HELPFUL INFORMATION FOR YOUR BUSINESS DURING COVID-19

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MindBody Bold

A few weeks ago, I had the pleasure of attending the MindBody BOLD conference in Anaheim. This is the fourth BOLD conference I have been able to attend, and it never fails to disappoint. If anything, I always leave with too many inspirational ideas. So I thought I would share some highlights and key takeaways from this year’s conference.

#1 – Kristen Bell on stage. I have to be honest, when I closed my eyes, all I could hear was Princess Anna’s voice and I had flashbacks of my kids watching Frozen on repeat. But I loved hearing her story of managing her hectic lifestyle and balancing her life as a parent. My favorite quote – “You always have to love your kids, but you don’t always have to like them.”

#2 – Running into so many familiar faces. I remember the first BOLD conference I went to – I didn’t know anyone. This year, everywhere I turned was another person I recognized. I got to see clients that I have never met in person before. I got to chat with other MindBody Business Consultants who were busy providing free advice throughout the conference. It’s great feeling a part of a bigger community, and that is one of the main reasons I go back to BOLD every year.

#3 – The new competitors in the fitness world. A lot of the talk at the conference was about the new competitors entering the fitness space – from at-home fitness options such as Peloton to app-based workouts. While these new technologies are getting a lot of press, MindBody survey data shows that these options are mostly being used as complements to traditional fitness classes rather than replacements. According to MindBody, 75% of Peloton customers still work out at a gym or studio on a weekly basis.

My biggest takeaway is one that is constant across all industries and all eras. To succeed in business, you have to figure out the thing that you do better than anyone else – and focus on communicating and delivering that thing to your customers.

If all you are selling is a “workout”, you are in trouble. People can get a good workout almost anywhere. People want an experience. They want a sense of belonging. They want a community. Maybe not everyone – but if someone doesn’t want those things, they might not be the right fit for you. 

So figure out your “secret sauce”. Understand what makes you different (and better) than your competitors. And once you know what that is – make sure everyone else knows it. Your marketing, your customer experience – everything you do should be communicating that message so people know why they should belong to your studio.

I can’t wait for BOLD 2020.

 

About the Author

Andy Smith

Andy Smith

Andy Smith, Founder of Numberwise, has been a CPA since 2004 (pretty impressive, huh?). He leads the strategic vision of the company, signs all those fun tax returns, and tries not to get in the way too much. Learn more about Andy and the rest of the team on the About Us page.
Andy Smith

Andy Smith

Andy Smith, Founder of Numberwise, has been a CPA since 2004 (pretty impressive, huh?). He leads the strategic vision of the company, signs all those fun tax returns, and tries not to get in the way too much. Learn more about Andy and the rest of the team on the About Us page.
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