Don't React to Crisis - Respond
from Mike's new book to discover exactly
what you need to do next for your business
to survive tough times and bounce back strong
In one of Eric Cressey's latest articles, he reminded me that "Bigger Isn't Better, Better Is Better", and went on to state...
"I think you're better off taking home 50% of a $500,000/year fitness business than net 5% on a $5 million/year one." Do the math. 🙂
Couldn't have said it better myself (no pun intended). A business that is 10x bigger is probably going to cause you a lot more than 10x the headaches, for the same take home.
Now I am not here to crush dreams. If you want a $5 million company that brings tremendous value and impact to the world, do your thing. All I am asking is you count the cost first. One of the mistakes I see many owners is chasing a big business before they nail down the fundamentals of business.
I used to think that getting bigger would solve all my problems. More income = more money = more flexibility, right? More stress, yes. More money in my pocket, not so much. As Profit First author Mike Michalowicz says - It's easier to control a $10,000 a month cash eating monster than a $100,00 a month cash eating monster.
Here's my advice.
Get REALLY good at what you do when your business is small. Perfect your craft. Develop your systems. Crush your debt. Learn to use every dollar to its maximum potential. You may find nailing down those skill gives you exactly the business you want. And if you do decide to scale, they will give you the foundation to do it right.
Better Before Bigger.
Because bigger isn't better. Better Is Better.
Dean has earned local and national acclaim for building companies that excel at their core functions and achieving high business performance. Under his leadership he and his team earned over fifteen awards for fitness coaching excellence. In 2016 he was recognized as the High Performance Business of the Year, and in 2018 earned a MindBODY Visionary Award. He is a speaker on entrepreneurial topics, with a focus on helping small business owners become more profitable and earn both the money and peace of mind they deserve.
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