Episode 149: Lessons Learned, with Vaughn Vernon

Episode 149: Lessons Learned, with Vaughn Vernon

Episode 149 – Vaughn Vernon – Lessons Learned

Today we are joined by Vaughn Vernon, owner of Affiliate Guard. Affiliate Guard is an industry-specific company that provides insurance coverage for affiliates. Founded by Vaughn in 1999, Affiliate Guard insures 2,500 gyms across the world today. Join us as we talk about Vaughn’s growth as a business and as an entrepreneur.

This episode is NOT about insurance. But Affiliate Guard is an official TwoBrain partner, which means they uphold the TwoBrain standard of excellence and care.

Don’t Forget! Find out what stage of entrepreneurship you are in by taking the exclusive Two Brain test here: https://twobrain.com/test/or schedule your free mentoring call by clicking here!

Links:

http://affiliateguard.info/

https://www.linkedin.com/in/vaughn-vernon-b6517087/

  

Timeline:

0:25 – Introduction to Vaughn Vernon

1:55 – Vaughn’s experience growing a major insurance company 

6:11 – Growing a business within a niche

8:29 – What is the structure of Affiliate Guard? What can we learn about the structure of other businesses from AG?

9:40 – Keeping communication open while running a family business

10:52 – Realizing that you cannot be everything to everybody

12:48 – Determining the seed clients necessary to start an insurance company

15:27 – How complacency can cause problems in your business

16:05 – What does a typical day look like for Vaughn?

18:15 – Insight into the Affiliate Guard hiring process

23:57 – Two Brain Stories with Matt Koym

 

 

Episode 148: The Multiple-Location Model, with Jeff Larsh

Episode 148: The Multiple-Location Model, with Jeff Larsh

It’s no secret that many CrossFit affiliates have opened a second location and had a very bad experience. The mistake usually comes from the old, flawed model of “the more clients, the better” and has sometimes been fatal.

 

As I wrote in “Should You Open A Second Location?” A second location doesn’t double your work; it quadruples it. There’s a checklist in that article to help you decide whether the opportunity is really worth it.

 

But Jeff Larsh is one of the very few who has done it successfully. Jeff is the co-owner of several CrossFit Tidal locations.

 

Over the last eight years, Jeff has opened four CrossFit gyms by successfully implementing a multi-site CrossFit model. Jeff has a wealth of experience to draw upon to help you create a profitable and well-run business. Whether just starting out or looking to scale your current operations, join us today as we talk about adding an additional location to your business and much more!

 

Jeff and host Greg Strauch discuss opening multiple locations from scratch; leadership; and holding several locations to the TwoBrain standard.

 

Important Steps when adding an additional location:

 

Step 1: Make sure it aligns with your vision and is not just a shiny object

Step 2: Ensure that systems and process are in place to scale your business

Step 3: Prepare the support structure required for a multi-location business

Step 4: Decide whether to purchase or start a second location from scratch.

For those considering the purchase of another gym, here’s another resource:

Should You Buy Out Another Gym?

Step 5: If purchasing, finalize the offer and wrap up the deal.

 

Don’t Forget! Find out what stage of entrepreneurship you are in by taking the exclusive Two Brain test here: https://twobrainbusiness.com/test/or schedule your free mentoring call by clicking here!

 

Links:

https://twobrainbusiness.com/mentor-item/jeff-larsh/

https://tidal.training/

https://twobrainbusiness.com/should-you-open-a-second-location/

 

 

0:25 – Introduction with Jeff Larsh

2:42 – What should the motivation be to open an additional CrossFit Gym

4:11 – What would be the first step, to look into opening an additional location

5:26 – How to financially prepare for a second location

7:02 – Taking a hard look at your offerings and products before scaling

9:40 – Preparing the support structure required for a multi-location business

14:18 – Deciding on whether to purchase an additional location or start from scratch

17:06 – Financing a new location with other partners and managers

18:47 – Finalizing the offer and wrapping up the deal

20:19 – Breaking a new purchase or major change to current or new members

22:20 – Why only one additional location is not enough

28:18 – Two Brain Stories with Kim Moore

Episode 147: How To Sell Your Gym

Episode 147: How To Sell Your Gym

On this episode, we talk to Tammy Friedt. Tammy is one our amazing mentors here at TwoBrain, and she recently sold her business!

Selling a business or a gym is not an easy task and it takes a lot of patience in order to do it correctly. Today hear directly from someone who has lived through this process and gains some insight and tips into how it all happens. Learn about what needs to be done to prepare and sell a business, what documentation and legal advice you will need, and also we talk about what it feels like after it is all over!

 

Don’t Forget! Find out what stage of entrepreneurship you are in by taking the exclusive Two Brain test here: https://twobrainbusiness.com/test/or schedule your free mentoring call by clicking here!

 

Links:

https://twobrainbusiness.com/mentor-item/tammy-friedt/

 

Built to Sell – https://www.amazon.com/Built-Sell-Creating-Business-Without-ebook/dp/B004IYISQW

Rig Equipment Evaluation – https://rigquipment.com/

Download our FREE guide here: How to Sell A Gym

 

 

Timeline:

0:20 – Introduction to Selling Your Gym

2:01 – Tammy’s background and starting her CrossFit Gym

4:36 – What made Tammy sell her business earlier than planned?

6:31 – What is the first step in initiating the sale of your business?

8:15 – How to assess the value of your gym when planning to sell?

12:08 – Negotiating a selling price between the buyer and the seller

15:54 – Managing existing leases and existing contracts under your current business

19:22 – Divulging information regarding your employees and creating a non-compete agreement

21:20 – Approximately how long does it take to sell a CrossFit gym?

23:55 – Is leasing to own an option when selling or buying a business?

26:29 – The feeling you have when your business is finally sold.

33:21 – Two Brain Stories with John Miller

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Episode 146: 1099 or W2?

Episode 146: 1099 or W2?

Episode 147 – 1099 or W-2? With John Briggs of InciteTax

Recently, I have started to see a trend where gym owners are increasingly being audited by the IRS. Today we talk about such things as how to survive an IRS audit, Tax Planning for the New Year, and what exactly is a 1099 contractor
.

As the year draws to a close, now is the time to start thinking about closing out your books and taxes for the year. Additionally, John has also bought himself his own CrossFit gym and we check in to see how his new venture is going!

 

Don’t Forget! Find out what stage of entrepreneurship you are in by taking the exclusive Two Brain test here: https://twobrain.com/test/or schedule your free mentoring call by clicking here!

 

Links:

https://incitetax.com/

John@incitetax.com

https://www.linkedin.com/in/johnbriggscpa/

 

 

Timeline:

1:41 – John Briggs Introduction

2:19 – Why CrossFit gyms are being audited for having 1099 subcontractors

4:58 – What does a letter from the IRS look like?

7:17 – Is it possible to navigate an audit without expert help?

9:45 – The process of answering questions from the IRS

11:25 – How long does it typically take for an audit to occur

12:59 – Why it is better to communicate with an auditor rather than ignore them

14:28 – When should you start to look at preparing your tax return?

21:02 – Which tax structure is right for me business? What is an LLC?

23:03 – How does tax reform affect a CrossFit gym this coming year?

24:15 – John on becoming a CrossFit gym owner!

27:50 – How to contact John with Incite Tax

30:58 – Two Brain Stories with Brian Bender

 

 

 

 

 

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Episode 145: Greg Strauch Interviews Chris Cooper

Episode 145: Greg Strauch Interviews Chris Cooper

On this episode, we sit down with Chris Cooper, the founder of Two-Brain Business.

Nearly ten years ago, Chris ran into trouble with his first business–a CrossFit gym–and hired a mentor. He began feverishly writing down all the lessons he was learning and blogging them along his journey to help others. Hundreds of blog posts later, Chris launched his first book, Two Brain Business, which is now the bestselling fitness business book of all time! In 2016, he launched TwoBrainBusiness.com and began mentoring other gyms so they could experience the same success he had!

Today, TwoBrain spans the globe with a mentoring team of 21, over 480 gyms in the TwoBrain family, and a growing group of entrepreneurs who don’t own gyms.

Join us today as we go over how Chris started Two Brain Business, the next steps for Two Brain, and the future of the Two Brain Radio podcast!

 

Links:

https://twobrainbusiness.com/

https://www.facebook.com/twobrainbusiness/

https://twitter.com/twobraincoach

 

Timeline:

0:44 – The founding of Two Brain Business

6:32 – Growing Two Brain Business from this point forward

10:45 – How Two Brain is helping businesses outside of CrossFit

13:52 – Where are CrossFit Gyms ahead and where are they behind?

19:21 – How can business owners get a leg up within their business?

23:50 – Long-term planning of Two Brain Business

27:59 – Leveling up the Two Brain Content

32:51 – Two Brain Stories with Josh Crill

 

Find out what stage of entrepreneurship you are in by taking the exclusive Two Brain test here: https://twobrain.com/test/ or schedule your free mentoring call by clicking here!

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Episode 144: LinkedIn Ads, with AJ Wilcox

Episode 144: LinkedIn Ads, with AJ Wilcox

Episode 144– The LinkedIn Expert – AJ Wilcox

 

I’ve always been puzzled by LinkedIn.

On one hand, all of my ideal clients seem to be on there. LinkedIn is the social media for professionals, where you can identify high earners and find local entrepreneurs. And I think entrepreneurs are great CrossFit clients: they can afford it; they have a more open schedule; and they understand my rates and my hours.

On the other hand, LinkedIn doesn’t make it easy to advertise to these people. The news feed is a slow trickle, compared to Facebook’s torrent of cat pics and presidential memes.

 

AJ Wilcox has spent over $100M on LinkedIn Ads. His team manages the largest and most sophisticated accounts on LinkedIn worldwide. He says we have two choices: spend a minimum of $5000 per month on LinkedIn, OR spend nothing. In this episode, he shares the best practices for both strategies to get leads from the platform. 

 

AJ Wilcox has been an online marketer since 2007 and managed hundreds of Google Adwords, Facebook and LinkedIn campaigns. In 2014 he decided to venture out on his own and started B2Linked in an effort to spread the success he was experiencing on LinkedIn while advertising to other companies. Today AJ is a certified LinkedIn Ads Partner.

 

Join us today as we dive into how you can apply LinkedIn advertising to your CrossFit gym or business. According to AJ, a solid campaign should following the following steps:

 

A – Audience – You’ve got to be able to target your audience efficiently

M – Message – Figure Out what you want to say to your audience

O – Offer  – What are you going to say to get someone’s attention

 

Checkout AJ’s FREE eight point LinkedIn marketing checklist here: https://b2linked.com/checklist/

 

Links:

https://b2linked.com/

https://www.linkedin.com/in/wilcoxaj/

 

 

Timeline:

1:30 – Introduction to the LinkedIn Expert AJ Wilcox

3:28 – What is the difference between Facebook and LinkedIn Ads?

4:37 – Does LinkedIn contain the target audience for your gym?

5:33 – Spending over $100 Million Dollars on LinkedIn

6:47 – Getting started with LinkedIn Ads

9:32 – Why LinkedIn is more expensive than Facebook and other platforms?

11:09 – What can you do on LinkedIn with a small budget and just starting out?

14:36 – Obtaining new CrossFit clients using LinkedIn

16:28 – Small versus large audience targeting on LinkedIn

17:19 – Strategies for getting started on LinkedIn

18:30 – The biggest mistakes people make on LinkedIn

21:49 – How to approach business to consumer on LinkedIn

22:58 – Content that performs well on LinkedIn

25:21 – Will LinkedIn continue to grow in the future?

27:30 – How important is social proof on LinkedIn compared to other platforms

29:09 – One big success story from using LinkedIn

31:50 – TwoBrain stories with Brain Zimmerman

 

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