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- Mar 17, 2021
- 9
- 18
Hi Guys
Just joined and wanted to take a sec to introduce myself. I am really eager to learn from the community and eventually contribute to it as well. I finished TMFL a few weeks ago and wow what a read. I have been enrolled in an Ecommerce course that specialize in Amazon FBA and the coach suggests MJ's book in the course. Since reading it I've been suggesting it to everyone I see, friends, family, even the workers at my local coffee shop lol. Anyway I have been seeking a road to the freedom lifestyle for quite some time now. I've tried a few MLM ventures and other things to no success. A few years ago I jumped on an opportunity to invest in the company I worked for. I am a fitness trainer working for at the time a very successful fitness company. We had 2 locations that cater to an women only clientele and was the only player in town. The classes were always busy and everyone knew us and what we did. The owner/operator was looking to expand and take on another unit and implement a new program which would be a new revenue stream. By this time I had been working there for about 18 months and I had quickly became the head trainer and the go to guy that all the clients trust as well as the owner. So when the time came to invest I blindly invested all my lifesaving into the company which at the time seem like a no-brainer to me. Remember I hadn't read TMFL yet, this 2014 btw, anyway I did look at the company's books but because I was financially illiterate I really didn't understand what I was looking at. To me it look like every year he was making a profit and growing revenue, which he was. That wasn't the problem, my mistake was like MJ writes in the book, I didn't get to know who I was really marrying here in this business partnership. The owner is a good guy and has great passion and great knowledge of the industry but he fails in managing people and creating structure in order to grow. He's more of an visionary than a business person. After a few years of losing good ppl (staff) that we could have grown the business through as well as the companies obsession with the competition, we began our race to the bottom so to speak in terms of a price war. Our fear of competition and the threat of losing clients had took over and we became the bargain boot camp gym that depended on volume training to keep up alive. Over the years we had set a culture for deals and discounts to keep revenue coming in. We had went from $750k in sales (2014) to 1.1 million in sales (2019) so it wasn't like we weren't doing well, but the spending on unnecessary bells and whistles and program software, over priced videos from marketing somehow had us in the red. We were rolling like we made 1.5 mill in sales and our bookkeeper who also invested forewarned us that we are running thin. In the winter of 2020, the owner decided to put the business up for sale and just pay us out as he was beginning to burnout. No word of a lie but in end of January 2020 we found potential buyers who were very serious about purchasing the gym and everything was lining up to go through by April 2020. Well I think you all know how the rest of the story goes. Covid hit, the buyers ran for the hills and 12 months later we are down to one location and stringing on the hope that we get going again. Well at least they are, I however have took this turbulent year to re-invent myself. I have started my own strength and conditioning business training young athletes. I have actually been doing it on the side for a few years now with just a few kids every summer but this Global event gave me the kick in the a$$ I needed to go on my own. I'm currently making more money a week on my own than when I was full time at the gym and nearly have the time. I invested in the Ecommerce course back in Sept 2019 and this extra time off has allowed me to really get into the course and I about to launch my first product in the spring. I have also took this time to get back into reading which is probably the best thing that has happen so far. It has awake entrepreneurial spirit and has put in the path to meet all of you wonderful ppl. I am really looking forward to learning and sharing and growing together and connecting with likeminded individuals. Thanks for taking the time to reading my long a$$ post, I'll sign off by saying that sometimes life serves you chicken shit and I'm just trying to make it into the best chicken salad that I can.
Thanks guys and be well
Just joined and wanted to take a sec to introduce myself. I am really eager to learn from the community and eventually contribute to it as well. I finished TMFL a few weeks ago and wow what a read. I have been enrolled in an Ecommerce course that specialize in Amazon FBA and the coach suggests MJ's book in the course. Since reading it I've been suggesting it to everyone I see, friends, family, even the workers at my local coffee shop lol. Anyway I have been seeking a road to the freedom lifestyle for quite some time now. I've tried a few MLM ventures and other things to no success. A few years ago I jumped on an opportunity to invest in the company I worked for. I am a fitness trainer working for at the time a very successful fitness company. We had 2 locations that cater to an women only clientele and was the only player in town. The classes were always busy and everyone knew us and what we did. The owner/operator was looking to expand and take on another unit and implement a new program which would be a new revenue stream. By this time I had been working there for about 18 months and I had quickly became the head trainer and the go to guy that all the clients trust as well as the owner. So when the time came to invest I blindly invested all my lifesaving into the company which at the time seem like a no-brainer to me. Remember I hadn't read TMFL yet, this 2014 btw, anyway I did look at the company's books but because I was financially illiterate I really didn't understand what I was looking at. To me it look like every year he was making a profit and growing revenue, which he was. That wasn't the problem, my mistake was like MJ writes in the book, I didn't get to know who I was really marrying here in this business partnership. The owner is a good guy and has great passion and great knowledge of the industry but he fails in managing people and creating structure in order to grow. He's more of an visionary than a business person. After a few years of losing good ppl (staff) that we could have grown the business through as well as the companies obsession with the competition, we began our race to the bottom so to speak in terms of a price war. Our fear of competition and the threat of losing clients had took over and we became the bargain boot camp gym that depended on volume training to keep up alive. Over the years we had set a culture for deals and discounts to keep revenue coming in. We had went from $750k in sales (2014) to 1.1 million in sales (2019) so it wasn't like we weren't doing well, but the spending on unnecessary bells and whistles and program software, over priced videos from marketing somehow had us in the red. We were rolling like we made 1.5 mill in sales and our bookkeeper who also invested forewarned us that we are running thin. In the winter of 2020, the owner decided to put the business up for sale and just pay us out as he was beginning to burnout. No word of a lie but in end of January 2020 we found potential buyers who were very serious about purchasing the gym and everything was lining up to go through by April 2020. Well I think you all know how the rest of the story goes. Covid hit, the buyers ran for the hills and 12 months later we are down to one location and stringing on the hope that we get going again. Well at least they are, I however have took this turbulent year to re-invent myself. I have started my own strength and conditioning business training young athletes. I have actually been doing it on the side for a few years now with just a few kids every summer but this Global event gave me the kick in the a$$ I needed to go on my own. I'm currently making more money a week on my own than when I was full time at the gym and nearly have the time. I invested in the Ecommerce course back in Sept 2019 and this extra time off has allowed me to really get into the course and I about to launch my first product in the spring. I have also took this time to get back into reading which is probably the best thing that has happen so far. It has awake entrepreneurial spirit and has put in the path to meet all of you wonderful ppl. I am really looking forward to learning and sharing and growing together and connecting with likeminded individuals. Thanks for taking the time to reading my long a$$ post, I'll sign off by saying that sometimes life serves you chicken shit and I'm just trying to make it into the best chicken salad that I can.
Thanks guys and be well
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