Elon Musk’s Top Advice For Fitness Business Owners
We all know Elon Musk has achieved amazing things as an entrepreneur. Even though he’s never worked in the fitness niche, there’s still plenty to learn from this inspiring business titan.
Elon Musk is a very special character.
I’m sure you already know him as the driving force behind business ventures like PayPal, Tesla, SpaceX, and SolarCity. The guy is a real-life Tony Stark and he’s inspired a lot of entrepreneurs with his wisdom and inspiring vision.
But you also know he’s never worked in fitness.
And that might lead you to think there isn’t a whole lot he can show you about running your business.
I’ll be blunt about it…
You’re wrong!
You see, Elon Musk is a guy who knows exactly what it takes to become a successful entrepreneur. He gets how motivated you are to build something big, understands the value of having a vision, and knows exactly what it takes to succeed.
So, I thought I’d do something a little different for this article.
We’re going to look at six slices of Elon Musk’s business wisdom and look at how they apply to you as a fitness coach.
The Six Tips
Tip #1 – Everybody Feels Fear
“I’d say I actually feel fear quite strongly. So, it’s not as though I have an absence of fear. But there are times when something is important enough, that you believe in it enough, that you do it in spite of fear.”
Fear will always exist in the entrepreneur’s life.
When you step into a new level in your coaching business, you’re going to feel it. You’ve never been at that level before. So, you’re uncertain about what it takes to succeed. Not to mention you’re pulling yourself out of your comfort zone.
But fear isn’t just inescapable for an entrepreneur…
It’s essential!
You see, all fear bears gifts.
That’s why whenever you feel fear, take it as a sign that you’re on the right path. You’re doing something that other people won’t do, which means you’re more likely to get spectacular results.
All you need to do now is educate yourself and spend more time with inspiring people. These are the entrepreneur’s shields against fear and they’ll help you confront it while you grow.
Tip #2 – Don’t Listen to Naysayers
“So many people tried to talk me out of starting a rocket company. It was crazy. One good friend of mine collected a whole series of videos of rockets blowing up and made me watch those. He just didn’t want me to lose all my money.”
Inevitably, there are going to be people in your life who tell you that you can’t do it.
These are the naysayers who are trying to transplant their fear onto you. They don’t get why you’re doing it and they don’t believe they would succeed if they tried it. So, they want to stop you from doing it, too.
You have to know that this doesn’t always come from a bad place. A lot of the naysayers are trying to protect you in their own ways, even if it doesn’t seem that way.
I remember my mom asked me what I’d be doing in my 50s and 60s if I started a fitness business. She believed I’d never be able to coach people into my later years.
But look at me now!
You’ve got to realize that a lot of people won’t believe in your dreams because they gave up on their own.
Don’t let them influence you.
The reality is that you’re the only person responsible for your success. The naysayers will just sew seeds of doubt that hold you back.
Tip #3 – Persistence is Key
“Persistence is extremely important. You should not give up unless you’re forced to give up. Only if there’s no other choice.”
I couldn’t agree more with this one.
You’re going to have times as a fitness coach when you don’t feel motivated. There’ll be days when you wake up and you just can’t be arsed to do what you need to do.
That’s where persistence and discipline come in.
Persistence is what allows you to develop the small daily habits that will compound into success over time. And to clear the path for persistence to make a difference in your life, you’ve got to get clear on your personal non-negotiables.
Remember that your business is there to serve you as much as it serves your clients. So, get those non-negotiables dialled in and stick to them.
They’ll serve as your motivators to keep pushing when times get tough because you’ll know you always have them in place. They’ll also show you what you’re working towards, which makes them even more powerful motivators.
When it comes to your business, there are three big non-negotiables:
- Marketing and attracting clients
- Closing sales
- Delivering a great service
My advice is to make a list of three things you could do in each of those areas that will lead to growth in your business. Once you have those listed, you have the non-negotiables that you will commit to doing no matter how unmotivated you feel.
Tip #4 – Create an Amazing Product or Service
“Make sure that whatever you’re doing is a great product or service. It has to be really great… Where there’s an existing marketplace against large entrenched competitors, then your product or services needs to be much better than that. It can’t be a little better.”
This one is so important to fitness coaches because we’re in one of the most saturated niches going.
There are a ton of people out there offering something similar to what you’re offering. If you don’t offer a phenomenal product or service that blows those guys away, clients will just go to the cheaper competitor.
Stay completely obsessed with delivering an amazing service. This is one of the highest ROI activities you can conduct in your business.
Remember that when it comes to growing a business, sales make money but coaching keeps money.
Simply put, we keep our clients with our service.
We keep them by getting the results, stretching their futures, and giving them more goals. And this has the positive side-effect of turning our best clients into referral machines who bring other people on board.
So, great service doesn’t just mean you get to keep more clients…
It also means you get to sell to more people because you have a stellar reputation for delivering results.
Tip #5 – Focus on the Customer
“If your customers love you, your odds of success are dramatically higher. I think that the way to sell a product is through word of mouth.”
This one reinforces the previous tip.
Understanding your customer and serving them is one of the highest ROI activities you can do. If they’re getting a result that they love from you, they’re going to tell people about it.
Musk uses a point about his Tesla cars to demonstrate this.
His goal is to make sure that everybody who buys one of his cars falls in love with it. Because if they do that, they’re going to talk to all of their friends about how fantastic the car is. They’re going to post pictures of the car on social media and spread the word about how great this product is for them.
Now, I’m not saying that you should focus solely on referrals to make sales.
But by getting clear on your niche and providing them with a product they love, you create this powerful sales channel that you didn’t have before.
Figure out which people are your best clients. Work out where they live, what age they are, what their cultural backgrounds are, and which interests they have.
You want to know what makes them tick so you can talk to other people who are like them.
And when you talk to those people, you want to be able to show them examples of clients that they can relate to.
But you can only do that when you’re focused on giving your customers something to fall in love with.
Tip #6 – Narrow Your Focus
“You focus on signal over noise. A lot of companies get confused and they spend money on things that don’t actually make the product better.”
Essentially, Musk’s saying that running a successful business is about narrowing your focus and not getting caught up in a ton of distractions.
Unfortunately, I see fitness coaches get caught up with stuff all the time.
They bounce between sales techniques or get drawn to the latest widget that they believe will help their businesses. But in doing that, they pull their focus away from the things they need to focus on…
Stuff like personal development, making sales calls, and delivering a great service.
Keep your focus narrow and dedicate yourself to being a specialist.
When you try to do everything at once, you end up as the Jack of All Trades who’s a master of none. That means you lose any sense of identity, which makes it much harder for you to stand out in a sea of other fitness professionals.
Musk Knows the Answers
What did I tell you?
Elon Musk has a ton of useful advice for fitness coaches, even though he’s never worked in the industry before. And that’s because he knows about the struggles that every entrepreneur goes through.
I want you to read the advice he shares in this article and see how it applies to your business.
Then…
Put it into practice!
Don’t just read it. Absorb what you’ve learned and take action on it.
I know that following Elon Musk’s advice will help you to build a more powerful fitness business. Take care.
Ps. Whenever you’re ready there are 3 ways you can partner with me and my team to grow your fitness business.
1. Check out Fitness Business Growth Kit → Here
This is the entire end-to-end system for plugging into any fitness business. It’s a 8-week build out of business foundations, sales, client delivery, scaling, and a custom 30 day challenge. Lifetime access. But it’s an 8-week drive for the growth you’re ready for.
2. Apply for Authority Network and Partner Directly With My Team → Here
Direct mentorship with me and my team started by assessing your current business strategy, assessing blindspots, fixing immediate weaknesses…
And building new scalable foundations. Specifically to coaches and entrepreneurs looking to crack £10K months, get out of the gym, and grow online.
3. Discover More About Power Room
I take on a specific group of already 6-figure fitness entrepreneurs and dial into their goals. Sometimes it’s more freedom, sometimes it’s a wealth machine, sometimes it’s both.
This is limited, extremely private, and intimate. If you’re reading this and have reached a level where you’re above everyone else, apply here → Here
