Where There's a Will There's a Way

Dear HardyHikers,

Do you ever feel like you're stuck? Living the same day over and over again? Like you're just going through the motions, but deep down, you know you’re meant for something more? That was me, just a few years ago. I was tired of my life, tired of feeling stagnant at my job. I craved something different, something that set my soul on fire. Something I would wake up energised and excited for in the mornings.

But dreams don’t just magically come true. You have to go out and seize them. Here's how I followed and achieved my dream by jumping into the unknown without any guide or experience. This is my story of turning a wild idea into a tangible reality, and how you can do it too.

 

How I Turned Stagnation into Success

It all started with a relentless itch I couldn’t scratch away. My dream of owning a gym. I've been a gym-rat since I was 17. I love lifting weights, I love the gym atmosphere, the gym culture. I love being at the gym, period. Problem was, I had zero experience running a gym. Or any business for that matter. All I had was a burning desire to break free from the chains of my 9-to-5 grind.

One evening, while doomscrolling through endless motivational quotes and get rich videos, I stumbled upon the concepts of leveraged buyouts and seller financing. These were foreign terms to me, mere buzzwords from the world of business. At first I pictured men in suits sitting in a boardroom. But the more I read, the more intrigued I became. The idea of buying a gym with little to no money down? It sounded like a pipe dream, yet it sparked something in me.

Two months later, I had done it. I bought my very own gym using those exact methods. Leveraged buyout and seller financing. It was a chaotic time of learning and unlearning. A real trial by fire. I didn’t have a guide or a mentor. All I had was an insatiable hunger to break free from the monotony of my previous life.

The journey wasn’t smooth. It was filled with late nights, endless research, and moments of doubt. But every time I felt like giving up, I reminded myself why I started. The vision of a better life, a life where I was in control, kept me pushing forward.

Where there's a will, there's a way. And sometimes, all it takes is the courage to take a chance. To jump into the unknown.

Diving into the Unknown

I wanted to own a gym. But starting one from scratch? Too many risks, too much competition. Some quick market research revealed that my town was already saturated with gyms. Starting from zero didn’t make sense when the startup costs were nearly the same as buying an existing one with a steady customer base. The logic for buying a gym compared to starting one became more and more reasonable to me. I though: What a great idea! In my mind, I struck gold. It was both exhilarating and terrifying.

Understanding Leveraged Buyouts

The next step was figuring out how to make this dream a reality. Leveraged buyouts sounded like something straight out of a Wall Street movie, but I decided to dive in headfirst. My first attempts at understanding the concept were, quite frankly, a disaster. Financial jargon felt like a foreign language. But then, a helpful representative at the bank took pity on me and broke it down in practical terms. It was like a light bulb went off. With a clear plan, I saw a path forward.

Mastering Financial Statements

Empowered by my newfound knowledge, I threw myself into learning how to read financial statements. I was learning the language of business. Googling my way through concepts, words and meanings to get any form of understanding. I analyzed every gym in the area, scrutinizing their financial health. To my surprise, most gyms were either losing money or barely breaking even. It was a goldmine of insight. I could see which gyms had potential and which ones were sinking ships. Very few had potential.

Facing My Fears Head-On

Once I had my plan in place, it was time to pitch the owners. This was uncharted territory for me. I had never written a pitch before, and the thought of reaching out to complete strangers to sell them on my dream was terrifying.

I started by tracking down the different owners through public registries. Some I found on LinkedIn, others through their public addresses. Each time I found an owner, it felt like a small victory. But the real challenge was yet to come. Actually trying to pitch them to sell me their business. It was scary. I mean, who was I? Some random guy no one had heard of.

Learning to Pitch

I had no idea how to write a compelling pitch. I needed guidance, and I needed it fast. I discovered a book called "Pitch Anything" by Oren Klaff, which promised to be the answer to my prayers. But there was a catch, international shipping. I couldn’t afford to wait weeks for the book to arrive. Damn international shipping.

So, I did what any determined entrepreneur would do. I scoured the internet for every piece of information I could find about Oren Klaff and his methods. I found blog posts, interviews, videos, anything that could teach me the art of pitching really. I became a sponge, absorbing every tip and trick I could find. I still have the notebooks to show for it.

Crafting the Perfect Pitch

Armed with this newfound knowledge, I set about crafting my pitch. It wasn’t easy. My first attempts were clunky, filled with jargon and lacking the persuasive punch I needed. But I didn’t give up. I refined and reworked my pitch until it started to feel right. I read it out loud in front of the mirror, and even pitched to friends and family to get feedback.

The Moment of Truth

With my pitch ready, it was time to face my fears and reach out to the gym owners. I wrote to the ones I found on LinkedIn, and sent physical letters to the rest. Each letter sent was a small leap of faith. I tailored my pitch to highlight what I could offer. It wasn't much: my vision for revitalizing their gym, my passion for fitness, and my commitment to making it a success.

Every time I hit "send," my heart raced. But there was no turning back now. I had to believe in myself and my vision. Slowly but surely, responses started trickling in. Most were rejections, but a couple were curious enough to meet with me.

Meeting the Perfect Owner

Finally, after countless emails and nerve-wracking meetings, I met with an owner I could genuinely relate to. He was around my age, had kids the same age as mine, and, most importantly, he was interested in selling. He had opened a second location that he favored, and he didn’t have the time or energy to manage both. In hindsight, this should have been a red flag. But what did I know? I was too excited about the prospect of finally owning my dream gym.

The Overwhelming Reality of Due Diligence

He agreed to sell and opened his books for due diligence. This is where things got real. One thing was reading finalized financial statements that were publicly registered; another was diving into raw numbers and details. Pages filled with numbers and terms I had no hope of understanding stared back at me. I tried to make sense of it, but it was like trying to read a foreign language.

Calling in the Experts

It became clear that I needed help. It was time to bring in the big guns. I hired an accountant from a semi-prestigious accounting firm. She was a lifesaver. She patiently went through everything with me, breaking down complex financial terms into plain language I could understand. She explained what each number meant, what I should be looking for, and what the red flags were.

Discovering the Truth

The gym’s financial situation was worse than I had previously thought. It wasn’t just struggling, it was on the brink of collapse. But two years earlier, it had been very profitable. This gave me hope. I was sure I could turn it around. I didn’t let the numbers discourage me. Instead, I saw it as a challenge, an opportunity to prove myself. I was sure I could turn it around.

Closing the Deal

Fast forward one month, and I found myself sitting in what looked like a boardroom, perched on the top floor of a prestigious law firm. It felt surreal. On one side of the table, my small business-army flanked me: my accountant on one side, my business lawyer on the other, and the representative from the bank next to the accountant. On the other side of the table sat the seller, alone. We really had him outnumbered. I wondered how I could be here. This was all just a dream a mere two months ago.

The Negotiation

As the meeting began, I leaned back and let my lawyer do the talking and negotiating. After all, that's what I hired him for, right? Do you really believe that? Truth be told, I was sitting back, keeping my mouth shut, and doing everything I could to seem comfortable and competent. Inside, I felt like the biggest imposter in the world. What the hell was I doing there with a small business-army doing my bidding? I felt like a kid playing dress-up in his dad’s suit.

The Reality of Impostor Syndrome

Every entrepreneur faces moments of doubt, where they feel like they're way out of their depth. This was mine. I was soaked in sweat, my heart racing as the conversation bounced back and forth across the table. My lawyer, calm and collected, handled his business with precision. I tried to mirror his demeanor, nodding along and pretending I understood every nuance. I didn't. Fake it till´ you make it, right?

Victory

When the meeting finally ended, I was exhausted. But the exhaustion was laced with triumph. The deal had gone the way I wanted. I now owned a gym! The reality hit me like a wave, a mix of exhilaration and sheer terror. I had done it. Against all odds, I had taken a leap into the unknown and come out the other side as a business owner.

From Doubt to Determination

Walking out of that boardroom, I felt a surge of determination. The impostor syndrome hadn’t vanished, but it was overshadowed by a newfound sense of purpose. I had a gym to run, a vision to bring to life, and a point to prove. To myself more than anyone else. This journey had only just begun.

Embracing the Challenge

Running a gym wasn’t just about the finances or the business strategies. It was about building a community. I wanted my gym to be a place where people came not just to work out, but to connect, to find motivation, and to transform their lives. It was about creating an environment where everyone felt welcomed and supported, from fitness newbies to seasoned athletes.

This vision became short-lived however. Only three weeks after I took over the gym the first Covid lockdown started. Queue a year and a half with ongoing lockdowns and reopenings. Never knowing what could happen the next day. This was brutal, but that's a story for another time.

Relentless Focus

My goal in sharing this journey with you is simple: to show you that where there's a will, there's a way. I went from having nothing but a dream to being a full-fledged business owner in just over two months. All I had was a goal and a relentless focus on achieving it. No special connections, no extensive business background, just sheer determination and an unwavering belief in my ability to make it happen.

Believing in the Impossible

In Napoleon Hill's classic book, "Think and Grow Rich," he writes, "Anything the human mind can believe, the human mind can achieve." I believe these words to be true. When I first set out to buy a gym, it seemed like an impossible dream. But I didn't let doubt or fear hold me back. I kept my eyes on the prize and pushed forward, no matter how daunting the obstacles.

The Reality Check

As you might have guessed, I am no longer a gym owner. Life has a way of throwing curveballs, and while the gym was a significant chapter in my journey, it wasn't the final destination. I still work a 9-5 job, and getting here involved navigating a lot of unrelated personal stress and drama. But that's life. The key is to keep moving forward, to keep dreaming and setting new goals.

The Next Dream

Now I'm focused on a new dream. I want to make a living writing online. I want to be my own boss, and to earn a living doing something I enjoy. It’s a different kind of dream, but the principles remain the same. I managed to buy a gym with nothing but a dream and a lot of hard work. I'm confident I will achieve this new goal as well, no matter how long it takes.

The Power of Persistence

If there's one takeaway from my story, it's this: persistence pays off. It’s not about having all the answers or never making mistakes. It’s about having the courage to start, the resilience to keep going, and the belief that you can turn your dreams into reality.

If you're sitting on a dream, feeling stuck, and wondering if you can ever make it happen, stop wondering. Take the leap. Dive into the unknown. The path may be rocky, but every step you take will bring you closer to your goal.