$10 Gym Memberships

When is a $10 gym membership per month not worth it?

Each time the advertisement appears I try to understand the wisdom of the business model. Do they count on hundreds to sign up knowing that only dozens will appear consistently? Are they getting revenue by other means? Does it cost $10 each time you take a shower, or use one of their towels? Inquiring minds want to know.

Someone once said that no matter how much you lower your price, "someone else is willing to go out of business faster than you are." Sad, but true.

If you invested in a $10 monthly membership for anything...what would you expect? Do you lower your expectations due to the attractive offer, or expect the same services that a $80 per month gym charges?

The value/price comparison is in the eyes of each consumer. I chose to skip the cheap and expensive gyms and built one in my basement. Short commute, no lines and a much more satisfying workout.

Survey to find the pain

A speaker was about to conduct a seminar which she had done more than 100 times. I asked how many people typically attended her sessions, and what percentage connect with her afterward and hire her.

"Not enough...if I'm lucky one or two." I asked if she was happy with that ratio..."absolutely not."

The audience was typically in an attentive mode, taking notes and smiling. They were pleased with the presenter and the content. Overall they were quite comfortable with the setting and even connected with other attendees that had gathered. She soon learned that the audience's "comfort" level was the problem.

She decided to tweak the presentation. She began to survey the attendees about their current circumstances and how it was effecting them. The audience began interacting with the presenter because the survey was exposing their discomfort (pain). Some went so far as to plea for help. The dynamics of the presentation had changed, and more attendees wanted help to eliminate the pain.

Entrepreneurs often make presentations as part of their marketing plan. Presentations that lack true connection with the audience will yield minimal results. Resist doing all the speaking and the audience doing all the listening. That's called politics. Engage, survey, uncover pain and build trust. Customers will be attracted to you.

Ethics and Social Media

Businesses are using Facebook and other social media websites to gather information about prospective employees. As the saying goes..."character is defined by what you are doing when no one is looking."

In the case of social media the entire world is watching. There's nowhere to hide.

Advancing technology and instant "shipping" of information should make us pause before we hit send. Turn on the news tonight and you will see a child using their phone to capture a fist fight between two or more of their classmates. Not much thought goes into that behavior.

Social media is the ultimate marketing tool for businesses and individuals. Build a business or destroy your personal credibility. In either case you can do it in an instant.

In 2011 we all need a marketing strategy with social media. Push "send"....after you have counted to 10!

Containing business expenses

There are few businesses left who do not accept credit cards as a form of payment. The benefits are many...

• You don't need to handle cash.
• It's the preferred method by most purchasers.
• You don't need to chase money because someone is sending a check.
• Funds are typically available within 2 days.
• Retailers can develop loyalty and gift card programs with their frequent customers.

Having worked in this industry for years I learned that many merchants do not pay attention to their monthly statement from their processing company. The statement outlines how their processing fees were accumulated. Many statements are designed to be confusing.

When you pick a partner in this business find out how long the business has been open. How long has the representative worked for the business? When you sign on with a new merchant processor schedule time in 90-120 days to have the rep come in and break down the fees. Make certain you are being charged the amounts that were quoted at the time you signed the contract.

If you have not reviewed your program in more than one year it is highly likely you are being over charged. When you figure that out, look for a better option. It will represent instant savings for your business.

Personal Branding

The challenge of leading the community known as Remarkable Personal Branding on LinkedIn has been rewarding and informative.

Here's what is known about our current and short-term future economy:

• High unemployment is the new normal. 9% + is the published number, it grows when you add the sad category known as "those that have given up looking."
• Incompetent politicians who either don't care to fix the problem or are intellectually unable to do so.

Remarkable Personal Branding is the potential game changer for the current job seeker. The market demands that we have a personal brand. Your brand will differentiate you from the 100 or so others that apply for the same position.

Here's the catch. Ask someone you know what it is that makes them special. Ask them what they want to be known for from a professional perspective. When the questions are first posed you see confusion. No one has ever asked these questions before.

Individuals working on their personal brand will have the best chance to succeed in their job search. They will be the ones looking for work that is aligned with their brand. Employers continue to tell me how embarrassed they are for candidates who blindly apply for jobs for the sake of saying they submitted a resume. That's known as personal brand destruction.

To my friends in the business community I ask this question: Are you speaking with job candidates who appear to have an effective personal brand that highlights how they can help you?

Company Culture

The sales team found it odd that after the first year of the Employee of the Month award they did not have a single winner. Unusual? Coincidence? During the second year our sales manager let some info slip that he couldn't keep inside. The general manager didn't think the sales department should be eligible for EOM because we were paid well for the work we did and we didn't need additional acknowledgement.

Thus my understanding of company culture began.

Decisions have consequences and the exclusion of a particular department generated lots of needless chatter about this cultural decision. The departments outside of sales had a big problem with the "policy" because they knew that the winners were not being judged against all of their peers. The motive of helping one subset of employees against another backfired and few were happy.

My mom always said the road to hell was paved with good intentions. The best intention of any business is to believe in all who have been hired to do the work.

The Generation Y era of young workers will further illuminate the culture issue. Generation Y wants to be recognized for who they are as individuals. The factory era that my mom and dad grew up in is over.

Setting the perfect company culture will not be easy. Here are some thoughts about how to address it:

• Acknowledge that company culture is tied to productivity and satisfaction
• Get rid of managers/employees who aren't in alignment with company goals, and thus killing culture
• Order in lunch and use the time to discuss workplace issues
• Meet with the workforce quarterly to update them on company performance and new initiatives
• Pick a favorite charity and ask for community service to help others in need

Generosity and karma

It's never good to wish bad things for people you don't like. Karma has a way of enforcing the "what goes around comes around" phenomenon in our society. Look at the lives of O.J. Simpson and recently Tiger Woods. Karma is at work, though don't ask me to explain how and why it works.

Generosity creates good karma. What are examples of the ways to show generosity? The obvious ones are donating money and time to a non-profit, or helping remove debris from your neighbor's lawn after the recent tropical storm.

Are you able to be generous in your business?

There are many people that need help today due to the dire economic circumstances. If you are not in a position to hire at the moment, is there a way to show your generosity by helping the job seeker?

Entrepreneurs have an abundance of knowledge that can benefit someone who is unemployed. Many of the jobs that were eliminated in the past few years are not coming back. Starting a new business will be a consideration for this group of job seekers.

My friends at TEM Associates showed their generosity in 2009 by offering their conference room to host meetings for the Connecticut Re-Employment Group. More than 75 meetings have been held there in the past few years giving hope to those in transition. This is generosity and gift giving at a high level.

iPhones and Droids rule our lives. My hope is that the spirit of generosity will become as intrusive as our gadgets.