Competitors Stealing Customers & Tactical Abundance Ep 190

Summary Notes


In the Gym Secrets podcast, the host discusses the concept of 'tactical abundance,' advocating for a mindset shift away from viewing competitors as threats to clients and instead embracing collaboration and mutual growth. He emphasizes that businesses don't lose clients to competitors; rather, they fail to retain them due to their own shortcomings. By assisting direct competitors, even when it seems counterintuitive, the host has fostered reciprocal relationships that have not only aided his mental health but also reinforced his company's position in the market. He encourages listeners to focus on the bigger picture, recognizing the vastness of the market and the shared goal of combating client apathy. The host's experience shows that helping others, including former employees and competitors, can lead to personal growth, a healthier industry ecosystem, and ultimately, a more successful business.

Summary Notes

Concept of Competition and Client Relationships

  • The speaker challenges the common notion that competitors "steal" clients, suggesting instead that businesses lose clients due to their own shortcomings.
  • The importance of maintaining strong relationships with clients is emphasized, as it is equated to personal relationships, like marriage.
  • The speaker believes that businesses have power over their client relationships and that worrying about competition is unnecessary.
  • The idea is presented that service-based businesses are about scaling personal relationships and instilling the business owner's values in their staff.
  • The speaker finds it liberating to help competitors, believing it can lead to mutual respect and improvement within the industry.

"Your competitors don't steal clients from you, right? No one steals clients. You lose clients."

This quote encapsulates the speaker's belief that clients leaving for a competitor is a result of the original business's failure to maintain the relationship, not the competitor's actions.

"When you have a service based business, you're having a relationship with your customers at scale and trying to replicate yourself and your beliefs in how you act and how you want to treat your customers with staff who are less incentivized than you are."

This quote highlights the challenge of scaling personal values and customer service within a business, especially when staff may not share the same level of commitment as the owner.

Tactical Abundance and Collaboration

  • The concept of "tactical abundance" involves helping competitors, which can lead to a healthier mindset and industry improvement.
  • The speaker has helped competitors in the past and only refrains from doing so if the competitor has been publicly disrespectful.
  • Helping competitors can result in a positive reputation and a shift in how others view competitive relationships.
  • The speaker suggests that by helping others with similar missions, the overall goal of the industry (e.g., helping people lose weight) is better served.
  • Creating reciprocal relationships with competitors can elevate the industry standard and benefit all involved.

"And I think that it has been one of the things that has kept me sane throughout this process."

This quote reflects the speaker's personal experience that assisting competitors has been beneficial for their mental health and business perspective.

"The more times I have done this, one, the amount of awe and shock that you get from the person who you are helping of, like, why are you helping me? I don't get it. It fundamentally shifts how they view the world when you help them, when you don't have a, quote, vested interest in them succeeding."

The speaker notes that helping competitors often leads to surprise and gratitude, which can change the competitive dynamic into one of mutual support.

"So if you helped somebody else who probably has a pretty similar mission to you, do you think that net positive it's going to be a good or a bad thing? You're probably just going to help more people and you'll build a relationship with someone else who also actually struggles with, believe it or not, the same things you do, right?"

This quote suggests that by aiding competitors, a business can contribute to the greater good of the industry and foster relationships that are based on shared challenges and goals.

Community and Abundance Mindset

  • The speaker emphasizes the value of a community, particularly in the context of business growth and innovation.
  • A scarcity mindset is contrasted with an abundance mindset, with the latter being associated with greater success and personal satisfaction.
  • The speaker is currently focusing on helping others in the gym space, emphasizing the abundance of opportunities available.
  • The concept of a "big pie" is used to illustrate the vast market potential and the limited impact of competition within a large market.
  • The speaker believes in sharing success and helping others, as the market is large enough for multiple players.

"The communal whole always grows better than an individual, period, right?"

This quote underscores the idea that collective efforts and community engagement lead to greater growth than isolated individual efforts.

"I'm actually prioritizing helping a lot of other people who are in the gym space, who serve gyms, just because we've made more than multiple lifetimes worth of wealth."

Here, the speaker expresses their current focus on assisting others in the same industry, highlighting the shift from personal gain to contributing to the success of others.

"The pie is huge. Even in this group. In this free group, people say, what if there's other gyms using gym launch in my neighborhood? Well, one, if you're not one of them, then you're at a fundamental disadvantage, number one."

The speaker uses the metaphor of a "huge pie" to convey that the market is expansive enough to accommodate multiple businesses without significant detriment to one's own success.

Customer Retention and Market Position

  • The speaker argues that businesses don't lose customers to competition, but rather due to their own shortcomings.
  • Gym Launch's success is attributed to its unique skills and approach, rather than simply its offerings.
  • The speaker encourages a mindset shift to recognize the broader scope of the market and the trivial impact of direct competition.

"You only lose customers. No one steals them from you. No business has had any impact on the growth of Gym Launch whatsoever."

This quote suggests that customer loss is self-inflicted and that external businesses do not significantly affect one's growth.

"There's a much bigger game afoot, right? There's a much bigger game."

The speaker implies that understanding the larger dynamics of the market is crucial to success, rather than focusing narrowly on immediate competition.

Personal Philosophy and Business Strategy

  • The speaker acknowledges their polarizing persona and intentional marketing strategy to attract a specific type of clientele.
  • Personal involvement in business operations, including frontline tasks, is advocated to gain a comprehensive understanding of the business.
  • The speaker cites Zappos' executive training model to exemplify the importance of experiencing every level of the business for informed decision-making.
  • The speaker's personal philosophy revolves around hard work, repetition, and the pursuit of growth.

"I am somewhat polarizing and partially by design from a marketing standpoint, because I want to attract people who are willing to grind, who are willing to hustle, who are willing to roll their sleeves up."

The speaker acknowledges their deliberate choice to be polarizing in order to attract clients who are aligned with their ethos of hard work and determination.

"Any executive that wants to start at Zappos, which is a billion dollar plus shoe company that Amazon owns, they have to start by working frontline customer service for two weeks."

This quote is used to illustrate the speaker's belief in the value of experiencing every aspect of a business, from the ground up, to make better-informed strategic decisions.

Business Philosophy and Growth Mindset

  • Emphasizes the importance of aligning business philosophy with personal values.
  • Discusses the trade-off between making more money and maintaining a balanced lifestyle.
  • Highlights the need to understand personal goals and the level of ambition in business growth.
  • Suggests that businesses can still use systems and strategies even if they aim for moderate growth.
  • Encourages business owners aiming for significant growth to seek consultation.

"Right? And there are people who have come into our world and been like, I'm not about that. Right? I want to have balance. I want to have this be more of a lifestyle thing. That's amazing. That is just not how I do business."

This quote reflects the speaker's acknowledgment of different approaches to business, with some people prioritizing balance over aggressive growth.

"Instead of making an extra 200,000 a year, maybe you make an extra 80 and you're cool with that. And that's a trade off that you understand."

Here, the speaker discusses the idea of making conscious decisions about business growth and personal trade-offs, suggesting that it's okay to choose a path that aligns with one's values.

"If you are a business owner that has a big old business and wants to get to a much bigger business, going to 5100 million dollars plus, we would love to talk to you."

The quote indicates an invitation to business owners with ambitious growth targets to seek advice and support to achieve their goals.

Perception of 'Guru' in Business

  • Critiques the negative connotation associated with the term 'guru' in the business context.
  • Reflects on personal growth from a competitive to a cooperative mindset.
  • Recognizes the shift from trying to dominate the market to aiming to help others succeed.
  • Discusses the relativity of the term 'guru' and the speaker's own journey with it.

"What's so funny is that there's so many people. Like, I'm anti guru. I'm like, if you sell information on how to improve a business, you would be categorized as a guru."

This quote highlights the irony in rejecting the label 'guru' while engaging in activities that typically define one.

"The thing is, at the time, I was really like, I just had this, ah, let me go beat the world kind of mentality. And I think it's really shifting the mentality from beating everyone to saving everyone."

The speaker reflects on their evolution from a competitive to a more altruistic approach in business, which has led to a more positive headspace.

Helping Others and Indirect Impact

  • Discusses the importance of helping those who can in turn help others, creating an indirect positive impact.
  • Emphasizes the value of authenticity in attracting the right clients or audience.
  • Recognizes the diversity in client preferences and the need to resonate with them on a psychographic level.
  • Suggests that by helping competitors, one does not necessarily detract from their own business.

"And the reality is that I can't. And so if I can help other people that can help people, then I'm still helping those people indirectly."

This quote underscores the speaker's recognition that they cannot help everyone directly, but can still contribute positively by supporting others who can.

"You'll attract the people who are right for you from a psychographic standpoint, not just demographics."

The speaker points out that successful client relationships are often based on shared values and beliefs, rather than just demographic factors.

Competition and Mindset Shift

  • Advocates for a collective mindset among businesses to combat common challenges.
  • Identifies the real competition as apathy or inaction, rather than other businesses.
  • Shares personal experience of a mindset shift leading to improved life quality without financial loss.
  • Encourages support and understanding when facing competitive situations within one's business.

"The biggest winner in the marketplace, in any market, b to b, b to c, whatever, is apathy. It's doing nothing."

This quote identifies apathy as the main competitor for all businesses, suggesting that the real battle is against inaction.

"If you can shift your perspective from that, I guarantee you that you will have so much better headspace and life and just energy that it's been a really profound change for me."

The speaker shares their personal experience of how a change in perspective has led to a more fulfilling life, maintaining the same income level while feeling better overall.

Positive Mindset in Business Relationships

  • Embracing a helpful attitude towards competitors can transform personal and business dynamics.
  • Offering assistance to departing trainers or competitors can prevent negative backlash and promote mutual growth.
  • Aligning business strategies with people's self-interests leads to better outcomes.
  • Cooperation can accelerate improvement and growth for both parties involved.
  • Engaging in negative discourse is discouraged as it can lead to a perception of pettiness.

"I want to help you. I guarantee you that the entire dynamic of your world will change the thoughts that consume you..." This quote emphasizes the speaker's belief in the power of a positive and helpful mindset to fundamentally change one's personal and professional life.

"Versus you being like, dude, you're opening, dude, let me help you with all the things that I struggled with early on so you don't have to go through that." The speaker advocates for a supportive approach to competitors, suggesting that sharing experiences and struggles can create a positive relationship and prevent hostility.

"And you, being a smart business owner, want to align yourselves with people's selfish incentives because believe it or not, people will always act on their own self interest." The speaker suggests that understanding and aligning with the inherent self-interest of individuals can be a smart business strategy.

"There's so many people who are overweight and need help. If both of us are working to try and grow and improve, then we're both going to improve at a faster rate..." This quote highlights the potential for collaborative growth in the fitness industry by working together to address a common issue like obesity.

Strategies for Handling Competition

  • Avoid engaging in negative conversations or retaliations, as it can reflect poorly on one's character.
  • Choosing not to respond to negativity is an option, but rising above and offering help is considered the most rewarding.
  • Focusing on the larger mission of serving the community can help reframe competition as an opportunity for collective action.

"The best road is to just not engage. That has been my experience this whole time, is just don't engage, because all people are going to see is you looking petty." The speaker advises against engaging in negative back-and-forth with competitors, as it can lead to a petty image.

"Option three is you rise truly above and you help the person, even though most people would think that they wronged you." The speaker promotes the idea of helping those who may seem like adversaries, viewing it as a path to personal growth and improved character.

Abundance Mindset and Business Growth

  • Helping competitors can be a healing experience and contribute to one's personal growth.
  • The demand for services like weight loss is vast, and businesses should focus on improving their offerings rather than on competition.
  • Sharing knowledge and strategies with others in the industry can lead to collective success and is a reflection of an abundance mindset.

"Your ability to supply help to the world of helping people lose weight, given your capacity in terms of your employees and your square footage and your everything is so limited compared to the demand..." This quote acknowledges the immense demand for weight loss services and suggests that businesses should not view each other as threats but rather work together to meet the collective need.

"I'm going to help you grow your business. I'm going to show you how we market. I'm going to show you how we retain customers." The speaker expresses a willingness to share business strategies with others, demonstrating an abundance mindset and a focus on collective growth.

"I genuinely would. And it's honestly been some of the most healing stuff that I've ever gone through." The speaker reflects on the personal healing that comes from helping competitors, reinforcing the theme of positive personal growth through generosity and collaboration.

Personal Healing Through Generosity

  • Harbor no ill will towards others, as negative emotions can be self-harming.
  • Helping those who may have been seen as adversaries can be a deeply healing experience.
  • The speaker encourages others to let go of anger and resentment for personal well-being.

"But the thing is, it only hurts you. And I think that's been one of the biggest revelations is like you just being angry only hurts you and doesn't hurt anybody else." The speaker points out that holding onto anger is self-destructive and encourages letting go of such emotions for personal healing.

"I'd strongly recommend it." The speaker endorses the practice of helping others, including competitors, as a means of personal growth and healing.

What others are sharing

Go To Library

Want to Deciphr in private?
- It's completely free

Deciphr Now
Footer background
Crossed lines icon
Crossed lines icon
Crossed lines icon
Crossed lines icon
Crossed lines icon
Crossed lines icon
Crossed lines icon

© 2024 Deciphr

Terms and ConditionsPrivacy Policy