The Four Mountains to Scale for a Successful Fitness Business.
The latest guests on my podcast know exactly what it takes to build a successful gym. The name of their business should let you know just how serious they are: Million Dollar Gym.
Vince Gabriele and Paul Reddick are business partners, but they couldn’t be more different from one another. Their two-pronged attack on most problems has led to some interesting insights into how a gym business should be run and what to expect during the life cycle of the business.
They shared the four mountains that a successful fitness business owner should expect to climb. Let’s see if they ring true for you.
Survival
The name of the game is survival, am I right?
So the first, and most important, mountain to climb is survival. You can’t get to the other ones without conquering this one.
This is basically your startup mode, the mentality that every entrepreneur faces when they kick things off.
I don’t care if you’re putting together a super fancy gym or simply your own sessions on the beach. The mentality remains the same. You’re just trying to survive and because you’re at the beginning with limited resources and know-how, you’re doing everything all by yourself.
This is you going full-tilt, non-stop, make it or break it probably around the clock.
During this period, you’re doing everything so you’ll feel overwhelmed. This is normal and it quickly becomes a test of how badly do you want it.
The good news is that it doesn’t last forever. The bad news is that it lasts up to the first three years of the business. Push through this important part and good things await.
Stability
You get a breath a little easier at this point but only if you do it right. Mismanage this part and you’re right back to survival.
The key in this part is to delegate responsibilities to the right people. That begins with hiring and continues through to leadership. Here is where you design the right systems for the longevity of your business.
There’s long-term strategizing, marketing, and a whole host of other things that require your attention. You can’t be expected to change the toilet paper five years in. I know studio owners, who still do this to save on expenses- when in fact that’s what’s bankrupting them,
But that doesn’t mean that you should just delegate the work in your business to anybody.
Hire the right people and learn how to lead.
That team growth should be your focus on this particular mountain.
This is the heart and soul of your entrepreneurial life to live it!
Success
Your baby is off and running!
This is the biggest mountain because it’s the one that most people can’t achieve.
You’ve got the systems in place that keep you running efficiently and smoothly.
You’ve got the right managers in place that handle every catastrophe that comes your way.
Your marketing is tight and conveys exactly the messaging that you want.
With such a tremendous emotional payoff, what’s keeping fit pros from getting to the success mountain?
Well for one thing, most fit pros don’t understand what it takes to get to this point. It’s all about systems. That’s so key, it’s worth mentioning again. It’s all about systems.
Significance
Building a business is great in itself, but building something that can sustain itself without your involvement is an achievement that few people experience.
When this happens, your business takes on a greater significance. You are free to explore new worlds or start new businesses.
You’re able to create more things that carry the same energy, message, and ethos of what you’ve created. Being here is proof that what you’ve done is truly special.
These aren’t small mountains. They require your dedicated attention and endless energy. Many people don’t experience all of them, but know that you know they’re there, they are easier to climb.
My thanks for Vince and Paul for stopping by and sharing their insights. Check out the whole podcast for more info and subscribe so that you don’t miss any future guests!