The easiest way to grow your wealth is to do the same thing you’ve done before. You already know how to build a good gym—why not just build another?
Because, as entrepreneurs, we’re attracted to novelty. We love new challenges.
So if you’re tempted to build a second business that isn’t a gym, build a business that serves the same audience your gym does.
Two key lessons I’ve learned from my mentors are:
1. “If you know how to build an audience, you’ll never go hungry.” —Todd Herman
2. “Don’t find an audience for your product. Find products for your audience.” —Seth Godin
Building an audience is the hard part. Building a product or delivering a service is the easy part. This is one of the most important lessons I can give you in Tinker Phase. It’s true, but most people miss it—and that means they start from scratch over and over, spending years trying to get the first few clients for their second big idea.
Instead, start with your audience and ask, “What else do these great people need?”
I started Two-Brain Business because passionate microgym owners were going out of business. These poor first-time entrepreneurs had dedicated their lives to helping others get healthy, and all they were getting for their labor was a ton of debt and ruined relationships. I knew that 1:1 mentorship had worked for me, and wanted to give other gym owners a way to get 1:1 mentorship that was specific to them.
But I’ve also spotted other ways to serve this same audience. Sometimes I’ve pursued these opportunities myself, and sometimes I’ve started companies and then sold them to others so I can focus on growing Two-Brain Business faster. Sometimes I’ve linked up with great companies that can serve and support members of my audience, which is a win for my clients and me, and for the other companies.
Whenever I consider launching a new business, I follow a golden rule: It must pay for itself over and over again. But the actual program details aren’t hard because I stay focused on one audience and ask myself, “What else can I provide to these people?” When I spot a way that I can make their lives easier or make my service even more leverageable, I buy it for them.
All my businesses are client-centric service businesses.
Most of them serve the same audience.
Each helps me serve my audience better.
How can you serve yours better?
