Here’s a cool Friday-feel-good story for you with one very important lesson.

Earlier this week, a video of a student from NYU Clive Davis Institute of Recorded Music went viral. Maybe you saw it?

The video was from a Masterclass where Grammy Award-winning-recording artist Pharrell Williams sat in as a guest lecturer, offering notes to the students as they played their original songs in front of the class.

What was the big deal?

Pharrell has probably listened to thousands of demo tapes before, but this was different. I say that only because you can actually see the difference on Pharrell’s face when Maggie Rogers’ song plays.

Here’s the clip — skip to 18:15 where Maggie Rogers comes in.

Screenshot 2016-06-10 11.57.21.png

The headlines this week all said Pharrell was crying.

I didn’t see any tears but there definitely were some strong feels in the room.

So Who is Maggie Rogers?

Maggie Rogers is the definition of a millennial free spirit.

Maggie grew up in a rural area along the Eastern shore of Maryland. She grew up playing the banjo and says she’s always made folk music and loved being outside.

She came to school to make banjo and folk music. Maggie says she stopped making music for a couple years in the middle of school and just went through some things. She developed and learned more about herself.

Maggie studied abroad in France for a few years and says she “had a really spiritual experience with dance music there.”

Dance music was something that always felt unnatural and artificial to Maggie. But when she was abroad, she says she finally understood the release of it. Suddenly, it became the most natural thing to Maggie.

When Maggie returned to school, she started making music again and now says she can’t make enough. “All I want to do is combine that folk imagery and harmony and natural samples I’ve been picking up while hiking over the last couple years with this sort of backbone energy,” says Maggie.

Right before Maggie plays her song in front of Pharrell and her classmates, Maggie’s teacher asks, “Is your song all finished?”

Maggie replies, “Uh, it’s good for now. It would probably need a couple more hours of mixing and mastering.”

Then Maggie’s song plays and the entire room changes.

After the song finishes playing, Pharrell turns to Maggie and says he has “zero, zero, zero notes for that.” “Because,” Pharrell says, “you’re doing your own thing. It’s singular. And that is such a special quality. All of us possess that ability but — you have to be willing to seek and you have to be willing to be really frank in your music.”

So far, a pretty cool story. It’s always nice seeing one of your peers excel and get the recognition they deserve, and if you’re like me, you’re excited about the music Maggie is making.

But even if you didn’t like Maggie’s song, there is one really important lesson here.

I didn’t notice this until I read one of the YouTube comments.

The comment said:

“Hi Maggie… I don’t mean to bug you but you said Alaska only needed a couple of hours of mastering and mixing… we’re way past two months now… please release it directly and I’m sure a million people with me will pay you a $ for it while it’s still viral.”  —Ananya Gupta

I only wish I thought of this comment myself.

The original video was published March 21, 2016. And only this past week did it go viral.

Maggie’s video now has over 1.6 million views. If Maggie releases an unfinished copy of the song today and sells it for $.99, she’ll easily break one million in profits.

But this only happens if Maggie strikes while the iron is hot. That’s the lesson.

“Ready. Fire. Aim.”

“Done is better than perfect.”

Waiting for a perfect moment is a losing strategy. Fast-action takers rule the world.

Keep that in mind next time you have some success.

Have a great weekend!

Nick Papple
Managing Editor
Success Formula Daily

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6 Most Important Considerations for Starting a Fitness Business

Starting a new business can be thrilling and challenging. It could be terrifying when you think about all the details and every resource you need to get up and running. If you’ve done your research right, it will be easier to know what you are getting into and exactly what you need to succeed.

Most people choose to start their own businesses because they are ready to share their ideas with the public. And want to do what they love in their own way.

Others want to create a work-life balance that works for them. Ultimately there can be great opportunity to make money if everything goes as planned. The risk is worth it, most of the time for people who are entrepreneurial.

According to The Guardian, consumer spending on UK gym membership soared by 44% in 2014, driven by the growth in popularity of new, budget gyms.

The demand for affordable, high quality, no-contract or flexible contracts fitness centres is continuing to grow. People are now interested in staying fit more than ever. The popularity of budget gyms, including Pure Gym, EasyGym, Anytime Fitness and DW Sports, are most likely driving the increase even further.

If you are thinking about going out on your own and starting a fitness business this year, this will help you get started.

Find your niche

1. Decide on your niche market right from the beginning 

Which market do you want to serve and why? This should be very clear to you. Do your research and find out a profitable niche that can scale. Weight loss is popular. There are other less popular ones like injury management and even endurance athletes. You could also choose powerlifting, crossfit, yoga, or whatever you prefer that works for you.

But remember, going after a popular niche means more competition. It should be a niche you are genuinely interested in. That way making it a business won’t be difficult.

The planning process

Launching a brick and mortar fitness business can be overwhelming but once you get your planning right, you will be off to a great start. Put everything on paper. It pays to keep records.

2. Cost

Consider your fix costs (business registration, legal fees, rent, premise renovations, utilities, hiring and educating trainers, wages, décor items and furniture, initial marketing) and monthly expenditures.

What will be your monthly protected costs? How will you fund the business before you attract paying customers? How many active clients will you need to break-even or generate your desired level of profit? Think of every little thing that you will need to spend money on to before your business opens and plan a contingency.

Getting started right

3. Purchase appropriate equipment

Make a list of all the equipment you’ll need to get started. JLL Fitness have a great range of commercial gym equipments you can check out. Things like dumbbell sets, bars, exercise mats, weight benches, treadmills etc. cannot be compromised. They are the most important things you need for a fitness business.

4. Make it insanely easy to register

Set up a a great and easy to use website to educate and inform prospective clients of your offering and packages. And most importantly give new users the opportunity to register and book fitness packages right at the comfort of their homes. Make it flexible. Your prices should be competitive.

Getting a website up and running is no longer a difficult or expensive. There are great DIY websites available, such as Wix and Squarespace. This is one of the first things you should do once you are ready to kickstart your fitness business.

5. On discounts and special offers

Attracting customers or users is one of the hardest part of starting a business. It’s no different for fitness businesses. Give people a reason to become members. Why should people choose you over your competitor next door?

Special deals and launch offers can be a great idea and really draw people in. You can offer a few days or even weeks for free and start charging once users establish fitness habits. When you are getting started, make it big, exciting and tempting. Set and stick to your urgent end date to get people signing up as soon as possible.

6. Focus on amazing service to leverage worth of mouth marketing.

The first few people who register for sessions at your fitness business can make or break your new startup. Give them the results they crave and make your sessions the best part of their week.

The aim is to get them talking about your fitness sessions to their friends. Word-of-mouth advertising is crucial for every service-based business, and in the case of a fitness business, it’s key.

Final words

Building a successful business takes time, focus, persistence. Starting a fitness business is probably going to end up costing more than you thought. But that’s not a reason to give up or abandon your dream career.

Do everything in your power to sustain the business once you get started. You probably won’t see profits for months. Plan for setbacks.

Focus on attracting and retaining clients and your business will grow as planned. And build a team of trainers who share your same passion and want to see your business succeed.

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Why Launching a Startup is The Best Thing You Can do With Your Life

After a C-level career in finance I decided to launch my own start-up. I was happy working in the city of London, the environment in the company was great, the owners were just yet inspiring. Nonetheless, somehow it was never enough and I dreamed of something more.

Two reasons why you should stop working for someone else

In March 2014 I decided to quit and start on my own. I didn’t know what I was going to do or which direction to go, but I felt it was a rational decision I will not regret. My main reasons for quitting were simple.

#1 it is hard to achieve high financial goals

I realised that no matter how much I loved all the corporate life and the available resources I wasn’t getting closer to my personal financial goals. Successful companies are reluctant to make late comers equal no matter the time and effort they put in.

Even when the results are above all expectations the owners will still attribute it to the company’s generic growth. It’s very unlikely that you’ll become a multimillionaire working for someone else.

#2 It’s hard to feel complete

I always compared myself to other people in the organisation, as a matter of fact that is what all of us are doing when we are working for someone else. We compare ourselves to the people inside and outside the firm.

No matter how much I put in I always felt that I could do more. Nonetheless, I didn’t see good reasons to work an 18-hour day if I will not be made equal. Don’t get me wrong I worked very hard, but I wasn’t “all-in”.

Four reasons to start on your own

It might be hard to find the right idea at the start. Most of my ideas were crazy or stupid, or both. Some of them didn’t make any sense. Until one day… I was back in the UK looking for a horse riding weekend trip in Surrey.

It took me two hours precisely to find what I was looking for. Let it sink in. With an average pay of £500 an hour I hypothetically spent £1000 doing a “monkey search” through Google.

That’s how ActivityFan – the activity booking marketplace was born. As soon as I started working on my own start-up I realized that I will never be able to go back to working for someone else and here is why.

The challenge is real

No matter how challenging your current job is having a start-up will always be much more challenging. It’s green field and you have to build everything from the start. You will not be stuck in routine ever again. It’s requires enormous amount of effort to even get your project of the ground.

If you’ll decide to self-fund you will feel the pressure of having to get rolling before you become flat broke. Trust me it’s the most motivating kick on the backside you can experience. If you ever felt like: “I don’t feel like working today” it will never happen again.

It boosts your creativity

Limited resources will force you to focus on the most effective ways of achieving results. No matter if we are talking about marketing or simply getting things done, you’ll learn to think outside of the box.

It takes up all your time and you don’t mind

When you have a start-up there is no difference between work time and free time. As a matter of fact, all of your free time becomes your work time and all your work time becomes your free time. You’ll enjoy every day. At time it might be hard, but the satisfaction of moving forward outweighs all the tiredness.

You love it with all your heart

You might have heard people saying: “having a start-up is like having a baby” and it’s completely true. The only thing you can talk of is your start up, the only thing you think of is your start-up and you love it with all your heart. It defines you and makes you complete, every success story is your personal success and every failure simply motivates you to keep on going.

Launching a startup is the best thing you can do with your life, but are you ready for the challenge?

This post was written by Elina Pedersen. Elina is a traveller (over 60 countries) and the founder of Activity Fan  – the activity booking marketplace. Elina was born in Estonia, but she lived in Netherlands, Australia, and USA. Elina currently resides in UK. Her main goal is to help people find their next big adventure, as well as to support small-local businesses worldwide.

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