worked as a Software Systems Engineer on various shore installation projects around the world before her final assignment working with the USAF Expeditionary Center.
In 2012, Keenan used her her ability to study complex theories, then apply them in an operational environment to coaching physical endeavors such as engineering athletic performance and physique transformations. This combined with her own personal challenges of trying to live a fit life lead her to create a lifestyle coaching program, “SKFitLife” (www.SKFitlife.com). After spending nearly 5 years as a busy, chained-to-computer-cubicle-working professional who commuted 2.5+ hours each day, Keenan knew what her clients needed and then delivered. Just 4 months after launching her own business, she resigned from her defense contracting position to pursue her passion full-time.

She is renowned for her High Intensity Interval Training (HIIT) “Rock-It” programs affectionately nick-named after her military “rocket-scientist” background. Keenan prides herself on making a difference in people’s lives whether it’s a competitive athlete reaching for elite levels, or a busy parent or professional short on time and in need of a quick and effective routine. She has helped hundreds of clients and thousands of fans reach their goals through sharing these quick, ultra-effective routines.


The Stop Chasing Skinny Podcast was founded in September 2014 as a means to break down the seemingly complex and confusing health and wellness information floating around. In this weekly podcast, Keenan brings on guests who will not only enlighten you but also entertain you. 

SKFitLife primarily creates value through the business to customer relationship, but has also been requested to submit a proposal for a corporate wellness program for Goodwill Industries as well as a globally distributed biotech firm. Due to the strategic leveraging of technology, SKFitLife has the scalability capacity to meet such requests. 

SKFitLife currently serves coaching clients in the US, Canada, Costa Rica, Switzerland, Germany, England, Australia, and Ireland. There are no limits to the geographical locations SKFitLife can service. We currently only offer training and coaching in English and due to the nature of the business, users must have access to the Internet, but those are our only two limitations. While we can certainly meet and exceed expectation of the general market of weight loss and health, we target a more niche population of people who are tired of being more confused when they try to learn about wellness, those who have tried most diets on the market, followed the fads, and failed to find a solution that is sustainable. Our programs were designed for people in relatively good health who do not need a lot of modifications due to current or old injuries or special scenarios. We seek to help clients look as healthy as they feel by infusing all of our programs with the techniques used by our founder during her years as a fitness competitor and competitive fitness coach. 


SKFitLife Digital Downloads and Affiliate Products are our highest transactional purchases followed by our 12 Week E-Course which is more relational. Premium Coaching is highly relational. Podcast sponsorship is also highly relational. 

SKFitLife’s business model and strategic use of technology allows for location-independence and low operating costs, both fixed and variable. Our ability to serve clients around the world 24 hours a day, 7 days a week is to both our advantage as well as our customers’ advantage since they can access the information at any time in any location as long as they have wifi or downloaded while in wifi. 

The training and lessons have been closely vetted and repackaged for maximum impact so that clients can access and absorb this agenda-free health, wellness, and fitness information. SKFitLife has an image of excellence and reliability not only due to a successful track record, but also due to the founder’s background as a US Navy Nuclear Engineer, arguably one of the most intellectually challenging career fields, also requiring the utmost integrity. 


People also like to be associated with celebrity-type status, especially in fitness. The founder and the face of the business, Stephanie Keenan, possesses such recognition with her appearance on the NBC Spartan Race TV Series as well as her fitness modeling background, international-level physique competition rankings, and media features including magazine covers.

SKFitLife offers a heavy mix of services and digital products as well as some physical merchandise. Information products are our primary revenue drivers. Our offerings include all three customization levels. We offer standardized Digital Downloads, some customization through the small group coaching in the 12 Week E-Course and Monthly Memberships (Virtual Coaching Courses), and high level customization to the Premium Coaching clients. 

SKFitLife has a medium breadth compared to similar virtual coaching businesses with our 5 main revenue drivers; Virtual Coaching Programs, Digital Downloads, Premium Coaching, Merchandise/Affiliate Products/Supplements, and the Stop Chasing Skinny Podcast. Our overall depth is also classified as medium compared to similar virtual coaching companies. We offer 8 Digital Download options, 4 Virtual Coaching Courses (12 Week E-Course for Men and for Women and Monthly Membership for Men and for Women), a single Premium Coaching option, a variety of affiliate products, 2 tank tops, and our preferred and commission-earning supplement, Isagenix, which offers over 120 different nutritional products.

Access to all SKFitLife products is digital and can be found at www.skfitlife.com. This digital delivery method means that with the exception of the tank tops, some affiliate products, and supplements, all SKFitLife products are immediately available. 73% of all health and fitness purchases are impulse purchases and based on emotion. This strong emotional driver means instant access is critical in helping clients and customers use that in-the-moment motivation to start their fitness journey.

According to this chart found on creditcards.com, our potential clients are most likely facing these emotions when stumbling across the SKFitLife social media marketing posts. It also indicates that most are excited when they make their impulse purchase of this fun, new workout program so we deliver by delivering. Instantly. 


All SKFitLife digital products come with clear indications for use along with instructional how-to video. The 12 Week E-Courses also include weekly  email check-in videos, questions that inspire reflecting on their experience during the course, and additional information collected throughout the first year of running the 12 Week E-Course Programs. We know right when clients are most likely to give up, which fears and doubts are running around in their heads, and just about all of their other challenges they are facing. We have taken these insights, answered their questions even though they haven’t asked them out loud, addressed the fears and doubts, and feed them this information week by week, coaching them through all 12 weeks to success. We also understand everyone has their own learning style and provide the information in all 3 formats: video, spoken word, and written word.

In addition to the automated information sent out over the course of 12 weeks, clients also have access to their assigned private Facebook group coaching. These groups are broken down into 4 categories: Women’s 12 Week Program, Men’s 12 Week Program, Women’s Monthly Membership, and Men’s Monthly Membership. This breakdown and small group coaching is truly the secret ingredient that makes the SKFitLife programs so successful. Members benefit greatly from the support, accountability, positive peer pressure, and friendly competition. SKFitLife benefits from this setup by leveraging technology for both quality control and scalability. This strategy makes the SKFitLife programs very appealing and affordable to clients with their low price and high value.

Premium Coaching is offered as a twice a month, 60-minute call via phone or Skype depending on the client’s preference, as well as unlimited email support. All fitness program are highly customized based on the specific needs, goals, lifestyles, and equipment access. Founder, Stephanie Keenan’s experience as a systems engineer, as well as her extensive research into the psychology of motivation, specifically as it relates to food, exercise, lifestyle choices, and body image, turn these coaching calls into engineering fitness sessions. She has coached thousands of men and women over the past decade and is known for her ability to break down “I can’t” and build up “I did it!”

The Digital Downloads range from the 31-Day Vision Board Tool Kit ($7) to the Total Package ($197), a bundle of all SKFitLife Digital Downloads. The Digital Downloads also include the No Equipment Necessary Vacation Training ($7), 52 Weeks of HIIT ($17), Supplementation Guide ($17), Fitness Model Abs and Finisher Bonus ($27), 30 Day Meal Guide w/Recipes ($27), 12 Weeks of Weight Training & HIIT ($97). Digital Downloads are a la carte training options as well as supplemental information for building a Fit Life. The 12 Week E-Course automatically comes with the following Digital Downloads as a bundled item: 30-Day Meal Guide w/Recipes, Supplementation Guide, 12 Weeks Weight Training & HIIT, Vision Board Planning Tool Kit, and No Equipment Necessary Vacation Training.

SKFitLife offers 2 different tank tops for women. We have had requests for additional shirts and are looking into more printing options so our clients can proudly share the SKFitLife message. Affiliate products offered through SKFitLife include www.naturalmedicinenow.com’s webinar series, FitBit activity tracking watch, TRX suspension training system, and a variety of recommended products on Amazon. Clients and fans are usually very busy and love getting recommendations from a trusted source. SKFitLife recommends Isagenix nutritional supplements and earns a commission and bonuses through their network marketing infrastructure. Clients also love this simple infrastructure also provides the best possible customer service, product quality, and order fulfillment. SKFitLife benefits from not having to bear the burden of handling shipping, product, and customer service issues so we can focus on the SKFitLife products. 

The Stop Chasing Skinny Podcast is a 2 episode per week (will increase to 3 episodes per week in August) podcast lasting approximately 30 minutes long, featuring guests and covering topics not commonly researched by the SKFitLife weight loss/fat loss/general health audience. Most people have been taught to move more and eat less if they want to lose weight, but our host, Stephanie Keenan, knows there is so much more to the equation. She breaks down seemingly complex and confusing sound bites and headlines we are constantly bombarded with through the media and everywhere we look online. Listeners also appreciate her agenda-free interviewing style. No political undertones about the morality of eating meat or GMO debates. This unbiased approach is also appealing for sponsors. The Stop Chasing Skinny Podcast serves 5 main purposes:
  • Sales funnel for the 12 Week E-Course and Monthly Memberships
  • Sales funnel for SKFitLife Digital Downloads
  • Educating current and potential clients
  • Letting people get to know what SKFitLife is all about and building credibility & trust
  • Sponsorship Income


SKFitLife’s production process is completed by using a team to produce content, create/edit videos/audios, then delivered electronically. SKFitLife primarily utilizes a direct delivery method from the marketing efforts of SKFitLife. An affiliate program is also offered by SKFitLife where approved affiliate partners can earn a commission (50% for Digital Downloads and 20% for the 12 Week E-Course). The actual digital download is still delivered via SKFitLife, but the sale of the product is indirect. 



Breadth
DEPTH
Virtual Subscription Services
Digital Downloads
Exclusive & Customized Coaching
Merchandise, Affiliate Products & Supplements
Advertising (Podcast, Email List & Website)
The 12 Week SKFitLife E-Course - Women ($227)
Total Package Download ($197)
Premium Coaching & One-On-One Exclusive Coaching ($997/mo. for 6 mos. or $4997 up front cost for 6 mos.)
Tank Tops & Shirts ($25)
Stop Chasing Skinny Podcast
SKFitLife Monthly Membership - Women ($54/mo.)
SKFitLife 12 Week Training Download ($97)

Business & Health Affiliates
Email Marketing
The 12 Week SKFitLife E-Course - Men ($227)
Fitness Model Abs + Finisher Bonus ($27)

Supplements 
Website
52 Weeks of HIIT ($27)




30 Day Meal Guide + Recipes ($27)




Supplementation Guide ($17)





NO Equipment Vacation Training ($7)




Vision Board Planning Tool Kit ($7)



While the 12 Week SKFitLife E-Course is currently the largest revenue driver, the Stop Chasing Skinny Podcast sponsorships have the potential to grow exponentially larger than the 12 Week E-Course. 

Drawbacks include the highly competitive nature of the online fitness industry, the low bar to entry, and that SKFitLife is tied to and associated with the founder, Stephanie Keenan. To mitigate these risks, we go above and beyond to differentiate ourselves from the other online fitness businesses. We have been working towards rebranding SKFitLife to stand for SunKissedFitLife versus Stephanie Keenan FitLife.