Shark Infested Waters: Running a Business

There are two types of detrimental mindsets I have ran into throughout the creation and growth of HansenAthletics. First and foremost let’s talk about what I call “5 Clients”

When I say “5 Clients” I am referring to the mentality of local businesses blocking themselves off from collaboration and opportunities that come from working with others simply due to “scarcity.” It’s something I’ve seen repeated across multiple industries NOT just the “gym” business and mindset stems from the idea that there are only “X” amount of clients to go around therefore if competitors have any amount of success it detracts from your opportunity to grow and prosper. For example: If “gym a” has 2 clients that means that your gym, “gym b", only has an opportunity to gain 3 clients. While it sounds ridiculous on paper; it’s can be even wilder in person.

The truth is there is an VAST amount of potential clients that a majority of businesses aren’t connecting with in your community right now! By utilizing the strengths of your company and others in your industry the opportunity to grow collectively will always be the more effective and powerful option. Not to mention, you will foster relationships and opportunities that you wouldn’t bring to the table on your own.

Jealousy and fear combine for an ugly reaction that causes businesses to shut themselves off from “competitors” that are open to collaboration and teamwork. The way we view it at HansenAthletics is that each and every business brings a unique aspect to the industry and through lead sharing, collaboration, and specialization not only can you drive MORE REVENUE to each organization involved, but your business will grow and develop through opportunities that were unforeseeable alone. Your local industry will thrive as a collective while engaging and providing further value to your community.

This is what it’s all about! I’ve seen it too often, STOP BEING SELFISH.

This leads directly into the second problem; competing on price. Any business owner or industry leader KNOWS that this is a direct path less revenue, burn out, and overall fewer success stories. This tactic WILL lessen your experience, quality, and perception of your business. Rather than compete with the “sharks in the water” aka low sighted competitors that are willing to race to the bottom; consider the “blue water” approach.

IN A NUTSHELL: Spend time diving into what value YOUR business brings to the table. This isn’t easy and oftentimes takes separating yourself from your business and examining from a 10,000 foot view. After you narrow in on what separates you from your competitors, foster that aspect even further! If your business can provide a 30% better experience in said value than anyone else in your market you have the opportunity at a successful business.

Push this in your advertising and to your employees and develop culture around this value. Through adopting this mindset you will remove yourself from the “shark infested waters” and into a blue water scenario. This is where other business will see the value your company brings offering opportunities for collaboration, teamwork, and association with other businesses that strengthen your offerings.

Written by @coachdarrenh

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