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The Four Phases of Entrepreneurship

From the book, “Founder, Farmer, Tinker, Thief” by Chris Cooper I’ve been a mentor for years. We currently have over 420 entrepreneurs in the TwoBrain family; over 2,000 have done a free call with me in person; and 20,000 purchased my first book, Two-Brain Business. Every single entrepreneur needs a 1:1 mentor, because no two businesses are identical. But entrepreneurs generally fall into four broad categories: Founder, Farmer, Tinker and Thief. We call these the Four Phases of Entrepreneurship. Which phase are you in? You can take the test here: www.twobrain.com/test Your phase isn’t determined by longevity. It’s determined by your profitability; your systems; your team; and your growth as a leader. Founders need different marketing strategies, branding and income than Farmers do. And Tinkers have completely different challenges. Every entrepreneur needs a mentor. And that mentor should offer education, advice and inspiration that’s specific to the entrepreneur’s needs RIGHT NOW. In the Founder phase, the entrepreneur leaps off the cliff with his big idea. His goal is simple: to survive. He opens his business. He buys his equipment and supplies. He signs the lease, the loan, and the letter of intent. He flips the open sign on the door. Then what? The Founder’s big idea might leverage a better life, but his labor is the fulcrum. And that’s understood by the Founder, who embraces the romantic ideal of the entrepreneur: poring over the books at midnight, a trace smear of flour or gym chalk on his tired face, pondering the next step up the ladder to success. #hustle #grind The Founder phase takes a heavy toll — physically exhausting, financially terrifying, and the largest strain on every personal relationship the Founder has. My job as mentor is to get the Founder out of the Founder phase as quickly as possible. Many businesses never survive this phase. The Farmer phase starts when the entrepreneur begins the shift from self-employed to ...
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Episode 128: Jason Rule of Driven Nutrition

 
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CrossFit Sour Grapes: Why People Leave Bad Reviews (And What To Do About It)

By Oskar Johed, TwoBrain Mentor, with afterword by Chris Cooper Brian Strump, another Two-Brain mentor and gym owner wrote the following on Facebook a few days ago: A guy drops in but wants to do his own thing. We tell him he can’t. He then returns 3 weeks later. – Him: I’m still not over what happened last time. – Me: Ok, then why’d you come back? – Him: Most gyms I’ve been to are friendly and welcoming. – Me: So are we when people follow directions. Can you imagine the chaos of 200 people doing whatever they want? – Him: I want to drop in and try a class. – Me: I don’t think this is the best fit here. There are a few other gyms nearby you should try. The drop in then writes on Facebook that “…the gym is a bad gym. Do not go. They do not want to train you they just want your money. There are better gyms in the area.”  The owner responded “…we never asked for any money from you. We decided it wasn’t a good fit for you to join. If we only wanted your money, we wouldn’t have done that.” As small business owners and entrepreneurs we are hyperaware of what people say about us on the “Instawebs”. Anything except a 5-star review is often considered bad. I am quite generous with my 5-star reviews and I am sure you are as well because of what I just mentioned. Even when I feel like giving a 4-star review I most often refrain from doing so. It warrants a written review to fill the void of the missing star and I can’t muster up the energy to do so. “A 5-star it is.” Everybody knows that most 1-star reviews aren’t relevant or accurate. Seldom do they reflect the quality of the service or product. They are given to make a statement. ...
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Episode 127: Dealing With The Competition

 
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The Surprising Thing My Visitors Say

Catalyst gets a lot of drop-ins in the summer. Located at the intersection of I-75 and Highway 17 (Canada’s only coast-to-coast highway), the Sault is Canada’s gateway. Visiting CrossFitters show up almost every day in the summer. Some of them have heard of Catalyst through the CrossFit Journal, or TwoBrain Radio, or the CrossFit Podcast.   When possible, I take the visitors for coffee at our cafe next door. I always ask, “How does Catalyst compare to your own gym?”   The most common answer I get is, “It’s not much different at all…”   And if you’re a gym owner, that should make you very excited.   I have cool equipment. So do you. I have amazing coaches. I’m sure you have some too (or are one yourself). I have nice bathrooms, nice t-shirts, and fun workouts. Just like you. I don’t have a whiskey bar, or a dedicated stretching room, or couches where athletes can “chill out” and talk about how they’re going to stay at Catalyst forever.   So WHY do I get to work 20 minutes at Catalyst every two weeks, and still make a great living? How can I possibly own the gym, and its building, and all the property surrounding it, and the building next door, and still take long bike rides and write books and sponsor dozens of kids–and you can’t?   Because when it comes to building a business, those things don’t make a difference.   I don’t make more money than you do because my coaches are 30% better.   I don’t get all this time off because my floors are cleaner. And my wife doesn’t tease me about being retired because my marketing game is amazing (it’s not–my marketing game is mostly handshakes and “good morning!”s)   Those things–excellent coaching, clean bathrooms, classes starting on time–are the bare minimum requirements.   No one is Googling, “Biggest CrossFit gym in Sault ...
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Should You Open A Second Location?

A second location doesn’t double your work; it quadruples it.   Is it worth opening a second gym? What about buying another local gym in town? The answer is “sometimes, yes!”   Sometimes a second location IS a great opportunity. Sometimes it’s a polished-up turd. And sometimes we’re just not ready for the opportunity when it does arise. In these cases, we don’t rise to the occasion; we fall to the level of our preparation.   Before you buy someone else’s mistakes–or duplicate your own–here’s the checklist we use with TwoBrain clients to determine whether they’re ready to open a second location:   Is your first location generating at least 33% gross profit margin, including your pay? Could your business run without you–without ANY contact from you–for at least two weeks? Are you already maximizing your revenue in your current space (3 core revenue streams, including group, PT and nutrition)? How will the second location impact your Perfect Day? Do you need this second location to get those clients? If another gym is closing, will you probably get them ANYWAY? And if you’re opening a second location from scratch, will your current clients split? Will this opportunity be available a year from now? In other words, do you have to do it right NOW?   If the answer to the first question is “no”, then you’re still in Farmer Phase. You can be ready for another location within a few months, but jumping in NOW will hurt your core business and probably your personal relationships. The Incubator will get you ready.   If the answer to the second question is “no”, see above. The Incubator solves that problem, too.   If the answer to the third question is “no”, ditto. Incubator.   The fourth question is trickier. Sometimes we want to seize every opportunity. Sometimes we want to stop others from having opportunities. And sometimes we confuse two gyms with ...
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