By David Allen, Certified Two-Brain Business Mentor
On Aug. 14, 1994, at the age of 9, I watched Michael Jordan play baseball for the Birmingham Barons against the Memphis Chicks.
And you know what? He was a pretty good baseball player.
Being a pretty good baseball player isn’t what Michael Jordan is known for, though, and it isn’t what helped him become a billionaire.
When I first joined Two-Brain, I was a pretty good gym owner. Professional mentorship combined with Two-Brain’s data-backed best practices helped me become a great gym owner and allowed me to join the Tinker Program with other great business owners.
Guess what happens when you’re around other successful people? You succeed as well!
Do you know what the consequence of success is?
It’s more opportunities—and with those opportunities come distraction.
Focus for the Win
The consequence of building a successful gym is more income and more time. When you combine these two resources with the constant input of other successful people, you get opportunity overload.
Without prior knowledge or experience, you’ll be tempted to jump on every new opportunity that pops up.
“Crypto? I’m in!”
“Airbnb? Sign me up!”
“New business venture? Let’s do it!”
Michael Jordan was the best at basketball, but that didn’t mean his skill set transferred over to another sport. Once you reach the Tinker level of gym ownership, you’re in the top 10 percent of gym owners worldwide. But buying your first Airbnb puts you in the bottom 10 percent of Airbnb investors.
The experience, knowledge, connections and resources you develop to build a successful gym are unique to this specific domain. Sure, there is some carryover (again, Michael was a pretty good baseball player), but once you’ve figured out how to be in the top 10 percent of something, why change course? Why stop winning championships to go live the hard-knock life again?
The Two-Brain model is simple: Build a 150-member gym with an average monthly revenue per member (ARM) of $200-$250. Maintain a 30 percent profit margin. Make $100,000 per year in net owner benefit.
It’s not always easy to travel this path, but the road has been paved and clearly marked—and a mentor can guide you. And, if you’ve done it once, you know what it takes to make the journey again.
Making $100,000 a year through Airbnbs is also achievable. It just takes a much larger financial investment, and it’s a path you haven’t been down before.
Does this mean you shouldn’t invest the money you’ve earned or try out new ventures? Absolutely not. It just means you need to have awareness and make educated decisions based on past experiences and the wisdom of others. My preferred strategy? Find others who are in the top 10 percent of what they do and invest in them. They’ve already figured out the best practices and have learned the lessons that I don’t know yet.
Ask yourself these questions:
- What are you passionate about?
- What area do you have unique knowledge in?
- What unique skills do you possess?
- Where is the bulk of your experience?
- What resources have you collected?
These are your core competencies—the areas where you are uniquely set up for success. This is where you are in the top 10 percent. And this where you’ll produce the best results.