The problem with my blog is i try to write too much and try to be too in-depth. I'd like to make this blog more frequent, especially as some great things are starting to happen! Besides a very successful triathlon season, right now i'm in the very early stages of forming a triathlon team. It's being formed with a friend of mine, who i graduated from PC with. However, it took us 15 years to become good friends thru...yes, you guessed it, triathlon!
Anyway, after a year of training together, and talking about the benefits of forming our own team where we could run it our way, we finally put pen to paper and laid the ground work. Fast forward 2 months later, and we are a finished logo away from going live! What's going to make our team different is size and network.
First size...yes it does matter. We're committed to staying "exclusive". We both live crazy lives with family, work, and training and don't have time nor energy to run a team that made up of hundred(s) of members. So right now, our goal is no more than 15. Plus, with an exclusive team, we can make sure our members are 100% committed...which has led us to...
Network or sponsors. We initially went national looking...the usual big Tri names. After some minor success, we pulled back and decided to go 100% local. We have nailed down a local bike shop and run shop (both with National, if not worldwide presence), a local nutrition company, a local indoor cycling training center, a local (and former Friar) sports drink company, and a local Tattoo gallery who is working on logos. Not only do we have high-class products, but b/c we have stayed "exclusive and local", all these sponsors are committed to going above and beyond the usual 10% discount. I trully believe that the ancillary perks we have already received have far out-weighed getting "larger" company commitments. That's not to say we're going against big corporate; on the contrary! We're just supporting our local people first and using their connections to get us better leverage.
Why am i writing about this under a business blog?? Because we are building an amazing network of members and businesses who are wiling to commit 100% to each other to see everyone succeed at all different levels. It's amazing the power of the network... especially in the world of Triathlon. Stay tuned for more updates...
Wednesday, January 11, 2012
Wednesday, June 15, 2011
$2.2 million in 10 minutes...
That's the approximate amount of money that roughly 2,500 age-group triathletes handed over to the World Triathlon Corporation at noon today to secure their slot for the inaugural Ironman U.S. Championship. This 104.6 mile tri will be held August of 2012 in NYC and New Jersey. What's also amazing is that is was just announced last week...talk about impulse buying! When it was announced, there was so much negativity about the event. From the swim in the Hudson to the fact that is mostly takes part in NJ, there was much commentary about why this event would fail, let alone sell-out. Now, one week later, most of the negativity is around how fast it sold out and who wasn't able to get it.
There's also the talk about the price: $895 + the registration fee. This will make it the most expensive Ironman to date...but you know what, people paid it! The fear now is that b/c WTC was able to get this fee, where do they go from here?? Do they increase the fees of other events? Do they try for $1,000 next year for IMNYC?? Who knows...but what i do know is that WTC is a for-profit corporation who almost has a monopoly on their product. Yes, other events are now popping up, and the ones that stick around tend to be of high quality...REV3 comes to mind. But the advantage that WTC has is Kona...the Holy Grail of every triathlete. By being able to give out Kona slots at their events, they can continue to ask for a premium on their races.
As they saw today, if people are willing to pay over $900 for an event, they are certainly not asking too much. I'm sure they will never lower the entry fee, but at some point, there will be a cost for raising the price too much. They made that mistake last year with their "Ironman access program." For a $1,000 membership, you were allowed to register for events one week in advance. This received so much negative publicity, that they quickly dropped the program. Maybe $1,000 was a little steep for advanced registration, but where is that break even between charging too much (& pissing people off) and charging too little that events sell out in minutes, if not seconds?? Who knows this answer, but as long as triathletes keep spending $$ companies will capitalize on it...and if you don't like it, don't register; but i guarantee someone else will.
There's also the talk about the price: $895 + the registration fee. This will make it the most expensive Ironman to date...but you know what, people paid it! The fear now is that b/c WTC was able to get this fee, where do they go from here?? Do they increase the fees of other events? Do they try for $1,000 next year for IMNYC?? Who knows...but what i do know is that WTC is a for-profit corporation who almost has a monopoly on their product. Yes, other events are now popping up, and the ones that stick around tend to be of high quality...REV3 comes to mind. But the advantage that WTC has is Kona...the Holy Grail of every triathlete. By being able to give out Kona slots at their events, they can continue to ask for a premium on their races.
As they saw today, if people are willing to pay over $900 for an event, they are certainly not asking too much. I'm sure they will never lower the entry fee, but at some point, there will be a cost for raising the price too much. They made that mistake last year with their "Ironman access program." For a $1,000 membership, you were allowed to register for events one week in advance. This received so much negative publicity, that they quickly dropped the program. Maybe $1,000 was a little steep for advanced registration, but where is that break even between charging too much (& pissing people off) and charging too little that events sell out in minutes, if not seconds?? Who knows this answer, but as long as triathletes keep spending $$ companies will capitalize on it...and if you don't like it, don't register; but i guarantee someone else will.
Thursday, May 12, 2011
Ironman to ride down Wall Street??
In case you didn't see it, Bloomberg released a story yesterday that the World Triathlon Corporation is close to "bringing an Ironman race to New York City as it seeks to capitalize on the growth of endurance sports among financial professionals." It goes on to discuss the high demographics of triathletes, as well as the growth of our sport over the past 10 years. Since this was posted, i have seen a lot of negativity about having an Ironman in NYC; especially as it relates to "affluent competitors." I believe the problem (if there was one) was the source of the news story: Bloomberg. Obviously a high profile publication such as Bloomberg is going to position the story around Wall Street and affluent individuals vs if this story was published by SI.
But regardless of who wrote the story, i'm confused...why is having an Ironman in NYC a bad thing?? Last i checked, WTC was a FOR-profit company. Now they want to bring one of the fastest growing sports to one of the world's biggest cities with some of the highest demographics?? The only people that should be bitching are the pros who don't make squat from their 50+ hour a week commitment...As this trend continues, and WTC (and other race organizations such as REV3) continue to bring these races to bigger venues/cities, it will hopefully encourage larger corporations to step up sponsorship dollars to our sport. Then maybe that will trickle down to the men and women who make tremendous sacrifices every day of their lives to try and scrape together a living off this sport...the professional triathletes!!!
I'm sick of hearing about "corporate America ruining the purity of our sport." Every sport that is played at the highest levels are all controlled by, and center around, MONEY. This is a fact. The irony is that a lot of people who are bitching are the same people who are attracted to the high demographics of our sport. (IE, they sell their services to people with $$). I have one thing to say: if you're an AG'er and don't like it, THEN DON'T SIGN UP...but i guarantee this venue will sell out in minutes.
But regardless of who wrote the story, i'm confused...why is having an Ironman in NYC a bad thing?? Last i checked, WTC was a FOR-profit company. Now they want to bring one of the fastest growing sports to one of the world's biggest cities with some of the highest demographics?? The only people that should be bitching are the pros who don't make squat from their 50+ hour a week commitment...As this trend continues, and WTC (and other race organizations such as REV3) continue to bring these races to bigger venues/cities, it will hopefully encourage larger corporations to step up sponsorship dollars to our sport. Then maybe that will trickle down to the men and women who make tremendous sacrifices every day of their lives to try and scrape together a living off this sport...the professional triathletes!!!
I'm sick of hearing about "corporate America ruining the purity of our sport." Every sport that is played at the highest levels are all controlled by, and center around, MONEY. This is a fact. The irony is that a lot of people who are bitching are the same people who are attracted to the high demographics of our sport. (IE, they sell their services to people with $$). I have one thing to say: if you're an AG'er and don't like it, THEN DON'T SIGN UP...but i guarantee this venue will sell out in minutes.
Tuesday, May 3, 2011
You really get to know someone when wearing spandex.
My wardrobe consists of 3 things: business suits (with shirts and ties), jeans & t-shirts, and various tri-gear made of spandex and other moisture-wicking material. That's it. I'm not a "clothes" guy, in that i'm either dressed very professionally in a modern cut suit or i'm wearing shorts. I have no casual clothes, and am not into fashion...but i'm always cognizant of how i look in certain company, and try not to "offend" anyone with my various tattoos. This was always an issue when i would meet clients to play golf: there is no way to explain why you're wearing long-sleeves on a 95 degree day or why your legs are silky smooth. Fortunately, that changed when i refocused my business development to the world of triathlon: there is just no way to hide ANYTHING when you're wearing spandex!
I have to say that the best relationships i have formed or are in the process of forming, have come from people i have trained & raced with. It is at that point...when you strip down to your "speedos", that you are fully exposed for anyone to see. But it is at that point, that your level of comfort with someone is solidified. There is no judging, no assumptions, no guessing...your true-self is wide open. Whether you're a high powered attorney, a ceo of a fortune 500 company, or a stay-at-home mom, there is no where to hide in spandex. Triathletes come in all different shapes, sizes, and ages, but at the end of the day, we're all working just as hard at training and at life, regardless of how we look.
Our sport doesn't require collared-shirts or long pants or jackets to be a part. We are a sport where uniqueness is not only welcome, it is encouraged! The crazier the colors, the better. Fluorescent green and hot pink are our uniform. But regardless, there is no judgement and no shame. We are all equal and all are welcome. I believe it is the bond of seeing 98% of someone's body that makes the business relationships i have ones that will last forever. Next time you're sharing a swim lane with your speedo-brethren, take a guess at what that person does for a living...i guarantee that you'll have no idea b/c on the course, we're all equal. Don't be shy...strip down to your spandex...show us your true-self; you'll be surprised who you meet and the relationships you form!
I have to say that the best relationships i have formed or are in the process of forming, have come from people i have trained & raced with. It is at that point...when you strip down to your "speedos", that you are fully exposed for anyone to see. But it is at that point, that your level of comfort with someone is solidified. There is no judging, no assumptions, no guessing...your true-self is wide open. Whether you're a high powered attorney, a ceo of a fortune 500 company, or a stay-at-home mom, there is no where to hide in spandex. Triathletes come in all different shapes, sizes, and ages, but at the end of the day, we're all working just as hard at training and at life, regardless of how we look.
Our sport doesn't require collared-shirts or long pants or jackets to be a part. We are a sport where uniqueness is not only welcome, it is encouraged! The crazier the colors, the better. Fluorescent green and hot pink are our uniform. But regardless, there is no judgement and no shame. We are all equal and all are welcome. I believe it is the bond of seeing 98% of someone's body that makes the business relationships i have ones that will last forever. Next time you're sharing a swim lane with your speedo-brethren, take a guess at what that person does for a living...i guarantee that you'll have no idea b/c on the course, we're all equal. Don't be shy...strip down to your spandex...show us your true-self; you'll be surprised who you meet and the relationships you form!
Friday, April 8, 2011
Triathlete Business Network...1 year later.
As i'm standing on the 15th green of what has already been a long day, i see a guy fly down the road on his totally tricked out carbon rocket enjoying the day and our sport...then it finally hits me!!! Why am i spending 5+ hours a week (time that i really don't have) to play a sport that i despise?? Oh yeah, it gets me in front of people that i should be doing business with....there has to be a better way than swinging a club at a ball and then walking after it, only to do it all over again!!!!
Fast forward to March 1, 2010: the launch of TRIATHLETE BUSINESS NETWORK. My description of my LinkedIn group: "Triathlete Business Network is a group that has been developed for the triathlete who is balancing training & racing with running (pun INTENDED) a successful business. This is a great place to share ideas and get advice on either the business or triathlon side or a combination of both.
Whether it's making new connections, starting discussions, or setting up group swims, rides, or runs, TBN is open anyone who wants to network with other triathletes. I have found that by nature of what we do, triathletes are very focused in both training and business and are willing to help each other out and share ideas. Feel free to give advice, ask for ideas, or make new connections with others.
If you're passionate about the sport of Triathlon, I encourage you to join our group!!"
Fast forward to March 1, 2010: the launch of TRIATHLETE BUSINESS NETWORK. My description of my LinkedIn group: "Triathlete Business Network is a group that has been developed for the triathlete who is balancing training & racing with running (pun INTENDED) a successful business. This is a great place to share ideas and get advice on either the business or triathlon side or a combination of both.
Whether it's making new connections, starting discussions, or setting up group swims, rides, or runs, TBN is open anyone who wants to network with other triathletes. I have found that by nature of what we do, triathletes are very focused in both training and business and are willing to help each other out and share ideas. Feel free to give advice, ask for ideas, or make new connections with others.
If you're passionate about the sport of Triathlon, I encourage you to join our group!!"
Ok, now that i set it up, how do i get people to join??? I send out 20 invites to my contacts on LinkedIn that have a connection to triathlon. This blast email consists of a few clients, some friends, a couple "titans of our sport", and a few pros. Then i sit back and wait....I log onto the site a couple hours later, and HOLY SHIT, i have 3 members! Within the next 24 hours, i get back about 7 more responses...and they're not just my friends! Right away, 2 pros have joined, and a couple others that are house-hold names in our sport.
Now here's where it's gets really interesting...social media is viral, and i saw it happen right before my eyes. Within a month, my group grew to about 50 members, most of them coming from connections of connections of members...very cool. So i go through LinkedIn and send out 5 new invites every day for a few weeks to people that i know will be a great addition to our community; and sure enough, people keep joining! Within 4 months, we have over 100 members, and steadily growing each day. Without name-dropping, our members include: some of the brightest minds on Wall Street and Main Street, CEO's of the the world's biggest triathlon companies...from wetsuits to bikes to sneakers, creators of the biggest brands our sport has seen, from gear to nutrition and everything in between...the fastest American at Kona last year, the current Ironman World Champion, along with countless other pros, both current and retired, as well as some of the most amazing age-groupers in the WORLD!!!
Ok, now that i have members, how do i make the group worth someone's membership??? This is the great part about an online community, if you have the right people, it just runs itself. I start an "introduction" thread, where new members can tell us about their business and their relationship to triathlon. Other threads start popping up, and the group just hums along. People posting questions about starting a new triathlon company and looking for feedback; coaches looking for clients and vice-versa; links to discounts; face-to-face meetings at events; discussions about the business side of our sport!!!
Ok, now what??? I start making connections with the majority of the members, and start building my network of people that i not only want to swim, bike, and run with, but also have as clients. As i look back one year later, i have made the most amazing connections with some of the most amazing people. My business has grown exponentially over the past year, and i owe it all to the connections that made through this group. And the best part, is that every day, just when i think that i've saturated the market, 4 new people join, and i meet new people to add to my network. My client base is now slowly being made up of people who know what's it takes to run a successful business, while balancing training and family life...4:30 run anybody??? I am totally amazed where this is going and i can't wait to see what the next 12 months have in store!!
Check us out and please feel free to join our community: TRIATHLETE BUSINESS NETWORK.
Friday, March 18, 2011
Follow up to the Triathlon America conference: The Business of Triathlon.
Last month i posted my initial opinion on Triathlon-America and their first conference: The Business of Triathlon. Unfortunately, i did not attend, but i was able to hook up with Ben Greenfield, head triathlon coach at www.pacificfit.net and get his thoughts on the 2 day event.
Ben is a member of Triathlon America and initially joined because the "membership lowered the conference fee, but now I’m very excited about the potential for social networking opportunities beyond the actual conference, if Triathlon America engages it’s Facebook followers, introduce a forum or LinkedIn group, etc. I’m hoping that happens." Are you guys listening??
Although Ben offered to be a speaker and teach a "Business of Triathlon Coaching" session, he never heard back. Regardless, he didn't mind as he "slipped in and out of a few sessions, but spent most of the time networking and talking with people outside of the seminars, which is my MO at most conferences. I was also doing media coverage of the event for www.everymantri.com."
Ben summed up the conference by saying "It was one of the more valuable face-to-face networking opportunities in the sport of triathlon, in my opinion. Talking on forums, e-mailing, or speaking on the phone simply doesn't hold a candle to eating lunch with someone or even having a few too many drinks together." And he would definitely attend again "for the networking opportunities. And the food was pretty damn good too." You know us triathletes...it's all about the food!!!
Thanks Ben for your honest feedback. Please take a minute and check Ben out at www.pacificfit.net.
Ben is a member of Triathlon America and initially joined because the "membership lowered the conference fee, but now I’m very excited about the potential for social networking opportunities beyond the actual conference, if Triathlon America engages it’s Facebook followers, introduce a forum or LinkedIn group, etc. I’m hoping that happens." Are you guys listening??
Although Ben offered to be a speaker and teach a "Business of Triathlon Coaching" session, he never heard back. Regardless, he didn't mind as he "slipped in and out of a few sessions, but spent most of the time networking and talking with people outside of the seminars, which is my MO at most conferences. I was also doing media coverage of the event for www.everymantri.com."
Ben summed up the conference by saying "It was one of the more valuable face-to-face networking opportunities in the sport of triathlon, in my opinion. Talking on forums, e-mailing, or speaking on the phone simply doesn't hold a candle to eating lunch with someone or even having a few too many drinks together." And he would definitely attend again "for the networking opportunities. And the food was pretty damn good too." You know us triathletes...it's all about the food!!!
Thanks Ben for your honest feedback. Please take a minute and check Ben out at www.pacificfit.net.
Friday, March 11, 2011
Take off your business suit and put on your wetsuit!
"When business competition is not enough..." This is the tag-line for Ted Kennedy's company: CEO Challenges. A company that allows business owners to step outside of the boardroom, take off their $1,000 dollar suits and then slide into a $600 wetsuit, climb aboard a $5,000 bike, and run in a pair of $125 sneakers...to determine who is the fastest CEO.
I met Ted less than a year ago through LinkedIn...what became a few email exchanges turned into a run in Central Park with a few of his business associates. Most recently, he invited me back to NY for a kick-off event for his latest event: The CEO Endurance World Championship. This event takes place in Hawaii, with the goal of determining the "healthiest and fittest C-level Executive in the world."
Let me say this: Ted gets it! CEO Challenges is one of those companies who's taking full advantage of the dollars in the world of endurance sports. Tuesday's kick-off event was held at the Forbes Building on 5th Avenue. With the majority of their marketing going thru Forbes magazine and the WSJ (vs. triathlon magazines), they are focusing directly on the CEO. One of the title sponsors of their events is Chartis...once again, a major player in the world of Private Client Insurance. Who else was at the event?? NetJets for one! Champion Systems...creator of personalized training and racing gear. One of my conversations with a few individuals centered around using a high-end luxury car (who i won't name at this time) at the event...
ARE YOU SEEING A PATTERN HERE??? The world's most recognized financial magazine...one of the biggest insurance providers to high-net worth individuals...a private jet service...the maker of personalized racing gear...luxury cars...and of course wealth management...
I have to say that it was a truly impressive event and the connections i made were amazing. There is nothing better than mingling with individuals who all "play" in the same pool of clientele, but you can spend 95% of the conversation to talk about triathlons vs "business". There was a great connection with everyone you spoke with ...most of us there were up at 5:00 that morning to get our workout in, went about our daily routine of balancing family then work, and headed over to the event at 6:00 that evening to build more relationships...only to get up the next day to do it all over again. It was both refreshing and invigorating to be around these people! It was such a great opportunity to network with successful people who all choose to focus positive energy on balancing a successful career, an amazing family, and finding an additional 10+ hours in the week to swim, bike, and run...
I'll keep you updated on what CEO Challenges is doing, but in the mean time, check them out at http://www.ceochallenges.com/.
I met Ted less than a year ago through LinkedIn...what became a few email exchanges turned into a run in Central Park with a few of his business associates. Most recently, he invited me back to NY for a kick-off event for his latest event: The CEO Endurance World Championship. This event takes place in Hawaii, with the goal of determining the "healthiest and fittest C-level Executive in the world."
Let me say this: Ted gets it! CEO Challenges is one of those companies who's taking full advantage of the dollars in the world of endurance sports. Tuesday's kick-off event was held at the Forbes Building on 5th Avenue. With the majority of their marketing going thru Forbes magazine and the WSJ (vs. triathlon magazines), they are focusing directly on the CEO. One of the title sponsors of their events is Chartis...once again, a major player in the world of Private Client Insurance. Who else was at the event?? NetJets for one! Champion Systems...creator of personalized training and racing gear. One of my conversations with a few individuals centered around using a high-end luxury car (who i won't name at this time) at the event...
ARE YOU SEEING A PATTERN HERE??? The world's most recognized financial magazine...one of the biggest insurance providers to high-net worth individuals...a private jet service...the maker of personalized racing gear...luxury cars...and of course wealth management...
I have to say that it was a truly impressive event and the connections i made were amazing. There is nothing better than mingling with individuals who all "play" in the same pool of clientele, but you can spend 95% of the conversation to talk about triathlons vs "business". There was a great connection with everyone you spoke with ...most of us there were up at 5:00 that morning to get our workout in, went about our daily routine of balancing family then work, and headed over to the event at 6:00 that evening to build more relationships...only to get up the next day to do it all over again. It was both refreshing and invigorating to be around these people! It was such a great opportunity to network with successful people who all choose to focus positive energy on balancing a successful career, an amazing family, and finding an additional 10+ hours in the week to swim, bike, and run...
I'll keep you updated on what CEO Challenges is doing, but in the mean time, check them out at http://www.ceochallenges.com/.
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