Did you know failure leads to success? Every No is a chance to develop skills and resolve that will serve you better in the future. You literally can’t be successful without failure. Rick Mayo and Jared Breen, Alloy Franchise Business Coach, discuss why entrepreneurs should be ready to hear many No’s and fail without getting frustrated or quitting. It’s difficult to hear so many No’s and to fail many times, but in reality – getting a No or failing is just an opportunity to learn and get better. Everybody who ever encountered massive success heard many No’s and failed a lot. Hearing No builds character, skill, and passion. Rick and Jared encourage you to resolve to take No and view failure as an actual gift because you are building the skills and tolerance that will benefit you further down the road.
In 10 Key Business Lessons Learned in the Fitness Industry, Matt and Rick discussed how the 10,000 hour rule applies to business. Put in the time into work so you can be great at something and prepare to fail at first. You will not hear yes at first and hear a lot of No’s. For example, many young entrepreneurs in the fitness industry want to buy a business, but they don’t have a lot of credit history. They get told No many times before they might find a small local private equity firm that has a friend of the family that is willing to back them to buy the gym. It takes resolve to persevere over the No’s. For this story , the young entrepreneur bought the business, built the gym, and sold it, then started another project, but he learned many valuable lessons. It is really important for younger generations to understand the gift of the word No and how failure leads to success. No builds resolve, character, skills, and a genuine passion for what you do. Failure may bruise to your ego, but you build more tolerance over time, because of hustle and hearing those No’s. Now passion alone doesn’t get you anywhere in business or executing a business plan. You can’t just passion your way into profits, but you need to have skills and get better even with failure. Every time you fail, it’s an opportunity to learn. You’re actually moving forward as long as you stack skills on that every single time.
Now in the personal training industry, the personal training component differs from running a business and being an entrepreneur. Having clients come into the gym and helping them achieve goals is very satisfying as a trainer, but it’s not necessarily the same as running or owning a business. Training is a very transactional relationship. So you walk into the gym, you get your workout, you got a good pump, your endorphins are going through the roof, and you leave, and it satisfies the client. As a trainer providing a service, it satisfies you. When you own a business, you’re not playing the same game where it just in and out and all is good. It is a lot of hard work. Learn more about how to avoid failure by checking out 3 Reasons Personal Training Studios Often Fail.
Listen in to learn why hearing No is a gift, and why success is built on a lot of No’s and failure.
“Failing is one of the greatest arts in the world. One fails toward success.” ~ Charles Kettering
- You have to plow through many no’s to get to a yes (01:06)
- Planting seeds and building relationships for an eventual sale (05:29)
- A no is an opportunity to learn and get better (10:24)
- No builds resolve, skills, and passion (13:45)
- Taking the nos and stacking knowledge and experience into the (17:35)
- Resolve yourself to the fact that a no is a gift (19:14)
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