The Margins In Life Lie In Opportunity Cost

February 7, 2020
The Margins In Life Lie In Opportunity Cost

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Gym management software and the buffet of choices

The good spot to be in a buffet[/caption]

Every choice you make has a price.

If you go to an all you can eat buffet, there's a finite amount of food you can eat - you cannot eat everything.

Every item you put on your plate comes with the cost of not being able to choose something else later. Which means if you decide to gorge on the mashed potatoes (low value), you can't pick some prime rib later (high value).

This is obvious, that's why when we buffet, we all head right for the Prime Rib and avoid the potatoes and rice line.

Where people quickly stop making this obvious connection is in life, and especially in business.

Every minute you spend watching silly tik tok videos you cannot get back, and you could have spent it reading a book about how to sell or market your gym services better.

If you spend 10 minutes cranking out a really good blog post, and then another 40 minutes fine tune editing it to make it only marginally better - you are sacrificing valuable time you could spend on other important things for minimal return.

Those 40 minutes can be spent perfecting grammar to little effect of the overall blog post message - or it could be used to plan and organize your next month, making you or your team more prepared.

(Or you could spend those 40 minutes reading and learning how to crank out an effective blog post in 10 minutes)

Next week, the perfectness of that blog won't matter one bit.

But if you spent that time planning your next month, the entire next month you stand to gain from those moments spent.

Running Your Gym With Excel = 😢

I'm not even going to get into the opportunity costs of running your gym on pen and paper or excel. I see this post once a month in gym owner forums, even when there is a free membership management software solution.

This sentiment is like the person driving the car with the license plate frame saying "I'd rather be surfing". You are telling me where you value your time, and I can't win that argument.

You have chosen your opportunity cost, and it's not in the favor of your business or your members.


Opportunity Cost Is SKY HIGH Today

The Internet and our age of knowledge as made time wasted more important than ever. Your opportunity costs are sky high. Where will you spend your time? Watching cat videos (not that we dislike cats) or investing it in yourself?

Next year, the skills you picked up from investing in yourself will be paying dividends.

The crowns you collected playing Clash of Clans will not.

This brings me back to the title of this post. The difference between you and someone super successful is about these opportunity costs. Every 10 minutes wasted here is lost there.

What will you choose? Rice and potatoes or Steak and Lobster?

This Guy Is Crushing It

Rey Rodriguez from Dominion MMA doesn't need to be told about cat videos. His MMA and martial arts school in San Antonio, TX has been on a tear.

If you're in town and want to check out his spot, hit him up and go by there. We encourage our clients to check out and talk to other owners. Learn from each other - especially from the good ones!

We keep an eye on our clients, and try to talk to the ones who seem to be doing better than the rest. We like to learn like the rest of them.

I think I'm going to ask Rey to join me on the podcast to talk about some of his opportunity cost trade offs and why he's doing so well.


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