New Years Eve

This is my favorite New Years Eve Wish lists.  My friend Jon Gordon passes this on to me every year and wanted to share them with you.

1. Stay Positive. You can listen to the cynics and doubters and believe that success is impossible or you can know that with faith and an optimistic attitude all things are possible.
2. When you wake up in the morning complete the following statement: My purpose is_______________________.
3. Take a morning walk of gratitude. It will create a fertile mind ready for success.
4. Instead of being disappointed about where you are think optimistically about where you are going.
5. Eat breakfast like a king, lunch like a prince and dinner like a college kid with a maxed out charge card.
6. Transform adversity into success by deciding that change is not your enemy but your friend. In the challenge discover the opportunity.
7. Make a difference in the lives of others.  Make this your year of GIVING
8. Believe that everything happens for a reason and expect good things to come out of challenging experiences.
9. Don't waste your precious energy on gossip, energy vampires, issues of the past, negative thoughts or things you cannot control. Instead invest your energy in the positive present moment.
10. Mentor someone and be mentored by someone.
11. Live with the 3 E's. Energy, Enthusiasm, Empathy.
12. Remember there’s no substitute for hard work.
13. Zoom Focus. Each day when you wake up in the morning ask: “What are the three most important things I need to do today that will help me create the success I desire?” Then tune out all the distractions and focus on these actions.
14. Instead of complaining focus on solutions. It’s the key to innovation.
15. Read more books than you did in 2012.
16. Learn from mistakes and let them teach you to make positive changes.
17. Focus on “Get to” vs “Have to.” Each day focus on what you get to do, not what you have to do. Life is a gift not an obligation.
18. Each night before you go to bed complete the following statements: I am thankful for __________________.  Today I accomplished________________________________.
19. Smile and laugh more. They are natural anti-depressants.
20. Enjoy the ride. You only have one ride thru life; make the most of it and enjoy!!

And last but not least:

Best Wishes To Our Friends and Family and Families of Our Friends For                                    A Happy, Healthy                                              and Prosperous New Year!

Why You MUST get a Better Customer in 2013

Frequently, I have written about the need to get better customers; by “better customers”, I simply mean not that they are better people, but the fact that they have more discretionary income to spend on leisure and entertainment.  This observation was made via many on site visits to location based entertainment facilities (LBE), whether they are bowling centers, FEC’s or merely birthday party venues.

So yesterday, while wrapping up some end of the year stuff, I came across some information from Randy White, CEO of White Hutchinson, (a world class entertainment consulting company),  To my glee, and to support my “marketer’s eye for observation, analysis and conclusions; there are actually empirical studies that have been undertaken and published.

Here are some observations from these studies:

·         In 2002, the highest 20% of income households ($95,000+ incomes) accounted for 44% of all Location Based Entertainment spending. It grew to almost half (48%) in 2011. However, household LBE spending has declined for all income groups with the highest ($95K+ income) group showing the least decline. Overall, the average American household spent 18% less on location-based entertainment in 2011 than 2002.

 

Declines were not caused by the Great Recession, but rather are a long term trend.

·         The overall participation at location-based leisure venues declined by 17% between 2003 and 2011. What this strongly suggests is that the decline in household entertainment spending is mainly attributable to declines in attendance, not per capita spending on visits. The greatest attendance declines have been with the lower socioeconomic households.

·         Middle income households, those earning between $35,000 and $90,000 spend approximately $358 per household annually.  Approximately 35% of these dollars are spent gambling) the number could be higher due to bias about reporting gambling losses.  (if they spent it all on bowling, that's about two or three annual visits)

So what does this mean to you?

·         These higher income groups who are spending more money on entertainment have higher expectations, not just from a facility standpoint, but from a food and beverage perspective. They also view entertainment as a chance to socialize more with family and friends.  Perhaps it is time to look at that boutique set up to attract this higher demographic.

·         While lower income and middle income households are spending less, and this is a long term trend – not just attributable to the Great Recession of 08 – the bowling operator will have to continue to restructure pricing, take a hard look at the center’s amenities and long term capital needs to attract the “better customer” since many of these lower and middle income people have moved their dollars to gambling and stay at home activities like video games, Netflix and TV, etc…and with the exception of “low price offers” are spending less on bowling.

Something to think about for 2013. 

I sincerely hope it’s a great one for you, your family and your business!