Category

Profit First

Pause And Respond

By Blog, Profit First No Comments

The first time I heard about this concept of Pause and Respond was when reading a book by Viktor Frankl titled Man’s Search for Meaning.   He says that “between stimulus and response, there is a space of time”. When something happens to you, that is what is referred to as the “stimulus” and before you respond, there is an opportunity to stop and process…

Read More

Are You Tracking Member Attendance?

By Blog, Profit First No Comments

Today’s topic…Tracking Member Attendance.   I touch on the importance of Tracking Member Attendance a bit more in my book Profit First For Microgyms, but today, I wanted to go over it briefly for you.  Tracking Member Attendance is not necessarily about tracking EVERYONE who attends, but tracking when members DON’T attend or maybe only attended once or twice. These numbers can be a KEY PREDICTIVE…

Read More

Accurate And Consistent Bookkeeping

By Blog, Profit First
Do you struggle with accurate and consistent bookkeeping? Today’s tip is really 2 tips in one, but it all has to do with keeping a healthy bookkeeping system.   At the core of it all, it comes down to BEING accurate and consistent. This means that when we have a transaction, we record that transaction the same way EVERY TIME.    For example, let’s say...
Read More

Understanding Your Gym’s ARM

By Blog, Profit First
Today I want to help you understand an interesting metric known as the “Average Revenue Per Member”, or ARM for short. This is a very important metric because you really want to see it trending UPWARD as your business grows. We talk more about it in my book Profit First For Microgyms, but today, I am going to give you a short overview...   As...
Read More