Episode 143: The Easiest $1000 You’ll Make This Year

Episode 143: The Easiest $1000 You’ll Make This Year

Episode 143– The Easiest Thousand Dollars You’ll Make This Year– Matt Albrizio

 

One of the most important things gym owners can do is to MAXIMIZE THEIR TIME. We all have so many options that it’s easy to get sucked into low-value tasks. One of those is designing shirts.

 

Sure, it feels fun to be creative and fool around with fonts and stuff, but unless your gym is already super profitable, and you’re totally retired, you DON’T HAVE TIME. If you add up the time you spend browsing designs on Google, asking advice on Facebook and then fooling around on Microsoft Paint (or whatever else you’re doing), and then paying someone to clean up your designs and digitize them, you’re probably losing money on retail!

 

I started using Forever Fierce nearly three years ago. I’m not buying t-shirts and hoodies: I’m buying a solution to my retail problem. That leaves me free to do the stuff that actually grows my business, instead of wasting time on the stuff I just mentioned.

 

We don’t sell ad space on this podcast. If you hear us talking about someone, there’s only one reason: we believe their service is great for Affiliates. We always use them ourselves.

 

On this episode, Greg interviews Matt Albrizio of Forever Fierce. Forever Fierce is a custom apparel company that is hyper focused on affiliate owners worldwide. We talk about apparel in the fourth quarter of 2018, the importance of having a theme, and what you should be looking to do in 2019! Additionally, Matt talks about how to make the easiest $1,000 dollars you have ever made. Seriously, you do not want to miss out on this.

 

Are you ready to get started with your hoodie order? Click Here: https://foreverfierce.com/pages/request-a-design

 

Want to learn more about an apparel plan? Click Here

https://foreverfierce.com/blogs/news/get-on-an-apparel-plan

 

 

Links:

https://foreverfierce.com/

matt@foreverfierce.com

https://www.instagram.com/frvrfrce/

https://twitter.com/frvrfrce

https://www.facebook.com/frvrfrce/

 

Timeline:

1:42 – Apparel and associating them with specific themes

3:23 – Why is now the time to start focusing on hoodies?

5:47 – Key elements of a good hoodie design?

9:25 – The most important components of staff retention

16:55 – CrossFit apparel going forward in 2019

22:54 – How to contact Forever Fierce

25:25 – Two Brain Stories with Greg Strauch

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Episode 142: The Three BIG Questions

Episode 142: The Three BIG Questions

Every few months on this podcast, I like to take a chance to answer the big questions within the CrossFit World. Usually, the answers to these questions are tactical: “Should I raise my rates?” or “Should I deaffiliate?”
But there are three BIG questions that I’ve been sitting on and rolling around for months. These questions have been coming up more and more: either through our Tinker program (for higher-level entrepreneurs) or through phone calls with CrossFit gym owners.

The first question is about entrepreneurial freedom; the second dives deep into human motivation and its ties to marketing; and the third is a question I last saw around 2010, but is making a comeback now.

 

1.    When should I pursue my big idea?

 

This question is most often asked by those who already have their own business but want to start a side project. After you make that jump and become an entrepreneur, many want to make a jump to an even bigger idea. The problem here is that many people’s own gym or own first business is still not running efficiently enough to allow for this jump. Should you wait to stabilize your main business first?

 

2.    Why don’t people stay after an eight week challenge?

 

When you bring a lot of people into your gym at once and you give them a fixed deadline, they generally do not stick around. The key here is to convert people along the way into long term customers. Having goal reviews and continually updating their “prescription” is key.

 

3.    Should I join a franchise instead of affiliating?

 

Many first time gym owners struggle with the decision to join a franchise or remain an independent affiliate. After taking such a big financial and emotional risk, not having a step by step roadmap can sometimes be scary but is joining a franchise really the best decision? The bottom line is that nobody has the exact roadmap to a successful gym.

Links:

 

https://zwift.com/

 

Timeline:

1:57 – Introduction to the Three Big Questions

4:52 – When is the right time to pursue your big idea?

12:15 – Why don’t people stick around after an eight week challenge?

24:25 – Should you join a franchise instead  of affiliating?

32:34 – Two Brain Stories – Jared Byczko

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Episode 141: The Founders’ Club, with Kaleda Connell

Episode 141: The Founders’ Club, with Kaleda Connell

Kaleda Connell has made it to Tinker Phase:

  • She makes more than enough money at her gym
  • She only does the work she wants
  • Her staff initiate programs and sell memberships
  • She owns her building
  • …and, as you’ll hear, she’s practically the mayor of her town. She even invites other entrepreneurs in to help THEM!

And she’s done it in UNDER THREE YEARS.

In a town of 2500 PEOPLE.

“Farmers, cows, my dog and me” is how she describes Seaforth, Ontario.

Kaleda got off to a roaring start: she had 80 people join her gym before she even opened. Without a single discount.

 

In this episode, Kaleda will lead host Greg Strauch through the process step by step:

What Kaleda was doing 3 months out to build curiosity

What she offered new members to sign up in advance

Why she bought a bunch of “cute little hard hats”

How Kaleda used the Founder’s Club strategy to be profitable from DAY ONE.

 

This interview is an incredible resource and step-by-step guide to opening a service business, not just a gym. Kaleda is finishing up her six-month Mentor Training with TwoBrain now…if you’re about to open a gym, you want to get on her schedule before December!

 

The TwoBrain Client Story is Joleen Bingham (and her husband, Leighton, in absentia.) Best quote: “If it wasn’t for TwoBrain, we wouldn’t have our third child.” What does she mean? Listen here to find out:

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Episode 140: The Business Premortem

Episode 140: The Business Premortem

It’s the Hallowe’en Spooktacular!

 

Not really–but it’s a fitting time to do a Business PreMortem. With the end of the year coming, I’m sure you’re booking calls with your mentor to set up your 2019 strategic plan. In the TwoBrain family, we start this process in November. If you’re not in the TwoBrain family yet, you can use this exercise to kickstart the process (a little fun before the spreadsheets!)

 

In this episode, I walk through a simple exercise to help you identify and prioritize your opportunities and threats. We’re going to pretend to look back on your “dead” business, because hindsight might be 20/20…but insight allows us to see into the future.

 

Question 1: What WAS your business?

If you’ve ever had to describe a loved one in three column inches or less, you know what it’s like to distill someone down to their essence. How would you want your business to be remembered? What WAS it, really, at its core–without branding or labels? What did it look like with its clothes off? What will it be remembered FOR?

Question 2: What killed it?

Let’s be really, really clear about your biggest problem. If you don’t KNOW what’s stunting your growth or slowly bleeding you dry, we can help. There are no leeches or bloodletting: just a careful, compassionate examination of your health. I shared a few myths that I still hear every single week.

This exercise should reveal your Achilles heel, and therefore your greatest priority for action.

Was it exhaustion? Complacency? Cash Flow? Coaches becoming competitors?

Maybe take a strong dose of medicine NOW to prevent the fatality later.

 

Question 3: What survived?

You’re training to be an entrepreneur. If your business goes bankrupt, you’ll have learned something really valuable…and you’ll continue to be an entrepreneur! No one can fire you from this job. You’ll keep many hard lessons learned, many transferable experiences, and maybe even some money.

I hang around with some very successful people. We’re a tight group. And many of us have the “clean slate” fantasy: the wish to start from scratch with what we know now.

What survived that shouldn’t? Did the plague continue to haunt your family after the body was gone? Maybe take steps to quarantine poisons now, too.

 

If you’re in the TwoBrain family, there’s a worksheet coming to help you. Fill it out and send it to your mentor ahead of your November call. Because on October 31, death ends, and gestation for 2019 begins!

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Episode 139: The 30-Day Conversation Challenge

Episode 139: The 30-Day Conversation Challenge

Episode 139 – The 30-Day Conversation Challenge, with Rob Connors

 

At Two Brain we teach three different types of marketing. We typically start with affinity marketing, or the people closest to your best clients and to you. Then we move on to organic digital which is performing the free function on social media platforms. Finally, we move on to paid digital which is paying for ads on various platforms. All of these are important, and we teach them in the Incubator. But above all, selling is what is required to grow your business.

 

One of the most important things we teach entrepreneurs to do is to go out and talk to other business owners around them to create connections and grow your business. Who knows, you may even be saving their life by getting them into the gym!

 

Today we are joined by Rob Connors. Rob and his wife Emily own Signum CrossFit and are fantastic Two Brainers. Rob and his wife Emily are great fitness coaches and they are great at connecting with people. Recently he was challenged by his mentor to get outside of his comfort zone and start connecting with others in his community. Join us as he talks about his experiences and how he has made so many important connections for his business.

 

 

Timeline:

2:23 – Introduction to Rob Connors

5:46 – The idea behind community outreach and making connections

12:50 – Who is the first person Rob picked to reach out to and what was the response?

13:54 – How to approach someone new regarding their business

15:30 – What is the worst response Rob has had when reaching out to other businesses

19:31 – What happens next after connecting with a business owner

23:30 – How to get started!

26:04 – How to be comfortable with asking friends and family to become a customer

29:02 – Two Brain Stories with Scott McAlee

 

 

 

 

 

 

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Episode 138: Will Hawthorne

Episode 138: Will Hawthorne

Last weekend in San Francisco, TwoBrain held its first Tinker Meetup.

 

Entrepreneurs who have complete financial and time freedom, and are seeking their next project, are called “Tinkers”. You can take the test to find out where you are in your entrepreneurial journey here.

 

One of our speakers was Will Hawthorne, an investor at Code Advisors.

 

Will is a partner in CodeAdvisors, an investment bank focusing on mergers and acquisitions. He’s negotiated deals for some of the biggest tech companies in the world…but he has a LOT to teach us about building a business worth selling. And that means a business worth owning, long-term.

 

Jay Williams is the interviewer on this episode. But anyone who pays attention to the TwoBrain message knows that we don’t believe in building businesses to sell. We want businesses that run themselves AND pay the owner long-term. We believe in building cash-flow assets.

 

Having a business that runs itself means you get the ultimate freedom: choice. You want to coach 2 hours every day? Perfect. Love it. Continue to serve.

Want to coach 5 hours every day? Wow. Plan for a time when that isn’t true, because that passion won’t carry you forever.

Want to coach 0 hours every day? No problem – after 22 years of coaching, I’m happy and comfortable in retirement–I enjoy going to my gym, being coached, and signing checks for ten minutes every second week.

 

But to get to the point of choice, you need to build a valuable platform. And Will is an expert on building extremely valuable platforms.

 

Great questions: “What’s the Halo Effect of your primary service?”

 

Great point: “CodeAdvisors doesn’t have a flashy website.” They’re known by what they’ve done, not by what they say they’re going to do. They’re chosen for many of the largest deals in history because of their reputation for success, not their marketing. Here’s their site. “People come and find us, and it resonates with the founders here.” Will only works with the top, and that means 20-24 companies at his door on a monthly basis. Out of those, he takes one.

 

“Public speaking is harder than negotiating,” he said, right after describing a $5B deal he worked on for Motorola.

 

“It’s almost never about the numbers, and always about emotion.” Truer words may never have been spoken about the buying and selling of gyms. He’s talking about Apple and Google purchases, but almost every CrossFit gym that’s ever been purchased yielded a higher price than its actual value. In many cases, the purchaser realizes too late that they’ve overpaid. Sometimes they realize they’re overpaying, because they’re buying the opportunity. And sometimes…they just love CrossFit.

 

“We raised $800 million for Twitter before they went public. We’ve raised over $500 million for Spotify.” He’s mostly working on AI deals right now. I include this note because the CrossFit industry has always been good at adopting new technologies ahead of other entrepreneurs, and we’re only going to have to get better.

 

“Most entrepreneurs are great at product, but not good at business. To build the product and sell it is a whole different skillset. The good ones realize they need a good operator next to them.” In the service industry, we commonly refer to the “owner-operator” model because there’s one founder, and that founder has to do both things. It’s the person who runs a great service but can’t run their business that really suffers.

 

“The people who don’t know their business COLD aren’t living their business every day. They’re not reviewing the metrics that matter.” he said. “If a CEO doesn’t know their numbers, that makes me very nervous.”

He gave the example of the CEO of JP Morgan reviewing 50 metrics every day. We think it’s important to know the big numbers really well instead of reviewing a lot of metrics every day. In the Founder Phase, we have entrepreneurs track 5 numbers. In Farmer Phase, we expand to 8 metrics. But we want you to know them extremely well, instead of trying to track 21 things with far less meaning really poorly.

 

“For gym owners, the most important metric is retention.”

 

“If you find someone that’s running a business they don’t like, or they aren’t excited about it, it’s not going to work out.”

 

“They have to be passionate about it. They have to be learning about their business.”

 

“When TJ teaches a class, there’s like 30 people there. There’s a huge difference because TJ loves his business.” He’s talking about TJ Belger of TJsgym.com. Will does CrossFit every day with TJ at 5:15am.

 

“If you’re desperate, people smell that.” If you’re running nonstop ads for cheap six-week challenges, or offering discounts or free trials, or pumping 30 new people in every month…what message is your audience receiving about the solidity of your business?

 

Will gave some very interesting ideas about earn-outs (where the management team and staff are paid 50% up front, and then the rest of the payment is made against retention and long-term sales.) I’ve seen this work well with one gym purchase in the Boston area in the past.

 

The second interesting idea was a client survey as part of the due diligence process. If the founder is really willing to sell, and the buyer is fully committed, then the last step should be to call the clients and gauge their commitment.

 

The first round of funding for any business should be a “friends and family round”–basically, the founder has to have some emotional attachment to success, or “skin in the game.” The bigger the founder’s commitment, the more likely the business is to be successful. This could be another reason why gyms that start in garages often have much greater success long-term.

 

Why does he do CrossFit?

“If I don’t do CrossFit, I’m a totally different person.”

 

 

 

 

 

 

 

 

 

 

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