Business Buyer Diaries: the Reality Before, During, and After
<p>Welcome to the Business Buyer Diaries. My name is Nathan Platter, I’m a full-time employee, and I bought a business! I did everything right from finding the deal, handling due diligence on 63 different opportunities, and ultimately buying a profitable gym, and boy was I in for a surprise as a new owner! I chronicle everything in real time, including the biggest wins to the stressful nights at 2am. I’m sharing my journey without sugarcoating anything, so you don’t repeat the same mistakes I do.</p>
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Business Buyer Diaries: the Reality Before, During, and After
306. Key employee let go, handling the pushback, how I’m proceeding forward
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With this experience behind me, I am committed to being a present and reassuring figure at the studio, ensuring both instructors and members feel supported. My focus is on creating a calm and confident environment as we navigate this change together. Join me and my new key team member as we chart a path forward for the business, emphasizing proactive leadership and stability. This episode offers a heartfelt exploration of studio ownership's complexities and the critical role of effective communication and presence in leadership.
Well , it's the end of a very long day Driving home at 10 o'clock Feeling pretty maxed out . Yeah , something that I'm realizing I should have done a while ago . I should have early on demanded full access and ownership of communications channels . Something that I didn't fully appreciate or realize was that when I bought the studio , I was put as like a contributor role and I asked all my managers hey , please put me in as admin . I said sure I'll do it at some point . It never happened . I said sure I'll do it at some point . It never happened .
Speaker 1So when the person was fired today , they go to Facebook and say hey , everyone , nathan fired me today , been happy serving here for three years , blah , blah , blah . And that elicits a social response Heart thumbs up , love , like different emojis or whatever Folks following up vocalizing support for the manager that was terminated . I'd follow it up with a message saying hey , everyone , yes , there's been a change today , or follow-up announcement coming soon . And I was probably over trying to compensate for the grieving that people I didn't realize would be having and , like I put two exclamation marks , I'm like hey , follow-up message coming soon . And I misread the room and it was not received the way I had intended . So I screwed that up and then record a message with the new key member on staff saying hey , everyone , if you have any questions , redirect them to me .
Speaker 1This was not made hastily or lightly , but I believe it needed to be made to carry the business forward . So that just got announced an hour ago . I don't know what follow up is going to be , but my action plan now is to be physically present in the studio . I need my instructors to feel a sense of calm , confidence and engagement so if members are asking them questions pressing for answers , that I'm there on site for them to redirect my way . So , wiped out , it's been one of the longest days of my life because it's a heavy up-and-down , emotional day . So got home , let's go get some rest , going to be up there bright and early tomorrow . Instructors are not alone , members are not alone . The studio's going to survive for the long run . That's where we're at , that's where we're going . Let's rock and roll .