Are you a health professional entrepreneur?
If so, maybe you can relate to this.
I remember it like it was yesterday.
I had just opened my MediCorp Nutrition & Lifestyle business in Newport Beach, California (1991).
There was so much to do.
I was drowning in constant overwhelm.
To manage it, I made massive “to do” lists.
I took pride in crossing completed tasks off my list.
I was rockin’ hard and was the “poster child” of Get Sh_t Done!
It’s amazing how much a person can accomplish running on fear and adrenaline.
But, then… one day it hit me like a ton of bricks…
“Yes,” I thought. “I’m getting a ton of stuff done… but, my business is flat.”
And, by this time, life was catching up. I was burning out.
The Road to….
There’s an old saying: “The road to failure is paved with good intentions.”
I was definitely traveling down THAT road.
I literally had to stop what I was doing and come up for air.
As much as I hated to admit it…. my situation was beginning to feel hopeless.
At night I’d lie awake processing my plight with all kinds of anxiety.
I simply didn’t understand it. I was doing EVERYTHING by the BOOK.
“Why the hell am I not successful…?”
Luckily, I was introduced to a mentor/consultant named Jim Spaulding.
The Instant Turnaround
After listening to “my take” about my business situation, here’s what Jim said to me at our very first meeting…
“Art, you’re an entrepreneur not a big business. The rules are totally different for you.”
[point of reference]: This was back in the early 90’s when entrepreneurship was frowned upon — almost a dirty word!
Jim went on to explain that the business books and newsletters I read were NOT meant for entrepreneurs.
They were written for businesses with staff, employees, departments, etc. (no wonder I was so tired)!
Super Important Lessons to Share…
Under his guidance, within 6 months my business totally turned around and flourished.
And, over time, it has morphed and steadily grown using the same principles.
The lessons Jim taught me almost 30 years ago are even MORE IMPORTANT today than back then.
So, if you’re a health professional and an entrepreneur, I want to share them with you.
The ENTREPRENEURIAL Mindset…
The biggest thing Jim taught me was how different the PHYSICAL WORLD becomes when your MENTAL WORLD adopts a new mindset.
When you re-frame the way you perceive things… like your responsibilities and tasks as a one-person entrepreneurial business owner!
In my case, I suffered the “Entrepreneur’s Curse” of thinking I needed to do everything myself (or it wouldn’t be done right.)
Almost ALL health and fitness business entrepreneurs suffer this curse. It’s a constant battle.
Plant 3 Seeds to Crack the Code
Here are the 3 MOST IMPORTANT things entrepreneurs need to learn… in order to “crack the code” and make their businesses successful.
1.) LEARN HOW TO DELEGATE:
As mentioned above, the first and foremost thing most entrepreneurs need to do is eliminate the “ENTREPRENEUR’S CURSE.”
Yes, as an entrepreneur you’re able to “multi-task” like crazy.
But, should ALL those tasks be handled by YOU?
Today in the “gig economy” it’s super important to off-load certain responsibilities and tasks to freelancers and/or a part-timers or to automation.
I won’t detail which specific tasks. That’s for a different post.
But, the GOAL is to LIST everything you do and PRIORITIZE in terms of importance — and determine if it can be outsourced.
The highest priority, for YOU, ALWAYS —> is servicing your CLIENTS.
Your CLIENTS take precedence over all other activities. So, start there and work your way down the list.
2.) LEARN HOW TO BUILD PASSIVE INCOME:
In 1991, I didn’t even know what “passive income” was.
In case you’re in the same place, here’s what that means…
Passive income is when your business generates revenue WITHOUT LABOR costs (in other words, without YOU being involved).
Passive income streams are absolutely crucial for service-based businesses where you sell your time.
Even 30 years ago, I had to learn how to build several streams of passive income including apparel, supplements, books, CDs, audio tapes, video tapes, etc., and a referral commission structure with personal trainers to whom we referred clients.
It paid off BIG TIME. At the end of every month, all of those little streams of income added-up to a BIG NUMBER – $$$
Today, every single health and fitness professional should be working on developing numerous streams of passive income.
Those who ONLY sell services such as 1:1 or group training are headed for trouble. Remember that road paved with “good intentions?”
Many of our health professional partners are generating an extra $1,000 to $3,000 per month of passive income with their own lines of branded supplements.
Andrew Dickenson, has generated over $127,000 of passive income over the past 4 years using ONBOARD-101
Plus, today, there are thousands of web-based AFFILIATE PROGRAMS that can generate hundreds of dollars every month — on auto-pilot.
And, finally, you can video record your own fitness workouts, your own cooking course or other niche specialties and sell them as “MEMBER ONLY” courses or workouts.
PASSIVE INCOME is a MUST DO in our hyper-competitive space.
3.) LEARN HOW TO “LEARN”
In my experience, there are two types of business owners:
- The Know-It-Alls
- The Learners
This might be the very best piece of advice. “Always be a learner.”
To provide context in just one area, here’s the technology evolution I’ve learned over my career:
- Fax machines
- Apple and PC computers
- Walkman / iPod
- Mobile devices
- Web-based Applications (hundreds)
And, even now, I’m learning about the integration of artificial intelligence (AI) with “wearables.”
Do you see what I mean?
Running a business… and life, actually… is a continuous LEARNING ADVENTURE.
Today, more than ever, in the fitness business, there is no “off-season.”
No one can coast or become complacent with his or her current knowledge base.
Turn LEARNING into a professional business lifestyle.
There is no shortage of experts, classes, workshops, masterminds and seminars available to you.
I attend at least one seminar, workshop or mastermind every quarter. I always learn something. And, sometimes, it’s life-changing!
CRACK THE CODE: ACHIEVE YOUR DREAMS….
It’s not lost on me that what I’m recommending is a HUGE INVESTMENT.
Yes, an INVESTMENT of money, time, emotion, effort and a host of other things you “think” you can NOT afford.
Hopefully, that “mindset” will evolve. But, rest assured, you’re not alone.
For now… it’s more important to plant these “3 seeds” in your brain.
1.) Learn how to delegate and outsource
2.) Learn how to develop multiple streams of passive income
3.) Learn how to become a “learner” by consistently investing in your BUSINESS education
Pencil it out and apply it to your business. Re-frame how you look at things… and I guarantee you’ll CRACK THE CODE toward YOUR OWN SUCCESS!
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