Episode 22- Being Loud In the Industry
Mike Arce is the Founder/CEO of Loud Rumor, an agency that’s served over 1,000 fitness studios throughout the world. After spending 7 years in the fitness industry himself, Mike started an ad agency in 2009, and in 2016 he began exclusively working with fitness studios and wellness companies. Mike is also the host of top fitness business podcast, The GSD Show, top entrepreneur podcast, The GOAT Show, and of a top fitness studio business conference, GSDCON.
Best way to reach him: Feel free to contact anyone at the Loud Rumor team!
Host - Dan: fitDEGREE is more than just two guys with microphones. It is the studio management software you've been looking for. For more info, reach out to me on our website at www.fitDEGREE.com, on Instagram at the handle fitDEGREE, or my email Dan.Berger, that's B-E-R-G-E-R at fitDEGREE.com to get the conversation started. All right, now onto the show.
Host - Dan: Good afternoon and what's going on everyone? Welcome back to another episode of the fitDEGREE podcast. I'm Dan, your host, and I have Nick, my co-host, joining me in the studio. Today's episode is slightly different and although our guest may not own a studio today, he knows as much about the industry as anyone. Mike Arce is the founder and CEO of Loud Rumor, an agency that's served over 1,000 fitness studios throughout the world. After spending seven years in the industry himself, Mike started an ad agency in 2009 and in 2016 he began exclusively working with fitness studios and wellness companies. Mike is also the host of top fitness business podcast, the GSD Show, Top Entrepreneur Podcast, The G.O.A.T Show, and of a top fitness studio business conference, GSDCON. Welcome to the show Mike and I'm so glad you could join us.
Mike: I'm excited to be here.
Host - Dan: So Mike, first of all, I'm excited to go to GSDCON. Are you excited to go back to GSDCON? I mean it's your party, you have to be excited.
Mike: Yeah, I can't wait, man. It's going to be such good... We have so many great people come in. I'm actually really surprised how many people actually pulled together to come into this thing, so it's going to be incredible. This is going to be the best fitness business conference that's ever even been thrown, not even close.
Host - Dan: I can't wait. We actually had a podcast recently with one of the other speakers at your conference Brittany Welk-
Support - Nick: Two of them now.
Host - Dan: Two?
Support - Nick: Daniel and Brittany.
Host - Dan: Oh yeah, Daniel Nyiri and Brittany Welk both. They were probably two of our most exciting episodes yet, so I think you're pulling in a great group.
Mike: Yeah, yeah. We've got like 10 other speakers just like them.
Support - Nick: Right, right. So what's the biggest thing happening from last year to this year that's got you most excited about year two?
Mike: Well, last year we had a $10,000 budget to throw GSDCON. This year we have an $180,000 budget.
Support - Nick: That would get me excited too.
Host - Dan: That's a hell of a party.
Mike: Yeah. So we literally had the same group that does all the events for Comic-Con and all the AV for Comic-Con, they're doing our event. We've got more speakers, great, great people that have done great things for their business. They're coming down to speak. Then there's more structure to it where I'll actually be teaching classes. There's like a structured lunch and dinner with VIPs. It's just... Honestly, last year was great, so I'm not even going to say it's going to be so much better than last year. It's going to be better feeling because we have the other things that tap into the senses and structure to like help with that, but I mean, last year was freaking awesome too.
Host - Dan: So Loud Rumor, before that you were in the fitness industry. There's quite a story with Loud Rumor, started as an ad agency in general, moved specifically to fitness. I'm not going to be presumptuous enough to start at the story, so I'm going to let you take us back to when you think the best start is and we'll go from there.
Mike: I was in the fitness industry for seven years. I was a personal trainer then I ran different gyms out here and different clubs out here for a while, and prominently sales, marketing, that was my strength and it was exciting. I really love fitness. I always knew I'd come back to it. I didn't like when I left it. I left it for wrong reasons. I found out I was going to be a dad and at the time, I was working crazy hours, like classes started at four in the morning and then they ended at nine o'clock at night and there was a big gap in the middle. I had a great dad growing up. I was very lucky.
Mike: So I wanted to be able to see... When I found out I was going to be a dad, I wanted to be able to be there in the morning to get him ready for school. I wanted to be able to be there after school to help with the homework and do family dinners, but I couldn't see how that would work because at the time, I wasn't an entrepreneur. I didn't have any entrepreneur experience at all.
Mike: I was looking at it as a fitness person. As a fitness person I'm like, well people want to train in the mornings and they want to train at night, so it's either I stay in this industry and be a bad dad or I leave the industry and I find something that will allow me to be a good dad. That's my mindset. It was totally messed up, but I was young. I was 25, 26 when I left that.
Mike: Then, I wanted to come back eventually. As I started, I started this digital agency and this is really cool. I was starting to help out businesses of all different types, not just fitness. Then, we were stuck for a while. We built our business up to like 500K in recurring revenue, per year, and we were like stuck for two, three years. So I started hiring coaches, coaching, and I started going to conferences like GSECON, but for my business.
Mike: I really wanted to see what I could do and how I can learn a lot more. Then I ended up meeting a coach. Coach told me to really focus on a niche and coincidentally, right around that same time, we had 11 dentists. So we initially were going to niche in dentistry, [crosstalk 00:05:11]-
Host - Dan: That is exciting.
Mike: ... but we did. Yeah, we did it for like two weeks and then I realized it was nuts, because one thing you guys don't know about me, I'm not afraid of anything except one thing, the dentist. I hate dentists.
Support - Nick: Hard to build marketing around that.
Mike: I go to the dentist four times per year because I'm so scared of them and so I figure if I go more often, there's less things to do each time, therefore, there's almost... It's like an in and out session. I go, literally, every two to three months. I do a checkup. I pay more for it because my insurance won't cover all that sessions.
Mike: But Anyway, point is, I chose a niche that, not only did I not have passion in, but I almost like hated. I feared it. I didn't know what I was going to do there. Then coincidentally, this one business that is like neighbors to us, a fitness studio, we started working with them and we just crushed it for them. So we're like, "Wow, that's amazing. Then why don't we niche into fitness? This might be really good." I have experience in this because I realized I was able to help her outside of just the marketing. I was helping her. I know how to sell fitness. I'd been selling fitness for seven years. I know how to sell it.
Mike: I helped with some tips and it was really cool. And then before we niched, I was like, let's just really make sure it's not a fluke. We took on two other fitness studios and her friends that I had known from being in the industry, I took them on for free to see how it works and we crushed it for them too. And so we just said, we're like, "Hey, you know, let's just turn everything on its head. Let's flip everything around," and we went straight fitness.
Support - Nick: So now what is your strongest asset because it's not just the fact that you love sales and marketing and fitness, what got you into Loud Rumor before it niched down? What was the biggest asset you brought to a company?
Mike: I don't know.
Support - Nick: Where all this confidence-
Mike: Honestly, I don't know. You know, when I first started Loud Rumor, I don't really know if I was that valuable as far as skills go. I was just... I really... I cared about doing really good work and so I think I've worked really, really hard, so if what I was doing didn't work right away, I would switch it up. I would figure it out. I think I was really good at figuring it out.
Host - Dan: So adaptability?
Mike: Yeah, I just-
Support - Nick: Which is huge for marketing and we learned that. I mean, we were like, "Great, we're ready to sell our product," and then it was like, "Oh, we don't even know how to speak to these people." Then it took six months or so to even start getting the right messaging across. It was like, "Wow, we didn't anticipate that." I think adaptability as a marketer, in general, is a great ability to have.
Mike: Yeah. Yeah. Here's the thing, you've got to make a decision every day. I just had a conversation with my team about this. Every single day, you've got to make the decision to work on being great at something, even if it's not like work. It could even be like the piano. It could be drawing. It could be fitness. But definitely, if you applied to work, is great because you're practicing something. You're practicing one of these two things everyday, no matter what. You're either practicing being great at something or you're practicing not being great at something. So whatever you practice, you're going to get good at and you don't want to be good at not being great, right? So every day that you don't practice being great, you're getting better at not being great and that's a terrible skill to develop.
Mike: The cool thing is you don't have to be great at work everyday. A lot of people are like, "No, I need to work-life balance." That's great. Work at being a great guitarist, if you want, at home. Work on being a great cook and experiment and you really understand what you're doing, not just for hobby or even being a great husband and learning that stuff, or whatever, but you've got to work at being great because you hear that phrase all the time in entrepreneurship. How you do anything is how you everything. If everything you do in your life, whether your personal bucket, your business bucket, your relationship bucket, your health bucket, whatever, if you are practicing greatness, it's going to be easier to be great in another spot.
Mike: Great example is we have, an employee of ours, her name is McKenna, and you can call it a coincidence, but I don't think it is, where she had started as an intern. From going from an intern like a year and a half ago, she's now running our entire video department. When I first met her, she had no confidence. She was very self conscious about her work, about her efforts, about her skill set, about her ability to grow as a leader, all that stuff, and now she's super confident. Right? But coincidentally, you can call it coincidence, but coincidentally, she also had one of the biggest physical transformations I've seen. I don't know how much weight she lost, probably 40, 50 pounds, but she is in, I don't know if she can get in better shape than she is right now. She's really got in great shape.
Mike: So the thing is, if you practice at home being great at something, it's easier to be great at the next thing because your pattern of doing things is at a high level.
Support - Nick: So now tell us about what Loud Rumor does for a company. If someone says, "I want to reach out to Loud Rumor," what is the pain point that you address?
Mike: Well, what we do and what we offer are two different things.
Support - Nick: Okay.
Mike: What we do is we help fitness studios grow and scale their business and we do that by pulling in a collective of information, strategies, resources from some of the most successful studio owners. I've traveled all over the country to go see, over 30 states now.
Mike: What we offer is a lot. I like to... What I'm looking to build, which sounds crazy and it doesn't exist yet, but what I'm looking at building is like the Netflix for information for fitness studios. You take Netflix, you know... Well, I'll give you an example backwards. So somebody goes, "Yeah, I saw you have all these trainings and these videos." And I go, "That's nothing. We're adding all this up. We are. We're flying in so many people in the next month and a half to add in stuff for financial, HR, sales, marketing, advertising, PR, everything you could think of, hiring, firing." It's just the best of the best. It's content for people that are just killing it in that particular department in this space.
Mike: And so somebody goes, "How long do you think it's going to take to go through it?" You can't go through it. You just can't. It's like say how long would it take to go through Netflix? You can't go through Netflix.
Host - Dan: Right, you can't.
Mike: You're not be able to because you won't be able to watch as many as we're going to put in. However, why do people still keep Netflix, because they don't care about going through it. They watch what they need to watch, right?
Support - Nick: Yes. Yes.
Mike: If I need humor right now, I'm going to watch humor.
Support - Nick: It's a library.
Mike: Right, and here's the cool thing, if I... Let's say I feel like I want to watch a comedy, I need a comedy right now, I not only will choose a comedy, but I can say and I want it to be with Will Ferrell in it and you can do that. So how about the same thing where it's like I need to learn sales and I really like mack of force style, or I really want to do sales, but I really like Dave Nyiri's style. I really like Eric Ross's style. I really like Mike Arce's style. So I want to go through all their stuff, or I want to see what they say about this particular topic and see how everyone says it. We just want to... I want to be able to create... Like right now, we've got YouTube and you've got Google and you can go search for a lot of information.
Mike: The problem is two things, either A... 33 things, A, the information could be outdated-
Host - Dan: Fast.
Mike: ... B, you don't really know the credibility of that source, whereas for us, we've scouted out beforehand. We can see their numbers and we know they're doing really great, so that's number two. And number three, you watch and you don't know if you were just watching click bait until the very end. So it could be like, "Hey, you really need to do this. You really need to do this." You're like, "Great, I can't wait for him to show us," and then you get to the end and you go [crosstalk 00:12:36]-
Host - Dan: I hate that.
Mike: ... to see how to do it. Well here's the thing, you can say you hate it, but I mean that's a strategy that they're good.
Host - Dan: It is.
Mike: It's a good strategy, so there's nothing wrong with it because it's free, right? It's free content. But with ours, you don't have to worry about that because we're not selling it. You already bought the damn thing.
Host - Dan: And I don't hate that. I love that.
Mike: Yeah. Yeah, we're going to show you not only what to do, why did it, but we'll show you how to do it in all these different areas and then we are actually doing it for you, which is really great.
Mike: So there's two different main pieces to our business. There's the do it for you, right? We'll take care of this. And what we're about to launch here at GSDCON's has been pretty incredible, so stay tuned for that. So there's let's do it for you and then there's the do it yourself, right? We believe that a lot of people should do it themselves because if you don't have the budget to do marketing the right way, then just do what you can in the beginning, build up some profits, but do it the right way on your own, and then once you can afford, once you have profits, can afford the agency to take over, then have the agency takeover so you don't have to keep it going because right now where a business owner's time should be spent is inside the business because the number one stat that blows my mind out of every stat that I've heard in the fitness studio space is the retention stat.
Mike: According to mind-body, a study was done with over 58,000 studios is that the average studio retains their members, retains only 10% of their members, over a 12 month period. The best of the best retain only 30%. So that means is if you signed up 100 people on January 1st for the following January 1st, you only have 10 of those original 100. Now you may still have over 100 members because you kept refilling the bucket with a hole at the bottom-
Host - Dan: But that's expensive.
Support - Nick: And yeah, like I was going to say, I'm sure you know the... I mean, I don't know the hard numbers, but we all know it's much more expensive to get a new member than it is to keep a member. So-
Mike: Well yeah. Well it's not only more expensive, but it's more profitable to keep someone because what happens is when you keep someone longer, not does [inaudible 00:14:36] value go up just because they're giving you more payments, but their lifetime value goes up because you have every day that they're with you longer is another day where you can up sell them, or cross sell them with other things.
Host - Dan: Yes. Yes. Yes.
Mike: Everyday that they're with you longer increases the likelihood of them referring another person with you. And every person that gets referred by somebody that's with you longer is more likely to stay with you longer as well. If I think if the average studio owner can foot... The problem is marketing is sexy. Sales and marketing is sexy. There's tons of marketing conferences. There's tons of sales conferences. There's very few retention conferences, or customer service conferences, because it's not sexy.
Mike: The problem is, it's really the part that if I'm a business owner, that's where you got to... That's why we're doing all this stuff. Right? That's why we have our group and we're involved in it. That's why we were doing all the learning center stuff. That's why we put out all the content in the podcast and we do these conferences. We're doing all of this because I need them to be successful in their goals, right? And me just running ads for them isn't going to be enough. If I could show them all the other stuff, I can help them get what they really want. If I can help them get what they really want, they're more likely to stay longer, do more stuff with us, refer more business, upgrade as we bring on bigger packages, but no one wants to keep shoveling the snow while it's still snowing.
Mike: And so I want to be able to get studio owners to focus less on the sales marketing. Let us help train their employees to do this stuff and we can do a lot of the for them and them just focus on how can I make this experience over the top, because the workouts are not enough. The problem that a lot of people have is that they think they're better than they are. It's crazy. Every single studio that I talk to, most, pretty much 90% of studio owners I talk to, they all say the same thing. "Oh, we're different. We're better because. We're better because this. We're different-"
Support - Nick: There's 30,000 of them across the country. It's like-
Mike: Yeah, well if everyone says they're different, everyone's the same. Right?
Support - Nick: Yeah.
Mike: Because they're all saying the same stuff. So the problem is you're not different. You're all the same when it comes to the workouts. There's a million ways to raise a baby. There's a million ways to grow a business. There's a million ways to get in shape. And so you don't have just... Your way is not the only way. They can go down the street and get in good shape too if they follow the program.
Mike: The difference is will they follow their program? Will they follow your program? Because the number one reason people quit is because they're not getting the results. So what else are you including into your program in order to make sure that people are more likely to stick with it? What type of experience? Forget the fitness stuff. That's the product, right? They expect that, but what else can you do to make it a better experience?
Host - Dan: You know, it's interesting. When we go on our sale... When I go out and I do pavement pounding sales. I know a studio. I want to catch an instructor. I know this class ends at 10:30. I wait to see how long it takes for that studio. I usually allot about 10 to 15 minutes for a studio to clear out and the owner to be alone.
Host - Dan: I've noticed the studios that, could be coincidence, could not, that seem the nicest on the inside, that had the most people leaving class, and seemed to be doing the most successful, the ones that never said money was an issue, took 20, 30 minutes after class for everyone to leave because they had such a strong community and everyone was getting such a great experience, they didn't want to leave after class. Their experience transcended the actual workout and went way into the overlap. People took time out of their day to stay there and enjoy that experience.
Mike: So in business, there's two types of needs. There's articulated needs and there's unarticulated needs. If people can understand this, is awesome. An articulated need is I need this. This is what I need. Everybody on Amazon, when they came to Amazon for the first time, they just said, "I need to buy something and I heard I can get it here."
Mike: The unarticulated need was the thing that I didn't know I needed until I saw it and now it's like I do need it now. Right? So for instance, before someone heard of DVR, that was an unarticulated need. Nobody said, "I wish I... I want to buy a TV but it needs to record itself." And then once you get it, then you can't imagine living life without it. Right? The cell phone, same thing, right?
Support - Nick: A smartphone. Yeah.
Mike: So I'll give you an example of how it's done in the business world and what I'll do is I'll do it outside of fitness, because I think sometimes when you move things outside of the industry, you can see how you can do it in your own. I got a buddy of mine and his name is Ted. He owns a company out here called Natural Choice Academy. It's a preschool but it's not just any type of preschool, it's all natural, all organic preschool. So I had kids at the time, little kids, and my wife was working with me, so we were looking for places to go to bring our kids. We really liked the fact that it was natural, and healthy, and all that stuff. I went to go check it out.
Mike: But here's the thing, when I went in there, I knew that I want... Here's the articulated needs of a person bringing their kids to preschool. Number one, I need to know that my children are safe. Number two, I need to make sure that the teachers are actually teaching them things. And number three, I need, I want to make sure that they're eating good, healthy foods, right?
Host - Dan: Sure.
Mike: Safe place, they're learning, and they're eating. They're not eating crap.
Support - Nick: Those are your check boxes every time you walk into a preschool.
Mike: Okay. Those are articulated needs.
Mike: Now what he did was not only did he meet the articulated needs, but he leveled up to the point where he gave them unarticulated needs around those, which pretty much closed the deal every single time. Now here's how he did it, or what he did. So for the food, he's giving people this amazing tour. And as he's giving people this amazing tour, he goes, "So what kind of foods are you looking for your children to eat?" And they would say, "Oh, vegetables." Everybody knows that they want to eat vegetables, healthy foods. They're like, "Fantastic, come out here."
Mike: So the owner of the preschool takes them outside to the backyard and he goes, "Check this out." He shows them the backyard and it's an entire garden.
Support - Nick: Oh man.
Mike: And it's huge. And he said, "So here's what we've learned. We've learned that the majority of children actually don't like to eat vegetables, but it's all psychological. They actually do like vegetables, but they don't like the idea of tasting vegetables for the first time. So what we've realized is if we can make them part of the process where they plant the seeds, they actually water it. They nurture it. They watch it sprout."-
Host - Dan: They're excited.
Mike: ... "They watch it come. They pluck them. They clean them. They prepare them in the cooking. We've learned that there was a 70% increase in children eating vegetables. And not only did they eat the vegetables, but they wanted to eat more of them and they couldn't wait to taste new types." And so now, I wanted my kids eat vegetables. That was articulated. But what was unarticulated is I needed them to have a garden where they participate in growing them and eating more of them. Right? Now, I can't go to another preschool that doesn't have a fricking garden because that's now the new bar, right?
Support - Nick: Yeah, I was going to say he set set the bar. He set the new bar you didn't even know about.
Mike: Right. And he did that with a bunch of different areas. So the point is, think about what your customers are articulating and then what are the unarticulated needs? You know? So for us, our customers were articulating that they wanted a better way to have systems and processes so they don't have to do so many things, so automation for texts or emails, and software, CRNs, all this stuff. They were articulating that they didn't want to do a lot of work. They wanted a lot of it done for them.
Mike: What they didn't articulate was that I want you, Mike Arce, to go and find out what the best of the best are using, like your Michael Jordans in the space, and then I want you to come back and tell me what those are so I can skip the nonsense and just start using those tools and softwares. So now, we're doing that. We've done that. We're like, "Hey, the top 5% of our students, the ones that are just destroying it. They've been doing this for decades, are amazing. This is the tool. This is the software and this is the vendor. These are the guys that they use and you can use them now too. And by the way, we also negotiated deals, discounts, and offers for you so you can give them all a shot at discounted price." Right?
Host - Dan: Things they didn't know they wanted.
Mike: Right. They didn't want that. They just wanted to work less and get more. But now, this is working less and getting more but now they know the tools.
Mike: Same thing with all the other stuff, right? There's some other agencies out there that they're constantly teaching. Where me, the owner of Loud Rumor and another agency CEO, I would be the only teacher. I would just be teaching all the time. I'd come on. I'd be teaching. I'd be doing the podcast.
Mike: But what happens is you're only getting one feature. You're getting one perspective. Although that's okay and it's better than getting no perspective and no teacher, I've had one teacher before and then I've had 12 before and I'll tell you, I learned more with 12 because I get perspective. I'll start noticing parallels. So for them, they were saying, "Yeah, I like your style but I wanted to know something else that works a little better for me," because they felt like maybe the way I view things didn't work well for them. So they wanted me to come up with other ideas. That was the articulated need. I want you to come up with other things.
Mike: Well instead of me coming up with other things, how about this, I'll come up with other people that all have their own thing that's doing great and then you can find the one that matches really well with your personality and the way you run your business. So they didn't articulate that but now it's like we've got this community. We've got this collection.
Mike: So everything that I'm focusing on now is... I used to be really focused on the sales, marketing, in the very beginning. I was cold calling a ton. I was doing a ton of random videos. Now what you're going to notice a lot of this year and next year is building the most amazing platform, the most amazing business for fitness owners where all their unarticulated needs and articulated needs are all met and where [inaudible 00:24:00] necessary but part of their business as a business website, or an employee, or instructor, or anything like that because it's like the perfect resource for anything that they need not only for them but for their employees as well.
Mike: Because here's the thing too, a lot of people don't realize this. You're as good as your employees are. The bigger you get, you're as good as your employees are. If you're self employed, you're just one guy, you're as good as you are. But once you start growing, once you have one employee, four employees, eight employees, you're as good as your employees are.
Mike: And so if you have two studios, let's see, you got studio A in Scottsdale and you got studio B in Tempe and yet these two studios, one of them, they actually go through sales training regularly. They have to watch two videos a day and they have to discuss and do role play, or stuff like that, and every day your team is learning. And the other studio, your team isn't learning-
Host - Dan: Just shooting from the hip.
Mike: ... [crosstalk 00:24:54] the time and you don't have the resource. At the end of the year, which studio is going to outperform the other? Which studio is going to develop people that could potentially become studio owners or trainers for other studios you plan on opening?
Mike: And so for us, this platform allows us to be able to train the employees of our studios for us without the studio owner having to train them. And that's important for two reasons. One, studio owners don't have the time to do it regularly in all the different subjects. But number two, because sometimes the studio owner doesn't have strength in all those subjects. I know I don't have strength in a lot of stuff. I do not have strength in the HR subject. I don't. So when you see the HR training going on in the Loud Rumor platform, I will be doing almost none of it because I don't have that strength, so I'm bringing in other people to do it and your people will be learning from people that are way better than me, which is how it should be. So that's what we're putting together.
Mike: I think all studios could do that as well. How can you create a business where it's not just about the workout, it's about all the unarticulated needs that your customers actually want and they didn't know it until they saw it.
Support - Nick: Well, I think it's great because you're being an all encompassing platform for a very niche subject, a very niche area, and they're going to come in there and like you said, they're not going to sit down and take a course. They're not going to take a course and feel like they learned stuff in two weeks.
Host - Dan: God, that's boring.
Support - Nick: They're going. They're going to say, "I got a problem. Let me go to the platform, search for that topic, learn about that topic, solve their problem," and then go back into the world and keep doing their thing. So I think what you're developing, you said in the beginning, it sounds crazy, but sometimes you gotta be a little crazy to create something amazing and I think you're on a great track here.
Support - Nick: So I would say what's your best piece of advice, but I think we got a few knowledge bombs today. If you wanted to pick your favorite one or something that you say to yourself the most often, what would that be?
Support - Nick: Practice.
Mike: Your value isn't going to be based on how hard you work. It's just not. It doesn't matter. Your value's going to be based on how hard you practice. That's it. Because when you practice really hard, the game is easier. If you don't practice, the game is hard.
Host - Dan: The game is rough.
Mike: It's like, oh, I worked really hard. I worked really hard. Yeah, but you sucked because you don't practice. So it sucks. I feel bad for you that you work so hard every day, and you're not moving up in your career, and you're not doing the numbers that you need to do, but that's because you only work hard in the game. You're never working hard in practice.
Mike: You know, when people saw Michael Jordan play, what was the phrase? Man, he makes it look so easy. That's the game is easy for him. The game is easy, but the reason the game is easy is because he practices so hard.
Support - Nick: Yes, the game moves slower when you're practicing it at full speed and that's something a lot of people lack. They practice half speed. I'll say one of the most things we... One of the hardest things we role play and practice for was your partnership video with Dan. That was one of the first times that we were like, we are just going to do this and we did it like eight times in the 24 hours leading up to it.
Support - Nick: And then once he went on, it wasn't anything we practiced. But because we drill, drill, drilled, all the questions you asked it just came to him in the moment because we practiced so hard, that no matter what you threw at us in quote, unquote, the game, it was just easy for him to rattle off.
Mike: Right, and so the cool thing is, the better you are, practice will tell you how good you are because you're going to know. The practice will not only increase skill, but it'll also simultaneously increase confidence. So when you're in the game, your confidence is going to increase your likelihood of doing better. Even somebody that's just ignorant, like there's people in sales that don't know how much they don't know and they close better because they're so ignorant to how bad they could actually be. They're okay to fail. They don't even know what failing is.
Mike: Sometimes too much information can hurt you. But when you practice, you can go the same way where you're like, "Man, I just made 50 shots, 50 free throws in a row." When you get up to that free throw line after just having a practice where you made 50 free throws in a row-
Host - Dan: It's muscle memory.
Mike: ... I guarantee you, your mind is telling you I'm going to make both. That's it. Same thing with business, if you went and you did the same sales script without looking at the paper 20 role plays in a row perfectly with the right speed, the right timing, no hiccuping, no thinking, when you get to the real pitch, your confidence level's high. Now, because your confidence level's high, your energy, everything you deliver, your look, your mannerisms, your body language, everything is closing that deal better.
Mike: So Michael Jordan had one of the best quotes. It's, "Practice like you've never won and play like you've never lost," which basically means when you're in practice, you've got to practice like you've literally never won, like you suck. You're the worst. You have so much more to go you because your mindset has to be like that. If you think you're great in practice, you won't practice well. You may not even show up to practice.
Mike: But when you're in the game, play like you never lost. You've got to go in there and your head, it's over. You're going to get this deal. It's done. The guy just has to wait to find out. It's got to go through this routine and once I'm done, he'll sign up and we move on to the next one.
Host - Dan: I really like that one. I mean even when I go to the gym, every time I hit the punching bag, probably my favorite thing to do, I don't even look at the red gloves. You don't get to wear the red gloves in practice. You're not the champion. You put the blue gloves on. You act like you're going into the blue corner. But if you were to step in the ring, the cage, whatever that may be, nobody's taking you. You're the king. Nobody's taking you out of your seat. That's the mindset you got to have in there. I know when I go on the rugby field, tackling is my thing. If you want to run at me, you're just making my job easier. There's no room for doubt. I like to tell people, especially the kids I coach, it's all mental at that point.
Host - Dan: So speaking of just confidence, things like that, I'm very confident that if I was a studio owner listening to this podcast today, I would know that if I want to go to Loud Rumor, they're going to take care of me. They got what I need. If somebody listening today wants to keep that conversation going, find out more about you guys, just how to get started, get involved, what's the best way for them to do that?
Mike: Just go to LoudRumor.com, that's it.
Host - Dan: Go to LoudRumor.com, you heard it people.
Support - Nick: [crosstalk 00:30:57] any easier.
Support - Nick: All right, Mike, thanks a lot for being on the show today and we're going to be rolling this out before the GSDCON, so everyone look at our website, find out how to get tickets.
Mike: Guys, thanks so much. I appreciate it. I'll talk to y'all soon.
Host - Dan: All right, thanks so much Mike.
Mike: All right [inaudible 00:31:13].
Host - Dan: So if you liked this episode, be sure to go and leave us a review. Your feedback helps us make better episodes every week. If you're a studio fitness owner who wants to streamline processes with the studio management software that's actually affordable, checkout fitDEGREE. Go and find us at fitDEGREE.com. That's F-I-T-D-E-G-R-E-E.com to talk with a team member today. We'll see you back here next week, same day, same time for another podcast episode featuring amazing studio fitness owners. See you later everyone.