Show Notes
00:00 Introduction and Episode Overview
00:27 The Challenges of Business Ownership
02:13 The Importance of Risk, Effort, and Consistency
03:51 Real-Life Example: The Young Business Owner
04:44 Choosing the Right Path: Business Owner vs. Employee
05:40 Earning the Benefits of Business Ownership
07:36 The Owner Operating System
08:26 Conclusion and Special Offer
Full Transcript
Hey, Pat Rigsby here and in today’s episode I want to share an observation about why people don’t improve. Let’s get to it.
Welcome to the Fitness Business School podcast, the show for fitness business owners who want to grow their income, increase their impact and improve their lifestyle. Be sure to listen to the end of this episode because we have a brand new special offer exclusive for listeners. So stay tuned.
So I was having a conversation with Holly this morning before I started recording podcasts, and we were talking about A, couple of interactions she had with clients and some of the things that they were bogged down with. And, occasionally even clients that we love working with, they’ll almost want to hand off the responsibility of owning their business.
They don’t want to take the responsibility for making challenging decisions. They don’t want to sometimes make choices because there’s that fear of if this Failed. That’s an indictment against me. But if somebody else chooses, then I’m not really the one at fault. And I think there’s a lot of that in the business world, right?
There’s a lot of that in the small business ownership world there. It’s. Unfamiliar territory for a lot of people. I think that most small business owners, when they open their business, they are woefully unprepared. And that’s not really a slight against them by any stretch. Considering I was woefully unprepared as a business owner.
I didn’t know anything about starting a business and. Learn as you go. And I don’t think that’s great, but it’s the reality of the landscape that a lot of us operate in is we get into this and some of it is well beyond anything that we would have expected in good ways. And some of us will be on anything we would have expected, maybe not so good ways and what I have found with people who struggle.
Is they sign on to be a business owner and they lose sight of what actually being a business owner entails. And I shared with Holly earlier that a lot of people want that. The benefit of risk and effort and consistency, which I think are hallmarks of business ownership, right? You’re taking the risk and accepting the responsibility of things being on your shoulders.
And no guaranteed paycheck, no security, nobody funding your 401k or pension. You’re basically saying I am going to be the one that all this responsibility fall falls on the shoulders of. And so there’s certainly a great deal of risk in that. And you also are the person who has to lead. With all the effort now over time, you get to hopefully leverage the effort of others as well to grow and expand and build a better business that isn’t entirely reliant on you, but still you’re the leader.
And so you’re the one who sets the tone for everything. And so a lot of people want all those benefits of effort and they want the benefits of consistency, even when they’re inconsistent. So all the. There are lots of business owners who want the benefits of risk, effort and consistency, but they don’t actually want to take the risk, make the effort or be consistent.
I remember, man, years and years ago, we had a business coaching client and I really enjoyed him a great deal. He was smart and young and opened up a business and then. I’m talking in less than a month, took a two week, two week vacation after opening the business. And I’m like, man, he’s probably not going to make it because he’s not in a position where his business is, it has a strong enough foundation.
It’s not on solid enough footing to go and do this, but he didn’t want. To make the level of effort or have the degree of consistency needed to build a great business. And within a year he had moved on and taken a different job that had some security involved and certainly had a lot more flexibility and freedom.
And that was a better fit for him. And I’m not even going to suggest for a minute, it’s a bad idea to change. Some of the people I’m closest to in this world are people who work for other people. And I don’t think that. Even though this is a business owner podcast, I don’t think that there’s a thing wrong with being an employee.
I think that you have to pick the right lane for you. And the, just like small business ownership. Really makes a difference in our economy and makes create such opportunity. And for people make no mistake without employees, this whole thing doesn’t work. But I think a lot of times business owners want all the benefits of ownership while they want the risk, the effort and the consistency, maybe more associated with being an employee.
So if you want to have. All these things, you have to earn these things, right? If you want a substantial multiple six figure income, if you want long term financial security, if you want a better lifestyle with more flexibility or freedom, if you want to work with a certain type of client, it’s on you, right?
As a business owner, you have to say, okay, I’m going to be the person who shows up with a really meaningful ever level of effort and great consistency. And I’m the one who’s going to take the risk for a lot of this stuff and do some of the things that are maybe out of my comfort zone and maybe test the waters of the unknown from time to time and try new things.
And you can’t. Have it like you can’t have all these benefits without that. And sure you, I’m sure you could scour the internet and find exceptions, right? You can find the people that didn’t take all that much risk and didn’t put in all that much effort and the world just fell at their doorstep, everything they wanted.
They got, but I am probably a little more pragmatic and think that’s the needle in the haystack. But we’re mostly not going to find the needle. Like we want to base our expectations about like around reality. And the reality is small business ownership isn’t easy and it doesn’t have to be as hard as some people make it.
But that doesn’t mean that you don’t have to put in effort and be consistent. That doesn’t mean it comes without risk. So if you want all the winnings that are associated with that, Then you’re going to have to own the responsibilities associated with the two. So the truth of this is really wrapped up in what we’ve been teaching very regularly with clients as of late, this owner operating system, being a successful owner in this industry, maybe even a great owner in this industry is not all that complicated, but it probably requires doing some things that prevent a lot of people from being successful.
If you’ve been stuck, if you’ve been stagnant, if you’ve maybe not got the results you wanted, instead of saying, okay, it’s my ads that are struggling. It’s my, that’s my website that needs updated. Maybe. The best thing to do is look in the mirror and saying, okay, what can I change about the way that I’m personally operating? If I want to have better business.
Thanks for listening to this episode of The Fitness Business School.
Before you go, I have a quick announcement:
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In this diagnostic, we walk through everything and we do an evaluation and can instantly pinpoint what you need to do next to build that business that you want. I’m going to extend this opportunity to get on with either me or my team and take you through this evaluation and fix your business’s most vital needs fast.
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Again, an email to [email protected] with diagnostic in the subject line will get
you scheduled and take you through this evaluation to help you build the business you want.