Free Book And Opening

SPEAKER_00 0:01

What's up, everybody? Before we start the show, my latest book is titled The Eight Profit Levers, and it gives you eight things to do to make more money at your gym. It's a really, really short read. I think you can read it in about 35 minutes, and you can download it for free at eight the number eightprofitlevers.com or just click the link in the show notes. Enjoy. What's up, everybody? I'm super excited for this episode. And it's my first one back after Jim Pranos. And I actually just got back to the gym and saw the guys and they were like, How was Jim Pranos? And it was like it was epic. So it was a really, really, really amazing event. Super excited. What I'm going to do today is I mean, there's so many takeaways. Over three days, I mean 72 hours of work, but over three days, I try to find seven things that I think would be really cool things to share with you that could be actionable takeaways. And I I I want to say this about podcasts. I was listening to uh I I don't think sometimes we look for podcasts that are gonna like tell us everything, you know, and give us the formula and give us the secrets. And I don't I don't know it's how the how how how you you should look at it, right? I think here's here's what happened yesterday. So I was listen, I was walking, you know, while I was waiting for Joey at Jujitsu, I was walking around, and I listened to a podcast with Tim Ferris and a guy named Jim Collins, right? And Jim Collins wrote the book Good to Create, super smart dude, right now, on another level, right? And there was like one thing he said that really stood out to me. It was kind of, you know, it wasn't like the whole premise of the entire podcast, but it really stood out. And he said, he's 68 years old, and he said, I feel better at 68 than I did at 38. I have more energy, I have more energy than I ever felt in my life. And like, like hard stop right there. It's just like what energy is just the life force of everything. Like, if we have more energy, like life is just better. If we have more energy, we're a better spouse. If we have more energy, we're a better at our work. If we have more energy, we're a better parent. It's just like it's like I think sometimes we don't think of that enough. And especially us as gym owners, we're we're working, right? We there's early mornings and late nights, and it's draining of our energy to do things. And so I think sometimes we lose sight of of how important and powerful energy actually is. And I I I I looked at that and I was just like, I don't think I'm doing everything I possibly can to manage my energy and have a peak feeling each day I wake up. Um you know, I I'll be honest with you, it took me, this is me being vulnerable. Like, it took me a little longer to recover from the three-day event. And one of the reasons why was leading up to the event, I normally do 75 hard. And I've I'm drinking zero alcohol and eating super clean, and I'm working on twice a day. And for whatever reason, this time I didn't. And I could use every excuse in the book that, oh, my mom died, uh blah, blah, blah, blah. But at the end of the day, I didn't do the work that I normally do to prep to be ready to go for the event. Now, I I feel like I performed the highest level I possibly could, but that came with a cost, right? It came with a cost of it's taken me a while to recover, right? You know, I'm just been exhausted and tired, and some of that's travel, right? But at the end of the day, are we doing the things to do? So that one little thing, that one little nugget I got, I like turned it off. I was like, I don't need anything else. I don't need to hear it was an hour, two hour and 45-minute podcast. Like, I'm done, I'm good. Right? And so sometimes you listen listen to these podcasts. You don't need to like listen to the whole thing. I mean, I hope you do, right? But sometimes you just need the one thing, the one little thing that's gonna hit you right in the gut, and you'll be like, all right, I'm good. That's it for me. And so that's what I hope this is for you. Like, do you can you hear one thing? Is there one thing that you could possibly hear that could like hit you in the belly and just be like, oh man, that was it, that was it. This I'll give you one more thing that I learned on that podcast, which I think is really cool. And Jim Collins, he you know, is doing well-known guy, doing big work in the world, and he has a team of six full-time people. Tim Ferris, same thing, doing big work in the world, and has a team of four. Now, obviously different businesses than ours, right? If we want to have a really, really big gym, we're not gonna be able to do it with, you know, one trainer to help more people. But they talked about the difference between scale of impact and scale of enterprise, right? And scale of impact is how many people are you actually helping, and scale of enterprise is how big are you growing your company, how much are you scaling? Are you open up multiple locations and stuff like that? And you know, I thought long and hard about that, right? And I think that's a big, big kind of sticking point of gyms. It's like, do I grow to you know 100 locations like Devin Gage across the board? A lot of times people see that and they just get overwhelmed by it. Devin doesn't because he's he's he's a killer, right? But and then sometimes I think what people feel is they feel less than that they're not doing that. And at the end of the day, if you had one gym that you're training 150 to 200 people and doing an amazing job and creating deep relationships and impacting those people on a high level, and then being very, very active in your community and doing a damn good job of that and publishing really good content that is getting out there, you know, not just in your community, but other places as well. Right? It's possible that your scale of impact in that one location could be bigger than someone that has five. That, you know, like five crappy gyms that are transactional in nature that don't really do much, your your scale of impact in that one gym is probably bigger than the one that opens up the five, right? And so I think that that's the that that was another interesting thing they said, and I think a lot of people struggle with this is like that the only thing they they can do to impact more people is to scale and open up multiple locations. And that's not true, right? I mean, look at me, look at what I'm doing. I don't have multiple gyms, but I know that I'm helping more people in, you know, through the coaching and the consulting and the things that I'm doing, well more than if I had five gyms. Well more. So so don't always think that that that one avenue, that one way to scale is the only way that you can make an impact in the world. You can make a big, big impact in the world if if you have one business and one gym and do it really, really well, right? If you have one very mediocre gym, yeah, no, you're not gonna probably impact that much. But you're not listening to this podcast to do mediocre work. You listen to this podcast to do great work. Okay, so let me give you some of the takeaways. Now, I I will say this. I'm gonna start with a caveat. So we we have lots of fun in these events, right? Now, Jopranos is, you know, obviously a play on the on the uh on the TV show The Sopranos, right? And it's funny as I'm recording this, I'm sitting at my desk, and someone sent me a Tony Soprano like bobblehead doll. So that's sitting on my desk right now. But right so the show was one of the more popular shows ever on TV, and we did a funny skit to begin the event, right? And I I obviously dressed up in my Tony Soprano tracksuit, and then we all had you know all the different characters of the of the uh of the sopranos coming in and as as as you know, they were all gym owners that had different problems and things like that. And it it ended up me talking to the therapist on the stage, and I ended up like getting chased out of the room by the FBI, and it was it was actually hilarious, right? And so it was a great way to start the event. I think that the lesson there is the the way we started it was it was funny, it was creative, and then even people I was very nervous about the people that were guests. We had about 25 guests in the room that were not members of SBF. And I was very nervous to be like, uh these people are whacked out of their mind. What are they doing? I was so I was nervous about what those people would say. And they were the ones coming up to me. It was like, this was the best way to ever start a seminar that I've ever seen. They're like, oh my God, this is crazy. So it was like it, it's it one of my favorite lines from Dr. Rob Gilbert is it's the start that stops most people, right? And it's the start of an event, it's the start of a session, it's the start of things that really get things off on the right track. And so that's how we started. We started with this cool, funny skit. It got everyone excited, it got everyone fired up, it got everyone laughing, laughing, laughing. Oh my gosh. If you're doing things in person, gotta make people laugh, man. You got and that was my only goal. When I was working on the skit, I was just like, dude, the only my only goal is to just make people laugh. That's what I want them to do. They're in the seats, they're seeing it. I don't want any serious mob stuff. All I want is to get people laughing. That was my only goal. And it worked. It worked. They were laughing, some they laughed at. It was interesting that like because I wrote a lot of the jokes myself. Uh, some of them Chat GPT helped us with, some of them we had a Hollywood script writer, my buddy John Beck, he's a Hollywood script writer out in LA, and he helped us too. So a lot, a lot went into it. And uh shout out to all my boys that that helped us out in the skit. They you know attended Zoom calls and we really prepared. So, anyway, understand this the way you start something is is really powerful. So that's how we kicked off the session. And then I I got into my first lesson, and I always teach something uh around mindset in the first section of the thing. And the reason why I teach mindset is because of this quote that I learned from Tony Robbins. The number one chokehold on a business is the psychology of the owner. And so, yeah, we can have all the tools and all the resources and all the marketing and all the sales and all the things that we need about a business, but if our mind isn't in the right spot, if we're negative in our head, if we don't have energy, if we're just not there mentally, we're not gonna do nearly as well, right? I I'll take the guy that's got a great positive, optimistic, energized mind over the guy that's got that's burnt out, that's got the really best tactics, right? And so some of this is about what are the things that we need to do to help improve the way you think. And so I always teach some sort of a lesson, and the way I teach things is based on this quote, which is from Andy Stanley, and it's memorable is portable. And basically what that means is if you can remember something, you can carry it with you. So my job was not to fire everyone up and get people motivated. I that was not my job. I don't want to teach mindset like that. I don't teach mindset like that. I teach mindset to get people to remember things, to deliver them a system to change how they think. And so I taught a system that's basically called the four C's, something I learned from the strategic coach program, right? And it's basically these four C's commitment, courage, capability, and c and confidence. And you know, just running through very briefly, we have to fully, fully commit to something that we want to have a breakthrough. And if we want to get more confident in something, we have to fully, fully commit to it. And I talked about how to do that. Then after commitment, it goes through a phase of courage, and I I explained how courage doesn't feel good. Courage feels like fear, anxiety, and uncertainty. And I tell a story of guys like they're in you know, training, they're doing uh in Vietnam, they're doing grenade training and they're in the bunker, and all the guys are scared to throw the grenades. And the the sergeant goes to the men, fear is wetting your pants. Courage is throwing the grenade with wet pants. So when you go through the courage phase, it's not the absence of fear, you're gonna feel it. It's can you find a way to calm yourself down, to have the clarity to take the next step, which is finding the capability. And capability is essentially what are the skills and the knowledge you need to get more confident. Confidence can be if all of a sudden you acquire a new skill and you get more knowledge about something, you're gonna be more confident in that thing.

unknown 13:22

Right?

Mindset And The Four Cs

SPEAKER_00 13:23

And every one of us has been through this cycle of like if you rode a bike, if you graduated from school, if you became a parent, like every one of you have been through the commitment, courage, capability, and confidence stages. Right? It's something, it's it's basically the way you get better at something, it's basically the way you create a breakthrough. So I gave a ton of different examples and I went deep into each one on how to maximize your performance, but that's kind of how I started the event. I I got it rolling with with with teaching that that lesson. And then I got into some stuff about the future. I I started to talk about well, what what's going to happen with the AI situation and gyms and all of that, and it's interesting because I've been kind of going deep down the rabbit hole with all this. I haven't shared a lot of it here because I'm still learning, I'm still growing, right? But it will be soon. And it's interesting, I had a guy in for a consulting day, and he I started telling him about all the stuff I'm learning about artificial intelligence and what that's gonna mean and what it's gonna mean for gyms. And and I I literally was talking about it for like a minute, and he looks at me with these scared eyes, and he goes, Are we gonna be okay? Like gyms, are gyms gonna be okay? Because I think that's what a lot of people are thinking. It's like, oh my God, is it am I gonna get you know replaced by a robot? Is this if my is my business gonna be obsolete? I think a lot of I think a lot of careers are thinking that, and some of them, rightfully so, we're redoing our basement. And uh we had an architect come over to look at it. It was we didn't really need an architect, but it was just like part of the design package that we were using. And so they came over and Vanessa had already put into ChatGPT what she wanted to look like, and she showed it to the architect, and he looked at the at the rendering, and he looked back at Vanessa and he was like, You you you did this in AI? And Vanessa was like, Yeah, it took me like two minutes. And he goes, We're screwed. He's like, We're out of a job. Like this ain't like that, it would have cost you for me to do that for you, would have cost you an arm and a leg, and it would have taken me five hours to do of what Vanessa did in two minutes, right? And so there are certain professions that should be absolutely petrified. Lucky thing for you and me, gyms aren't one of them. If anything, I'm more optimistic about owning a gym than I ever have been. And in the event, I went into why. I I went into what are the reasons why I think that owning a gym is a really good spot. And it's funny because there's a lot of gurus out there that sold their gym that I think are kicking their own ass right now. Like, why the hell did I do that? And I see some of them actually starting new gyms right after they realize what is about to transpire. So it's a great, you're in a great spot. Like if you own a brick and mortar gym, you're in a great spot. And and right after the mastermind, we uh me and the Vanessa and the kids, we drove to Vero Beach, which is about two hours from Orlando, and my cousin, who is a let's just say he's you know, very, very wealthy, he he has this monster house on at on Vero Beach. Monster. And we went and stayed with him and stayed the night and had a great night. And uh I sat on the beach and I talked with him for hours and hours and hours because he's a tech guy. And he's also a client of mine. He's been a client of mine, so he knows the gym game really well because he's been a client, literally, my cousin has been a client of mine since 2007, since before I opened my gym. And so he's a guy that has advanced knowledge of what's going to happen in the tech space, right? And he understands my business really well. And I sat down for eight hours talking to him on the beach about like the my ideas and the things that happen, and I was I asked him tons of questions and bounced stuff off of, and he equally is optimistic. He's like, Yeah, you should open more gyms, open up more gyms, right? So easy so the good news is the what the big thing I want to share with you is it's a great, don't be like get fear-mongered into you know anything else. So it's a great time to own a gym. Now, are there gonna be some challenges in the next few years? Absolutely. Is there some changes that we're gonna need to make to run our business? Absolutely. But there is there's some some really good things on the horizon. Here's here's what I will tell you. One of the most important things that you could lean into right now is developing a massive amount of trust with your customers and in your community. Trust-based business is the future. Is if you can become the authority, the trusted advisor, the expert status person in your community, you will win above all else. And so a lot of that comes down to who you are as a person. A lot of that comes down to, you know, who is the person leading the business, right? Because at the end of the day, what's gonna AI is gonna create a bunch of copycats, it's gonna create a bunch of guys that are doing the same shit and the same marketing and the same message and all that stuff. And when you can separate and differentiate yourself through who you are, that can't be copied. We're gonna be in a copycat economy, and you cannot be copied. And so you have to start thinking about who you are and how you communicate that to your market. One of the reasons why I'm doing a workshop, and I'm not plugging it here because only making it available to my mastermind clients, is I'm doing a workshop called How to Grow a Personal Brand to Grow Your Gym. Not to grow a personal brand to become famous on Instagram, to grow a personal brand that can grow your gym. So basically, what's the authority, credibility, expert status, how to do that, and why that's so important in today's economy with AI and all the copycats and all the people just writing these garbage emails, it's called AI slop on ChapitPT, and then just putting garbage out there, right? And so what I was telling my guys, right, and I'll tell this to you, is who you become is a really really, really important piece of that. And and that is like, you know, the more you lean into growing yourself as a person, as a business owner, you know, the the more powerful your business is going to be. It's like, you know, people usually don't trust the nameless, faceless business. They trust the person. Look at Steve Jobs, Warren Buffett, like those are you know powerful, strong names behind powerful, strong brands. You know, Twitter was not nearly what it is today, right, when when Elon Musk didn't own it. It was owned by nameless, faceless people. But now, like everyone knows Twitter or X or whatever you want to call it, is because it's been driven by Elon. Right. Now part of it is it's Elon, but the other part of it is he's a well-known household name in through the community, right? And so so that's kind of I I that was like my first piece, and then I went into some, you know, because one of the premises of the of the event was be the boss your business needs you to be. And so I talked about what do what do we need to do today to be better bosses? Okay. So if you're listening to this, you know, and you have you know a small team of people, what do you need to do to be a better boss? And the one thing I'll I I talked about was was was culture. I talked about culture and that that that I w I I learned how important culture was from a guy named Seth Godin. And Seth Godin told me personally, he said, Vince, your number one job as the owner of your business is to drive the culture. That's your number one job. And a lot of times I and I've taught that before, and a lot of times People don't know what that looks like. They know it. They're like, oh yes, I know I'm supposed to drive the culture. But they don't know like what there there's there's things that need to be done to do that. It doesn't just happen. You don't just show up to your business and drive the culture. Right? There's intentional things that that need to be done to be able to do it. And I sat down and I thought long and hard of like, okay, what have I done to drive a good culture within my gym? I mean here we are, my gym's been operating for 18 years.

unknown 22:33

Right?

SPEAKER_00 22:34

And we have turned over our entire staff. Entire staff. Yet we still have a very, very strong culture. We have very good retention and we have very good staff retention.

unknown 22:47

Right?

SPEAKER_00 22:47

But over 18 years we have turned over our entire staff and the culture is still there. Right? And so I I talked about what are the things people need to do to drive the culture. I'll give you one of them that I think is probably the most important one. The most important thing that you can do to drive the culture is have a definition of your culture. How can you know what to do if you don't have a definition of something? Right? And so that's a really, really powerful thing, and that's what I pushed everyone to do is to define the culture. Now, how do you do that? Simple. You create core values. Your core values are your definition of your culture. And you know, I challenged some people in the in the room, and I said, How many people, if I called you up on stage right now, raise your hand, if I called you up on stage right now, could tell me what your core values are. And not many hands went up. And this is people that I've been teaching this for years. I guarantee you, if I went into a room of gym owners that haven't learned from me that that, you know, no hands would go up. Right? And so very, very few hands went up, few brave people. And I didn't call anyone up to the stage. I wasn't doing it to shame anybody or anything like that. But at the end of the day, if you don't one have a definition of your culture, and two, if you have a definition of culture but it's not known, if it's not carried with you, go but back to the memorable is portable quote, that that's really step one. Right? So step one for you, if you if you one of if Seth Goan says, and I believe he's right, that the number one job is to drive the culture, then the first thing we need to do is have a definition of it. The second thing you have to do is know the definition.

unknown 24:37

Right?

AI, Fear, And Gym Opportunity

SPEAKER_00 24:38

It's not enough to put them on the wall. Enron had core values on the wall. They weren't they weren't really lived. They weren't known, they weren't lived. So that's uh that's that was uh one piece of that. And then I got into my second talk was all about making money, right? And that's kind of what I really talked about. Was I did seven ways to double your income. My talk was titled Seven Ways to Double Your Income Outside, Seven Ways to Double Your Income in 12 Months, right? And I did seven different things. And here's here's one of them I'll share with you. I think uh this was a powerful one that a lot of people said was one of their biggest takeaways. And this was clarity around cloning and multiplying your best customers. That was one of them that I talked about. And if you if you think about it, like who are your best customers? Who are the people that are spending the most money? Who are the people that are referring the most? Who are the people that are you know very active in the business, meaning they are participating in all the things that you do, they come to your workshops, they do all this stuff, right? So who are your most valuable clients, right? And I had the the room write who their most valuable clients were, right? From you know, mainly from the the biggest driver of it is uh is actually how much they spend, right? But really honestly, how much they spend is it's it's probably the way to start, but another way would be how much they refer, right? Because the referral is more the multiplier effect. So you could do it with you know how much they spend, who the best spenders are, but you could also do it through your best referrers, and you could argue that those people are the most valuable. So anyway, I had them create the list of what are the things, you know, who are the people, like who have you actually looked at at the list? And and it's funny because I got this through Vanessa, my wife. Every year we take the top, you know, you know, 20 clients, and we do a like a holiday thing where we deliver to their house like a gift, right? And the list, Vanessa was working on the list and she had the list out on the table, and I started reading the names. I was like, man, some of these people have spent a ton of money with us. And I looked at the list and I started looking specifically into these people, and I came to the conclusion that, hey, there's one of the things that we can do is start looking at the things that those people are into and start doing specific marketing around getting those people in. I'll give you an example. One of the people on the list was, of course, the guy I was talking about earlier, my cousin. Right? He was the highest spender. He was the highest spender by like a lot. And it wasn't even because he was the highest because he's been there so long. It was this was only for the year, right? We didn't even do lifetime, we just did last year. Well, he's massively into golf. Have we ever done anything with golf? Maybe once ten years ago. Nothing much though. Well, there's some of the most wealthiest golf courses, expensive golf courses in the world ten minutes from my gym. With loaded with people just like my cousin. Why, why, why, why? That is that is a that is a pond I should be fishing in. But I had never even thought about it until I sat down and started to think about all right, what are the things that my cousin is into that I could do things to get people like him in the door? Right? So, you know, another one was he's also into sailing. I don't know, I still haven't figured out how to do this one, but I know he's into sailing. And is there things real relative to sailing that we could do? One of the people was a very, very well-known real estate agent.

unknown 28:41

Right?

Trust And Personal Brand

Defining And Driving Culture

SPEAKER_00 28:42

And you know, he's been a real estate agent in our community for two decades. He's very, very, very connected. Why haven't I done any joint ventures with him at all, ever? Nothing. Not one thing with realtors, not one thing with him, not one thing like, why? What am I doing that have all these people that are that are very, very high-end buyers in my business already? I can look and see what they're into, what the commonalities are, and poof, a marketing opportunity comes right into my face. And some of it is just about the thought experiment, right? That's what it is. It's just a really good thought experiment to really sit down and look at your best buyers because that's what you want, right? You want more people like your best buyers. And then there's things that you can do to find people like that. So that was one of the one of the seven that that I got I got into. I mean, I uh I could honestly, this podcast could be four hours of me just talking like this. Um, but there was a ton of other really good speakers. One of the our speakers was a guy named Ben Stocks, and Ben is runs all the ads for my consulting business, this business, right? And so he's like my right hand, and he's also on my marketing team as well. And I and he did a talk, and he he he made one of the best points I thought of the entire weekend. And he talked about how sometimes gym owners and entrepreneurs they have this badge of honor that they say things like, Oh, I never watch TV. I never watch TV, I never I only work out, work, and you know, I've never watched TV, right? And I'll be honest, like I watch some TV. Like I love sitting down with V, my wife, and watching, we're watching Landman right now. Like it's awesome, it's fun, you know, and again, like, yeah, do I do a ton of it? No. But to watch an hour show at night before I go to bed, it's not gonna end my life. But anyway, what he was saying was if you don't watch TV, fine. But guess who's watching TV? Your customers. Your customers are watching TV. And so it would be helpful and smart to know what the hell they're watching and know what's going on, so you could at least have conversations with them about it. So he gave an example, and not just conversations, but also a marketing opportunity. So he gave an example of Lady Gaga, and there was a there was something about Lady Gaga was like at the Super Bowl, and there was a picture of her, and I mean, people were saying that she looked fat. I mean, she didn't look fat to me in the picture, right? But people were like crushing her on social media because she was fat. And Ben took this and made a post about it, and basically like ripped it around and just like, this is ridiculous. People think that you know the celebrities need to have be have this bodies of perfection, this is what's wrong. And he had like, I mean, like vi local viral, like hundreds of hundreds of comments shared like 400 times, and actually posted a picture of it, right? And it was a really cool thing, but it was only because it was a current event. And so the big takeaway is are you up on current events and can you take the current events that are happening in the world, right? And can you use those in your marketing? And and one of the best things for us back in the day was the biggest loser, right? And and and I've been like the biggest loser, you could talk about the different things they're doing. And I've I have been teaching this for years, for years. I mean, you go back to some of my early stuff. I used to talk about this because what it this the story goes is that we used to do this exercise called, we still do, Bulgarian split squats, and everybody hated the exercise. Everyone was like, oh, those stupid foot up on the bench things again. Like they would yell at me, they're like, This sucks, Fence. And this is back when I was training every session, right? And then all of a sudden there was an article that came out in like women's health, and it was a whole spread on the Bulgarian split squat and how it's the best art, it's the best exercise a woman can possibly do for glute development. And they're always asking me, We want glutes, we want glutes, we want glutes. And they would always get sore from the Bulgarian split squat, but they still just hated it. And afterwards, they're like, Oh my god, I saw that article in Women's Health about Bulgarian split sauce. Can we do those split squats more? Right? But but they saw it in the publication, and now they have this link with a with a publication that they know and respect. What they know, what I should have been doing is taking that publication and using that in my marketing and saying something along the lines of, well, Women's Health came out with this great article on the Bulgarian split sauce. Good news, we've been doing Bulgarian split squats here for the last seven years. Sorry, the call coming in for the last seven years, and and uh here it is women's health coming out and saying how how amazing it is, right? Um, so you should be looking at current events, you should be looking at these different magazines and looking and trying to find these different marketing opportunities that can help you grow your business. Okay. So that was Ben. Great job. Uh Ben talked about driving the culture. Let me go through GR Hoff had a great one. He GR Hoff is the owner of Jim Member Machine. And it I I believe it's the best marketing agency on the planet, right? They do GR does an amazing job. And they have a great squad and a great team, and they have great or great retention at their at their agency. So anyone that comes to me and wants digital ads or a website, I send them to GR uh over at Gym Ember Machine. And GR spoke on Sunday and and had a great one. He had a great presentation, but one of the th he he had a great lifetime customer value formula, right? And so your lifetime customer value is the total number, the total amount uh of money that a customer is worth, right? And how do you figure that out? Now, sometimes I have given like these hard, clunky definitions and formulas and on how to do it. And I do think it's probably the most accurate way to do it. But he gave a really, really good way to do it is you basically take your average revenue, right? So let's say you have you're doing$20,000 a month, right, and you have 100 customers, that would mean your average revenue is$200 a month, right? And then what you do is you take that number and then you divide it by what your attrition rate is, right? Is it 2%, 3%, 4%, and you divide that number by attrition rate, and that gets you your lifetime customer value. So I will, hold on, just putting the calculator now. If I took that 200 and I divided that by 0.03, right, that's$6,666. So basically, if your average revenue was$200 a month and you had a 3% churn rate, your lifetime customer value, you know, was$6,000. So it's like that's when you get a new customer, that's what they're worth to you over their lifetime. Right? And so the big thing is like that's like an important number to know because a lot of times I don't want to spend$50 on the newspaper ad. I don't want to do that because you know we might lose money. And it's just like, yeah, but if you got one customer, you spent$50 and you made$666. It's like it doesn't even make sense that you're hesitating to do that. So I thought that that was a good formula, you know, that GR talked about, and he did he did a really, really great job. We had, of course, the great Thomas Plummer speak, right? And Thomas Plummer blew the doors off as usual. But he he, you know, it's funny. It was a very, you know, emotional talk. Like he Tom got emotional at the very end of the uh of the talk, and just so he, I mean, standing ovation for him. It was absolutely incredible. And he left us with this message. What did it mean to be you? That's what he told us. What did it mean to be you? And I think sometimes we're so bogged down in the business, and we're so bogged down with where am I gonna get my next customer, and you know, uh, how am I gonna make some more money and all of that? And I think at the end of the day, you know, Tom is it's about the the lifetime of impact that you made in your community, in your customers, in your staff. That that's the overarching theme of the entire thing. What did it mean to actually be you? And he's leaning on did you make a difference? Like, did did you did you transform lives? Did you do the work, you know, to be able to make a difference? And I'm gonna be honest and say a lot of people in in some of these professions that are sitting down and punching the clock, it didn't it didn't mean much. If unless they had like a really you know, they were very active in their family life, but in terms of their profession, you know, what did it mean to be them? We have an unbelievable opportunity for for our for our life to really, really matter by by creating an impact in the lives of the people that we're doing it with. So he did an amazing job. He ended it again, standing ovation for the great Thomas Plummer. It was absolutely amazing. I'm gonna wrap it up there because I could totally keep going. We had Carly that talked about the ambassador program, Joe Hashe crushed it with his talk. Mike Waldron talked about finances, Tom Leonardo talked about sales conversions. I mean, it was loaded. Not to mention the last. Well, I'll I'll leave you with one final story. Not to mention the Gym Owner of the Year Award, which we had. We had three finalists for the Gym Owner of the Year Award. And what we do is we have them, we have them do interviews, and we essentially interview them with with you know deep dive interviews to get all about their business, right? And we put their names in the program with the stories. I got the programs the night before I was supposed to leave. And all their names were spelled wrong. And I had to make a decision. I was like, what do I do? Do I just you know apologize and just be like or do I reprint all 120 booklets that cost me about 10 bucks a pot? And I was talking with Vanessa about it, and I was like, it'll be fine, it'll be fine. And she's like, no way. She's like, you need to reprint. She's like, call the printer now and see if you can reprint them. And I called the printer, and he was able to reprint them. And we I was I was gone, but Vanessa actually ended up bringing the books down, the the new ones. And so we threw away 120 bucks and we got 120 new ones for the event. And I think the the lesson there is how powerful it is to use people's names, and how powerful it is to individualize things for people and to know people on a deep, deep level. And the the the foundation of that is their own name. The foundation of that is their own name. You'll build a better relationship with people if you remember names early and often and you use it. I think it's a very thing that see people say they do really well, but I don't know if they actually do it really well. And that example, that booklet reprint was you know just my commitment, and you know, obviously being strong armed by my wife, right? I didn't want to spend the money to do that, but it was the right decision and the right thing to do. And man, uh, she as usual was right. And they got the books reprinted and the names were spelled right, and the winner was Giancarlo Rainey. He crushed it this year. So proud of G-Man. He did so great. Check out his stuff on Instagram. Uh, you can see all the pictures on Instagram from the event. It went so good. So super proud of everybody, the other contestants, Christoph and Bobby Maria. They did amazing. But G-Man took the ring for this year at Gym Pranos as the Gym Owner of the Year. It's a prestigious award, and super proud of him, and super proud of everybody that came down to Orlando and the team, then everyone that spoke. It was just an absolutely incredible event. I'm so grateful to be doing this work, so grateful to be doing, you know, coaching gym owners and to have this opportunity to put on these events and have fun at the same time and doing it. So and last I appreciate you. Appreciate you for for listening to this podcast. Hopefully, you got one nugget, one thing, like I said in the very early 40 minutes ago, or wherever this is. If you get one thing from it, it it was hopefully worth the 40 minutes of your time. But go take action on that one thing. So I'll see you guys in the next one. Peace. Guys, hope you enjoyed the show. Reminder that my Eight Profit Levers book is released and out, and you can get a free copy at 8 ProfitLevers.com. This is the book that's going to give you eight ways that you can amp up the profits at your gym, and you can read it in less than 35 minutes. Go to eightprofitlevers.com or click at the link in the show notes. Thanks.