The Strength Connection #166 - Rick Mayo: Celebrating The 100th Franchise
In the 166th episode of The Strength Connection Podcast, Mike and our special guest, CEO and founder of Alloy Franchise, Rick Mayo, will talk about celebrating the 100th franchise, the evolution of an entrepreneur, the power of royalties in a franchise, and setting the right expectations.
Join us in this insightful and captivating talk!
In this chapter, you will discover:
(0:30) Introducing our special guest, CEO and founder of Alloy Franchise, Rick Mayo @coachrickmayo
(0:50) Celebrating the 100th franchise
(2:00) Sometimes celebrating could kill the momentum
(3:10) 30 years of Alloy, the first milestone
(3:40) Making movie analogies to young people, Ferris Bueller's Day Off (1986 Movie)
(4:40) Making movie analogies to young people, The Goonies (1985 Movie)
(5:30) Why did Rick Mayo decide to go into franchises?
(7:40) The growth process of Rick Mayo: trainer, brick and mortar owner, multiple brick and mortar owner, consulting, speaking, licensing, franchising.
(9:30) The evolution of an entrepreneur
(11:00) Which one of the transitions was the hardest?
(12:40) Your body reacts the same way whether you’re nervous or excited
(14:10) “Purpose is really important” - Rick Mayo @coachrickmayo
(18:40) Mike’s story in the fitness industry
(18:45) “Sometimes you’re so deep in the forest you can’t see the trees” - Michael Kurkowski
(21:00) “Enthusiasm is magnetic” - Rick Mayo @coachrickmayo
(22:40) The Top Five Regrets of the Dying by Bronnie Ware https://www.amazon.com/Top-Five-Regrets-Dying-Transformed/dp/140194065X
(23:20) Don’t let your dreams die
(24:20) The 8th Habit: From Effectiveness to Greatness by Stephen R. Covey https://www.amazon.com/8th-Habit-Effectiveness-Greatness/dp/0743287932
(24:50) Entrepreneur is a cool term nowadays
(27:20) Passion for entrepreneurship
(28:00) The power of royalties in a franchise
(29:30) The farther the branches grow, the farther away from the foundation it is. If that foundation is rocky, then eventually you're gonna grow so much, and the tree's gonna tip over
(30:00) Should you set your goals high or achievable?
(31:40) I never went fully on in one thing
(34:50) Ask yourself, “What do I truly want?”
(36:40) The satisfaction of trying and doing your best
(38:40) “Your best isn't good enough” - Rick Mayo @coachrickmayo
(41:00) An entrepreneur is born or raised?
(44:30) “Your best now might not be the best in your future” - Rick Mayo @coachrickmayo
(45:25) Setting the right expectations
(49:50) What lessons did Rick Mayo learn going from one to a hundred franchises?
(53:00) “The devilish distraction of complexity is always available” - Rick Mayo @coachrickmayo
(55:50) How would you describe living the strongest version of yourself?
(56:00) Aim high and move in that direction
(58:50) Where to find more about Rick Mayo @coachrickmayo and Alloy Franchise https://alloyfranchise.com/