Insights With Trent Munday

In this, the final episode of Trent365 for 2019, I wanted to leave you with a Gary-ism. Or is it a Vayner-ism? A Word of Wisdom from Gary Vaynerchuck. To achieve success, Audacity is important. You need to dare to dream and dream big. You must have those big, hairy, audacious goals. However, without genuine Empathy, chances are, you will never reach the heights of success in life that strive for. Understand that people don't really care about you and your thing. They care about themselves and their thing. And so they should. The ability to simultaneously hold onto Empathy and Audaciousness...that's the unlock. #empathy #audaciousness #keytosuccess

He Who Can, Does. He Who Cannot, Teaches. That quote is attributed to George Bernard Shaw. Well, I've got a bit to add to it. Those Who Aren't Sure, Create Content. I genuinely believe that the more you try to put your thoughts into words - be that in written, video or audio format - the quicker and more completely it is that you will understand them. Too many people are reluctant to say it out loud until they are 100% clear of the thought, it's intent and the desired outcome. The vulnerability of saying it as you're thinking it can actually be quite liberating. #clarity #thought #contentstrategy #thoughtprocess

TimeBoxing is a great system of time management. It's basically a way to power-up your To-Do List. The idea is that you allocate a fixed period of time within which to complete a task. Once that time is up, you're done. It's great, in fact maybe essential, for those working on projects with fixed deadlines. The concept was first introduced by James Martin, author of the book Rapid Application Development. Here's a great explanation of the concept... https://clockify.me/timeboxing #timemanagementtips #timemanagement #productivity

Are you still questioning the value of making your content available in audio format? Listen to this... Danish online magazine, Zetland, started getting the authors of the stories published on the site to read them and make them available in audio format, right alongside the text version. Within 2 months, 40% of the consumption on their site was from the audio content. In under 6 month, audio represent 50% of the content consumed on the site. Today, audio is 70% of their traffic. Audio listeners stay longer, engage more with the site and generally become more loyal to the brand. #audio #contentstrategy #mediacompany

The Toothbrush Test is credited to Google founder, Larry Page. It's a simple criteria he applies when they look at acquiring new companies. They only want to buy companies who have a product or service that people need to use at least once or twice every day. Like a toothbrush. Recently, I was trying to think of a Wellness opportunity that would pass the Toothbrush Test. Then I realised, the answer was right there within the Test itself. Wellness Toothpaste! As far as I know, I don't think there is a brand of toothpaste that has yet positioned itself as THE 'Wellness Toothpaste'. And I reckon it's actually a pretty big marketing opportunity. What do you reckon? #newproducts #wellness #marketing #branding

As humans, we seem to be almost programmed to focus on the negative, rather than the positive. But a recent article in Harvard Business Review suggest that embracing and understanding the positive feedback we get may well be the key to unlocking real, long-term, sustainable personal growth and success. That does not mean just graciously accepting the praise. Instead, you need to analyse it and understand what it's really telling you about your core strengths and competencies. Then, wherever possible, you can set about trying to double-down on those strengths and ultimately achieve success. Sounds like good advice to me. #personalgrowth #postivefeedback #successfulpeople

While the rest of us are enjoying the Christmas Holiday Season, many more are out there working today. And for those companies that do have people working today, it's actually a great time to build Brand Equity by telling your Christmas Work Stories. Whether it's the special Christmas lunch in the staff canteen, or someone giving you a little Christmas pudding coz they see that you're missing out on Christmas, or the little bit of sadness you have at missing your family Christmas.  All of those little experiences, if they are true and genuine to your people, help build your Brand Story. After all, a brand is really the sum of the people who interact with it. So, start documenting your Christmas Work Stories today and then next year, maybe a week before Xmas, you can start sharing those stories and giving your customers a little genuine insight into who you are. A glimpse behind the brand curtain. Happy Happy Ho Ho! #christmasstory #brandstory #brandstorytelling #brandstories  

Hospitality consulting firm Hotelivate, has just just released their Hotel Management Contract Survey 2020 – South Asia, entailing a comprehensive review of 85 contracts/LOIs, representing around 16,200 rooms, signed in the region over the last two decades. For anyone doing business with hotels, the report provides some interesting insights into the commercial terms and structures that apply to these hotel management companies. Two key takeaways... 1. The average term of a hotel management contract is around 20 years 2. The average base fee earned by these hotel management companies is 2.35% of gross hotel revenue. For more information or to order your copy of the report, follow this link.. https://hotelivate.com/hotel-development/hotel-management-contract-survey-2020-south-asia/   #hotels #hotelmanagment #hotelindustry

If you're in a consumer-facing business, chances are you spend a lot of time thinking about the environment you create for your customers. What's on the wall? How's the lighting? What music is playing in the background? What ambience are you creating for them? Why? Because it matters. But what are you doing in your office space? What's on YOUR wall? This matters too. And I'm not just talking about those stock-standard motivational posters. I'm talking about the images & momentos that you see every day. They are having an impact. The question you need to ask is, what is that impact. Here's what's on my wall... #motvation #officedecor #whatsonyourwall #thoughts

Mark Wuttke, President & COO of Barbor Cosmetics in the USA said this... Dreams are free but the journey is not. There is a price that must be paid sooner than expected. The price is almost always higher than planned. The price may also require payment more than once and it is possible to pay too much for your dream.  I think it's really timely advice.  This is the time of year when we seem to encouraged to dream big. Go and make those big, hairy, audacious, New Years resolutions, we're told. Fine. Go ahead. But remember, those dreams will come at a cost. And it will probably end up being far greater than you anticipated. Here's Mark Wuttke's full post - https://www.linkedin.com/pulse/put-your-dream-test-mark-wuttke-%E9%A9%AC%E5%85%8B%E4%BC%8D%E7%89%B9%E5%85%8B-/ #dreams #realitycheck #newyearsresolution  

Thinking Big is important for long term success. But if you do that at the expense of Executing Small, then your business may not survive long enough to reap the rewards of your big thoughts. It's easy to get lost in big picture, strategic thinking. And you should definitely be spending some time in that space. However, make sure you always come back to your current customers. What is happening in your business right now. You need to be able to simultaneously hold some focus on both.  That's the challenge. That's the dichotomy. #thinkbig #bigpicture #execute #strategicthinking 

Personal Branding matters. Whether you're working within a bigger company or organisational structure or out there on your own as an independent business, it's important that those around you know who you are and what you stand for.  That is your Personal Brand. Preferably, you want to be able to distill who you really are at your core in just one or two words. Even better if you can create your own Personal Brand Avatar. Just like Sandy Abrams has done with The Breath Barista. https://www.linkedin.com/in/sandyabrams1/ And just like Beverley Spencer has done as the Confidence Connoisseur. - https://www.linkedin.com/in/beverley-spencer-39aa8017/ #personalbranding #personalbrand #brand #reputation

Intelligent Spas have just released their 2019 Global Spa Benchmark Report. The Report covers over 1,130 operational and financial statistics and data points. Some of the types of Spa benchmarks covered in the Report include Treatment Revenue, Retail Revenue, Spa Visits, Hotel & Resort Capture Rates, etc. Announcing the release of the Reort, Julie Garrow, Founder of Intelligent Spas said, "Our research helps spas tackle the ever-changing conditions of their business environment via updated, high quality industry statistics and we expect the volume of information contained in this report will greatly help spa owners, managers, investors and other industry stakeholders to enhance their performance in a variety of areas." You can get your copy of the report HERE... https://intelligentspas.com/products/global-spa-benchmark-report-2019-by-region?mc_cid=7181002fab&mc_eid=7d1edf1843 AND...if you use the code TRENT20%, you can save 20% off the purchase price! #spaindustry #spametrics #industryreport #b

If you're a supplier of just about ANY goods or services to just about ANY industry, these next 13 days could be HUGE for you! There's just 13 days to go until the end of the year, which for many businesses, also represents the end of the Financial Year. So now is a great time to be invoicing for goods & services that will impact these businesses in 2020...because it means they'll effectively be paying for it in 2019 books. It's almost like getting a head start on 2020. Maybe they've had a great year and so have a bit extra to spend in 2019. Or maybe they've had a horrible year and the year is a write off for them anyway and so they might as well take a little bit more of a hit in 2019, for the sake of getting a running start on 2020. Either way, giving your clients one last opportunity to get an order in that hits the 2019 financial statement, is smart businesses. NB: Thanks to Michael McMillan for highlighting this tactic! #2020budget #financialyear #supplier#invoicing

Massage Guns certainly seem to be having a moment in the sun right now. The Spa purists will no doubt tell you that these relatively simple devices can not possibly replace the skilled hands of a trained massage therapist. And of course, they're right! BUT...what if Spas embraced these Massage Guns instead of dismissing them. Spas could be a natural outlet for people to buy these Massage Guns. What if Spas developed treatments that, and least partially, include the application of these Massage Guns? They could also becoming an interesting extension into Home Care, which will give Spas an opportunity to stay in contact with their guests, long after they have left the Spa. There are genuine opportunities here. Here's an interesting piece from Huffington Post on Massage Guns... https://www.huffpost.com/entry/massage-guns-expert-review_l_5cc861cfe4b05379114b7307 #tomorrowspa #hotelspa #massage #massagegun

There's a great line in the Will Smith movie, Collateral Beauty. Tomorrow is not promised. Whilst I'm not usually one for touting motivational quotes or spiritual realisations, this one simple quote is, I think, a great outlook to have on life. Whether in your business life or your personal life, if you truly appreciate that tomorrow is up for grabs, it lays both the opportunity and the obligation squarely back at your feet. The end of the year is often a time of reflection. Oftentimes we're either patting ourselves on the back for our great results OR finding a way to justify why our failures weren't really all our fault. "It was a tough economic climate this year." "The whole market is really down.'  We've all heard it all (and even said it all) before. But if you accept that Tomorrow Is Not Promised, that means it's also not guaranteed. It's yours to make of what you will. It's up to you.  Now, go and do. #tomorrow #motivation #ownit

UNESCO has just added Traditional Thai Massage to its Intangible Cultural Heritage list. The legend goes that Monks brought these massage techniques and methods, which focus on directing blood circulation to the ares of pain, to Thailand over 2,500 years ago. So, if you offer Traditional Thai Massage on your spa menu, now would be a good time to be educating people on the traditions and benefits of what is now offical recognised as a culturally significant massage modality. Here's a little more information about the announcement from the UNESCO website... https://bangkok.unesco.org/index.php/content/traditional-thai-massage-inscribed-intangible-cultural-heritage-humanity #UNESCO #massage #wellness #culturalheritage

OK. So this might seem a bit Meta. But my Top Wellness Tip For The Festive Season... is to create YOUR Top Wellness Tips For The Festive Season! Get it? The point is, other people are coming out with their Top Wellness Tips. So, the conversation is taking place. Don't you owe it to your customers, clients, guests, fans to be part of that conversation. They are expecting it of you. Your voice, your opinion matters to them. So go on. Join in the conversation. #top10 #wellnesstips #wellnesstrends #jointheconversation

2019 has been a busy year in terms of Mergers & Acquisitions within the Spa & Wellness sector. In what will almost certainly be the last of 2019, Spa & Wellness Management & Consulting firm WTS International has sold a majority steak in their business to CI Capital Partners. Here's the Press Release... https://cicapllc.com/https-cicapllc-com-wp-content-uploads-2019-10-2019-10-wts-platform-company-acquistion-press-release-pdf/ The terms of the deal were not disclosed.  Former Miraval CEO Steve Rudnitsky has been appointed at Vice Chairman of the Board. It will indeed be interesting to see what happens with WTS moving forward. #wellness #mergersandacquisitions #spaindustry #spa

Capture Rate is one of the most common KPI's to track in a Hotel Spa. But beware.  Remember that old adage, 'You Manage What You Measure' ? Well, if you're not careful, you could find your Spa team putting so much focus on the Capture Rate, or any other one metric for that matter, that they lose sight of the bigger picture. Capture Rate is simply a measure of relevance. Nothing more. Nothing less. Here's a few more Spa KPI's... https://www.trentmunday.com/top-15-spa-kpis-the-metrics-that-matter/   #hotelspa #spametrics #KPI #businessmetrics