Your business has two parts: operations and audience.
Operations is the service you provide.
Audience is the people who trade that service for money.
Your value is measured by how they work together.
Each is a multiplier of the other: if your service is excellent, you’ll make more money. And if your audience is larger, you’ll sell more of your service.
On the other hand, if your service isn’t as great as you think, your audience will shrink. And if you have an amazing idea that no one’s heard about yet, you don’t have a business.
In this series, I’m going to tell you how to maximize both sides of your business. First, we’re going to talk about how to deliver with true excellence—and how to measure that excellence. Then I’m going to tell you how to build an audience—the right kind, not just a bunch of cold Facebook leads.
What’s the benefit to you? Well, most gyms have to replace their clients every seven months. That means they’re spending a lot of time marketing, chasing, cold calling—doing the hard stuff they didn’t really sign up for. And most gyms are also charging too little or selling the wrong thing to the clients they get. That leads them on a downward spiral of high churn and declining profit.
I want you to have the opposite result:
- To need less marketing over time, not more.
- To attract better and better clients who value your service more and more over time.
- To constantly audit your processes and pricing and earn more in less time.
The Key Metric
We’ll track your progress using a metric called “lifetime value” (LTV). This is simply the total value you receive from a client. But even more important is the value they receive from you: A client who receives more 1:1 coaching on fitness and nutrition and stays around longer should receive far more value from you.
Improving both sides of your business is great for you. More importantly, it’s great for your client.
That’s why I call our mentorship practice “Two-Brain Business”: just like your brain, the two parts of your business have to work together.
Other Media in This Series
“8 Steps to Excellent Operations for Gym Owners”
“6 Steps to Build an Audience and Sell More”