#107 - 10 years in business: 10 biggest lessons learned

CELEBRATING 10 YEARS IN BUSINESS: 10 BIGGEST LESSONS LEARNED Lesson 1 – The Offer is King/Queen Our first Bootcamps. Done-for-you everything. Sell what people actually want. Otherwise business is hard Lesson 2 – Save Your Money Don’t buy shit to impress people you don’t know or like. Money in the bank helps me sleep at night when things go bad—and they will go bad. Lesson 3 – Timing Matters Market over the manager. We got lucky in 2015. If you get lucky, execute fast and stay consistent. Lesson 4 – A Sale a Day Keeps the Doctor Away Sales fix almost every problem in business. And sales come from activity, not one magic line in a script. Lesson 5 – Pricing Can Make or Break You If you get pricing wrong, nothing else matters. Not the offer, not the timing, not the luck. If the money math doesn’t work, it’s game over. Lesson 6 – Focus, Focus, Focus Avoid shiny objects. This has been my biggest mistake, over and over. If you get bored, go for a walk don’t change something in your business that’s working. Lesson 7 – Supportive Partner When things get challenging and you need to go into overdrive, your partner needs to be on board. If not, she’ll resent the business—and you’ll resent her. Communicate early if you’re about to enter one of those periods. Lesson 8 – Friends That Work for You I think it’s a great idea. One of my close mates was a trainer for 7 years—we travelled together, watched UFC, caught up monthly. You’ll both make mistakes. Just separate the worlds. If it was serious, I’d say, “This is not your employer talking, this is your friend,” and vice versa. Lesson 9 – Everyone Cancels People get divorced after buying homes and having kids. So don’t be shocked when someone cancels their gym membership with one email and pretends you never existed. Lesson 10 – Business Partnerships If one partner wants $1M and the other wants $10M, you’re going to have problems. Mitch and I drive the same car, live in similar homes, and spend the same way. Your personal life goals need to be aligned.