Steve Grant is the owner of GymHub, “the first ‘High Performance’ Network and Mentoring program for Gym Owners across Australia and New Zealand.” In this guest post, Steve highlights the importance of ‘running a business’ rather than ‘being a business’.
Take it away, Steve…
Several years ago I was in Las Vegas with my parents and we went to see the Siegfried and Roy show.
Do you recognise the name?
They were in Forbes magazine listed under the top 100 entertainers earning $35 million a year. They were doing 8 shows a week, 42 weeks per year as the famous duo – two guys and a tiger!
When I think back now, i think, wow that’s a lot of money but it’s also a lot of work. A lot of doing the same thing over and over!
Interestingly on the same Forbes magazine list were the Blue Man Group who were doing $69 million a year with 11 concurrent shows running in Las Vegas, Chicago, New York, Toronto, Paris… all at once.
The cool thing was, though, that the original guys who started the group didn’t even perform anymore! They had an army of blue men doing the shows while the founders were free to do whatever they wanted.
Completely different situation than Siegfried and Roy, right?
And it occurred to me, when you go to see Siegfried and Roy, you’re expecting to see Siegfried and Roy. You don’t want to see two random guys and a tiger. You’d be disappointed if Siegfried and Roy weren’t there. But when you go to see the Blue Man Group, you don’t think about the guys behind blue masks. You know you’re going to see an amazing show and that’s all you care about.
Sadly, sometime after seeing their show, Roy of “Siegfried and Roy” got mauled by the tiger and… that was the end of it. Siegfried and Roy stopped performing.
That got me thinking about the concept of “rich vs famous”.
You see, the problem with Siegfried and Roy was, they weren’t scalable. They couldn’t just train somebody else and go on with the shows.
And you know why?
Because Siegfried and Roy were famous. Yes, they were rich too, but they’ve built their whole business around their brand and, without them actively performing, they had nothing.
On the other hand, the Blue Man Group founders are rich… and nobody knows who they are. They’ve built a SYSTEM around their business instead of a brand. And that system sets them free.
The Blue Man Group founders can “retire” and still have 11 (or more!) concurrent shows going on around the world. What’s more, if a tiger decides to maul either of them, the business will survive.
Now, think about that for a moment…
When it comes to your business, you always have the choice of being rich vs being famous. You can certainly build your team around your personality, and put all your efforts into your personal brand. But that comes with a price…
Forcing yourself to be the centre of attention limits your ability to grow and expand. In other words, when you’re the face of it, the brand of it, the everything of it… you have to watch out for the tiger.
So, tell me…What would happen to your business if you got mauled by a tiger tomorrow?
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