WEBVTT

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It's going to be ugly, there's going to be shit, you're going to fuck up.

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Your team is going to, is going to be operating on an incomplete info because the thing is it's

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like, what are their options do you have?

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Welcome to the Jim Secrets Podcast where we talk about how to get more customers, how

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to make more per customer and how to keep them longer and the many failures and lessons

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that we have learned along the way.

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I hope you enjoy and subscribe.

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What's going on, everyone?

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Happy Monday.

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Monday, you guys are rocking and rolling and doing and taking massive action.

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I wanted to make a quick vid slash podcast for those who's tuning in on the podcast.

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Thank you about imperfect action and certainty.

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And so a lot of you have either recently started, you know,

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had to make a massive pivot in your business or you've been paralyzed by fear.

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And so I wanted to hopefully address some of those concerns because I think they're

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incredibly common and they're definitely worth addressing.

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And so I just got off the phone with somebody that owns a company that's very affected.

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They work with chiropractors, really no more affected than we are in the Jim industry.

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But doctors in general tend to be a little bit more hesitant, a little bit more analytical

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and honestly just a little slower to react to things.

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And so I kind of wanted to share with you guys what I shared with him and so hopefully

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it will be valuable for you.

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And the thing is is that all of us right now have a choice to either take imperfect action

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or no action at all.

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But the reality is that you can either take the choice or let your circumstances make

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the choice for you because the choice is going to be made.

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And so right now this is especially speaking or I'm especially speaking to everyone who

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likes to be perfect, wants to know exactly what's going to happen at every step, wants

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it to be perfect.

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Let me tell you, it's not, it's going to be ugly, there's going to be shit, you're

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going to fuck up, your team is going to is going to be operating on an incomplete info

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because the thing is it's like what are the options you have, right?

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Like you can't wait a week, you can't wait two weeks once you've pressure tested everything

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and gotten the process flows down and like it's not like the thing is is a lot of you guys

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had everything's cool.

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And then the next day you were announced you're not allowed to do business, right?

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So if that's the kind of pressure and environment we are currently in, you have to let your actions

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reflect that, right?

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Like taking time should reflect an environment where you might have time, you don't have

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that right now.

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And so what you have to paint for your team is is basically giving them emotional permission

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to feel not okay and still act despite that.

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So when you're talking to your team, like like listen, I like right after you explain

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everything, like listen guys, I know this is not perfect.

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I know this is not even pretty, but what else we got, right?

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What are their choice do we have right now?

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And all you hear is crickets because no one else has another solution and you're like,

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all right.

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So this is the best, this is the best, best bad idea I've got, all right?

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And so when you're looking at a changing environment, what you're trying to do is look

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at what existing resources and skills do I have as a business at my disposal that I can

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recalibrate and reset to meet a new market demand, right?

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This is what businesses do over a longer cycle as they call these S curves where an old product

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dies over time and then you begin R&D on a new product in the beginning, it's not making

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money and all of a sudden it starts taking off, then it becomes a mature product.

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This is a normal cycle that happens in business except we are being forced to do it in a week,

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right?

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And do everything, change every system we have because being real, like yes, most gym

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owners have to go from being an in-person business to an online business in seven days,

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right?

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Never having done it.

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Your team doesn't know how to do remote, you don't know how to get zoomed to work, you

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don't know what the communication case is to look like, you're clients don't know how

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to make that stuff work, what does it look like from a scheduling standpoint?

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How are we going to onboard new people?

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There's a ton of things that you already unknowingly did or were able to do without as much

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process in an in-person setting that you're now having to learn.

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The thing is is, what's your choice, right?

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What other change you got?

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And so one of the things that I wanted to convey to you in terms of how you how you talk

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about these changes is certainty, all right?

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Now I can't remember the first time I heard this, it's not mine, but it was confidence

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for boys and certainty is for men.

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And mind you, I understand that we have women on the call, just reflect everything I say

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in a female setting, same thing, all right?

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We need to reflect certainty in times where you're not certain because that is what everyone

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is looking for from you as a leader, right?

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And you might not be.

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A lot of you guys have really heard the saying, courage isn't acting without fear or acting

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in the absence of fear, but acting despite fear or taking action despite of how you feel.

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And this is pretty much what we have to do right now, right?

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And so if anything, all I wanted to do with this one podcast is leave you with one single

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thing, which is it's okay for you to fuck up right now, right?

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But what's not okay is for you to do nothing.

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It's okay to take in perfect action.

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You'll get better.

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You've never sold over the phone before.

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Guess what?

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You're going to learn real fast, right?

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And guess what?

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You're going to suck.

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Why?

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Because you've never done it before, right?

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Is your remote fulfillment going to be amazing?

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No, of course not.

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Why would it be?

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You haven't done it before, right?

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But that's okay because what other choice do you have?

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All right, so I just like, if I can just reflect this to you to give yourself a break about

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not being perfect, but not give yourself a break about not doing anything, all right?

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Like everyone needs to act.

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This is affecting all of us immediately right now.

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And if you're in an area that isn't quarantined, do not be the guy with the duns hat on who

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says, well, I'm going to wait.

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Sure, you don't like getting ahead start.

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You don't like being prepared.

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You don't like learning from other people's mistakes.

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You want to wait for things to happen to you.

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Awesome.

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Good for you.

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I think that humans have this unique advantage when we get to look at other human beings to

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say, I'm going to learn from his mistake.

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I'm going to learn from his circumstance.

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And we are a unique situation where history is literally playing out just a couple days,

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just a couple of weeks ahead of time in other areas.

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So learn from it because don't think it's not going to happen in your area.

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It will, right?

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None of us are going to get out of this anytime soon, right?

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So you've got to adapt.

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You've got to take in perfect action and it has to be massive because you're not going

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to take a small incremental shift from a shift from a massive, external change.

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Hey, if you're a return listener and you have not rated or reviewed the show, I want

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you to know that you should feel absolutely terrible about yourself and everything else

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in the world.

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I'm kidding.

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But it would mean the absolute words to me.

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If you guys would go ahead and do that, you don't even have to pause to show you keep

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listening.

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And you can just do it with your thumb right now.

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60 seconds.

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And like I said, the only way that podcast grows through word of mouth and this is you joining

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hands with me and helping as many entrepreneurs as we possibly can because no one is coming

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to save us.

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It's just us.

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All right.

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So please go do that now and let's get back to the show.

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All right.

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So all I want to say is it's okay if you suck.

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It's okay if the things that you do don't work as nearly as well as you wanted them to

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give yourself a break, all right?

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Any picture, if you can eliminate your rent, which you should be able to do, now mind

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you.

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I'm not a lawyer, talk to your legal counsel, blah, blah, blah, blah, do all that.

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But I think if I were a betting person, I would bet that there is going to be a lot of

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credit forgiveness that's going to happen, especially for businesses that were purposely

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shut down by the government, right?

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Or massively affected due to coronavirus.

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And so most banks have already come out and said that they're forgiving or at least offering

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forbearance to landlords for mortgages.

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If your landlord doesn't have to pay his mortgage, you would all likely want to not get

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penalized for not paying your rent.

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I'm saying that you're a grown-ass person, you should make your own decisions.

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But if it were me, I would be conserving cash flow and only focused on one thing, which

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is acquisition, okay?

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The one thing you cannot stop is marketing and say, why?

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Because the moment you stop it is the moment that you have cut off the lifeline of your

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business.

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It's a moment that no new customers are going to enter and you're basically begun the

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ticking clock, okay?

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Which is why you need to get uncomfortable, learn a new acquisition process, learn a new

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fulfillment process of selling over the phone, selling over Zoom, fulfilling over Zoom,

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having Zoom workouts, having remote check-ins.

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You got to learn how to do it or it's not going to happen, right?

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It's like, what other choice do you have?

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And so I'd be conserving my cash flow for that.

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So first thing is I'm going to remove expenses that are on providing value.

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If your gym is not providing your physical location is not over providing value, that would

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not be my prioritizing of where I would spend my cash flow.

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Number one, number two, it takes, in every state, most states especially, it takes 90 days

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for someone to evict you, okay?

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Now if you're a landlord, what do you think the likelihood is that you're going to get

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a new tenant after that 90 days is over in the economic situation where you're being

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probably low?

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Got to think from their perspective, all right?

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Would they rather give some months of free rent or give some forbearance so that they

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could potentially keep you on the longer side?

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Probably.

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But first thing you're going to do, all right?

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The next one, and I'm just being real, you have to keep the business alive, all right?

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So that means that you have to let go of non-essential employees who are not going to provide value

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in the new setting.

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This is what's key.

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It's not saying you are not valuable as a person, that I don't love you.

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I love you.

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I absolutely do.

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You're just like, I love all humans.

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But in this business, these are the new requirements for how we provide value.

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If you can no longer provide value in this new vehicle, then there's really no place

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for you here.

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Now, that being said, there's economic programs from the government, there's unemployment,

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there's all these things that these people can't apply for so that you can keep the business

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alive.

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So that hopefully, come 90 days or four months or five months or whatever it is, you

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will have a business for them to come back to.

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All right?

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Now, if you've eliminated your fixed overhead with rent, right?

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And you've cut a lot of the over that was associated with the payment, then what do

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you have left?

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You should still have a decent amount of recurring revenue that you've built up over this

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time.

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Now, even if you lost 30% or 40% from freezes and cancels, that's okay.

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Quick side note, don't let anyone cancel.

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They can only freeze.

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Okay?

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So if someone's like, hey, I want to cancel, be like, no, no, so we're actually not accepting

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any cancels.

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We're just pausing until we're open.

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Is that fair?

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Cool.

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So at least this way, when you do reopen back up, you don't have to go find them and resell

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them.

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All right?

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You need that right now, but if they do pause and they don't want to do it, there's

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nothing you can do about it.

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All right?

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So say you lose 40% and your EFT, your recurring revenue is at 15,000, right?

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And you lose 40%.

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So you're down six.

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All right?

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That means you have 9,000 recurring left.

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If you have no rent and you only have one person who's assisting you, you may actually

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be able to make more money.

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Crazy.

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Like eight or nine months ago, I pushed, I was like, hey guys, I think you guys should

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prepare with remote, I called it hybrid, but a remote foam system, right?

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These are going to be able to prepare and have another way of providing high value, high

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margin services.

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There's this beautiful instance right now where we're being encouraged to switch towards

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a higher profit model.

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Okay?

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And so we should all take a moment and think about what this means.

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I know it's change, but just because it's changed doesn't mean it's bad.

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So like, need you like internalize that just because it's changed doesn't mean it's

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bad.

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Remote isn't better business model.

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It's a higher profit model.

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It has more scale to it.

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There's a number of benefits to it.

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Okay?

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So at least we didn't get like shafted into a worse business model.

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We actually, like we're being gifted a true reason why, a true carte blanche, a permission

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slip from the world to actually switch to a more profit model.

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And it is all we have to do right now is just learn it and be okay and give ourselves permission

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to suck a little bit in the beginning.

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You're not going to be perfect.

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Is it as clean as your gym?

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No.

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Clean being fulfillment.

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Germ joke not included.

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No, it's not.

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Of course it's not.

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But that's okay.

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Just give yourself a break, but you just can't do nothing.

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All right?

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You just got to take action and you got to get right back on the phone when you have somebody

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hang up on you because this is first time you sold over the phone and you got to get

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right back on the next phone called the smile with good energy.

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Look at yourself in the mirror, fun trick.

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If you've never sold over the phone, find something that's reflective.

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If you can't just turn on your zoom on your computer and just look at your face while

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you're talking.

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Your tone will change.

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You will speak better.

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It's an old school sales trick.

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All right?

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Use that if you don't know how to fix your tone.

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All right?

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So I know it's a little bit.

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If you like 16 tiny different nuggets and different directions and it's because times

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you're chaotic right now and I know hopefully hopefully for somebody you needed to hear that.

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But what you cannot do is do nothing because it's not going to fix itself superman and

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you can come in.

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All right?

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It's just us.

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So anyways lots of love.

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Hope you guys here are hanging in there.

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We'll get through this together.

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Thankfully, we're in an industry that we could actually very easily pivot to remote.

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All right?

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There are already existed an industry for remote fitness.

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So like, like, thankfully be grateful that we have something that we can do that.

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Switching to remote restaurant, much more difficult.

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Switching to remote events, doing zoom events.

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Not necessarily as valuable as an in-person, you know, three day event, right?

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You're a wedding planner.

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Kind of hard to do zoom weddings.

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So be grateful for what we got.

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All right?

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So anyways, love you all.

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Hope you guys stay positive because if you don't know anyone as well.

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All right.

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Catch you soon.

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Bye.