Lead Magnet Success Quickstart Guide, Part 2

This week’s edition of Marketing Monday will be a follow up to last week’s lesson on lead magnets. If you didn’t get a chance to check out Part 1, CLICK HERE to catch up! Otherwise, keep reading…

You can use your content (blog posts, recipes, workout videos) to create digital assets and resources for your prospects. We call these lead magnets and with these digital assets, you can leverage them to generate more subscribers, leads, and potential customers for your business.

 

Once you have your lead magnets created, you should give these away to your prospects in your audience for free and you can create online posts that promote your offer and highlight the benefits of your free resource. In order to do that, you need to send that post out on all of your social channels. Click to watch and learn the best way to generate new member intros using lead magnets and social media:

How To Survive A Second Location

How To Survive A Second Location

By Jeff Larsh, TwoBrain Mentor

 

“It was such a great opportunity.”

“I would never have gotten another chance.”

“It made sense at the time.”

“I thought it would be so cool to own two locations!”

“I wanted to help more people.”

 

No matter what your reason(s), you have found yourself here: with a second location and it’s not everything you thought it was going to be.  The notoriety isn’t as grand as you expected. You aren’t helping more people. And you certainly are not making double the money (and sometimes less than you did before).

 

I am not going to beat around the bush.  You are in entrepreneurial limbo and if drastic change does not happen soon, you can lose one or both of your businesses or perhaps even worse, you will be exactly where you are now in 5 years.  So pull up your bootstraps, it’s time to get you back to where you belong.

 

Step 1: Lock up your Legal

If you are the sole owner, skip this step!  If you are in a partnership, you need a solid Shareholders Agreement.  This needs to be done as soon as possible. You are about to make drastic changes and you and your partners may not see eye to eye.  In the case that things do go south, a Shareholder Agreement will outline exactly how those business relationships are going to end, in order to be fair to all parties involved.

Download our Sample Shareholders’ Agreement Template here.

 

Step 2:  Divide and Conquer

This one is going to be hard and I can already hear most of you saying: “there’s no way it can survive on its own!” but you need to cut the cord between the gyms.  Separate the expenses. If there are any that are shared, divide them out. If your second location cannot stand on its own as it is, you either have to make drastic changes to how you are operating or you need to shut it down.

 

Step 3: Back to Basics

It’s been a fun couple years with you playing with lots of great ideas and there will come a time when you can return to these.  But now it’s your responsibility, and your duty, to step up and do what is truly hard: and that is aggressively streamlining where you spend your time and money.  

 

You only have a finite amount of time and ALL of it needs to go towards the core aspects of your business. You need to drop any and all extra projects that aren’t core to your operations.  Any side hustles? Shut them down. Retail initiatives? Gone. Extra programming online? Not anymore. If it’s something that only exists because it is “nice” for your members to have, it should probably go.   Get focused.

 

Financially, we are talking a significant limiting of expenses.  You need to make every dollar count. Got a class that has low attendance?  Drop it. Buying extra SkiErgs? Not for the next little while you aren’t. You need to become obsessively aware of where you spend your money and then limit this spending at all costs.

 

Step 4: Ask for Help

If you have a second location and are struggling; you are not the only one and you do not have to find your way out by yourself.  Others have travelled these roads before you and can help you navigate the potholes and tight turns, but only after you have put aside your fears and doubts and asked for help.

 

Owning a second location can at times feel like a burden and add a tremendous amount of stress but if done right, it can also be rewarding, profitable, and a true marker of entrepreneurial success.  

 

Are you ready to do what is necessary?

 

Jeff Larsh owns Tidal CrossFit, with four locations in the Toronto area.

 

What Counts On Instagram

What Counts On Instagram

by TwoBrain Media

The ego loves likes.

But the brain knows better.

On Instagram, a string of hearts is a good thing: It means people took the time to double-tap and like your content. That’s engagement, and it’s important. A like is better than nothing, but a comment is even better still. Comments mean people stopped scrolling and took the time to write something, ask a question, offer a compliment, and so on. They didn’t just give you a high five in passing. They stopped to say, “Wow. I really like what you did.”

That said, likes and comments are the singles and doubles of Instagram, to use a baseball analogy. Profile visits can be considered triples, and website clicks are home runs. A profile visit means you did enough to make someone want to learn more about your business. A website click means you moved a person to get off Instagram and get onto one of your properties, where you can educate, inspire, help and ultimately earn clients or customers.

Not to be overlooked: shares and saves. Both are good. A share means a person thinks a friend would be interested in what you have to say, and the sharer is helping you get the post in front of a potentially interested party. A save means a person wants to spend more time with your content later on. It might mean someone is interested but rushed or it might mean a person wants to revisit your content. Either way, you’re winning.

All of this insight is available to Instagram business accounts, but it’s very easy to miss it when you’re watching a string of hearts pop up in your notifications.

Here are actual stats from three posts a gym made in January 2019:

Photo 1: 72 likes
Photo 2: 192 likes
Photo 3: 230 likes

The second and third photos were big hits for this account and generated far more likes than an average post, which receives about 50 likes per post.

So which post was the most successful? You might say Photo 3, which was a creative riff on a popular challenge. The post lacked a call to action and wasn’t designed to do anything in particular. Photo 1 and Photo 2 did have calls to action. The former directed people to a YouTube video, and the latter asked people to book a free consultation. Here are the actual engagement stats for each one, and it should be noted that half of all comments were written by the original poster as responses to organic comments:

Photo 1

72 likes – 5 comments – 2 shares – 0 saves
61 actions: 34 profile visits/27 website clicks

Photo 2

192 likes – 25 comments – 16 shares – 3 saves
12 actions: 12 profile visits/0 website clicks

Photo 3

230 likes – 16 comments – 0 shares – 2 saves
18 actions: 18 profile visits

Photo 1, which had the fewest likes and comments, had a huge number of actions, including 27 clicks that directed the viewer off Instagram and into a branded YouTube video designed to establish expertise.

Photo 2 didn’t have any website clicks—which was the desired outcome—yet the post was shared 16 times. A bit more info: the post featured seniors working out, and 16 people decided a friend needed to see it. This recommendation carries a lot of weight, and in this case it’s hoped that younger viewers of the original post sent it to parents who might need the services featured. Without being able to pinpoint the exact result of the shares, it’s certain that the post reached a warmer audience by virtue of the share.

Photo 3 had a landslide of likes and a decent number of profile visits, but viewers didn’t do anything else. That’s not necessarily a bad thing: They still looked at branding and read more about a business. But a profile visit is far less valuable than a website click.

In short, insight is essential on Instagram. To access your insights, ensure your account is set to “business.” You can do this through the settings menu. To access collected insights, go to your home page, then click “insights” in the menu found in the upper right corner. To access insights for individual posts, click on your post, then click “view insights,” which can be found directly under the photo or video.

1.

2.

3.

Hopefully this short exercise motivates you to look beyond likes and take a closer look at your Instagram data. You’ll find valuable information there, and you can use it to determine which posts to boost, what sort of content to create, and how certain content motivates people to interact with our business.

Episode 153 – The Tinker Phase of Entrepreneurship, with Jeff Smith

Episode 153 – The Tinker Phase of Entrepreneurship, with Jeff Smith

Jeff Smith is the owner of Cannon CrossFit, a real estate investor, and leader of the TwoBrain Tinker program.
In this episode, Jeff talks about his story, what it means to be a mentor, and what it means to help those in the Tinker Phase.

Contact Jeff:Jeff.smith@twobrainbusiness.com
Timeline:
2:39 – Introduction with Jeff Smith
11:30 – Joining Two Brain as a mentor
13:09 – Joining the military, the motivation behind the decision
15:31 – Jeff’s other business, real estate.
17:14 – The importance of being a lifelong learner
21:27 – The benefits of splitting up your day with a workout
22:39 – How has a real estate investing led to becoming a better mentor
26:12 – The importance of learning while mentoring someone else 
​29:53 – How to contact Jeff
​​

“For this reason, they must believe in the cause for which they are fighting. They must believe in the plan they are asked to execute, and most important, they must believe in and trust the leader they are asked to follow.”

—Jocko Willink, Extreme Ownership: How U.S. Navy Seals Lead and Win

Founder, Farmer, Tinker, Thief

In the Great Information Age, we all have access to more knowledge than we can absorb, let alone act upon. And action is the only thing that matters. So what knowledge should entrepreneurs have? What action should they take? When?

The modern problem for business owners isn’t lack of knowledge: it’s too much knowledge. It’s paralysis by analysis. It’s overwhelm.

Entrepreneurs pass through four distinct phases as they first grow their business, and then their leadership. These phases are Founder, Farmer, Tinker and Thief.

In the Founder Phase, the entrepreneur leaps off the cliff with his big idea. His goal is simple: to survive.

His 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 on his tired face, pondering the next step up the ladder to success. Hashtag #hustle, hashtag #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 never survive this phase.

The Farmer Phase starts when the entrepreneur begins the shift from self-employed to business owner. He’s hired his first employee, even if it’s a low-level role. He’s begun paying himself a little. But he’s probably still the face of the company. He’s probably still baking the donuts at 4am, then answering emails and making sales calls “when he can”. He’s still working in the business instead of working on the business. He’s busy being busy.

In the Farmer Phase, the entrepreneur is susceptible to the Martyrdom. “No one can do it like I can!” he thinks, whether about sweeping the floors or mixing the secret recipe. And he’s right: no one else would do it that cheaply, that tired, or at the expense of their kids’ baseball games. No one else would work for a boss so demanding, so cheap, so ruthless — but in buying himself a job, the Farmer is beholden to his own self-worth.

My role as mentor to the Farmer is to replace him in low-value roles, and fill his time with high-value roles. It’s to systemize his batter-mixing, replace him at the front counter, and teach him to grow his reach. Eventually, it’s to get him home by dinnertime.

The Farmer Phase is where 90% of entrepreneurs spend the entirety of their careers. They call themselves “owner-operators”, and most will never even retire from their business, let alone become wealthy.

But some do. These are the Tinkers.

A Tinker has built a business that runs itself. Now she’s trying to build another; or to duplicate her first success; or to take her first idea to a new market; or to start over with a new idea. If she’s not given new challenges, the Tinker will probably stick her hands in the machine, constantly “tweaking” her original business until it’s broken.

My role as mentor to Tinkers is to help them identify the Next Big Project, and then keep them focused on it. I’ve never met a Tinker who didn’t have at least three Big Projects in mind. Free from their original business — and still making passive income from it — the Tinker’s greatest risk is killing the golden goose.

The Tinker’s attention must shift from developing their first business to developing themselves as a leader. That means a plan for physical activity, mental acuity, and mental training. It means peer support: “It’s lonely at the top” describes the Tinker to a capital T. It means mentorship from someone who has successfully navigated the “valley of death” created by hiring a management layer for the first time.

If they can, the Tinker becomes a Thief.

A Thief moves resources from an area of high concentration to an area of low concentration. Think Robin Hood, not The Hamburglar. With new resources, the Thief seeks to build a legacy business, providing multi-generational wealth or service to his community.

Many Thieves turn to mentorship. Others create bursaries or endowments, or found charities. Some continue to build, forging partnerships and taking their expertise to new markets.

My role as mentor to the Thief is — well, I don’t mentor Thieves. They mentor me. They inspire me, educate me, and ask me: “Who did you serve this week?”

The path from Founder to Thief is the path to self-actualization. The Founder builds a Foundation of service; the Farmer cultivates success; the Tinker builds on his invention. The Thief spreads the wealth.

Success isn’t guaranteed in any Phase. But it can be strongly aided through mentorship, and that’s why I’ve chosen to mentor other entrepreneurs.

Which phase are you in? Take my test: www.twobrainbusiness.com/test

Contact Jeff:
Jeff.smith@twobrainbusiness.com

Timeline:
2:39 – Introduction with Jeff Smith
11:30 – Joining Two Brain as a mentor
13:09 – Joining the military, the motivation behind the decision
15:31 – Jeff’s other business, real estate.
17:14 – The importance of being a lifelong learner
21:27 – The benefits of splitting up your day with a workout
22:39 – How has a real estate investing led to becoming a better mentor
26:12 – The importance of learning while mentoring someone else 
29:53 – How to contact Jeff

 

Lead Magnet Success Quickstart Guide

Every day, you could have hundreds or THOUSANDS of people viewing your website.

 

While any visitor to your site should find a ton of free content, ONLY those willing to trade their email address should get your most valuable content.

 

This is where having a lead magnet can really help your business. Click the video below to learn how you can add 5-10 email subscribers to your list every day with lead magnets!

Systems Before Sales

Last night, my son’s hockey team finally won a game.

One of my service goals is to introduce kids to fitness and sport in our community. So Robin and I sponsor teams, manage teams, and coach teams. I’m not much of a hockey coach, but I do know this: offense wins games, defense wins championships.

We won because we scored the most goals. But we scored the most goals because our defense created a lot of chances.

When the defensemen keep the puck in the other team’s zone, the forwards get more chances to score. And their team really can’t score when the puck’s in their end of the ice. So a few of our kids scored–including mine–but the win can be credited to the defense. All of our offense is built on their foundation.

When I sought out a mentor in 2008, I was looking for sales. I needed money badly. I didn’t even have the money in my account to pay him. So when he started teaching me business systems, I panicked.

“Who cares how often I sweep the floors? I need more clients!” that was the thought I shared with my wife. But I did the work, built the foundation, and started selling.

Many of the clients who were around in 2008 are still around NOW. Most of the same coaches, too. We can sell more memberships and keep people for a very long time because we built the foundations first.

It’s very tempting to chase marketing plans before solidifying your operations. The story usually goes like this:

  1. Gym owner runs a short-term challenge for a bunch of people
  2. Gym owner sees some positive revenue for the first time in awhile
  3. Gym owner becomes a huge fan of the marketing “system”, and repeats it
  4. A year later, the “new” clients are gone, and have taken the old clients with them
  5. The owner still doesn’t feel safe in their business
  6. Sometimes the owner is still working a day job, but doing more work than ever
  7. Coaches are burned out
  8. Ad costs are going up
  9. Lead quality is going down

…and the owner stares into The Abyss, seeing his life spiraling downward. He hates his business, hates his job, hates some of his clients, hates his lack of control over his life. This is NOT what he signed up for!

In our Incubator program, we fix operations and build systems first. That means a career roadmap for coaches; a meaningful long-term relationship for clients; and a few days off for the owners.

We have the best sales and marketing mentorship program in the industry. But we start with systems first, because defense wins championships. When you can keep the puck in the offensive zone, you spend less time fighting fires and more time taking shots on net.