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Making a splash: In an IHRSA Convention first, Xercise Lab held an evening exercise session in the Mandalay Bay outdoor pool


– are contagious, during Connected: T e Surprising Power of Our Social Networks & How T ey Shape Our Lives. “Our infl uence doesn’t stop with people we directly interact with. It spreads through our networks,” Christakis said. “‘Pay it forward’ is real.” Chip Conley was the third general session


speaker with his talk entitled PEAK: How Great Companies Get T eir Mojo From Maslow. T e founder of Joie de Vivre – California’s largest independent hotel company and America’s second largest boutique hotelier – Conley understands the importance of keeping customers happy. He has applied psychologist Abraham Maslow’s Hierarchy Of Needs pyramid to his business, and it has fl ourished as a result. Almost three-quarters of a company’s


customers will readily leave if all you are doing is satisfying them, Conley told the audience. It’s when you meet their unrecognised needs – the ones they are not even aware of – that they are happy. T is happened for his company at one hotel in the San Francisco business district. Conley decided, with no statistics or customer requests to support the decision, to put a yoga studio where a penthouse room could have been. Soon aſt er, there was a waiting list for the daily morning classes. “We


April 2013 © Cybertrek 2013


connected with our customers on a personal basis, not a demographic basis,” said Conley. On the fi nal day of the convention, Peter


Sheahan presented FL!P: Creative Strategies for Turning Challenge into Opportunity, and Change into Competitive Advantage. Sheahan is an author and the founder & CEO of ChangeLabs in Australia. During his session, he described fi ve strategies for ‘going from why to how’. Sheahan urged attendees to make manageable bets when it comes to their business and their career. Start small, take controlled bets and then scale according to the success, he advised. “Don’t judge your decision by the amount of money it makes but by how quickly you learn how to make money,” he said.


Positive futures T e audience at the 17th Annual Financial Panel was a who’s who of the industry. Taking place every year at IHRSA, this is a must-attend session for CEOs, CFOs, club owners, GMs, investors, suppliers, press and all who are interested in the current economic conditions aff ecting the worldwide health club market. Each of the presenters who made up this


year’s panel has been involved in a major club transaction within the past six months,


Lifetime achievement


Rick Caro, a 40-year fi tness and health industry veteran, was honoured with the inaugural IHRSA Lifetime Achievement Award for his tireless work, innovative ideas and leadership. Caro, a past IHRSA board president


Veteran Rick Caro (left)


as well as a former owner and operator of health clubs, authored the pre-eminent industry textbook on fi nancial management. He is now president of Management Vision, a leading consulting fi rm specialising in the health club industry.


and provided a unique viewpoint on the fi nancial factors that infl uence our industry. T e panellists included: • Jon Canarick, MD, North Castle Partners • Doug Lehrman, CEO, Pulse Equity • Kayvan Heravi, partner, LNK Partners • Diego Cordoba, MD, Teka Capital


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