Strategies guide long-term growth. Tactics generate immediate results. And skills compound.
More and more, our data set shows that clients with solid skills – like focus, virtuosity, and patience – outperform everyone else, even when they’re given the SAME strategies and tactics as everyone else.
Skills have compounding value (they become more valuable over time, because):
1 – a little bit of each skill is helpful, but a high skill level pays off even more;
2- no one can copy them – they’re an unassailable advantage;
3 – the government can’t tax you on them;
4 – you don’t lose them. If one business fails, these skills will build the next faster
5 – they can be improved regardless of outcome (if you win, you learn; if you lose, you learn);
6 – they multiply your other investments.
7 – the time and effort invested to learn them has lifelong returns.
For example, patience is a skill that will usually pay off with your investments. Given a long enough timeline, real estate almost always pays off, and stock markets trend upward. Warren Buffett has said, “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.”
Focus is a skill that will multiply your return on mentorship. As I wrote in “Strategies, Tactics and Skills“, the gym owners who get the best ROI in our mentorship program often say “I just did what my mentor told me.” And the owners who get the lowest ROI often say, “I’m just too busy to do the work!” Of course, both groups have nearly the same amount of work, but the top-earners have the skill of focus.
Another skill is a mindset of abundance: many business owners pass over opportunities to collaborate because they see only competition. For example, instead of taking BJJ gyms or cheerleading gyms in Two-Brain now, we refer these clients to excellent coaching programs. Instead of worrying about “share of wallet” with other providers, we commonly link to vendors we really like.
Another example is the skill of public speaking. I have a coach for this particular skill. If every business that I own tanked overnight, I would use this skill to rebuild from scratch. Ditto blogging and podcasting. These skills don’t go away when the market changes or you get your pricing structure wrong.
Of course, this principles works in the fitness business itself: learning how to squat, press and deadlift properly will make all future forms of exercise more effective.
The challenge with coaching skills is they have a long-term payoff, and they’re hard to quantify. Some clients might not realize they’re picking up skills in focus, planning or patience while working with you. Adding skills into your coaching program can be tough. Usually, entry-level clients need quick tactics to see a fast ROI on your program. And high-level clients, who recognize the value of skills and have the time to work on them, already possess at least a moderate skillset.
One key is to call out the skill as you’re teaching it. “I know it’s hard to understand why I’m asking for a picture of your calendar right now, but we’re slowly building the skill of focus. First, we’ll do this with me; then you’ll do it on your own, and I’ll check; then you’ll own the skill forever.”
How do you teach skills in your program?