Art's Blog

Am I Rich... yet? by Art Rothafel

I've been working on the PLF website so I'm pretty much handcuffed to a computer all day.  As such, I've been checking my e-mail quite frequently.  Jeeezzzzz..... I must get more than 100 e-mails a day from gurus who want to tell me how to get rich!  

Yup... from fitness and real estate to investing and internet affiliate schemes.  Do you receive these e-mails, too?

This video sums it all up!

What if You Were a Rocker? ... by Art Rothafel

Talk about a changing marketplace...  How about the music business?

Back in the "day" musicians (who are similar to fit pros in their passion for their craft) typically formed local bands, became hometown heroes and moved to NY, LA or Nashville in hopes of being "discovered."  And, if the dreams came true, the musicians would release a record (vinyl, later a CD) make a video and hit the road performing concerts.  As a result, they would earn a percentage of sales (residuals) on records/CDs, radio play and merchandise.  All of it controlled by the record company.

Then came the internet.  Everything changed from ownership and royalties to distribution and marketing.  Changes in the market literally turned the music business upside down.

What's my point?

That fitness professionals, just like musicians, must continually monitor the marketplace.  Change is taking place before our very eyes.  Look at the success of bootcamps.  Look at fitness phone coaching.  Even our MediCorp MAP website is way ahead of projections. 

The old business model of just selling memberships and/or personal training sessions is becoming less relevant.  More and more the industry is changing its value-proposition by offering all kinds of new services.  Distribution is changing through web-based programs and coaching.  Even the smallest clubs, studios and PT businesses are marketing as well as, if not better than, the big boys with branding, private-label product offerings, community outreach and even web-based social networks for their members/clients.

And, while the industry has not been turned upside-down, there is, no doubt, more change to come.  Just ask a musician.

You're Richer Than You Think.... by Art Rothafel

Did you make a dollar today?  Yes, one $1.00?    If so, you're better off than some of most highly regarded companies in the world.  For example, as of February 9, 2009 your business is more healthy than:

• Chrysler - about 55,000 employees - going Chapter 11
• GM:  On the brink of Chapter 11
• RiteAid:  about 100,000 employees; 1-year price decline: 92%
• Dollar Thrifty Automotive Group:  about 7,000 employees; stock down 95%
• Block Buster: about 100,000 employees; 1-year price decline: 92%
• Krispy Kreme: about 4,000 employees; stock down 50%

How about some banks.  Here are bank failures for just 2009:

1.America West Bank, Layton, UT May 1, 2009
2.Citizens Community Bank, Ridgewood, NJ May 1, 2009
3.Silverton Bank, N.A., Atlanta, GA May 1, 2009
4. First Bank of Idaho, Ketchum, ID April 24, 2009
5. First Bank of Beverly Hills, Calabasas, CA 32069 April 24, 2009
6. Heritage Bank, Farmington Hills, MI 34369 April 24, 2009
7. American Southern Bank, Kennesaw, GA 57943 April 24, 2009
8. Great Basin Bank of Nevada, Elko, NV April 17, 2009
9. American Sterling Bank, Sugar Creek, MO April 17, 2009
10.New Frontier Bank, Greeley, CO, April 10, 2009
11. Cape Fear Bank, Wilmington, NC, April 10, 2009
12. Omni National Bank, Atlanta, GA, March 27, 2009
13. TeamBank, Paola, Kan., March 20
14. Colorado National Bank, Colorado Springs, Colo., March 20
15. FirstCity Bank, Stockbridge, Ga., March 20
16. Freedom Bank of Georgia, Commerce, Ga. March 6, 2009
17. Security Savings Bank, Henderson, Nev. February 27, 2009
18. Heritage Community Bank, Glenwood, Ill. February 27, 2009
19. Silver Falls Bank, Silverton, Ore. February 20, 2009
20. Pinnacle Bank of Oregon, Beaverton, Ore. February 13, 2009
21. Corn Belt Bank and Trust Company, Pittsfield, Ill. February 13, 2009
22. Riverside Bank of the Gulf Coast, Cape Coral, Fla. February 13, 2009
23. Sherman County Bank, Loup City, Neb. February 13, 2009
24. County Bank, Merced, Calif. February 6, 2009
25. Alliance Bank, Culver City, Calif. February 6, 2009
26. FirstBank Financial Services, McDonough, Ga. February 6, 2009
27. Ocala National Bank, Ocala, Fla. January 30, 2009
28. Suburban Federal Savings Bank, Crofton, Md. January 30, 2009
29. MagnetBank, Salt Lake City, Utah January 30, 2009
30. 1st Centennial Bank, Redlands, Calif. January 23, 2009
31. Bank of Clark County, Vancouver, Wash. January 16, 2009
32. National Bank of Commerce, Berkeley, Ill. January 16, 2009

How about newspapers... How many of them are on their last legs?  The NY Times?  Boston Globe? 

So, if you made even $1.00 dollar in profit today... you're richer than you think!