In the Gym Secrets podcast, host Alex Hormozi discusses strategies for gym owners navigating the challenges posed by the COVID-19 pandemic. He emphasizes the importance of adapting to remote gym services, detailing his company's efforts in testing ads and setting up remote client acquisition systems. Alex advises gym owners to pivot to one-on-one remote training to maintain revenue, offers practical tips for negotiating rent relief with landlords, and encourages taking advantage of lower advertising costs to attract new clients. He acknowledges the tough road ahead but urges listeners to view the crisis as an opportunity to innovate and potentially shift to a more profitable remote training business model. Alex's tone is one of tough love, stressing the need for resilience and an unyielding entrepreneurial spirit during these trying times.
Welcome to the Gym Secrets podcast, where we talk about how to get more customers, how to make more per customer, and how to keep them longer, and the many failures and lessons that we have learned along the way. I hope you enjoy and subscribe.
The quote introduces the podcast's main themes and objectives, emphasizing the importance of customer acquisition, value maximization, and retention, along with learning from past mistakes.
So, first off, on the gym launch side, we are actively testing the ads for remote gyms.
This quote indicates that the speaker's organization is adapting to current market conditions by testing advertisements specifically designed for remote gym services.
There's three main points of success that we're looking for, which is, one, that the lead flow is what we expected it to be, two, that the Allen system that we have set up for booking remote calls works as intended and as desired, and three, that the offer that we have structured on the phone converts at the percentage that we said it was going to.
This quote lays out the specific metrics the speaker's company is using to measure the success of their new advertising strategy for remote gyms.
And I think that a lot of what has been created for the community is good. I think it's all great stuff, but we need to solve the fucking problem.
The quote expresses dissatisfaction with past efforts that may have been well-intentioned but ultimately ineffective, underscoring the urgency of finding real solutions.
So I want to make a promise to you, which is that what you're going to go through over the next few months is going to be some of the hardest that you're going to go through.
This quote serves as a bracing reality check, preparing listeners for tough times and encouraging them to muster their determination.
It would be incredibly reasonable for a gym to go under during this transition time, right? But what I'm asking you to do is not be reasonable, but be unreasonable, all right, and want more.
The quote challenges listeners to rise above the reasonable expectation of failure and to pursue success with an 'unreasonable' drive.
Everything that affects gyms affects gym lunch, all right? So I'm going through this shoulder to shoulder with you, trying to figure this out.
The quote emphasizes the shared experience between the speaker and the listeners, reinforcing a sense of community and common purpose.
Panic is simply an embodiment of intense pain. Whenever there's pain, it means there's something that can be solved. And that means right now, and here's the silver lining, there are going to be more people on their phones, holed up at home, health conscious, worried about their health, eating cookies, all these feeling fat, who are, like I said, on their phones, and the impressions on Facebook are already 50% off.
This quote reframes the current state of panic as a moment ripe with potential for those willing to see and seize the opportunities, particularly in digital marketing.
"And the gyms who make it through will be bigger, stronger and more profitable than ever." "Buying behavior is going to shift because as every single gym now has had, circumstances break their belief about whether remote training was possible in a brick and mortar facility in a local market."
These quotes underline the forced evolution of the fitness industry due to the pandemic. Gyms that adapt and survive are anticipated to become more successful post-crisis. There is a shift in perception towards the feasibility of remote training.
"And so with that choice now, consumers are going to be used to giving their card over the phone and having remote services." "I think there's going to be a lot of gyms who come out on the other side of this with a booming remote business because, like I said, demand for this is going to be huge."
These quotes highlight the shift in consumer behavior towards remote services, including fitness. The pandemic has expedited the trend towards remote training, creating opportunities for gyms to grow a remote business.
"And so the play is going to be simple. We're going to, one, stop the bleeding. You need to transition all of your existing clients into remote." "You have to over deliver on value to your clients because they're no longer getting what they signed up for."
These quotes suggest a clear strategy for gyms to mitigate the impact of the pandemic by transitioning clients to remote training and emphasizing the increased value of personalized one-on-one services.
"You are probably going to work more during this period of time than you probably ever have." "You need to make business decisions. You need to look at who are your most valuable assets."
These quotes acknowledge the increased workload for gym owners and the difficult decisions they may face, such as workforce adjustments. Emphasis is placed on identifying and retaining the most valuable and adaptable staff members.
"Now, my hope is that everything blows over and none of this matters, but I don't think that's going to happen on a short enough time frame." "Just to let you know that we've been starting to post on LinkedIn and want to connect with you."
The speaker expresses hope for a quick resolution but urges preparation for a longer-term scenario. They also encourage connecting with the fitness community online, indicating the importance of networking and community support during challenging times.
So number one, you stop the bleeding.
This quote highlights the first critical step in crisis management for a business, which is to halt any ongoing financial damage.
Number two, you have to focus on how you can cut overhead.
This quote addresses the second critical step in managing a business crisis, which involves reducing ongoing business expenses.
Now you have a facility. There are a couple of things that you can do. The primary one is that you can email your landlord and ask for rent relief.
This quote introduces a practical strategy for businesses to reduce their overhead by negotiating rent relief with their landlords.
One is they can just give it to you and they can subtract it from the lease. Number two is they can literally just push the lease forward.
This quote explains different approaches to structuring a rent relief deal with a landlord.
Transition people to remote training as fast as humanly possible.
This quote emphasizes the urgency of adapting to remote operations to maintain business continuity.
You can also look at SBA relief loans.
This quote introduces the possibility of applying for government-backed loans to alleviate financial strain on businesses.
The third piece, which is the exciting piece, is you need to fill the bucket back up.
This quote signifies the phase of recovery where businesses must actively work to restore their revenue streams.
"So with every panic, there's always opportunity." "You're going to lose some cancellations, okay? Paris off. Emotionally, it's going to happen." "But you're going to have a way to get it back."
These quotes emphasize the need to look for silver linings and opportunities amidst challenges and to anticipate and accept emotional responses without losing focus on recovery.
"And that's everything that we're focused on at gym launch is, like I said, we need a complete solution." "Since the first announcement last week, for seven days, our entire development team has been working around the clock."
These quotes illustrate Gym Launch's dedication to their clients and their commitment to developing comprehensive solutions to help businesses adapt to new challenges.
"But this is going to fundamentally shift the way consumers buy." "Giving cards over the phone and getting remote training for a few hundred dollars a month is going to be far more commonplace."
The speaker is indicating that consumer behavior is changing, and businesses should be prepared to adapt to more remote and online operations.
"The next few months are going to be telling, and they're going to tell the story of who you are and who you choose to be." "The reason the Navy Seals training is so hard is not because one day, if it's hard, it's because they have to do it every single day, and it's voluntary."
These quotes highlight the importance of the mindset in shaping one's identity, especially in the face of voluntary and continuous challenges, like those faced in business or rigorous training programs.
"It's going to be a lot of work. It always is. But there's going to be a lot of opportunity for the people who keep their eyes open." "So keep your eyes open. Do as, like, work as hard as you can to keep the people you got."
These quotes stress the importance of hard work and attentiveness to opportunities during challenging times, suggesting that perseverance can lead to a more profitable business model.
"We're going to do everything in our power, like, truly everything in our power." "We're probably about 80% of the way there. We're just putting the finishing touches on, and we should have it live later this week."
These quotes convey Gym Launch's strong commitment to their clients and their confidence in their ability to deliver the promised solutions, which are nearing completion.