”How to serve caviar when your customers are satisfied with cheese & crackers. and why you aren't making as much money as you want... Ep 66

Abstract

Abstract

In a motivational talk, the host discusses the importance of redefining one's approach to business and personal goals by asking, "What game do you want to play?" Drawing on Tony Robbins' perspective that money is a game to the wealthy, the host emphasizes the necessity of having a purpose beyond mere survival to achieve greater success. He shares his personal revelation that genuine love for customers—what he terms "weapons grade compassion"—is the key to unlocking potential in any business, particularly in the fitness industry. By focusing on serving customers exceptionally and taking full responsibility for their success, businesses can disrupt industries and grow exponentially, as exemplified by his own company, Gym Launch. The host urges entrepreneurs to seek a game beyond the immediate, to find a compelling reason that drives them to serve their customers like no one else, which ultimately leads to fulfillment and financial success.

Summary Notes

Personal Motivation and Understanding the "Game"

  • Individuals often need a compelling reason beyond personal gain to achieve financial success.
  • Having responsibilities, such as a family, can drive people to earn more.
  • Passion for one's customers can be a significant motivator and can lead to greater success.
  • The speaker emphasizes the importance of loving your customers to sustain and grow a business.

"And the reason I wanted to highlight that is that, for me, one of the reasons that I didn't make as much money as I wanted to make for such a long time was because I only had the game that I was playing, which was the game of the fitness business, was the gym business, et cetera. And I had no actual reason to make more money."

This quote emphasizes the speaker's personal experience with lacking a strong motivation to earn more money, which was tied to just running a fitness business without a deeper purpose or passion.

"And the reason that Robbins says you have to fall passionately in love, like, almost romantically in love with your customer, is that if you aren't, then there's no more reason for you to make any more money, because you're already satisfied, which is why so many people are able to persist month after month after month and barely make it."

The speaker references Tony Robbins' idea that a deep, passionate love for customers is crucial for business growth, as it provides a reason to strive for more than just getting by financially.

The Impact of Family on Financial Success

  • The speaker notes an observation that married individuals with children tend to earn more money out of necessity.
  • This necessity can initially drive financial success but may plateau without further motivation.

"The people, the guys who are. And this is just, like, fact, the people who are married, who have lots of kids, make more money because they have to."

This quote suggests that having a family creates a financial imperative that can push individuals to earn more money.

The Role of Passion in Business Success

  • The speaker's own success with Gym Launch is attributed to a genuine love for gym owners.
  • Helping gym owners succeed indirectly reignites the speaker's passion for helping weight loss customers.
  • The fitness industry often attracts those who have personally transformed through fitness and want to share their skills.

"The reason that gym launches exploded and is phenomenally more successful than my gyms were, right? I mean, just by revenue like it is, is because I love gym owners."

The speaker attributes the success of Gym Launch to a sincere passion for helping gym owners, which translated into a more successful business model than the speaker's previous gym business.

"And what's really weird about this is that because of my love of gym owners, I have actually fallen back in love with weight loss customers, because I know that if I can help gym owners better serve their weight loss customers, then I can help gym owners."

This quote explains how the speaker's passion for helping gym owners led to a renewed interest in helping their clients, the weight loss customers, thereby creating a positive feedback loop that benefits all parties involved.

The Disconnect between Business Owners and Their Customers

  • Many fitness professionals enter the industry because of a personal transformation and see it as a means to make a living.
  • The speaker suggests that a significant number of fitness business owners do not truly love their customers, which can limit their business's potential.

"But a lot of them don't actually love their customers, right? It's just like, it's their business, and 95% of people, that's their life. It's just the way that they pay their bills, right, but they don't actually love their customers."

The speaker points out that many fitness business owners may view their work simply as a way to pay bills, without a genuine love for their customers, which can hinder the growth and success of their business.## Weapons Grade Compassion

  • Emphasizing the importance of taking full responsibility for a client's success.
  • The concept involves a deep focus on customer needs rather than on competitors.
  • Customer loyalty is highlighted as a key to business growth.
  • The speaker stresses the transformative potential of genuinely caring for customers.

"But if you can have weapons grade compassion and you literally think, like, I have to own every part of this client's life in terms of, like, I have to take full responsibility for their success, you think about things differently."

This quote emphasizes the speaker's belief in the profound impact of taking complete responsibility for a client's success, which changes the way a business operates.

Customer-Centric Business Model

  • The speaker suggests that focusing on competitors is futile as they do not contribute to business revenue.
  • Prioritizing customer satisfaction can lead to a greater purpose and success.
  • The speaker shares their personal experience of financial success as a result of serving customers well.

"And the reason that looking at your competitors will never work is because they're not going to ever send you money. Your customers will, right?"

The speaker highlights that competitors will not bring in revenue, whereas customers will, reinforcing the importance of focusing on customers over competitors.

Financial Success and Service

  • The speaker expresses a lack of personal need for the money their business makes.
  • The focus has shifted from making money to serving more people and having a positive impact.
  • The speaker discusses the importance of creating a game beyond just satisfying initial needs to avoid stagnation.

"The amount of money, the money that we make is insane. It really is. And I'm saying this not in any way to brag, but I'm saying it because the only way that it would be possible is if the game that I started playing was not the game of how can I make my business make more money? But it's how many people can we serve?"

This quote reveals the speaker's perspective that their financial success is a byproduct of a service-oriented business approach, which focuses on helping as many people as possible rather than solely on profit.

Disrupting Industries with Exceptional Service

  • Seth Godin's quote about serving caviar instead of cheese and crackers is used to illustrate the potential for disrupting industries.
  • The speaker believes that every industry can be disrupted by significantly improving customer experience.
  • Serving the customer in unprecedented ways is seen as the key to industry disruption.

"Seth Godin said, serve caviar when everyone's satisfied with cheese and crackers, right? That's when every industry is able to be disrupted."

The speaker uses Seth Godin's metaphor to suggest that offering exceptional value can disrupt and transform any industry.

Compassion and Understanding Your Customer

  • The speaker talks about the necessity of understanding and empathizing with customers to improve their experience.
  • Blaming customers is counterproductive; the focus should be on making their lives easier.
  • The speaker shares their affinity for gym owners, reflecting on their own identity and experience in the industry.

"You don't get better by blaming anyone, right? And so having that level of compassion."

This quote underscores the importance of compassion towards customers and the ineffectiveness of blaming them for challenges in the business.

Word of Mouth and Over-Delivering

  • The speaker emphasizes the value of word of mouth, which is a significant part of their business.
  • The goal is to over-deliver to customers to make the business remarkable.
  • The speaker reflects on the difference between their past and current business in terms of customer acquisition and retention.

"But how can I get every single gym that works with us to over deliver to their customers to such a degree that they become remarkable, that people leave and they feel compelled to remark about it?"

The speaker is focused on ensuring that their service is so exceptional that customers naturally talk about it, driving word-of-mouth referrals.

The Importance of Caring for Your Customers

  • The speaker encourages others to deeply care for their customers.
  • The speaker promises that by unlocking the ability to care for customers, businesses will succeed without worrying about competitors.

"If you can unlock how much you can care about your customer, you will win."

This quote is a direct assurance that prioritizing customer care is the key to winning in business, according to the speaker's experience and philosophy.## Outserve the Competition

  • Success is determined by the ability to outserve competitors.
  • The focus should be on superior service to win in business.

The only way that they will win is if they outserve us, period. It's always how it is.

  • This quote emphasizes the importance of providing better service than competitors as a definitive strategy for winning in business.

Importance of Listener Engagement

  • Encouragement for listeners to rate and review the podcast.
  • Rating and reviewing are important for podcast growth and supporting the entrepreneurial community.

But it would mean the absolute world to me if you guys would go ahead and do that.

  • Speaker B expresses how valuable listener ratings and reviews are to them personally.

The only way that podcast grows through word of mouth, and this is you joining hands with me and helping as many entrepreneurs as we possibly can, because no one is coming to save us.

  • Speaker B explains that listener engagement, specifically through ratings and reviews, is crucial for the podcast's growth and the broader goal of aiding entrepreneurs.

Soulcycle's Business Model

  • Soulcycle's success without a recurring revenue model.
  • Emphasis on customer experience and loving the customer.
  • Understanding customer needs by relating to them personally.

Soulcycle has no EFT, zero the average soul cycle and they're privately owned. The average soul cycle does $2.4 million a year in revenue. 2.4 million. And they have zero recurring.

  • This quote provides an overview of Soulcycle's business performance and its unique approach of not relying on electronic funds transfer (EFT) for recurring revenue.

They started with their customer, and they were like, how can we make the best experience humanly possible for someone to come into my gym, right?

  • Speaker A highlights Soulcycle's customer-centric approach, focusing on creating the best possible experience for their clients.

Mental Toughness in Business

  • The necessity of mental strength in business.
  • Continuously seeking ways to improve customer satisfaction and love for customers.

You have to be mentally tough because you have to figure out how to get that stuff out of your head and continue to focus on how can I love this customer better, right?

  • Speaker A stresses the importance of mental resilience in business, especially in maintaining focus on enhancing customer experience.

Customer Experience as a Growth Strategy

  • The impact of a remarkable customer experience on business growth.
  • Encouraging customers to share their positive experiences with others.
  • Continuous improvement is essential, even if the business is already performing well.

Taste our koolaid. Taste our food. You'll come back.

  • Speaker A conveys Soulcycle's confidence in their offering, suggesting that the quality of their service ensures customer return.

The way that we'll grow is if we can get people in here and if that. The only thing they can think about the rest of the day and that what they tell everyone when they're at lunch and when they're at the water cooler and when they go home is like, oh, my God, I tried this gym. It was unbelievable.

  • This quote describes Soulcycle's goal of creating an experience so compelling that customers will naturally promote it through word-of-mouth.

Complacency and Industry Leadership

  • The dangers of complacency for industry leaders.
  • The importance of continuous innovation and customer focus to maintain industry dominance.

If you can think now, if you're like, what I'm already doing, that we're already serving your customer, if you actually have that response right now, you've already lost.

  • Speaker A warns against complacency, suggesting that believing one is already doing enough for customers is a sign of imminent decline.

And don't forget that everyone will put you out of business every single day. And it's whether you want it to be you or someone else, right?

  • Speaker A reminds listeners that businesses are constantly at risk of being outperformed and that it is up to them to innovate and stay ahead.

Empathy and Customer Care

  • Deep empathy is key to caring for customers.
  • Prioritizing customer needs leads to increased revenue and employee fulfillment.
  • Genuine care for customers transcends financial motivations.

And you have to love them in a way that they won't like that no one else loves them. Right. Seriously. And you have to get into this place of deep empathy, of, like, how can I care for these people?

  • Speaker A advocates for an unparalleled level of customer love and care, achieved through deep empathy.

I promise you that you will make more money, your employees will be more fulfilled. And the crazy thing is that when you make that money, when you finally make that switch, the money will be the last thing that you care about.

  • Speaker A asserts that a genuine focus on customer care will result in financial success and employee satisfaction, ultimately leading to a shift in priorities where money becomes secondary.

Ownership and Responsibility

  • Taking ownership of customer satisfaction is crucial for business success.
  • Business owners must assume responsibility for their customers' experiences.

It's ownership. It's huge ownership over their

  • This incomplete quote suggests that Speaker A is emphasizing the importance of taking significant ownership over the customer experience, although the full context of the statement is not provided.## Service Over Winning

  • Winning is not the primary goal; serving others is the path to success.

  • Serving more leads to winning more, establishing a positive correlation between service and success.

  • The focus should be on the "next game" that motivates and pulls you forward.

  • Serving your audience or market well is a prerequisite for reaching the next level of success.

  • The market rewards those who are genuine and dedicated to serving their clients or customers.

And it's not even about winning. It's just about serving. And when you do serve more, you do win more. It just is what it is.

This quote emphasizes that the true measure of success is not winning but serving others. By focusing on service, you inherently achieve success.

It's about the game that pulls you. And if you can't tap into that, then in some ways, you don't deserve the next level because you aren't serving your people the way that you should be.

The speaker suggests that being driven by a cause or purpose beyond oneself is crucial for deserving and achieving greater success.

Overcoming Overwhelm

  • Every business owner experiences feelings of being overwhelmed, and it should not be used as an excuse.
  • Overcoming this common challenge is part of the journey to success.
  • The speaker dismisses the excuse of overwhelm by referencing Gary Vee's attitude of facing challenges head-on.

So is every other business owner. So don't give that as an excuse. Because so what?

This quote dismisses the feeling of being overwhelmed as a valid excuse for not succeeding, implying that it's a shared experience among business owners and should be overcome.

Motivation Beyond Money

  • Earning beyond a certain threshold requires a motivation greater than personal financial needs.
  • Those who make significant amounts of money are often driven by a desire to solve problems and serve others, not by selfishness.
  • To achieve high levels of success, one must find a reason to make money that goes beyond personal comfort and satisfaction.

But if you want to make a million dollars, 10 million, 50 million, take home, you don't do it for you. You can't.

This quote argues that extremely high financial success is not achieved by focusing on personal gain but by having a broader motivation.

Problem-Solving and Authenticity

  • Successful entrepreneurs obsess over solving their customers' problems.
  • Authenticity and genuine effort are recognized and valued by consumers.
  • People are forgiving of failures when they believe in the good intentions behind the efforts.

Fixing problems is the easiest thing. It's like, what? Look at all of your customers and think and ask, what are you struggling the most with?

The speaker underscores the importance of directly addressing customer problems as a straightforward strategy for business success.

People know when people are legit. People know when they're actually trying, right? And sometimes if you fail when you're trying, people forgive.

This quote highlights the value of authenticity and effort in business, suggesting that customers are empathetic to genuine attempts to solve their problems, even if they don't always succeed.

The Drive for Greater Success

  • Comfortable success is not enough to drive significant progress; a larger driving force is needed.
  • Discomfort is necessary to achieve goals that are much larger than personal comfort.
  • The speaker cites Tony Robbins as an example of someone driven by a desire to change lives, which propels him to greater success.

You're not going to get above comfortable unless you have something that's much bigger driving you, because it takes a lot of discomfort to get to somewhere that's much bigger than that.

This quote suggests that achieving more than comfortable success requires a powerful motivator that can push an individual through discomfort.

Weapons Grade Compassion

  • To reach the highest levels of success, one must develop a profound level of compassion and care for others.
  • This level of compassion is described as "weapons grade," indicating its intensity and effectiveness.
  • Caring more is presented as the ultimate game in business.

You have to figure out weapons grade compassion. You have to figure out how to care more, because that's the game.

The speaker concludes that the key to reaching the pinnacle of success is to develop an intense level of compassion, which will drive business growth and personal fulfillment.

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