These are your questions. You asked—we answered.
Creed Jackson Williams III asks:
"What is the best advice for new business owners in the fitness or strength performance industry?"
- You need to be as educated in business as you are in your own trade.
- You need to either: 1) be extremely educated/knowledgeable about your own craft (for which you are going into business), or 2) hire people that are even more knowledgeable and skilled at the craft. (However, to do this, you must know enough about the industry/trade to determine whether your employees know what they are doing).
- A constant study of business is important. While business principles and fundamentals basically stay the same, they do evolve. There's also constant adversity—there's always going to be some aspect of business that will be stressed at certain times. For this reason, you can't be the technician anymore, you must be an entrepreneur so that you can focus on keeping the company thriving and functioning correctly.
- Make sure that it is a value-based business, and that you use those values as guidelines for how to run your company.
Stay tuned for more episodes.
Previous Episodes:
Your Questions Answered, Part 1
Your Questions Answered, Part 2
Your Questions Answered, Part 3
Your Questions Answered, Part 4
Your Questions Answered, Part 5
Your Questions Answered, Part 6
Your Questions Answered, Part 7
Your Questions Answered, Part 8
Your Questions Answered, Part 9
Your Questions Answered, Part 10
Your Questions Answered, Part 11