20200224_085227
Top 10 Ideas from Recent REX Roundtables
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Eddie Tock
CEO, REX Roundtables for Executives

All of us have fought hard in the past 18 months to recover our business, our health, our stress, and our sanity.

In recent months, more than 90% of the REX Roundtables members’ clubs have experienced an upswing and revival. At REX, we also have experienced a comeback and have grown by over 50 new REX members with four new groups starting! Just as clubs have experienced a surge in new sales and growth, this has been our fastest growth in 32 years doing Masterminds in the Fitness Industry!

After 19 months of biweekly Zoom calls for our REX Round-tables around the world—keep in mind, that’s around 753 Zoom meetings (90 minutes each!)—we compiled the top 10 ideas that have enabled businesses to power up to profit as we begin a new normal in the industry.

  • 1. Rethink staff needs.
    Reducing staff but then upping the engagement and responsibilities of returning staff. All clubs are doing more with less and finding out that maybe we were overstaffed before.
  • 2. Rebuild the onboarding process
    Do it for new members and current (though frozen) members. One of the top requests of returning members was that they wanted help.
  • 3. Maintain marketing.
    Throughout 2020, it was important to keep brand awareness up and relevance top of mind. With less than 25% of the population as members of gyms, it was even more important to turn up the marketing to reach out and grow the 75% who don’t visit clubs. This year, it’s still important.
  • 4. Open targets for digital markets to include recreational activities, seniors, deconditioned, COVID-cautious members.
    We learned that we must think beyond our former business model and take more “rifle shots,” as defined by Jim Collins in Great by Choice. By using the rifle shots—low cost, low risk, and low distraction—you can experiment with new concepts and processes.
Here are just a few of the reasons why 99% of the 2,700-plus REX clubs worldwide survived the pandemic and came out stronger!
  • 5. Relaunch club university (staff training) for all
    Not just new employees. Re-energize, inform, and reinvigorate your team. Learning never stops!
  • 6. Apply for every grant, loan, and “free” money available to you.
    The speed of sharing funding options among REX members was days, not weeks, in helping each other with this.
  • 7. Use your REX relationships for personal mental health.
    Every REX Roundtable grew closer than ever with amazing support of each other, not just in business, but especially personally. We vented, cried, cheered, and expressed every other emotion to feel supported during the pandemic.
  • 8. Reset financial expectations.
    All REX members changed their models or processes to be more efficient and profitable. This meant changes to payroll and other requirements to be profitable as EBITDA was squeezed. This way of doing business is here to stay.
  • 9. Stay positive as a leader.
    Prioritize what really matters with tools from our speakers’ series, par­ticularly with Dana Cavalea, former strength and conditioning coach for the New York Yankees. We all get stuck in patterns of thoughts and ways of doing things. Change the pattern, change the results.
  • 10. Optimize your dues.
    Can we raise prices in this new way of doing business and reclaim profits? YES! Many REX members are raising their rates 2–10% in the coming months—have you?
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