After years of mentoring entrepreneurs, I can tell you there are four distinct phases of entrepreneurship: the Founder Phase; the Farmer Phase; the Tinker Phase; and the Thief Phase.
The Farmer phase is the most important for a gym owner. Some gyms struggle to ever leave the Founder phase, even after years in business. But after a year, most have achieved at least a nucleus of success; they have a small cadre of very loyal members, a backup coach or two, and they're taking home a paycheck. These are the Farmers: the entrepreneurs who seek to make meaningful careers for their staff; who want to work more ON their business and less IN their business; who want to work toward a 33% profit margin and build a cash flow asset and someday retire.
In this episode, I'll walk through the Farmer Phase, what it takes to make it through this phase successfully--and what comes next.