← Success Story with Scott D. Clary
Success Story with Scott D. Clary
Lessons - How the Right Guidance Built a Global Fitness Empire | Peter Taunton - Snap Fitness Founder
00:11:16
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- [00:00]
A
The HubSpot Podcast Network is a Success Story Partner now. If you like Success Story, you're going to love other podcasts in the HubSpot podcast network. One of my personal favorites is I Digress, hosted by my boy Troy Sandich. With shows under 30 minutes, I digress helps eliminate complexity, complications and confusion in your business with frameworks and strategies to achieve true, scalable and sustainable success. Success. If you are an entrepreneur building anything you need to listen to I Digress. This is one of the most useful business podcasts you're ever going to subscribe to. Listen to I Digress Wherever you get your podcasts. NetSuite is a success story partner now what does the future hold for business? If you ask nine experts, you're going to get 10 answers. Bull market. Bear market. Rates will rise. Rates will fall. Honestly, I just wish somebody could invent a crystal ball. But until then, over 41,000 businesses have future proofed their business with NetSuite by Oracle, the number one Cloud ERP bringing accounting, financial management, inventory and HR into one fluid platform. With real time insights and forecasting, you're peering into the future with actionable data. And when you're closing the books in days, not weeks, you're spending less time looking backwards and more time on what's next. If I had needed this product, this is what I'd use. Whether your company is earning millions or even hundreds of millions, NetSuite helps you respond to immediate challenges and seize your biggest opportunities. And speaking of opportunity, download the CFO's Guide to AI and Machine Learning at netsuite.com Scott Clary the guide is free to you at netsuite.com ScottClary netsuite.com ScottClay in this lessons episode, learn why Mindset is Everything. Before jumping into entrepreneurship, learn how fear and doubt stop most people from ever making the leap. Learn what it really takes to survive the pressure of owning a business, and learn why real mentorship must go beyond generic advice to truly help someone grow. Some other words of wisdom that are top of mind for you right now?
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B
Well, yeah, you know what? I think you for your audience, if they're, if they're interested in getting into business, it's getting, getting into it in the right head space. I think a lot of times people, they want to be their own boss, they want to get into business, but they don't understand the sacrifice and commitment that comes with it and the stress, the sleepless, the, the, the sleepless nights. You know, those, those components. A lot of people underestimate the pressures of Running, of running a business and meeting payrolls and doing those things. So it's a. Yeah, you know, it's. And I think talking about it before they get into it, so they're kind of, they can brace them, get in the right headspace. That way when it comes, they could say, you know what, we talked about this, this is what it is, you.
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A
Know, and there are some setting the.
- [03:09]
B
Expectation, you got it, Letting, letting them understand that this is part of the, this is part of the journey. And rather than ducking from it, embrace it. Because this is the challenges. And these challenges never go away. Okay. It might, it might come in a different light, a little different circumstance, but it'll come in multiple times throughout your business career because that's just how being an entrepreneur is. So you, you have to embrace it and understand it and not freak out about it. Not walk around kicking the garbage can and, you know, screaming around the office. That's not, that, that's not productive. Right?
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A
Yeah, that's smart. I, I do like that, the, the idea of sort of having real conversations about what entrepreneurship is so that people aren't just like completely surprised when shit hits the fan, because it will, it will repeatedly.
- [04:06]
B
And I get people too. They can't, they can't make it. In fact, my book, Impossible Hill, I talk about the, you know, preparation and the first thing, the first step of any change is making a plan. Just thinking about it, okay. Where one day you wake up and you say, I'm. I'm sick and tired of being sick and tired. I'm sick and tired of getting up at 9 o' clock on somebody else's time. I'm sick, whatever your reasoning is. So that's the first step of understanding I gotta make a change. Okay, beautiful. Second part is what do we want to change into? What's our plan? Like what? All right, well, we, we've come to this conclusion. This sucks. And I don't like my life anymore doing this. So I'm going to change step one. But then you don't want to step from there to something else that's little different color but the same headache, right? So thinking about what you want to do, but the third step's the most important, and that is you have to make the jump. And I can't tell you the amount of people that I work with over the years. They do step one, they get to step two, but when it comes to step three actually making the jump, they don't do it. They go, peter, you know what I just had? You know, Man, I had some sleepless nights, and I just. I just wasn't feeling it, you know, I was. And you know. You know, and it's. And. And some people say, well, it's. You know, it's. It's. It's God. It's divine intervention. And I listen to him and I say, look, it's not divine invention. You're. You're apprehensive because you're doing something you've never done before. That's a perfectly normal headspace. You know, doubt is. Is a dream killer. Okay? You're not. Keep in mind what we talked about here. You're not bidding the farm, okay? You're not bending the farm. You are making a transition. And we have planned for this. We have set money aside for this. So when you transition into this job, this money is here to help offset you as you ramp this up. Right. So we kind of have to go through those things, but there's a lot of people, they can never make the jump, and that's okay.
- [06:18]
A
And they just let this apprehension just build up, and then it.
- [06:21]
B
To the point where they say, well, I'm just not going to do it because. And then when they. When they make the decision, I'm not going to do it, and they just fall right back in their old space. They come to realize, hey, look, maybe the space isn't so bad, because here's the benefits of it. You are nine to five, because where you're stepping into, it's not nine to five. You own a business. It's seven days a week, 24 hours a day. Get your head around that. Oh, come on, Peter. Nobody works. Hey, I promise you, it's seven days a week, 24 hours a day. It never leaves you. It's. You think about it at night before you go to bed. You think about it first thing in the morning. It's seven days a week. If you own the business and if you're going to be. If you're going to be a warrior, if you're going to be a warrior in your business. That's the mindset you got to be. Because you can't be a quitter. You got to be a fighter, okay? And you got to give it whatever it takes, because you're going to have those tough moments. And if you cave and every time you have a tough moment, you're never going to win.
- [07:16]
A
You know, I say that entrepreneurship is probably not for you. If you cave every time you have a tough moment.
- [07:21]
B
Yeah. Or you, you know, you're walking. You. You can't handle stress. You're crying, you're freaked out. You got to get couch time because you're just a mess, right? Tell them. Look, it's not. It's what you're contriving in the 6 inches between your ears. You understand? It's all, it's all is self fulfilling. You understand that you're. You're in your own head. Okay? What you're visualizing here and what you think is happening out there, it's two different things. What is going to happen out there is only going to be the result if you stay where you're at. You got to make these change. There's things that you can do that can offset that, that can, that can deflect some of that risk that's that coming. You're just freaking out and you're not thinking. You got to start thinking. Do you know what I mean? Play offense. Quit playing fucking defense all the time. You got to play some offense. People don't get it.
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A
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- [12:06]
B
And just having some. Having somebody pull you aside and say, okay, yeah, let's take a deep breath. Let's get out of that thing. So you almost have to remove yourself from it, look at it, and have somebody break it down and say, look, this is what we're dealing with. It's not that we're. Because we're not going to let it get to there. It's not, we're not going to let it get to that point. That's, this is what we have and here's what we need to do. Right? And it's just having somebody have that moment, that, that, that voice of reason from historical experience. They've been there, done it, and you know how the story ends and you can help them through it. That's, that's what mentoring is all about. And that's, that's an important point for all of your people out there. If they're going to have somebody who's a, who's truly a mentor, it's somebody that's truly going to lean in and understand what it is that you're dealing with. You know, sometimes it's easy to take just a broad brush. Oh, well, you need to do this, this and this. Well, look, you can't, you can't do that because it's a very dynamic business world that we live in today with AI and all these great tools that are there. It's a different dynamic. So you got to make sure who's mentoring you, who you're trusting that they're in and they understand the full context of what, what it is that you're going through and what's going on within the dynamics of the business. You can't, you can't mentor someone in a business if you're not going to get into the business and understand it, because you can't. Armchair quarterback. What's going to happen is you're only going to see the big things as a mentor. You're only going to see the big things. You're not going to see the granular details. You're not going to see the risk, the hidden risk. Why? Because you didn't do your homework as a mentor. You've been there, you've hit one out of the park. You're not really leaning in, you're just kind of doing that. You know what I'm saying?
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A
I do. And I think this is why I have, I have such an issue with people that mentor at scale when they're dealing with like tons of entrepreneurs at the same time.
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B
Yeah.
- [14:04]
A
Maybe there's some high level wisdom that you can teach over to 500 different people that are going through your program. But to really make an impact, you do have to, you do have to be in the weeds.
- [14:17]
B
You got to be there. And yeah, it just like the friend of mine, like I said, my wheelhouse is franchising. Okay? Franchise. It doesn't matter what it is. Okay, My, my. I built my career. I built my empire in the fitness space. But look, in three years, and I'm not with nautical bulls anymore, but in three years, I took that from an idea. No franchise locations to 70, 73 open stores and 170 licenses sold.
- [14:43]
A
So that's all franchise model, right?
- [14:46]
B
That, that's all franchising. It doesn't matter if I'm selling fitness or acai bowls. Okay, so franchising is my, is my wheelhouse. But my. One of, one of the people who now is a very, very good friend of mine. He has a home health care monitoring business. And I don't that, that's not my wheelhouse. But what is my wheelhouse is the block and tackling of creating a business, an entity from there all the way through the exit. So how do we position it? Do we, do we sell? And right now his, his question is, do I, do I sell a portion of the company to take some chips off the table? But he's growing this business so fast. I mean, I just said, look, if it were me, because the, the, the first capital that you sell is going to be the most expensive. You know what I mean? And you don't need it. You're spinning off so much cash right now. Take a, take a small loan, use it for whatever you need it for. But he's, he'll exit this business in the next two to three years and it'll be literally, you know, at least a half billion dollar company.
- [15:53]
A
Thanks for tuning in. If you found this valuable, don't forget to hit that subscribe button so you never miss an episode. And if you want to dive deeper into this conversation, check out the links in the description to watch the full episode. See you in the next one. Quint is a success story partner. Now living in Miami, I need clothes that can handle the heat while still looking good. I picked up these linen shirts from Quint and they're phenomenal. Stylish, European. I love the cut, I love the fit. Now, whether or not you're in cold Seattle, Dry Phoenix, they have got premium essential clothing for every single climate. But these linen shirts are a game changer. They're breathable, they're lightweight, they handle Miami heat like nothing else. I wear them everywhere. Business meetings, dinners, you name it. Now here's what makes Quint different. They work directly with premium manufacturers, but cut out all the middlemen. That means you're getting luxury quality linen at 50 to 80% less than comparable brands. We're talking the same materials, the same craftsmanship without the insane markup. Plus, they only partner with factories committed to ethical manufacturing and sustainable practices. And that matters. Elevate your closet with quint. Go to quint.comsuccess for free shipping on your order and 365 day returns. That is Q-U-I-N C E.com success to get free shipping and 365 day returns. Quint.com success.