May 5, 2016 by

A Success Model To Think About

soul-cycle

Source: https://www.flickr.com/photos/thenickster/

This article is about a success model to think about. Take the aspects of the story which you feel translate to your business. Believe me there is something in here for everyone.

Have you heard of SoulCycle? These are branded spinning studios where everything is about soul. You can learn more about them here.

First consider the sleek and clean look – white walls, their branded yellow colors on the bikes and other aspects of the studio. Of course the instructors wear black – more or less!

Oh and they are not instructors – they are rock star instructors who guide the riders. The wording does not call the locations spinning studios, instead – indoor cycling reinvented.

Let me stop here for one moment. Right now you should understand this is no fly by night business. This has been going on for over ten years and the following and demand is increasing not decreasing. Branding is well thought out across the board.

There are a number of class types which are all named Soul something and there is a description. A good amount of space and wording goes into great detail about how to purchase, reserve, wait list, cancel, switch and when traveling book at another location.

An offer is available for a 101 for those who wish to try it out.

Allow me to stop here for a moment. What is happening here is SoulCycle has in essence created their own language and culture. They have intentionally built this in order to form a community. In fact on their web site they have a place for their community to share and hang out. Peer pressure will keep people coming to workout. A community will bring people together for fun, support and a place to feel wanted.

Create relationships with people. Think marketing, branding, environment and culture.

The pricing is displayed right on the web site. The model utilized is buy a series of class units and the more you purchase the lower the cost is to you per class. A time limit is placed with each option. This is the reason a great amount of detail is given to how to reserve a bike, how to wait list, how to cancel and more. The 101 is a low cost item to allow a newbie to sample the goods. Consider for a moment how this type of pricing structure might fit into your business model. There isn’t any small type or hidden secrets. Everything is out in the open and described in great detail.

In summary, take a look at your business model, read through these examples again, see where a few changes in your branding, marketing and community building might make all the difference in the soul of your business. Would you like to have some help with it?

Contact Mitch Here

Mitch Tublin is a business consultant, coach, trainer and speaker who is based in Stamford, CT.

Filed Under: Business Planning, Business Strategy Tagged With: , , , , , , , ,
December 3, 2015 by

Do Traditions Have A Place In Your Business?

Do traditions have a place in your business? Are there certain events, promotions, sales, marketing, styles, products which you tailor around a season or other marker which have become a business tradition? Let me know in the comments area!

Examples of traditions: 

First a family photo. Each year we take this photo of our four children. The jerseys represent their year of birth. Dr. Patty Ann and I were introduced to this concept through our good friend Gary, the owner of Gary Jewelers (hint, hint, guys! And gals!) and we have taken these photos each year. Now they are not home every day so we take the photo each year on Thanksgiving.

2015 Family Picture at Thanksgiving - Traditions

A second example is a holiday party or event for your customers and employees or maybe a lunch event. Would this be something you might start and then continue on each year?

Okay, so the first question you might ask is – Why? What is the point of this and what is the return? Fair enough – let’s play! Even in the ‘olden days’ like ten years ago, people did speak and word would spread about a certain event or gathering which was special.

Then the next year the expectation was set and others would be interested in becoming a guest. This might potentially mean they would become a customer! For your current customers it is a showing of appreciation for their loyalty to you and your business.

Now fast track this all to today. There is easy access to a variety of online resources. A few photos, a few short videos and then these are posted online about your Holiday Customer Appreciation Luncheon and the marketing begins!

You must see the advertising each year which begins weeks before ‘Black Friday’. Maybe you are a fan or not of this now traditional shopping day. Take a look at what else has happened now around this date, the day after the Thanksgiving Holiday, ‘Black Friday’. The Saturday after has become ‘Small Business Saturday’. The Monday after has become ‘Cyber-Monday’ for those at work shopping online while at work. The Tuesday after has become ‘Giving Tuesday’ for charitable donations, which by the way may have been record setting this year with the announcement by Mark Zuckerberg.

The point is this – how about considering traditions and how these might fit into your business model?

Intentional Living

Mitch Tublin is an advanced certified coach, trainer and speaker who resides in Stamford, CT.

 

 

Filed Under: Business Planning, Habits, Small Business Tagged With: , , , , , , , ,
May 15, 2013 by

Crush The Competition! Really?

Business CoachRecently while attending an event where there were a variety of top notch professional speakers, one specific speaker struck a specific feeling in me and others. This speaker was essentially ranting about the urgency to take action immediately with his program so you will crush the competition. He might have even said something like, “crush them, step on their throats, stomp on their throats and don’t let up.” Virtually everyone in the audience was standing on their feet and cheering! Somehow my throat kept the nausea from producing a projectile vomit which would have painted the backs of the folks for three or four rows in front of me.

Was this really happening? It is 2013 right? What was missing here? Maybe this is not the right conference. Or maybe the speaker went to the wrong venue? No, there was his name right there on the program guide. He was finishing up and people were rushing to the back of the room to fill out the paperwork and purchase his program.

My view of my competition in the field of Business Consulting and Executive Coaching is if someone is good, if they have values, if they are trained and certified similar to me, if they are trustworthy and we know each other, if there is a client who is not a good fit for me, they get a referral from me. If there are articles or books which come across my desk which they might not know about, they are informed about them by me. It does not help anyone for a coach to have problems in their business, or for me to run my business with the intent to “crush” them.

What are we really saying about ourselves and our business if our business model is to first crush the competition?

In our communities, or in the online communities we belong to, it should be our intent and purpose to be gracious and to add value. It is better for the community of coaches to be more successful and bright coaches working and helping others. The coaches who do not operate in this manner create ill will for all of the rest of the coaching community.

This is not so easy to overcome. It is better to know your competition, embrace your competition, and assist your competition.

Mitch Tublin is an advanced certified personal and executive coach who resides in Stamford, CT.

Filed Under: Business Strategy, Coach Mentor Tagged With: , , , , , , ,
April 25, 2012 by

What Does Pizza Teach You About Setting up Your Business for Success?

Business SuccessIt is my assumption, that where ever you live, you are able to either purchase pizza or prepare your own pizza. In the area known as The New York Metro Area and the area around Boston, people are very loyal to where the ‘best’ pizza is to be found.

Is this true for where you live?

Consider for a moment the variety of ways pizza is sold in New York City. There are numerous locations which sell pizza by the slice. You may buy a full pizza pie or purchase by the slice as well. Just within this category there are small locations with a few chairs and tables all the way to a large restaurant style location with numerous tables and chairs. There are the national chains, where delivery pizza is their bread and butter. Then we go to the higher end and higher quality locations where pizza by the slice is not sold.

These are restaurants where pizza is prepared to order and only sold by the whole pizza pie. Across the board in each category, there may be other food selections or none. A salad may not be on the menu at a small pizza by the slice location for example. A meatball hero or hoagie may be on their menu. The smaller pizza restaurant may only offer soft drinks and beer, while the larger restaurant may offer a wine list as well.

What do these descriptions have to do with your business and setting up your business for success?

It does not make a difference if you are in a service based business or selling a product or products, the analogy is useful. You must consider your offering. Are you setting up a business model which will essentially sell by the slice? A low priced category where you need a high number of customers on a regular basis to purchase from you? Or are you setting up your business model to be more of a high end, higher cost business where the quality and attention will command a higher price point? Will you offer a number of other services or products alongside your main service or product? How many of these other items or services will you offer?

Each of these questions needs to be addressed and defined. If you begin to lose focus on why this makes a difference, consider the pizza analogy. When Domino’s first began their business it was to deliver hot, fresh pizza to college students within 30 minutes of the phone call or the pizza was free. Their business model is really not that much different today, many years after the business first began.

The basic business principles transcend the type of business. There are certain foundational aspects which must be considered regardless of the type of business you are in. Are you ready to define for your business, the model you will follow? Contact Mitch Tublin today for him to guide you and your team through the process, www.thementorguy.com.

Filed Under: Business Strategy Tagged With: , , , , ,