In early 2019, I co-founded a business called Social Sauna. This was before saunas became as popular as they are now, alongside cold plunging. The immense health benefits of saunas were becoming more recognized, and I saw the potential.
We had two barrel saunas on a trailer, planning to rent them out and offer drop-ins at our gym. It seemed like a promising venture with low startup costs, but it failed. The timing, just before the pandemic, was unfortunate, and I didn’t have a solid system to manage this business alongside my other ventures.
Despite its failure on paper, I learned valuable lessons from the experience.
First, regardless of the niche or market, certain principles apply to every business. That’s why I use the Business Airplane model by Donald Miller with my clients. This model includes six essential components:
1. Leadership: The direction of your business.
2. Products and Services: What you’re selling and how you help your customers.
3. Sales and Marketing: Utilizing the StoryBrand framework to make the customer the hero.
4. Operations and Overhead: Creating systems, productivity, meetings, and team building.
5. Cash Flow: Using the Five Checking Account method, similar to Mike Michalowicz’s Profit First.
I failed to apply these principles to Social Sauna, but now I ensure every business I work with runs through this filter.
Secondly, timing the market isn’t as crucial as being passionate about what you’re doing. I am passionate about saunas, which is why I’m planning to restart this business with more experience and wisdom this fall.
Lastly, there are no failures, only opportunities to learn and grow. This experience taught me valuable lessons that I can carry into future ventures. The opportunity to grow a business can be fleeting, but the personal growth and mindset shifts gained are invaluable and long-lasting.
I’d love to hear from you. Do you currently own a business, or if you could start a business and know it would succeed, what would it be?
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