What’s the most important part of planning a business?
50% Facts with Silent Mike & Jim McD
Jim McDonald
4.9 • 2.1K Ratings
🗓️ 21 October 2022
⏱️ 12 minutes
🧾️ Download transcript
Summary
Mikexbull asked “As someone who wants to open a gym eventually - what do you think is the most important part of the planning?
A lot of people concentrate on all the wrong things. What grade would we give ourselves when we look back at how we started? How do you keep from being too optimistic? Or too pessimistic? What are the “gears” of your business?
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Hosted by Mike Farr (@silentmikke) https://www.instagram.com/silentmikke/ and Jim McDonald (@thejimmcd). https://www.instagram.com/thejimmcd/
Produced by Jim McDonald
Production assistance by Sam McDonald.
Theme by Aaron Moore.
Branding by Joseph Manzo (@jmanzo523)
Transcript
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| 0:00.0 | I think that the holidays feel like frozen noses. I love walking with the dog for long periods of time. |
| 0:10.0 | Hopefully it's snowing and you've got to wrap up warm. So I think a frozen nose is a sweaty armpit |
| 0:15.0 | because your wrapped up so warm but then you're climbing hamps and heath and you get to the top |
| 0:20.0 | and you're like, and then you can see the breath but then your nose is still freezing to top. |
| 0:25.0 | Join in every sip with red cups now back at Starbucks. |
| 0:39.0 | Hey, we're in. Ladies and gentlemen, welcome to one good question. |
| 0:42.0 | 50% of a fax episode, Friday episode where we take one of your good questions is from Discord. |
| 0:47.0 | That's our community where we hang out. You get early access, exclusives on Jim Apparel, |
| 0:53.0 | everything to do a third treat, everything to do with good company, as well as a like-minded community. |
| 0:58.0 | If you want to get involved, 50% fax.com is a link to that Discord and you can join. |
| 1:01.0 | And today's question is from Mike XBull. He said, as someone who wants to open a gym eventually, |
| 1:07.0 | what do you think is the most important part of the planning? |
| 1:13.0 | Since I read the question and Jim just heard the question, I'll start to give him a time to think. |
| 1:18.0 | Sorry to have that question in mind. I think we've actually done things really well in hindsight. |
| 1:25.0 | Maybe that's a little bit of my ego still and a little bit of, I don't know, compartmentalizing. |
| 1:30.0 | But I think the truth is we did as bad as good as you can do considering the pandemic and the state we live in. |
| 1:38.0 | Literal state and metaphorical state we live in. |
| 1:43.0 | And so I think if I had to move the scale or the seesaw of the efforts we give, |
| 1:51.0 | but I think we gave really equal and good parts to kind of the gears, which are the gym, right? |
| 1:57.0 | The X's and O's, the pricing, the model, the marketing, the facility, the halos, the good buy, the operations, all that, |
| 2:06.0 | versus the branding and the voice and the marketing kind of ties into both logos, blah, blah, blah, blah, blah. |
| 2:14.0 | And then the third I guess would be the complete untangibles, the culture, the vibe, the people that are here, the team, etc. |
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