FINAL REFLECTION

The experience I most enjoyed and that will stick with me the longest was interviewing those close to me and asking them what they think makes me stand out. At first, I thought the assignment was a bit corny and I was reluctant to set up these interviews with my family members, but it proved to be a great experience. I decided to add on a question at the end asking everyone to share something they thought I could improve on or any advice they’d like to give me. I am not one to boast so it felt weird asking them what makes me great and then leaving it at that. I wanted to know what they thought of me and what they thought I could be better at, and as it turns out, what I remember most were the things they said I could improve on. This experience helped me to see that the things in my life that I know I am weak at are what others see that I am weak at as well. So, in a way it was good to see that I am being self-aware of my flaws and not oblivious to them. Also, each person had a different suggestion or advice and I was able to see that most likely it was something they wanted me to do better with them. For example, my sister said I should open up more and be more vulnerable. I believe she said that because she is a talker and she likes to tell me all about what is going on in her life but I tend to keep things close to the vest. Her suggestion I believe was aimed for me to improve my relationship with her. I really enjoyed all the suggestions because if there is one thing I’ve learned in this class is that relationships are key and we have to focus on having good relationships with people that will help us along our journey, and the most important people are our families.

Before I took this class, I already thought I possessed the entrepreneur mindset because I hate taking orders from people and I want to be my own boss. I thought that was the main aspect or driving force of being an entrepreneur, but I have learned it’s only a small part. I have learned that the best entrepreneurs are focused on solving problems, they aren’t focused necessarily on the money but how to provide a service or product that will help solve a need customers have. Not only that but they are people that are driven by learning new ways of doing things and not being afraid to take risks, fail, and continue to work. One of the biggest lessons I’ve learned throughout this course is failing forward. We have to put ourselves and our ideas out there and not be afraid to fail because that is how we will identify if we have a product that will stick or if we need to ditch or change something. I think I am much more equipped now to be an entrepreneur and I believe I am finally understanding what the mindset is. 

The biggest recommendation I have for future students is to plan, plan, plan. I found that if I sat down one day of the week to plan for the following week not only was I able to turn in my assignments on time and not be so stressed, but I was able to learn so much more from the material that week. It helped me to focus on each assignment and really get the most out of the intention of the assignment. I was also able to get the most out of the interviews because I wasn’t feeling rushed and I had a plan. If you prepare and plan ahead it is so much easier to get a good grade in this class but it’ll also be easier to identify opportunities in your area and then test that opportunity during this semester. All in all it was a great class and I enjoyed it a lot and most of that enjoyment came once I started to realize that I needed to plan ahead.

EXIT STRATEGY

My exit strategy is eventually transitioning the company to be a consulting company for sales and marketing. I would love to expand and start working with all kinds of businesses and providing expertise in acquiring new customers and everything involved with that process. I could see myself working as a consultant and continuing to help the company grow until I am old and eventually retire.

This exit strategy is good for me because I enjoy the freedom that comes with consulting. I also enjoy the ability to have different customers and challenges where every day is different than the previous. This strategy will also help me to pursue other ventures. I will have the time and freedom to pursue other business ideas and continue to work as a manager or just overseeing operations. 

This strategy has influenced my decisions by targeting a market that is new and not as informed in sales and marketing as other older companies. These small gyms really have just started to emerge since the early 2000’s so they are not even 15 years old. By targeting this market this will allow me to learn what it takes for these companies to succeed and how to continue to help other companies and eventually help bigger companies. Also, this exit strategy plays well to my personality, I am always looking for new and better things. By transitioning into a consulting firm, it will give us the opportunity to work with many different companies and not just settle in one market. I am also aware that some companies might just want to work with us for a short amount of time until they feel comfortable with their sales process. We have to be ready to pivot and continue with new customers and new business, so this strategy helps take care of that.

Reading Reflection #3

GRINDING IT OUT

The Making of McDonald’s

Ray Kroc was a man of the people. He loved to be around people and he loved working with people. At a young age his jobs involved either entertaining people with his music, giving lessons, on a radio show, or in sales. Eventually he transitioned over to sales and everywhere he went he became one of the top salesmen. He had a unique ability to persuade people into his way of thinking and he honed those skills and enjoyed it. What I most admired was his passion for sales. I have been in the sales industry for a couple years now and although I enjoy it, mainly because of the money and freedom, it is not a passion of mine like it was for Mr. Kroc. He enjoyed going into work every day to sell and he had fun every day. In fact, he managed to start his own sales company selling multi-mixers to restaurants all around the U.S. and that company was what paid his salary and kept him afloat during the beginning rough years of McDonald's franchise. One reason I believe he enjoyed sales so much was because he always put the customer first. He would never sell a product to someone that did not need it or if it would cause them a financial burden. He was always looking out for his customers and in that way, he was always able to get a loyal customer base and enjoy his job. 

One area I think he could have improved in was having a more balanced lifestyle. One could say he was a workaholic, at one point he worked 2 jobs and was home for only 6 hours of the day enough to sleep and get dressed and ready for the second job. I think this lack of balance eventually lead to his divorce. However, his work ethic was amazing and most of his success came due to his vision and work ethic, so I am not exactly sure if a more balanced lifestyle would have suited him. 

Mr. Kroc encountered much failure and adversity throughout his life. He had many business ventures that either did not pan out or where the luck just ran out. One example was a real estate venture he pursued in Miami, FL. It was going great until the company he was working for was shut down and he never received his last paycheck. This was tough for him and his family, but they decided to go back home to Chicago and he started selling paper cups full time. He was always looking ahead and trying to find the next best thing. His work ethic would not allow him to feel sorry for himself or to stop trying. I believe one of the skills that allowed him to succeed and overcome adversity was the ability to not worry. He developed a meditation technique that allowed him to forget the stresses of his day to day and be able to sleep and relax when it was time to relax.

One of the competencies Mr. Kroc possessed, which I think is very valuable as an entrepreneur, was his ability to recognize talent and potential in others. He has said repeatedly in his book that he did not know what he would have done or where McDonald's would be without the key executives and secretaries, he was able to hire in the beginning years. He had great intuition to know when someone had potential and when they didn’t, and that applied to many other things like where to build new stores, what foods to add to the menu, etc.

One part of the reading that was confusing was why he did not part ways with his CEO years before. Harry Sonneborn was his first CEO and was very instrumental in the success of McDonald's, but as the company grew and the market and economy changed it was clear Mr. Kroc’s and his ideas where not in sync. He let things slide for a while until eventually they could not agree on anything, but it caused contention in the company and he lost some executives and risked losing some more that were not happy with how Sonneborn ran things.

One of the questions I would ask Mr. Kroc is, what were some of his techniques to close a sale? Like I said earlier he was a great salesman and I am always interested in learning different sales techniques He was able to close many sales in his day and I’d love to get some ideas on how those sales were closed. The other would be, what kept him so motivated? It seemed like since he was young, he had this incredible drive and that was what powered his work ethic. I find myself lacking motivation sometimes and I’d love to know what kept him going all those years. Especially what kept him grinding till he was old because he didn’t start McDonald's Corporations till, he was 52 years old.

I think Mr. Kroc’s opinion of hard work is that it is vital to your success. He has said that when you believe in something you have to be in it to the ends of your toes. When he began a new venture he believed in, he would go all in, as in, if he was not working, he was thinking of work 24 hours out of the day. Toward the end of his life he said he considered taking it easy with McDonald's operations and taking it easy meant only thinking about it and working 18 hours of the day instead of 24. To have the success Mr. Kroc had I believe it is very important to be all in like he was and work nonstop. With that said, I’d like to have a little more balance in my life but that doesn’t mean I won’t have success, maybe just not to the level he enjoyed.

CELEBRATE FAILURE

For the past year I have been training to be able to do strict bar muscle-ups. That is basically when you do an explosive pull up and then get yourself over the bar and press yourself up. It is a very technical and difficult movement that takes a lot of strength, coordination, and attention to detail. I first began the year just trying to improve my pull up strength and I was able to go from about 8 pull-ups to 14. These last couple months have been training more explosive muscle-ups and also shoulders to have the strength in my rotator cuff to rotate around the bar and then press up. Anyways I have tried and tried doing the muscle-up but as of right now I have not been able to complete it. 

I have learned that everyone’s body is different, and we have to adapt and train for our bodies in specific. The general rule is if you are able to do 10 pull ups then you should be able to do a muscle-up. That was something that was hard for me to accept. I know I have the strength, but the technique is not there yet. The problem with that is that I am comparing myself to everyone else in the world, and comparisons, for the most part, lead to discouragement. The book I read by Scott Adams on how to fail at almost everything and still win big has helped me to let go of so many goals and adopt systems. Over the last couple months my training has gone from trying to get a muscle-up to just training pulling strength 3x a week. I know that if I continue to train my pulling strength 3x a week eventually I will be able to do a muscle-up. I have also learned to have fun and not be so fixed on the result, and I think that is part of having such detailed goals and not systems, you get discouraged when you don’t reach them but, in all actuality, you are still progressing.

Having been in sales I know that failure is inevitable. I have learned to view failure as an event. This allows me to analyze what happened, plan, adapt, and continue to try. In sales you get hundreds of no’s every day and you learn to view those little failures as stepping stones toward the yeses. One of my favorite quotes is from Michael Jordan, he said he never loses he only learns. That is how I try to look at failure, it is only preparation for the success that is to come. This class has definitely helped to continue this train of thought about failure. All entrepreneurs have failed and in fact most of them have failed at many endeavors before they got their big success. If anything, this class has helped me to understand that I should fail quickly and fail more often because as a wise person once said, failure is the best teacher. As I have been contemplating on this assignment, I have realized that I have not failed enough this semester. I think if I haven’t failed at something then I am not trying different things, and if I am not trying different things then how am I supposed to find that one project that will lead to success. My goal this next semester is to fail more, try different things, learn from them and continue to fail forward.

WHAT'S NEXT?!

EXISTING MARKET

As of now I have been focusing on providing sales and advertising services to small local gyms. When I say small, I mean under 200 members and most likely an LLC. I think the next service I would like to provide these gyms is selling bigger contracts from corporations. For example, working out and sweating together is a great team bonding and character-building activity. There are many companies out there that are looking for ways to bring their work team together and bond more. I would like to provide these companies an exclusive contract with a gym to be able to have a group session only for them.

Interviews:

Herman - Gym owner in town 30 minutes away.

Natalie – manager at a local gym.

Nate – head coach at a gym out west where I used to train.

One of the biggest concerns these people brought up was the pay structure and how I would go about it. I briefly explained the commissions side but there were some little things that I still have not accounted for. Herman in specific said that his gym sometimes is tight on money so having a business plan presented for them with the exact details of the costs would help them and make the decision process easier. Also, they said that because these gyms are usually a close community and locally, they all know each other one thing that I need to start doing is introducing myself to all these gym owners, so they know who I am and also showing them how I can help their company. One idea Natalie brought up was for gyms that might not have a lot of money to spend on advertising but are interested in our service, do we have a plan for that, and can we provide a payment plan where they pay a smaller commission for a longer period of time or as long as customer stays with the company.

I am starting to realize that there needs to be a lot more detail in my idea. I think the concept is there but there are a lot of little things that have been brought up that I did not have an answer to. Although I don’t like talking about the money side that much it is important to know exactly how it will all be sorted out once talks get to that point.

NEW MARKET

The market I would like to try to exploit is bigger companies. Similar to the existing markets path I’d like to focus on these companies and maybe provide a way for trainers to go to them if they can’t come to us. This is a way I could incorporate smaller personal training gyms, where they have the time and desire to go rogue and train people outside of their gyms.

I think the value again comes from helping these big companies establish more team building activities. I think with how society and social media can blow things up very quickly now days it is important to stay united and what better way to do that than to sweat together and go through some punishment (of the good kind) together.

Interviews:

Robert – Sales rep at Cox Cable

Troy – bank employee

Both people I interviewed agreed it would be something they would like. They like their jobs and are given benefits but nothing as far as gym memberships, so this would be a great opportunity for them to hang out with their coworkers and blow off some steam. However, they did mention it might be hard to make it an ongoing thing if I had trainers going to their business. That is one area I need to change/adapt if we wanted to make it something on going.

I really think this new market could have a lot of potential. I don’t think it is as big as the existing market just because I would be dealing with bigger companies so closing a deal would take longer. However, a deal with one of these companies would most likely bring in more revenue so it might be worth the wait and the extra time. Both people I interviewed also mentioned how their companies frequently have get togethers sponsored by the company but nothing of the physical fitness sort. It could be an idea that is easily accepted by senior management.

MY VENTURES UNFAIR ADVANTAGE

1.     Know many local gym owners already

Valuable: Very valuable. I have the ability to build stronger relationships and business partnership based on the past.

Rare: Not very rare. I assume someone could come in and build a relationship in short amount of time.

Inimitable: it can be imitated and might be easily done.

Non-substitutable: it can be substituted, having a connection to the gym is important but knowing the owner is not the only way.

2.     Sales Experience

Valuable: Very valuable. This is basically 50% of my business model and what will account for most of the revenue.

Rare: Now days it might not be as rare, but I think it is still somewhat rare.

Inimitable: I don’t believe it can be imitated. You either have the knowledge and experience or you don’t.

Non-substitutable: Again, I don’t believe it can be substituted or at least substituted easily.

3.     CrossFit Experience

Valuable: Very valuable. This is the market I am planning on starting with.

Rare: As for my competitors it is not very rare to have this experience. 

Inimitable: No, this is a very different industry and this resource cannot be imitated easily.

Non-substitutable: There are possible substitutes, if someone has worked at a small business before but it might take time to adjust.

4.     Know the area and local businesses

Valuable: Knowing the area might not be as valuable as knowing local businesses.

Rare: Not very rare, many people in Gainesville are from here and it’s a smaller town so lots of people know each other.

Inimitable: I think it could be imitated.

Non-substitutable: I can think of a couple possible substitutes for this resource.

5.     Have entrepreneurial contacts available at UF and SFC

Valuable: Very valuable. Gainesville is big on entrepreneurship and these contacts can provide lots of help and advice.

Rare: Probably not very rare, I would imagine a lot of entrepreneur minds out there have mentors or clubs that help with ideas etc.

Inimitable: Yes, it can

Non-substitutable: Yes, it can also be substituted.

6.     My company is local

Valuable: Very valuable. Most companies that do advertising or far away and you only communicate through the Internet or skype instead of in person.

Rare: Very rare.

Inimitable: I think it could be imitated but as of yet, I have not seen a local business like this in Gainesville.

Non-substitutable: There is possible substitutes, but I think it is difficult to provide the same feel or results.

7.     Savings to start company

Valuable: Somewhat valuable. Some could argue that it is not big factor because you can find different ways to acquire capital.

Rare: Not rare, many people out there that can find or have money to put into business.

Inimitable: It can be imitated.

Non-substitutable: Yes, it can be substituted, I would add pretty easily by another resource.

8.     Bilingual

Valuable: Very valuable in an area like Gainesville with many Hispanics.

Rare: I would say it is somewhat rare.

Inimitable: This resource cannot be imitated or at least can’t be done easily.

Non-substitutable: It could be substitutable.

9.     Familiar with Social Media

Valuable: Very valuable since this is half of the business model and plan.

Rare: I don’t think it is rare now days, many people know and are experts at social media.

Inimitable: I don’t think it can be imitated easily. Social media is such a big part of everyone’s lives right now it is hard to steer away from it. 

Non-substitutable: I don’t believe it can be substituted. You either do social media advertising or you don’t but it has shown to produce the best results for local gyms.

10.  Access to Sales training

Valuable: Somewhat valuable, especially when trying to train and hire other employees.

Rare: Not very rare, now days you can find great training on any free website or even YouTube.

Inimitable: I don’t think it can be imitated, this is a big part of learning to sell.

Non-substitutable: Only thing I think it could be substituted by is just real-life experience.

Top Resource:

I believe my top resource is the experience I have working at a CrossFit gym. Not only any CrossFit gym but a gym that is successful and has found success in gaining new customers rapidly. I have learned how to advertise, what platforms to use, what companies are out there, and what some of the obstacles are. More importantly I have met face to face with the people that are becoming new customers, I have persuaded them to join the gym and have learned much about their wants, needs, and desires. This all will help tremendously in taking some of these techniques and especially the success that has come with it to other gyms.

VENTURE CONCEPT #1

Drizz-Fitness Marketing

Opportunity:

Local unconventional gyms usually have small staff and one owner that deals with most of the business side of things. Due to this and other factors it is harder to focus on sales and marketing and that Is why most of their customers come through referrals and not as often as they’d like. The opportunity I want to exploit is providing these gyms with social media marketing and a sales force to help follow up with leads, meet with potential customers, and generate new customers.

As of now some of these gyms do social media marketing and some do not. If they do, they still have to take care of the sales side of it and it is usually done by a manager or owner, so it is not as effective as it can be. If they aren’t doing social media marketing, then they are really just relying on word of mouth and now days that can be dangerous for the longevity of the business.

The ideal customer is a gym owner that wants to continue to grow his business but might not have enough time, or the staff, or expertise to do so. They might even have a thriving business, but they might be wanting to delegate more work and just oversee the business.

Social media has made advertising so much easier. There is an ocean full of customers out there that these businesses can reach, they just have to have the focus to follow up and meet with potential customers and also know who to target. These are areas where my company would provide expertise. I believe the opportunity has a lot of potential, but I don’t think the window will be open for long. There are already companies that do similar work and social media is something that can be learned, as well as sales. Once these companies learn the system then they might want to branch off and do it on their own.

Innovation:

Most gyms already know and have some form of social media marketing to draw in new customers. They might already have a sales strategy. The problem is putting those two together and finding the time and the focus to be effective in their efforts. My company will manage their social media efforts, follow up with their new customer leads, meet with these leads one on one, create a sales strategy, and then close the deal and provide the gym with new customers. 

Basically, my team will be independent sales contractors for the gym. We will meet with them and discuss what type of customers they are trying to attract, who they would like to focus on, how many customers they would like to add and what packages they have available. Then together we will come up with an advertisement to post on Facebook and a lead generator for people to enter their info and be contacted by us. The gym will pay the social media advertising fee (for Facebook it can be around $800 a month) and will pay us a maintenance fee based on how many ads are available and how many hours we estimate it will take us to check on them and keep them running. Once we start to add customers to their gym then they will pay us a percentage of the customers contract. For example, if we sign up a Personal training client and their monthly contract is $1000 then we will charge 40% of the contract value. The percentage will also be based on the value of the contract, so as to encourage my team to sell more expensive contracts, and the number of contracts we sell. If a gym only wants 10 new customers a month and we do not hit that quota then we will not get the full percentage. Again, these prices are based on many factors that will be discussed with the gym owner and will be based on their needs and what they want for their gym. Although most of these gyms would like to add as many new customers as possible, some are not ready for too high numbers.

Venture Concept:

First of all, through the social media advertising we will be tapping into the ocean of customers that are looking to join new gyms and get back to being healthy. There are so many people out there and each of them has different needs. As we sit and make plans with these gym owners, we will find out what needs their specific gym can meet and what customers to focus on. Then the last step is actually getting these gym owners new customers so that they can continue to take their business to the next level.

I believe these gym owners will buy our service because first of all it is not something that they need forever. The investment is until they feel comfortable with where their gym is at. With that said we still want and will have customers that will stick to us for a very long time because they might find it is more comfortable that way. Also, more customers mean more business for them, this is a service that will be easily measured and will provide their gym with more revenue, more work, and more credibility. 

As of right now there is only competitors on the social media advertising side of things. My company, as far as I know, is the only one that would be providing social media help and sales help. I think it will be hard to switch for the gyms that are seeing some kind of success with their social media advertising, but those that are truly looking for all options to grow I think it will be easier to get their business.

As of right now, I would hire someone to take care of all social media for my team. They would be the ones maintaining the ads and leading the initiative in making new ones based on the customer demographics we are trying to reach. Starting off I would be the one taking care of the sales force for the gyms, as we begin to grow then I would like to have 1 sales person for each gym and they would be getting paid based on commission. 

Most Important Resource:

I believe my most important resource is the experience I have working at a CrossFit gym. For the past year I have worked at a successful CrossFit gym and I have learned how they advertise, how their sales process is, what obstacles are presented, and how to work around them. I know the people that are joining these gyms, I know what most of their goals are and why they are interested in these gyms. All these things help to give me an advantage to anyone else wanting to do what I am doing.

What is next for my venture:

I would like to be able to expand our reach to other bigger gyms and health services. Maybe having a partnership with massage therapists, chiropractors, physical therapists, etc., people in the health field that also need clients. I’d like my services to not just be limited to CrossFit gyms.

What is next for me:

Eventually I would like to become an independent contractor providing training for these gyms. 

ELEVATOR PITCH #3

https://youtu.be/wspsXX-wofg

REFLECTION:
I've received a lot of great feedback that has helped shape this last elevator pitch. I was very happy with my second elevator pitch, although there are some things that can improve I think overall it covered a lot of the things I wanted with in the time limit. On this pitch I limited myself to only one try, no re dos. I wanted to push myself to be ready at all times, I mean that is the point of an elevator pitch. So although this pitch might not be the best and I could change some things I was happy with it because it was my first and only attempt. I tried to be a little bit more excited but after seeing the video I could be a little more excited. Sometimes you thing you are doing something well and the camera shows differently. I don't typically show much emotion so it is sometimes difficult to act super excited but that was one of the feedback I took to heart and something I will definitely have to work on. I also took out a couple things like "sales is easy," after evaluating my pitch I agree with the feedback that it is not easy and it might come across in a negative way. I still included that sales is a numbers game so it implies that it can be simple if you dedicate enough time. I found that for the most part I have my pitch memorized and it was a lot easier to say what I needed to say with in the time limit than the first pitch. I was also a lot more comfortable recording, mainly because I knew what I wanted to say. All in all it still needs some work but I am happy with the improvement.

Reading Reflection #2

HOW TO FAIL AT ALMOST EVERYTHING AND STILL WIN BIG - SCOTT ADAMS

WHAT WAS THE GENERAL THEME OF THE BOOK?

The general theme of the book was how to use failure as a stepping stone toward success. Scott Adams does a great job of sharing his past failures and also showing how and why those failures lead to his success. He makes the reader feel fearless and excited to fail in order to find success. He also writes about what he’s learned from those failures in order for us as readers to be able to avoid pitfalls. He shares how to simplify our lives before we can start optimizing and gives many small tips on how to make our lives simple so our energy levels and attitudes are fresh enough to be able to work on our breakthrough work.

HOW DID THE BOOK CONNECT WITH AND ENHANCE WHAT YOU ARE LEARNING IN ENT 3003?

ENT 3003 is all about execution on an idea and always trying to find the next best thing. Scott Adams captures both of these principles in this book. He gives lots of tips on how to maximize our time, energy, mental capacity, resources, etc. He also talks about not settling and continuing to look for something better. He worked in the corporate industry for 15 + years but throughout those years he was failing at different small projects until he failed his way to his breakthrough project of Dilbert, the comic book series.

DESIGN AN EXERCISE FOR THIS CLASS BASES ON THIS BOOK

I think one of the hardest aspects of being an entrepreneur is being afraid to execute on your idea, or any idea for that matter. A lot of times we have great ideas or even small simple ideas, but they just stay that way, ideas, in our minds forever. The exercise I would design is picking a very simple entrepreneur idea and trying to make it work.  It can be something small, something you might even think will fail. The point of the exercise is to execute on the idea, try to make it come to fruition and then analyze the results. Scott would analyze every failure he had and by doing so he was able to learn from it and eventually it led him to his breakthrough project. So, the goal of this exercise would be to execute and possibly even fail but analyze and learn.

WHAT WAS THE BIGGEST SURPRISE WHEN READING THE BOOK?

There were two parts of the book that really hit home for me. First, he shared an experience when he was on a plane on his way to California and he sat next to a CEO of some company. The CEO was very successful and the biggest advice he gave Scott was to never stop looking for a job. He said that as soon as he landed a job with a company, he immediately started his search for a better job. Not only did this help him eventually become CEO of a company but it helped him to keep his mind and eyes sharp and ready for the next great opportunity. He said the best job doesn’t always come when we want it to come or when it is convenient for us, so we have to always be looking and always be ready. Secondly, he talked about maximizing our bodies energy levels. Our bodies energy fluctuates throughout the day and we need to learn to use it to our advantage. For example, he shared how in the mornings his creative juices were flowing so he always took that time to write and work on his comic books. In the afternoon, after working out he would feel energized but not so mentally stimulated, so he would use that time for mundane tasks like paying bills. So, he would use his bodies energy levels to maximize his productivity. Going along with that he also recommended doing things that would increase our energy levels, so we can be happier and get along better with others. For example, he would write for about 30 minutes to an hour to clear his mind and relax and he found that it made him more fun to be around when he was with friends or family.

GROWING SOCIAL CAPITAL

DOMAIN EXPERT

Dan – Has worked in sales for many years. We met out in Utah when we were doing door to door sales for a Satellite distributor. Dan has his own small business where he does much of the same type of business I would be doing. He contacts Sales companies and helps them optimize their performance mainly by using different apps and bringing on his sales force. He also does most of the sales in that region for a couple big TV providers as his own authorized retailer.  I worked for Dan for a little while doing sales for his company. He was eager to share some advice for my business idea. Main thing I got out of our exchange was how to set these meetings up with these owners and continue to follow up until I can get a one on one sit down with them and build relationships with them. Although he does different work then I would like to do the business model is the same. He is a valuable help to have in my network as he already has his own business and can help me with the overall business side of things.

MARKET EXPERT

Marjorie – Does social media marketing for small businesses. She started with her Facebook page and acquired a nice following from reviewing different makeup products. She has transitioned to all thing’s social media, especially helping small business grow their social media platforms and creating ads for them and training them on how to have more success with their ads. Marjorie was one of my youth camp teachers a long time ago and we have stayed friends on Facebook. I messaged her on Facebook and asked her some advice about social media advertising and she was happy to share her thoughts. One big take away I got was she said her page didn’t really start taking off until she started being more genuine and really speaking her mind and posting things that she was really passionate about. She says it is all about being real and vulnerable and showing others the truth about your company or yourself. 

INDUSTRY SUPPLIER

Shannon – is one of the managers for a meal prep company out west. She provides prepared meals for a lot of the CrossFit gyms in the area. The CrossFit gyms refer their members to her and she provides a certain discount or percent to the gym. She has the knowledge I am looking to get about how to do business with these gyms, what are good practices, what are bad practices to stay away from, and more importantly how to close deals with them. I got in contact with her when I was on a Sales trip to Arizona. I wanted healthy prepared meals for the month I would be there so the gym I was working out at referred me to her company.  The meals they prepared were amazing and their customer service was great. She would also be a huge help for me in providing tips on how to sell to these gyms and how to get the word out about my service. She was happy to provide some advice for me through email, but she is a contact that I will have to continue to build a closer relationship with if I want it to yield good results. 

This was an awesome assignment. I enjoy networking and asking others for advice and guidance. I have realized that there are many people out there ready to help especially experienced entrepreneurs. I was surprised by how some of these people I had either not spoken to in a very long time or had barely known each other and they were still willing to help and provide their expertise. I think at a lot of networking events I am usually trying to find a way to provide my idea to others that can help me exploit the opportunity where as this assignment was more of learning form others that are in similar industries as id like to be in. Definitely a game changer for me as far as how I approach networking in the future.

IDEA NAPKIN #2

WHO AM I

For the last couple years, I have been working in sales and it has been an incredible experience. I have learned many techniques and skills that have helped me become an experienced salesman. I am by no means great, but I have managed to stay consistent in my sales goals. I have learned that sales is a numbers game, and although it is not easy it can be learned by anyone. With that said it does take time to learn and hone those techniques. On top of those skills it takes passion and a belief that the product or service you are selling is the best and will produce results. Health is a huge priority for me, it is something I believe can make people successful in life, whether in business, friendships, mental health, education etc. Health can change people’s lives for the better and I would like to be a part of that change. This business would allow me to sell a service that I know for a fact will improve people’s lives. 

WHAT WE OFFER

Many local gyms struggle to market their services effectively. There is many ways to market out there but some ways are more effective. The other issue is once you’ve marketed you’ve still got to close the deal, and that’s the hardest part. It is easy to find a marketing solution to generate leads for your business but then you still need the expertise, time, techniques to close the sale and to follow up with potential customers. All that man hour is not calculated into what these gyms spend on just their marketing. My business will take care of social media marketing, generating leads, and then following up and converting those leads into customers. Most gyms already pay for some kind of social media marketing, all we would do is take care of the labor that comes with maintaining that social media presence and the sales process that comes after. We would charge about the same rate as they are paying now plus some additional fee for the maintenance. The small gym owners or managers will not have to hire more staff, train their staff, meet potential customers, or even answer the phone. All they would have to focus on is what they are already too focused on, and that is providing exceptional quality to their customers.

WHO ARE OUR CUSTOMERS

My customers are small local gyms that are looking to grow their business. These can be anywhere from CrossFit gyms, to boxing and jiujitsu, to powerlifting, etc. Many of these gyms have an owner, sometimes a co-owner and maybe a manager that takes care of almost everything. They have a location and rely heavily on good google reviews and word of mouth. Most of their new clients are member referrals or have heard of the gym through social media posts. These gyms have locations that can fit anywhere from 50-200 members. They also provide a lot of group fitness classes and one on one, so they are not just a normal gym open 24/7.

WHY DO CUSTOMERS CARE

In a town like Gainesville, where there is an abundance of students, these businesses have to continue to attract customers or else they could go out of business. I spoke with one of these gym owners that said at the beginning of summer their gym lost approximately 20 customers due to school break and graduation. If you do the math at $100 a month that’s $2,000 in revenue lost, but most of these gyms charge more. On top of that many gyms pay for advertising, but they do all the hard work of closing sales. My company will give them that time back and in turn save them lots of money.

WHY US

I have the experience in sales and have learned techniques that will help grow these businesses. Not only will they grow but we will teach gyms how to optimize their sales and advertising efforts. Also, my company is local, these gym owners will be able to see us doing work and bringing in potential customers so unlike online advertising companies they will see results quicker. Another reason my company will be different is that I have been to most of these gyms as a customer, I know what they look like, what they provide, what kinds of people they attract, and what makes them attractive. 

SUMMARY & FEEDBACK

I feel like for the most part most elements fit together. One issue that was brought up was how to keep these gym owners and managers involved socially while taking over their social media advertising. Most of these people have had to do everything in their business, it might be a big change and although it would free up time it might be something they might miss doing. My goal is not to disconnect them from their social media work but to help optimize their efforts. That is one issue I am working on right now. Other than that, the sales efforts are pretty self-explanatory and something I don’t think will be an issue with any gym.

Although I did not include it because I don’t think it is the right assignment to do so I got a lot of great feedback about pricing and how to arrange that with my customers. I included a little bit of that in a previous paragraph, but the bulk will most likely be written on another assignment. I really liked the quote “health equals wealth, it helped me to adjust the beginning paragraph of this assignment by stating how this service can help people become more successful in life. And lastly, I received some feedback that stated how my service could help optimize gyms marketing efforts. That is the perfect word to describe my goals.