Podcast Summary
Businesses need constant care and attention to grow, not machines that run on their own.: Successful businesses require active involvement and reliable systems to thrive, even when the owner is away.
Running a successful business, whether it's a gym or an investment in real estate, requires active involvement and proper systems in place. Businesses are more like gardens that need constant care and attention to grow, rather than machines that can run on their own. While it may be tempting to believe in the dream of passive income, there is no such thing. The most successful businesses, like the number one McDonald's in the world, thrive because of the dedication and effort of their leaders. So, even if you want to be away from your business for extended periods, it's crucial to establish reliable systems and trustworthy team members to keep it running smoothly in your absence.
Comparing business to a garden: Continued attention to weeding, marketing, and customer care keeps a business growing, but complete absence for an extended period isn't ideal. Stay engaged by focusing on the cause and customers, and providing creative solutions and elevated service.
Running a business can be compared to maintaining a garden rather than operating a machine. While initial efforts like planting seeds and watering are required, a business can grow independently with continued attention to weeding, marketing, and customer care. However, complete absence for an extended period, like 90 days, is a stretch and may not be ideal for most businesses. Entrepreneurs often seek freedom, but many find themselves bored after a short break. To stay engaged, focus on the cause and the customers, and provide creative solutions and elevated service. Ultimately, no business can run autonomously for an entire year.
Intuition in Client Management: Trust your gut when managing clients and consider parting ways if it feels wrong. Shift from 'done with you' to 'done for you' approach for scaling and managing more clients.
Running a micro gym that specializes in service is more challenging than a facility usage type gym when it comes to selling services. The speaker shared that when they think about a client negatively and feel a turning sensation in their stomach, it may be time to consider parting ways. The speaker also mentioned a shift from a "done with you" approach to a "done for you" approach in their business. This change was due to the success of selling out their services with a sales team, leading to a need to scale and manage more clients. The speaker encouraged listeners to check out their YouTube channel for a more visual and interactive experience of the podcast. Overall, the discussion highlighted the importance of being attuned to one's intuition when it comes to managing clients and scaling a business.
Scaling a business in the fitness industry: Challenges and solutions: Assess team performance by monitoring customer feedback on social media and personal testimonials. High-performing teams have zero complaints and customers going out of their way to praise employees.
Scaling a business, especially in the fitness industry, comes with its own unique challenges. The speaker shares his experience of trying to expand his sales team, which involved a lot of travel, logistics, and upfront costs for ads and accommodations. The low margins and resentful customers made him reconsider his approach. To ensure the success and satisfaction of both his team and customers, he decided to pivot and find new ways to serve them better. As a manager, it's essential to have the right tools to assess the performance of coaches and customer service representatives. The speaker suggests looking for regular positive feedback from customers on social media and personal testimonials. A lack of such feedback could indicate an issue that needs addressing. Additionally, zero complaints and customers going out of their way to praise employees are signs of a high-performing team.
Investing in training, service, and education for business success: Continuously invest in exceptional training, service, and education for your business and yourself to build strong customer relationships, stay competitive, and secure your future.
Investing in exceptional training and service, as well as continuous education, is crucial for business success. Building strong relationships with customers is essential, as they can help identify any subpar service and communicate it to the business. The business owner should be the biggest investor in their own education, as it is a long-term investment that can be easily regained if everything is taken away. Continuous learning not only makes the business more knowledgeable and competitive, but it also provides a sense of security and future-proofing. When determining what is most appropriate for continuing education, it is important to budget for it and carefully vet the sources to ensure they are valuable and applicable to the business. Ultimately, the business owner is the biggest asset, and investing in their personal and professional growth is essential for the success of the business.
Practicing Tithing for Spiritual and Financial Blessings: Tithing 10% of income and making direct deposits to faith community can deepen faith and bring spiritual and financial blessings, according to speaker's experience.
The speaker strongly recommends practicing tithing as a way to give back to their faith community and experience blessings. According to their experience, they tithe 10% of their income and make a direct deposit to their church via ACH. Beyond the tithe, they make offerings as well. The speaker references Malachi in the Bible, which encourages testing God with giving and promising abundant blessings in return. The speaker's personal experience aligns with this belief and they highly recommend others to consider tithing as a way to deepen their faith and receive blessings.
