1. EachPod

94: Where You Should Be Investing Today For Growth

Author
Tim Lyons and Randy Angsten
Published
Thu 13 Feb 2020
Episode Link
https://built-to-grow.simplecast.com/episodes/94-where-you-should-be-investing-today-for-growth-UM7yS8gu

In this episode, Tim and Randy will discuss the most common places gym owners invest their money hoping for a return. There is a widespread opinion among most gym owners and fitness coaches that certifications and educational qualifications are a necessity for attracting and retaining clients, but the reality is that clients don’t really care about that because they’re more focused on the experience and results they can from a gym.

Tim considers kettlebell, TRX, battle rope, and other certifications as a waste of time and money because even though they may make coaches more confident in their roles, when it comes to a gym’s bottom line, they’re actually an expense. Before investing in equipment, education, or anything else, a gym owner should consider whether that investment will actually move the needle of the business forward.

Tim and Randy are all for education for those gym owners and coaches who want to seek it, but they encourage more of an investment in business coaching programs or courses that are specific to a gym oriented area that someone is already involved in because that leads to an improvement in a person’s performance (in the case of a coach) and of course, enables a gym owner to grow their business.

They also encourage an investment in automation and will dive into the specific areas they feel gym owners should be investing their money and energy in order to see real growth and a real return on their investment. So if you’re a gym owner, this is one episode you won’t wanna miss.

Key Takeaways:

  • Clients never ask for certifications, and they’re just a waste of money (06:38)
  • The misalignment of thinking that getting a degree or master's degree means one must get more pay (10:17)
  • You learn more in the first year in the real world than you do in four years of school because it's applicable (12:17)
  • If you're not serious about growing a business, get the hell out (15:06)
  • Get out of your own damn way and do what it takes to see the reward (18:43)
  • Control the controllables, execute your plan, and take action (21:05)
  • The cash flow conundrum and how it makes people fail in achieving their dreams (24:47)

Additional Resources:

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If you are interested in a free audit for your gym, visit http://bit.ly/free_gym_audit

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You can find out more about Tim and the strategies covered in this episode by checking out our website.

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Would you rather watch the video version instead?

Head over to our YouTube channel to watch this episode by going here

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If you don’t already have my book, get your copy FREE here.

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Connect with Randy:

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