There’s treasure everywhere!
As you make more connections, more opportunities present themselves. With the “Help First” mindset, you’ll constantly find new ideas…but you can’t do all of them.
Most gym owners who book free consultations with us have PLENTY of ideas. The problem is a lack of time…and they’re trying to do five things at once, which means nothing is getting done.
Here’s how to stay focused on ONE goal at a time.
1. Get a mentor. I brought this question to one of my own last night. Most of this advice is his. If you want to hear more from Dan Martell, click here.
All of my success has come while under the tutelage and focused guidance of a mentor. Seriously. It’s important. That’s why I do it for gym owners.
2. Set annual goals. Break those goals into monthly targets. Break the monthly targets down by revenue stream. Now you have Point B. Everything that doesn’t move you closer to Point B in a measurable way should be discarded from your daily business.
3. Calculate the value of your time. If you want to make $1,000,000 next year, you need to spend 2000 hours doing $500-per-hour work. You do NOT have extra hours. You can NOT be doing $15-per-hour work.
If you want to make $100,000 next year, every hour of work must be worth at least $50. No one is paying you $50 to scroll through your Facebook feed. Or to work out, for that matter. Are you doing 40 hours of $50-per-hour work – NET – every week? What about that “class” of two people you’re running at 10am?
4. Know that “adding another thing from your cognitive overhead takes you away from your real goal.” That’s straight from Martell. Coach Ty talks about cognitive load in our UpCoach program (there’s a reason your clients are distracted in class!) but here’s the gist: You do NOT have unlimited bandwidth or focus. Every second you spend working on a task that doesn’t directly affect your goal adds steps to achieving your goal.
5. Most “side hustles” are really a mental “Plan B”. People start printing T-shirts in their gym because they don’t trust their ability to succeed at Plan A. If your net on shirts is $5 per shirt, and you have to invest $1000 in a heat press and 20 hours in design…isn’t it better to spend that time on Goal Reviews with members?
Martell: “People do this stuff because they don’t trust that their primary thing is going to be awesome. They lack trust in their own ability to execute on Plan A.”
6. Put it on your 2018 list. Write it down on a special “get to it next year” whiteboard. That way, you’re not trying to remember every opportunity, and you’re not turning exciting stuff down. You’re just saying, “Later.” It helps clear the junk out and focus on your current goals.
7. Measure the potential ROI of your primary activity, and compare everything else against that.
A dollar invested in Catalyst in 2005 would be worth about $22 now. Why would I put that dollar in a mutual fund with a 7% return when I could make a 220% return by investing in myself?
Time works the same way: why invest in “side projects” when your CORE business – fitness – can deliver SO much more?
You can do everything you want; you just can’t do it all right NOW.
If you believe 100% that your best ROI is going to be in your primary business, why would you invest time or money into anything else?
Here’s the good news: your gym CAN be profitable (wildly so.) If it’s not, something is wrong. That’s what mentorship means: an objective third eye floating above the business, looking for problems and guiding your focus.
I have a mentor. My mentors have mentors. Every successful business person knows they can save years and millions of dollars by NOT trying to “figure it out” as they go.
We specialize in the fitness industry. That’s OUR focus.