Presentation on theme: "Creating Synergistic Relationships between Ownership, Management and the Tennis Teaching Professional Presented By: Tim Bainton M.A.; M.B.A. Executive."— Presentation transcript:
Creating Synergistic Relationships between Ownership, Management and the Tennis Teaching Professional Presented By: Tim Bainton M.A.; M.B.A. Executive Director and Founder
The Business of Tennis Any good tennis player is able to adjust their strategy and think creatively to win the match… the same is true in the ‘game’ of business – if we apply those skills that we learned playing competitive tennis to our business, then the player, the pro and the owner will all win!
Objective Instruct Provoke Thought Provide Useful Tips Encouraging value and allowing you to thrive Create open dialogue and discussion
Synergy Definition of Synergy The interaction of multiple elements in a system to produce an effect different from or greater than the sum of their individual effects.
Roles & Expectations - TTP Express passion Network Grow club & facility business Build Personal Brand Seek added responsibility Pursue Continuing Ed Think Outside the Box Uphold high standards / professionalism Seek direction from company or another Motivation to improve position Educate oneself and those around us
Roles & Expectations Management Budget accountability, o Balance realistic vs. unrealistic Return on Investment Know/analyze when to cut dead weight Advocate for TTP with Owners & vice-versa Facility Maintenance & Management Communication | Find opportunities & challenges High level vision and oversight
Roles & Expectations Ownership Business Growth Provide Management / TTP with tools Capital Investments Communication | Find opportunities & challenges High level vision and oversight
"Growth is never by mere chance; it is the result of forces working together." -James Cash Penney; founder of JC Penney
Keys to Creating Synergy How to Become Allies: TTP with Owner/ Manager o Communication: contribute ideas/feedback to help the club improve their bottom line o Build YOUR brand Create value for the club and programs Do things you can promote and people can talk about o Be accountable : don’t ask for a raise until you can prove your value (BRSC Example.)
Keys to Creating Synergy How to Become Allies: Owner/ Manager w/ TTP o Create a Path to Success: provide opportunities for advancement o Reinvest profits into education o Provide tools: help them look professional and sell more - build the brand o Communication: ask them how you can help them o Accountability: hold them accountable to goals
Accountability: Importance of Implementing Goal Setting TTP must set goals – Strive for career advancement o Financial and personal o Accountability to goals o Measurable goals o Be careful of playing the ‘victim’ Owners/Mgrs: must help set goals o Educate your staff – spreadsheets, net vs. gross revenue, overhead o Explain the why – goals tied to business growth & profit
Encouraging & Rewarding Entrepreneurship Management should reward the pro by… o Recognition o Financial incentives o Promotion within company Role of Ownership (Management) o Recognize initiative & entrepreneurship from pro o “Behavior” should be encouraged Entrepreneurship in Tennis Industry o Simple = Creating a new class (CHRIS FIT2HIT) o Mid-Level = Purchase of video analysis software o Difficult = Raising money to purchase a facility
Titles, Promotions & Raises “What’s in a title?” o Sense of worth, purpose and direction (BREAKDOWN TYPICAL HIERARCHY TENNIS DIRECTOR HEAD PRO ASST PRO) New / exciting title offer selling points o Modernization of title o Reflect strengths, avoid weaknesses o Finding and discovering niche (DIRECTOR OF ADULT PROGRAMMING AND PATRICK CLIMING FOOD CHAIN)
Ambition Longevity Personal / Financial Success
A Word About Building YOUR Brand & Increasing Revenue The Five Levers 1. Be Likable 2. Connect 3. Solve Problems 4. Build Trust 5. Create Positive Emotional Experiences
Importance of Incentivizing Incentives begin with ownership o Ownership incentivizes Management o Management incentivizes teaching pro o Frayed communication / relationships Cowboy / Renegade TTP must ask questions o Ways to be incentivized Communication, respect and accountability between the 3 entities = SUCCESS
Always Be “Tinkering” Teaching style, program, business model o Always tinker o No one knows everything o Business world constantly changes Examples o Session duration o Class names o Price point o Changing vendors (popularity vs. loyalty)
How Can You Avoid Pitfalls? Be Proactive Admit Your Mistakes Ask For Help Build Partnerships o Schools, Industry Organizations, Charitable Organizations, and Community Programs Be Aware of Industry Trends Build the Brand: 1 Brand, 1 Team, Unlimited Potential
TOP 10 TIPS TOP 10 TIPS 10. Create Value : for owners, management and self 9. Be an Ally : How can you help? 8. Build Brand: Both the Club and Your Personal Brand 7. Be Profit Focused: mindful of overhead 6. Programming: Tennis Xpress, Fit2Hit, Rapid Fire, HP 5. Innovate: new ideas create excitement 4. Cultivate a Team Culture : Everybody Wins! 3. PR: If nobody knows how great you are, are you? 2. Strive for Excellence: (what you believe-you can achieve) 1. COMMUNICATE: It all starts HERE!