Episode 55 – The Path to Profit On today’s show, I replay a webinar entitled “The Path to Profit”. CrossFit gyms are doing great at keeping people healthy and fit but not that great at pursuing excellence in business. Many times they are martyring themselves -- admirable in the short term but not in the long term. Owning a gym requires a long view and a pursuit of excellence in business. This is not about buying yachts but about being around for years to come. In order to make this happen, it is necessary to get on the path to profit. This is an interactive webinar so be sure to grab a pen and paper to take notes along the way! 

In this episode: 

• My Gym's Backstory 
• How to get on the Path to Profit 
• How to determine the amount of clients you need 
• Why are gyms not more successful 
• How to implement the Prescriptive Model 
• Plus: An interactive goal setting exercise 
• The step by step math to making a profit 
• How to retire as a gym owner 
• Question and answer session 

Goal Setting Exercise Questions 

What do you want to make in 2017? What are you going to learn in 2017? Where will you travel in 2017? What needs to be upgraded in your in 2017? How will you help other people in 2017? 

Timeline: 0:18 - Path to Profit Introduction 
1:28 - Start of Path to Profit Webinar 
3:10 - Learn about Chris Cooper’s Backstory 
6:26 - The Underpants Gnomes 
8:11 - Fitness vs. Business model and how to balance 
9:02 - The basis of making a profit is consistency 
11:45 - How to have a dedication to service 
13:59 - Grab your pen and paper for a goal setting exercise 
20:10 - Do we have to modify profit goals for emotional goals? 
22:00 - The step by step math to making a profit 
24:09 - Practical ways to build multiple revenue streams 
26:21 - Dunbar’s number or the maximum relationships you can retain 
27:48 - Unlikely sources for diversifying revenue streams 
29:07 - How to determine the amount of clients you need 
30:30 - Focus on the easiest goals first 
32:06 - Moving from low value goals to high value goals 
36:25 - How to implement the prescriptive model and become an authority 
40:05 - How the heck do you retire from being an affiliate owner? 
41:20 - Why you should focus on the top 10% of potential clientele 
43:42 - The REAL Reason gyms aren't successful 
46:26 - Q+A TwoBrain mentoring clients get the full webinar with slides and downloads, as well as two more in December!