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All About Gratitude

All About Gratitude

It’s November. That means Thanksgiving in the United States and gratitude is everywhere this month.

But it shouldn’t just be November.

How do you live gratefully year-round?

It is one of the most effective and efficient ways to increase anything; be truly grateful for what you have and more will come to you: happiness, love, family, health, business!

This struck me deeply recently when I received a note back from a new client. As some of you know, when you become one of our clients, you receive a handwritten thank you note. I’m not writing this to toot our own horn and probably would be using a different example except that I know how much it is appreciated because our newest client told us so. He just wrote, “I just received your card in today’s mail. And I wanted to say THANK YOU. Hand written notes are rare and something I’m grateful for.” And all it took was 5 minutes of my time.

Your members will feel the same.

So simple. So rare. So effective.

How do you make this most effective? Create a system around it. This isn’t to minimize the sentiment but to ensure gratitude is remembered all year and shown at the appropriate times. Do you know members birthdays, anniversaries, rejoin dates and notice when they are missing from your facility for any length of time? If so, what is the system to make them aware you are missing them and grateful for them?

One of our clients incorporates “out of the blue” gratitude into his monthly staff meetings. They take 10 minutes each month for each staff member to write 3 handwritten cards to appreciate their clients. That is a meaningful system. And any well-done system will also increase your profitability.

Finally, I want to give some credit to my daughter for the topic of this article. I haphazardly asked her, “What should I write about?” She replied, “Me!” And I started thinking, “How am I going to do that?” Then, later that day, as we were going through our normal routine, it came to me. Every day I ask each of my children to name three “gratefuls” and I share some of mine with them. Do you need an accountability partner to make this one of your habits? If so, Lewis Howes, author of School of Greatness suggests asking the person you last say good night to every night for their list of three things for which they are grateful and then sharing yours with them. What a restorative, blessed way to end your day? Not just the 30 days of November, but every. single. day. you wake up with a pulse, you have something for which to be grateful. Share it and start blessing others, too!

If we can help with any questions, please contact us at any time.

Seven Essentials To Do When You Get a New member

Seven Essentials To Do When You Get a New member

Congratulations, you’ve landed a new member! Or, perhaps you prefer the term “client.” Either way, you should be excited; in this particular climate, sparking fresh interest in any kind of business can be challenging. Yet, you did it, and now comes the next part: What to do after you have officially landed that member/client.

The following essential list of to-do’s will help ensure you not only keep your member happy but that you KEEP them—period! Take a look; you will discover the list can apply to everyone and anyone.

1.Welcome Your New member

A simple “thank you” goes a long way. Remember, with today’s competition, it is more important than ever to stand out. Nothing will help you stand out more than by showing appreciation to any new members. Make sure to welcome them and thank them for choosing you/your business. This can be done in person, via card, or even email. Though, written form will likely make a lasting impression. Also, reinforce all of the benefits of choosing YOU!

2. Make a Smooth Handoff

If you think about it, this new member has joined your family—let them know that! Introduce them to your staff (i.e. their new family and friends). Specifically, make sure they are acquainted with their person of contact and ensure it is a good fit by all involved parties.

3. Get Them Onboarded in a Fun Way

During the initial meeting—orientation, if you will—give your member all of the vital information they will need to easily navigate your business and get the most from your services. This information could include passwords to access certain areas, emails, phone numbers, a glossary of keywords, etc. If you could present this information in the form of a video, even better! Videos are much easier to understand and leave a lasting effect!

4. Be Their New Best Resource (Goodies Added)

Do you have a new client kit? You should! This kit can include anything pertinent to the relationship with your new member (i.e. relevant paperwork, files, contact information, etc.). Spice up this kit with some goodies, though! Everyone loves goodies. Make sure to properly read your member to get a better understanding of their likes, but in general, these goodies could include a t-shirt, healthy snack, water bottle . . . You get the idea.

5. Connect with Them on Social Media

Whether it is Facebook, Twitter, or Instagram, almost everyone is on at least one social media platform. Connecting on social media will not only allow you to know your member/client better but is also a great way to network with “friends” of your member.

6. Meeting with the member for the First Time

There will come a point when you have that first review meeting with your member. Be sure to deliver value and explain the service you’ve performed so far. The most essential take away from this step is that your member feels comfortable and knowledgeable. This is a perfect time to verify any information that may seem unclear or complicated; encourage questions during this meeting.

7. Ask for a Referral or a Review

The best way to drum up more business is word of mouth. You can ask immediately or wait until your relationship has blossomed and become strong. Asking for a referral or a review (or both!) is completely acceptable and a good business practice.

Incorporating these seven items into your new member onboarding process will get your relationship off to a great start. By showing your member they are important, you stand a better chance of securing their future business and attracting even more potential members.

If we can help with any additional questions, please contact us at any time.

3 Creative Ways to Handle Retail Inventory in your Studio

3 Creative Ways to Handle Retail Inventory in your Studio

Back to the topic of retail.

In one of our recent posts we mentioned when you leave retail as a sub account or portion of Operating Expenses it requires you to be more critical of your purchasing in these areas.

Just like anything else in Operating Expense, we want to be evaluating and REevaluating necessary expenses constantly, including retail.

One easy way to ensure you don’t have extra supply or outdated supplements is to direct ship to customers. There are several reputable supplement companies that will allow you to private label and have options for getting supply to mutual customers. One option is to place large orders for all your members at one time. They prepay, you use that money to pay the supplier, goods come in and you disperse. A second option and one requiring less time in your gym is to have a kiosk (laptop computer) in your facility where members order direct, they pay, the product is direct shipped to your member and you earn a commission. Either of these options require NO inventory, no upfront cost, very little space and in the second option, no time on your payroll.

On apparel, one of our clients only sells apparel with pre-sales. He orders samples 3-4 times per year and then he has a 1-2 week window where members place their orders. The member PRE-PAYS for product orders and then they arrive within another week. Once the order is placed, the samples are given to the staff to wear for additional marketing. Again, no inventory, very small upfront cost (with a future return) and minimal room required.

If you’re considering a new product, many vendors will let you test it for a month or two. They’ll send initial inventory samples as a guest brand. Then, if and only if you get enough sale do you have to order. This does take some retail space and many lead to upfront cost in the future but only after proven success with your members.

We’re sure there are other creative ways to handle inventory. How are you doing it?

To hire or not to hire…that is the question!

To hire or not to hire…that is the question!

This is one question we get asked many, many times when speaking with gym owners.

The real question is, “Can I afford to hire another coach/trainer?”

Remember, one of the Profit First mottos – “When in Doubt, Open an Account.”

That’s right, adding another account can help you answer this question.

First, determine how much you’d like to pay this new employee and the total cost including taxes and insurance. Then, figure out how much that would be per allocation period. Now, create an account and begin transferring that amount into the new account from your operating expense account on your allocation day.

This allows you to feel the pain of that new hire before you actually make the leap and commit to a specific individual. If you find you need the money in your operating account and need to transfer it back from the new account, you can without missing your payroll, but this also means you are not yet ready to hire another coach.

If, however, you find you’re still able to meet all of your current operating expense obligations AND save a month or two worth of this new payroll expense CONGRATULATIONS – you are more than prepared to make this new hire AND you’ll have some savings to back it up!

Not sure how much it’s going to cost you to hire this new person, let us know and we can help.

Ready to MAXIMIZE Your Profits?

 Learn how with a FREE Download of the first five chapters of Mike Michalowicz’s book, “Profit First”. 

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