Author: Mica Esteve

Why You Need to Disrupt the Market to Grow Your Fitness Business

If you’re looking to start a business in the fitness industry, you first need to ask yourself, “What are they currently doing that isn’t working, and how can I improve it?”

You need to find an opportunity to disrupt the market and stand apart from the competition to make yourself profitable and successful.

So, what exactly does “disrupting the market” mean?

How Uber Disrupted the Taxi Business

Well, let’s take a look at Uber. They found a problem in the taxi service business, and figured out a way to improve it.

Uber saw how unsatisfactory, and frankly disgusting, a taxi ride could be. The cab smells, the driver is rude, the seats are mysteriously wet and sticky.

If you think about it, you’re getting in the car with a total stranger – you don’t know their name, what kind of driver they are, no way to see other people’s’ experiences with this driver…it sounds like some pretty risky business.

Uber realized, “hey, there’s people out there who have the time and clean automobiles to drive people around and earn some money doing it.”

Then they tied everything together through an easy to use app that gives you information about the driver so you know whose car you’re getting into, and what other people have to say about their riding experience. And, payment is through the app so there’s no sketchy transfer of money.

These guys thought of everything!

Uber saw their opportunity to give people a faster, safer, cleaner, and more convenient way to travel in their community – and they did it.

How You Can Provide a Higher Level of Service

You don’t even need to be at Uber status in your  business to be an innovative thinker.

You can disrupt the market right now just by zeroing in on something in your industry that you think you can do better.

There are many ways you can provide a higher level of service to your clients that will make them think “Wow, those other guys aren’t doing this. These guys are awesome!”

A great example I like to look at is how Tesla brought innovation and technology to the automobile market.

For years, big auto companies have been saying “we make electric cars, this is how they work, and this is what you can expect from them.”

The bar for electric cars was set pretty low. Then, Elon Musk comes galloping in on his white horse with Tesla.

He thought, “What if I can bring in an electric car that can go 300, 400, 500 miles to a charge, with outlasting quality”.

 Elon Musk saw the void that needed to be filled in the automotive industry and he took his opportunity for improvement. 

Find something in the market that you want to make better and do it.

How Crossfit Made Their Own Community

So to define disrupting the market, it’s when you identify what’s not working in a marketplace, and you find a way to make it better.

Let’s look at another innovative approach a widely successful brand took to stand out – Crossfit.

They saw that these big box gyms weren’t offering any kind of powerlifting or olympic lifting platforms.

So they created their own gym that was specifically focused on powerlifting to fit those needs of people in the community.

It’s funny, sometimes I’ll hear people say, “uh, Bedros isn’t that your competition? Shouldn’t you not be talking about Crossfit?”

Listen, Crossfit isn’t my competition. My competition is McDonald’s, Coca-Cola, Carl’s Jr., and all those fast food, artery clogging businesses that pile on the pounds and create the unhealthy lives that I come in to fix.

The Big Problem With Boot Camps

As a personal trainer, I saw that the glaring problem with these fitness boot camps is that they’re not weather proof.

When you’re having your sessions outside, there’s no shelter against the changing weather conditions. No one’s gonna want to show up if it’s snowing or raining outside.

And even with the beautiful sunny weather, think of all the hazards you have when you’re running a session in the park: people can trip on tree roots, sprinklers, get bitten up by bugs, have limited or no access to equipment, whatever the case is.

I knew I could improve the boot camp experience – so I put my entrepreneur hat on and went to work.

How Fit Body Boot Camp Changed the Fitness Game

In my case, I disrupted the fitness market with Fit Body Boot Camp.

I did this in two ways: bringing boot camp sessions indoors, and building a community.

I saw that bootcamps had the potential to grow, if they were more structured and focused on creating a high-quality experience on top of delivering outstanding results.

I thought, “Gee, if we could run these sessions in an enclosed space where people could show up rain or shine and use minimal, effective equipment, we could get a lot more clients. Even better, we could set ourselves apart with our distinctive blue flooring that immediately makes prospects think hey, this place isn’t like that other gym.

So I brought the bootcamp sessions inside, set up minimal equipment that would deliver maximum results, and Fit Body Boot Camp was born.

Today, we’re on the Inc 5000’s list of fastest growing businesses because we saw an opportunity for innovation, and we expanded upon it.

The second way I disrupted the market was by building a community among others with the same goal in mind: to live healthier, happier lives.

When you go to a big box gym, no one really cares that you’re there. You go in, do your workout, and leave. No one’s there encouraging you and motivating you to keep pushing.

That’s fine for people like you and I who already love the gym, but for people who find gyms intimidating, that doesn’t help. If anything, it’s the non-gym-regulars who need our help most, right?

At Fit Body Boot Camp, we’ve built a community and a family. Our coaches care about your progress, and they want you to reach your goals.

That’s what makes us stand out from big box gyms.

Sure, you can sign up for a membership for $10 a month and do your own workouts. You could even go on YouTube and look up some exercises and do them at home.

But what you can’t get when you go that route is community, and face to face encouragement.

That’s what keeps people coming to Fit Body Boot Camp.

If you want to listen to Craig and I cover all of this and more in our Empire Podcast show,  check us out here. 

Committed to your success,

Bedros

How to Choose the Right Partner to Maximize Your Business

Maybe you’re at a point right now where you’re looking at getting into a partnership with someone who’s going to build your business to success with you.

You’re sitting down one morning with your coffee and you think, “Hey, I remember that guy Bobby from the party who was saying we should start that business together. I’m gonna email him right now so we can get started”.

When you’re getting into a business partnership, you’re essentially getting into a marriage. Are you really going to marry someone you just met at a party? Hell no!

I’m gonna fill you in on the good, the bad, and the ugly of business partnerships, and how you can have a successful one.

Know Who You’re Working With

Most partnerships don’t work out because people get into them without understanding the person they’re getting involved with.

You’re not just investing in that person’s skills, you’re investing in who they are—their baggage, their friends, their family, their habits, everything. And if you’re not willing to work with their background, your partnership is going to fail.

Craig and I became business partners in late 2009 through the Info Mastermind Group, but before then, we’d already known each other for two years.

And during those first couple of years, we would spend 2 whole days together 3 times a year. I got to see the good, the bad, and the ugly of Craig.

From there, I was able to make the decision of “Is this someone I want to run my business with?” and vice versa for Craig. Obviously, it worked out.

Don’t just rely on your own intuition, reach out to others in that person’s professional circle and ask them what they’re like on a working level.

Are they reliable? Do they have follow through? Are they trustworthy? Will they promise a unicorn but deliver a donkey?

Have that adult conversation and find out the nitty gritty of your possible business partner. Remember, this is like a marriage. You can’t just wing it.

Look At What Value The Other Person Brings

When Craig and I first started, I knew I wanted to create the Info Mastermind Group. But at the time, I was coaching and consulting personal trainers.

I already had an info business of my own, but what I didn’t have was any other people in the info space as resources.

Craig was one of my few clients who had an online info business. His value to me was that not only was he extremely structured and disciplined, but he was connected to professionals in the info space I wasn’t connected to yet.

In terms of skill set, you need to find someone who’s strong where you are weak.

At the time, I was the guy who knew how to work the stage and had traffic buying experience, while Craig was more functional in the disciplines of building an online business.

We’ve mastered our strengths, and brought them together so that now, we’re strong in every area.

You want to find someone who can help you multiply the impact you want to have.

Don’t use a partnership as an excuse to avoid decision making. A lot of first-time entrepreneurs embarking on their new venture are usually scared, insecure, and nervous.

Having a partner makes them feel like they have a buoy to hang onto when it comes to making the big decisions.

They’re afraid of screwing up, so they want someone to mitigate the risk with. Don’t fall into this trap! Find someone to dominate with you, not depend on you to handle everything, or vice versa.

Write a Partnership Agreement

One extremely important thing you need to have when starting this venture is to create a partnership agreement that clearly lists what each person is responsible for, and what their expectations are.

You gotta set it up like “Bedros is gonna do X, Y, and Z, and Craig is gonna do A, B, and C”.

I was in a partnership where we had no agreement documented, and we were put in a position where we both wanted to do the big exciting stuff, but no one wanted to do the tedious stuff.

Of course there’s going to be overlap with responsibilities, but you need a set of core expectations to keep each other in line with the same vision and path.

Partnerships work best when the work and profit is split 50/50. If it’s not, sooner or later someone is going to build resentment.

If it starts at 50/50, and then moves to 60/40, the person on the short end is gonna be like “Hey wait a second, I’m doing just as much work, why am I getting less benefit?”

Unless it’s clearly stated in the agreement you’ve written, 50/50 is the fairest way to go about a partnership.

But hey, even though you own 50% of the company, work like you own 100%.

You should be constantly trying to outdo your partner. Not in a “I’m better than you” way, but so that you both are striving for greatness and maximizing the success of your business.

Ending Your Partnership

Now let’s say you’ve come to realize you and your partner don’t work together well, and it’s causing a strain in your relationship and business.

How can you dissolve the partnership without ruining friendships or destroying the company?

Clearly write out the steps to take in your partnership agreement in the event you need to part ways.

Give a time frame for how long the process will take, disclose if the attorney will be involved, whatever you need to include to have a clean break.

And if you don’t have a written agreement in your partnership, complete with a plan in place to split if necessary, it’s not too late to start one!

Another route you can go is to hire someone on your behalf to negotiate the dissolving of the partnership. That way, there’s no emotions involved in case you want to maintain a friendship with that person.

Business partnerships should be looked at as a lifelong commitment – you don’t want to take this lightly.

When you get into these partnerships, you need to be thinking “I want someone who’s going to help me grow my business to massive success”.

Communicate, be patient, document everything, and work like you own 100% of the company.

That, my friends, is how you run a successful business partnership.

Check out Craig and I’s full podcast where we discuss the ups and downs of business partnerships here.