The #1 comeback story.
After the board ousted Steve Jobs in the late 80’s the company went into quick a downward spiral.
Thankfully, the board of directors rehired Jobs, who decidedly took the company back to the top by changing the direction of thinking like every other computer company.
His “Think Different” tagline became so engrained in the Apple culture, that today, Apple is estimated to be the first company to hit the $1 trillion evaluation mark in history.
What was so special about what Steve Jobs did?
He stopped doing what everyone else was doing.
Another mentionable company comeback is Marvel.
Marvel has long been the comic-book world’s biggest player. But in the mid-1990s the comics market crashed, Marvel went broke, and there was no superpower strong enough to stave off bankruptcy.
After restructuring, our hero changed its approach, focusing on movies rather than paper and ink. Today, Iron Man, the Avengers, Spider-Man, and X-Men are all billion-dollar franchises, and the company’s master plan–to connect many of its characters in a single cinematic universe–has turned it into one of pop culture’s most powerful brands.
How does this relate to you and the Fitness Industry?
IT DOES BIG TIME.
This whole industry has been turned upside down. The world we existed in before will not be the same when the world is “open for business” at some point.
We need to re-evaluate how we were doing business and begin to think differently.
Here is what Balanced Habits™ is seeing:
The big-boxes simply closed their doors. Entire staffs were laid off. Because these types of clubs don’t necessarily have personal relationships with their members, and were mainly just providing a multi-modality facility, lots of staff, maybe a smoothie bar and an occasional fitness challenge. And unfortunately with no staff on payroll, they have been unable to provide much value to remind their members where to come back to.
The mid-range clubs and franchises sadly got to the virtual game a little late. As a whole, these types of clubs are providing a decent response, but it’s somewhat generic and in no way community-oriented support to remind their members where to come back to.
The boutiques are the ones that are hustling more than anyone. They have reinvented themselves. They figured out quickly they had to think differently and provide tons of value to retain their monthly revenue. They aren’t necessarily growing their businesses during this time, but they are certainly doing whatever it takes to retain what they had. These are the businesses that have personal relationships with their members, which they are leveraging today. Their members can hardly wait for the doors of their “saviors” to open and come right back in to spend their money because they felt the dedication and loyalty.
Watch this short news outlet video clip featuring one of our most successful authorized partners, who own/operate two boutiques in Los Angeles, CA.
I want to task you to be an Infinite Thinker.
What will you do in the new world to Think Differently?
How will you move your company forward to “virus proof” it for the next time? How will you create and provide more value versus more “things?”
From our vantage point as the Nutrition Solution for our industry, what customers want and need isn’t more Zoom cocktail parties, virtual workouts or emails.
They are struggling with buying, making, and consuming food.
They are struggling without anyone to support them in this important way.
This area of their health has always been the most challenging for people. They need and want a PLAN with someone to hold them accountable. Which is why we just created our first ever all-virtual programming for our partners use until they can reopen their doors. And best of all they can monetize this service, which is really valuable right now!
We have provided for our partners to have something they can actually sell and service for as long as their doors are closed because that’s what partners do! They support one another always, but more so in times of need. The bonus for Balanced Habits™ is that through them, we get to help their community in this important way to be healthy.
As the CEO of Balanced Habits™, I found solace in my research today about world renowned CEOs who have been through a storm or two themselves and have come back through thinking differently.
I hope you are hanging in there ok as we weather this storm. Stay strong. But most importantly stay healthy.
We’ll get through this, ideally better than before.