In an impromptu discussion, the host explains the inevitability of challenges in a growing business, using the example of gym owners who face issues beyond initial customer acquisition. He emphasizes that solving one problem often uncovers another, likening business growth to enduring and overcoming a series of "earthquakes." The host, borrowing a phrase from Alex Tarpon, asserts that "success creates deficits," meaning that growth necessitates the development of new skills and solutions. He candidly shares his own entrepreneurial journey, stressing the importance of continuous learning and investment in information to accelerate progress. The conversation also touches on the benefits of community and shared knowledge in the industry, with the host advocating for a mindset of responsibility and resilience among entrepreneurs. He concludes by promising ongoing improvement and support for his clients, hinting at future developments in his business model.
"Going on, everybody, happy hump day, happy Wednesday. I don't know what day you're actually consuming this on, whether it's podcast or video, but whatever way you are consuming me, welcome."
This quote is Alex Tarpon greeting the audience and acknowledging the different ways and times the content might be consumed.
"And this one was not planned at all, but was something that my sales director messaged me just a couple seconds ago and he was saying that he was talking to somebody who was in launch and they basically have grown, essentially, and as a result, need to hire people because their business is scaling."
Alex Tarpon sets the stage for the episode by sharing the impetus for the discussion: a conversation about a business needing to scale due to growth.
"Success creates deficits. And I'm borrowing that phrase from Alex Tarpon, but I don't know if he was the first one to say it, but success creates deficits. There is no business program in. Right. That will solve all of your business problems."
Alex Tarpon emphasizes that success in business leads to new challenges and that no single program can address every issue a business may face.
"Because as you solve one, another will appear. It's part of growth."
This quote reinforces the concept that business growth is a continuous process where solving one problem leads to the discovery of new ones.
"And so when gyms come into our world in the beginning, the first problem they have is an acquisition problem. They don't know how to grow their business at will."
Alex Tarpon identifies customer acquisition as a primary challenge for new businesses, particularly gyms.
"But once you have an acquisition system, the acquisition system does not solve your problem. It exposes the problems that are already there in your business."
This quote explains that while an acquisition system is vital for business growth, it reveals other underlying issues within the business that need to be addressed.
"The business is limited by you. I can tell you that. If I started another business and this ended tomorrow, I know. I can tell you without a shadow of a doubt that it would be a $50 million business within 18 months."
Alex Tarpon asserts that the entrepreneur's skill set limits or enables the potential for business growth.
"And so what needs to happen next? You have to scale fulfillment, right?"
Alex Tarpon identifies scaling fulfillment as the next step after addressing acquisition challenges.
"That's where leadership comes into play. That's where inspiring the team, that's where having commission based structures that make sense that are going to be tied to key KPIs, right? Key performance indicators, those are all things that are going to drive the growth of the business."
This quote highlights the role of leadership and appropriate incentive structures in scaling a business and addressing growth-related challenges.
"Anything is going to solve your business's problems because it's a faulty mindset of thinking that your business has a problem and then when it is fixed, it will be done. Like, I can retire now."
Alex Tarpon critiques the notion that businesses can reach a point where no new problems will arise, emphasizing the need for ongoing growth and adaptation.## Growth or Stagnation
"decide that you no longer want to grow and then it's true. But then if you're not growing, you're stagnating. And if you're stagnating in this market in 2018, in a market that grows faster than ever, with more competitors than ever, what do you think is going to happen when you stagnate?" "The core tenets at gym wants to grow or die. And that's more so targeted at us, the employees." "The business's growth will be capped by the personal growth of each member."
These quotes highlight the importance of continuous growth for both individuals and the business. Stagnation in a dynamic market leads to failure, while the company's progress is limited by its employees' personal development.
"That's what part of growth is, right? That's the deficit that you're feeling, the pressure that you feel of like, oh, shit, this is messed up, is a good thing." "You're always going to have a deficit. It's just going to be different, and then you're going to learn how to fix it."
These quotes suggest that recognizing skill deficits and feeling pressure are integral parts of the growth process. Employees should accept and learn from these challenges rather than be discouraged by them.
"Why do gyms either break or blow up with gym launch? Because we force growth, right?" "You can solve those problems faster with community and leverage information advantage."
The quotes explain the gym launch strategy of forcing growth by providing solutions to common problems and utilizing the power of community to accelerate business success.
"And we can iterate based on the successes of everyone who's here, who is willing to look at problems, future problems, solve them together, and then grab the best pieces and make one unbelievable super gym, right?"
The quote emphasizes the iterative nature of the gym launch model, which evolves by incorporating successful strategies from the community, fostering an environment of collective problem-solving and innovation.
"So what is it? I don't know. I'm still trying to figure out a word for it. It's like a white, labeled micro gym model. It's an information broker."
Alex Tarpon expresses the difficulty in categorizing the unique business model of gym launch, which functions differently from traditional business models by focusing on sharing information and best practices for accelerated growth.
"That's how you've got people like Joey Huber, who by his 16th week of gym launch had tripled his business from him doing 40 grand a month to doing 120,000 a month recurring, right, by his 16th week."
The quote showcases a specific success story, highlighting the transformative impact of gym launch's methods on business growth, demonstrating the advantage of having a clear roadmap and expert guidance.## Information Advantage and Leverage
"Right, but that's the advantage of having an information like advantage. Like you have leverage. You have people who have traveled in the path already, and all you have to do is model it."
This quote highlights the benefit of learning from others' experiences to gain a competitive edge and avoid common pitfalls.
"It's called 100 million dollar offers."
"You can get it for $0.99 on kindle."
"It's my biggest give to our community."
These quotes promote Speaker C's book, emphasizing its value and affordability as a resource for listeners.
"But the reason that Jim launched does not solve all of the business problems is because we were coming in to solve one problem, which is acquisition."
"It's the number one thing that happens when people get into legacies. They see all of the problems that they didn't know they had, and then they're like, and that's okay because it happens in sequence."
These quotes explain the strategic approach to solving business problems by addressing them one at a time to prevent overwhelm and facilitate growth.
"That is the path of the entrepreneur, right? We see a problem, we identify the problem, we become the sponge to figure out the issue or the solution, and then we figure it out well enough that we can teach someone else to do it so that they can permanently do it and then learn to do it even better than we did."
This quote outlines the iterative process of learning and teaching within entrepreneurship, which facilitates both personal and business growth.
"And that's why the rich get richer, right? Is that the first million is the hardest?"
"The number one investment that I've ever made in my entire life has been information."
These quotes discuss the concept of using initial earnings to invest in information and time-saving resources, which in turn can lead to exponential growth and success.## Personal and Business Growth
"It's not fast enough, which means I'm not good enough to get there, right? And so it takes a certain amount of, like, just don't have an ego about it. You probably suck. And that's okay because I suck, too. You know what I mean? And we just get better together."
This quote emphasizes the importance of humility and the recognition of one's own limitations as a catalyst for personal and business growth.
"Because your business will always be broken, provided it is growing, period. Which means that you will always have a skill set that you are in a deficit of because your business requires you to be someone bigger than you are right now, if you are growing."
Alex Tarpon is stating that continuous growth in business inherently means facing new challenges that require evolving skill sets, implying that an entrepreneur must constantly develop to keep up with their business's needs.
"And the reason so many gyms break or blow up is because the grit of the entrepreneur who goes through it is willing to grow when they are confronted with a category five earthquake instead of a category one."
Alex Tarpon highlights that the success or failure of a business, such as a gym, can depend on the entrepreneur's resilience and willingness to address and overcome significant challenges.
"But the thing is, the responsibility will always be on you, right? Because you're the one who's going to have to grow always, right?"
This quote reinforces the idea that the entrepreneur is ultimately responsible for their own growth and the growth of their business.
"I need to grow. That's why my business isn't where I want it to be."
Alex Tarpon suggests that recognizing the need for personal growth is crucial for business development and that this mindset should persist irrespective of the level of success achieved.
"If you know it's going to work ahead of time, it's not an experiment."
Alex Tarpon is pointing out that true experimentation involves uncertainty and the possibility of failure, which is a necessary part of progress.
"We buy information through failure and failed attempts and man hours, and then we sell that information as a winning scratch off ticket that we already know works."
This quote explains the business model of learning from failures, refining processes, and then selling the successful methods, thereby reducing the cost of progress for others.
"We create this company to serve you in a higher way, and we will always try to do that. So that's my promise to you."
Alex Tarpon asserts the company's commitment to serving clients and continually improving to meet their needs more effectively.
"And we had some really huge plays coming up that I will not talk about, but they're really huge, and they are coming up soon, and I'm beyond excited."
This quote teases future plans and innovations that are in the pipeline, indicating ongoing efforts to enhance the business and provide value to clients.