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If your business model is profitable, don’t mess with it.
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Key takeaways
- It was so great." What I should have done was say, "Oh, I nailed it.
- I should open another location." Now, if I wasn't making enough profit, then I should have fixed my price.
- And so once they love it, if your business model is profitable, don't mess with it.
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Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00I'll tell you a very sad story. I got to the point where my gym was packed. Like I had two sessions running at any given time. I had a strength session and a cardio session, 40-50 people. And I only had 3,500 sq ft of actual like gym space. What's crazy is that because I couldn't fit any more people in, what I decided to do was I decided to cut the session times in half. And what happened next was I churned out like a third of my customer base cuz they were like, "Why'd you change it? It was so great." What I should have done was say, "Oh, I nailed it. I should open another location." Now, if I wasn't making enough profit, then I should have fixed my price. Like if you finally figure out what actually like what people love, that is the hardest thing to do. And so once they love it, if your business model is profitable, don't mess with it.
0:38Just do more. Then open up more locations. If people love it and it's not profitable, then fix your pricing.