Health Club Consultant
Effective team meetings create opportunities for staff to exchange ideas, solve problems together, and get results. The productivity boost from effective meetings can mean more efficiency, higher productivity, and a focus contributing to your profitability and gym business success.
How To Structure An Effective Team Meeting Online Or In-PersonResearch shows top employees are three times more likely to work for a company with a strong sense of purpose. Structuring an effective team meeting helps provide focus and a sense of purpose.
As a team leader, it’s critical to ask the most vital question – is this meeting necessary? If so, your job is to create the structure for a productive team meeting in-person or online.
Here are four effective meeting strategies to make team meetings more effective:
…It's never been easy for aspiring entrepreneurs to start a new business. What's worse, the modern business sphere has more complexity and challenges than ever before. In fact, research shows that approximately 50% of all new businesses don't survive beyond five years.
Well, some manage to stay afloat beyond the five-year mark. However, you may face immeasurable challenges that necessitate swift action followed by adaptation. Doing so will provide the only way for you to thrive.
For those businesses that can't keep up with market changes and trends, the risk of falling to obsolescence is pretty high. Do you remember Myspace? Blockbuster? Blackberry? These businesses failed to adapt quickly to the developments in their space, and right now, we can say they're history.
We can't let you suffer the same fate. T…
Understanding the risk of identity theft to your gym business will help you take the appropriate measures to protect yourself from identity fraud. Many gym businesses don’t protect their data properly, leading to data breaches and a loss of customer trust. Here’s what you need to know about identity theft and how it relates to businesses.
What Is Business Identity Theft?Business identity theft refers to when scammers obtain a business owner’s personal information to pose as them. They use that information to open credit lines, illegally use the business owner’s existing credit cards, take out loans, or obtain tax refunds and other benefits.
Once a hacker has access to your personal information, there's a lot they can do with it, even posing as you to open up fake office locations and scam customers.
An…
Cash flow refers to money put into a business and sent out. Cash flow is essentially the movement of funds. When a business receives money, they want to spend it on optimizing its cash flow better. Optimization of cash flow comes from actively making income from these avenues.
What Increases and Decreases Cash Flow in a Small Business?Do you know how to increase cash flow in a company? Cash flow does not refer to just profits. It's tied to excess funds and expenses. When net income decreases, so does cash flow.
Gym businesses must first pay their liabilities and expenses such as debt, employees, and administration costs. The excess wealth left can improve the business by investing in better equipment to speed up production, generate more revenue through new projects, or put into a savings account to generate interest and be used for emergencies.<…
Having enough cash on hand will ensure your gym business can stay afloat and survive even during difficult economic times. However, just how much cash should a gym business have on hand? Read on to learn how to calculate how much cash a company needs.
What Is Cash on Hand?Cash on hand refers to funds you have set aside for emergencies and other unexpected expenses. Many gym businesses keep money on hand in savings accounts, though choosing the proper high-yield savings account can help you get more out of your money. However, cash on hand can also refer to assets that you can quickly exchange for cash.
In either case, cash on hand shouldn’t be invested into stocks or high-risk investment opportunities. That’s why it’s called “cash” on hand.
Why Your Gym Business Needs Cash on HandHaving cash on han…
Maybe you received a loan rejection or know you have poor credit. Perhaps you have a startup idea and need a small business loan. Regardless of your situation, an unsecured guarantor loan can seem like the ideal solution.
While these loans are less risky for the borrower, there are still consequences for nonpayment. Learning everything you can about guarantor loans will help facilitate your decision.
What Is an Unsecured Loan?Secured loans are attached to physical assets the loan borrower can use as collateral. For example, a mortgage loan for a house uses the home as collateral. If the borrower fails to repay the loan, the lender can re-sell the home to make up for nonpayment.
On the other hand, an unsecured loan has no attached collateral. The lender thus has a higher risk of not receiving payment fr…
If you are a gym owner, you know that overnight, financial situations can change. Now more than ever gyms are aware that financing options are often necessary to get them through tough times such as slow seasons, a recession, or global events like the recent pandemic.
Whatever the case may be, looking into gym business loans and having a plan in place is always a good idea. Below, we will cover tips for people wondering how to qualify for a gym loan, and we will discuss various financing options to help you better decide what is best for your business.
4 Tips To Help You QualifyIf your gym business is struggling, it can be challenging to qualify for a gym loan. Each business situation is different, and each loan has its own requirements. Below are four tips to help you get started if you are wondering how to qualify for a gym loan when business …
When your small business needs funding, an SBA loan may be a great alternative to more common small business loans.
What is an SBA loan?
Simply put, they’re small business loans that are partially backed by the Small Business Association (SBA), a government agency. Because the SBA backs the loan, at least in part, lenders can offer funding on more flexible terms.
Banks and other financial institutions offer SBA loan terms based on the business’s financial records, credit reports, tax returns, and past loan history.
At this point, you might be asking how to get an SBA loan, but you may want to consider a more important question first: how long does it take to get an SBA loan approved?
How Long on Average Does it Take for SBA Loan Approval?Read more about Applying for an SBA Loan? When You Should Expect Funding.