In this episode, the host reflects on lessons learned from opening his first gym, offering tactical advice and theoretical insights to aspiring gym owners. He suggests specific business strategies, such as limiting memberships to three days a week and setting precise pricing tiers, to maximize capacity and revenue. More importantly, he emphasizes the need to focus on customer experience over sales and marketing, suggesting that a truly exceptional service will naturally attract clients. Additionally, he advises hiring a skilled operator early on to manage the business effectively, underscoring the importance of valuing and listening to their input for sustainable growth.
"On everyone. I am wearing a Star wars themed pinky in the brain shirt. This used to be my favorite looking shirt for a very long time and I just found it in my closet, so I'm very excited about it." "So today I wanted to make a fun, I guess, presentation podcast for you. And I'm calling it six things that I would have told my younger self before opening up my first gym."
The speaker begins by sharing a personal anecdote to engage listeners and sets the stage for the main topic of sharing key lessons learned from opening a gym.
"The first day actually. I didn't sleep for like four days because all my equipment got there like two days before I was planning on opening it and it was disgusting. It was all like dusty and nasty and covered in dirt because I got it off some back of the truck somewhere. It was super sketchy."
The quote describes the speaker's initial struggle with setting up the gym, highlighting the effort and obstacles faced just before the launch.
"Tactically, I would have said don't do unlimited. Do three days a week, you'll double your capacity." "Make sure that your prices are like between 170 and 210 for your lowest session. And if you want to offer semi private, you need to have it between 507 hundred." "Then I would have said, bill Weekly, not monthly, so that you can make more money that way."
These quotes provide specific tactical business advice for gym operations, focusing on maximizing capacity, setting appropriate pricing, and optimizing billing cycles for increased revenue.
"The two things that I would have said to myself is, first, you need to actually like your customers, and you need to embrace the fact that the reason that you don't have people storming into your gym right now is because you aren't that good." "If it were so amazing, people would tell everyone they know about it, and then your gym would be full."
The speaker emphasizes the importance of genuinely liking and understanding the customer base, as well as recognizing the need for self-improvement when the business is not attracting as many clients as expected.
"his thing where we want to protect our own egos and say, we're doing so well, we're so good, but the reality is you're probably not."
This quote underscores the tendency of business owners to protect their egos by overestimating their success, which can hinder objective self-assessment and growth.
"Like, half the gyms are below average."
The speaker uses gyms as an example to illustrate the statistical reality that many businesses are performing below the median level, challenging owners to critically evaluate their own standing.
"even if you're above average, it doesn't mean you're good, right?"
Here, the distinction is made between being above average and actually being good, suggesting that mere above-average performance is not enough for true success.
"economics of any category flow to the king of that category."
The quote explains the principle of category economics, where the market leader garners the majority of benefits within a specific category, leaving competitors with significantly less.
"I would have not focused as much on the marketing and the sales and would have focused a lot more on what we could have done to truly create a memorable, unbelievable experience."
The speaker reflects on past priorities, indicating that an exceptional customer experience should be the focus over marketing and sales efforts.
"You're not that good. You think you are, but you're not."
This direct quote is a hypothetical message to the speaker's younger self, emphasizing the need for humility and the recognition that there is always room for improvement.
"Soulcycle does not have an EFT. They do not have recurring memberships."
The speaker mentions Soulcycle as an example of a business that has thrived without relying on traditional membership models, instead focusing on the quality of the customer experience.
"Their food's so good that people are like, you've never been to Chipotle?"
The mention of Chipotle serves as another example of a business that has succeeded largely due to its product quality, which naturally drives word-of-mouth marketing.
"how can we make an experience that's so good, so memorable, so exceptional, that people can't help but tell everyone they see the rest of the day about, that was their goal."
This quote describes the ambitious goal of Soulcycle to create an exercise experience so outstanding that it would naturally prompt customers to share it with others.
"how could I, if I was not allowed to market, how could I create an experience that was so good, so amazing, so five star, that everyone would tell everyone else about it?"
The speaker challenges the listener to imagine a scenario where marketing is not an option, thus forcing the focus on enhancing the quality of the customer experience to a level that drives organic growth.
"Hey, if you're a return listener and you have not rated or reviewed the show, I want you to know that you should feel absolutely terrible about yourself and everything else in the world. I'm kidding."
This quote is a humorous attempt to motivate listeners to engage with the podcast by leaving a rating or review, signifying the role of audience participation in the show's success.
"But it would mean the absolute world."
The speaker expresses genuine appreciation for listener support, indicating that audience feedback is highly valued and impactful for the podcast.
"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."
This quote stresses the significance of word-of-mouth promotion for the podcast's growth and the collective effort required to reach and assist a broader entrepreneurial audience.
"And ONLY by accepting the fact that you're not that good will you be able to grow."
This quote emphasizes the importance of self-awareness and humility as a catalyst for improvement and growth.
"What does the first 5 seconds look like? What are the exact things the trainer is supposed to say? What energy they're supposed to have? What are they wearing? Where is everyone located in the room? Are they saying hi to each other? Are you greeting everyone by name?"
This quote illustrates the level of detail that should be considered in crafting a customer experience that stands out as truly exceptional.
"The second thing that I would tell myself is, you need to hire an operator."
This quote highlights the speaker's realization of the importance of an operator in running a business effectively.
"Hire a great operator, because if you have this big vision of what you want this to be, you're going to need someone to operate that."
This quote reflects the understanding that an operator is necessary to turn a business vision into reality, especially when it comes to managing details and routine operations.
"I would probably say if you can try and start somewhere at like high thirties, forty grand a year and go from there, every market is different."
This quote suggests a starting salary range for hiring an operator, indicating the financial commitment required to bring in a skilled individual to manage business operations.
"And to be fair, the business was a reflection of who I was as a business owner at that time."
This quote implies that the state of the business is a direct representation of the owner's skills, values, and priorities at a given time.
"And for your business to grow, you will have to grow, and then your business will grow as a reflection of your growth."
This quote conveys the idea that personal development is a prerequisite for business expansion and success.
"The reason that gym launch, like I said, is what it is, is because we have an entire team of moms, and I hope I'm not trying to sound sexist, but we have a whole team of moms who take care of our gym owners."
This quote describes the supportive nature of the team at gym launch, attributing their success to the maternal care provided to their clients.
"A lot of times, and I would fail people even with the best of intentions. And so it's just being candid with yourself and knowing what you suck at and then aggressively hiring against that and hiring people who really are good."
The speaker emphasizes the importance of self-awareness in recognizing their own lack of patience and attention to detail. They suggest that understanding one's weaknesses is critical to hiring the right people who can perform better in those areas.
"Understand that I'm probably not as good as I think I am and really heavily invest in thinking, like, how can I make this customer experience so good, so amazing, that if I had no ability to market that people would be banging down my door."
This quote underscores the necessity of humility and the focus on enhancing the customer experience to the point where marketing becomes secondary to organic growth driven by customer satisfaction.
"It would really be finding that first follower who really buys into the vision, who really, really cares about your customers, even almost to the point where you're like, sometimes I worry if they care more than I do."
The speaker highlights the importance of having someone on the team who is deeply invested in the company's vision and customer welfare, to the extent that their dedication could even surpass that of the owner.
"And that's probably the last thing that I've learned in the two years of scaling gym launch has been learning to listen to people telling me no."
This quote reflects the speaker's personal growth in accepting and valuing the opinions of others, especially when it comes to making strategic decisions for the business.
"So if I had to go back in time, I would obviously have given those little quick tactics of Bill weekly, have three times a week be your main session that you're selling so you can double your capacity, run into capacity issues, make sure your price points between 172 ten and then between 507 hundred."
The speaker provides specific tactical advice they wish they had known before starting their first gym, emphasizing efficient billing, session scheduling, pricing strategies, and capacity management.
"So anyways, guys, I hope you found this valuable. Drop a comment or drop a like so that someone else can hopefully find it valuable. But otherwise, have an amazing day, have an amazing week and I will see you guys soon. Bye."
In closing, the speaker invites interaction with the content and extends well wishes to the audience, indicating a desire to provide helpful insights and foster a positive community.