The 19 Lessons That Will Make You an Expert in the “Business of Golf” Click here
Here is how you will benefit from an investment in “The Business of Golf – What Are You Thinking? 2016 Edition” published on August 16, 2016. Over 200 charts with the latest industry trends and a seven step formula that will create value for golfers on a foundation that enhances your financial performance.
Lesson 1 – Why? How? What?
Discover how to create a strategic vision for your golf course and craft a winning brand message that will build an emotional attachment for your customer. A Seven-Step Formula is presented and 21 Exercises are available.
Lesson 2 – What Business Are You In?
Learn what business you are really in (it is not golf) and what your customers are seeking when they visit your course.
Lesson 3 – The Macroeconomics of the Golf Business
There are key insights available from contrasting US vs. International courses. Caught in the death spiral? New positive trends cited pointing the path to escape.
Lesson 4 – The Players: Associations and Equipment Manufacturers
Association and Equipment Manufacturers create a cacophony of chaos. Who do they represent and how can you benefit from the noise they invent? Who are the real players and what initiatives are making a difference that you should be adopting to your economic advantage.
Lesson 5 – Ownership and Governance – A Privilege or Burden
Who has the economic advantage in the competitive landscape – municipal, daily fee, private clubs or resorts? The answer may surprise you as opportunities are wasted to dominate wasted by one sector. Ascertain if management companies add value?
Lesson 6 – Controlling the Uncontrollable: Location and Weather
Everyone says the supply of golf courses exceeds supply? Really? Learn what Starbucks and golf courses have in common. Discover the key benchmarks that measure the economic potential of your facility. We have ranked ordered every golf course in the US. Where does your course stand and what is it profit potential? It is about location, location, location isn’t it? Also, realize that long-term weather forecasting, used by many of Fortune 100 companies, can be your ally.
Lesson 7 – Strategic Planning – The Conclusion of Why
Measure if you have developed a compelling emotional experience at your golf course and the chasm you may have inadvertently twisted between hope and reality.
Lesson 8 – Technology – The Foundation
Have you implemented the correct data flow and are you buying the right technology to build and leverage your customer database? Are those who offer the barter for their software, pariahs of the industry. Understand how to flip the tables to ensure you are not fooled.
Lesson 9 – Modeling: The Path to Financial Success is Found in the Numbers
What are the key numbers you should be tracking? There is only a few that matter. Annual passes, if not properly priced, are a burden. There is a formula that will help formulate the right number. Understand how meaningful cash flow forecasts can be generated in 15 by grasping the important levers that drive profitability.
Lesson 10 – Benchmarking: The Key Financial Metrics
Benchmarking is fundamental to guide your course to heightened performance. There are several International services that provide clear standards that you should strive to achieve. If you know only two numbers, you can determine the gross revenue of any golf course. Hear the end game to profit.
Lesson 11 – Yield Management: Squeezing Profits from Empty Spaces
Find out that there is a precise formula on which your greens fees should be set. Clue – it not what the competition is charging. The golf industry model for tee times is flawed. Ascertain a more lucractive way to have your sheet filled. Construct a winning hand with heat maps to show you the trail most can’t find.
Lesson 12 – Golf Course Valuation
Do you make money when you buy or sell? The answer may be a surprise. The hi·ero·glyph·ics of a deal are explained and the process explored to maximize the net residual for this is an art to the deal that can not be trumped as it is not what you gross but not that counts.
Lesson 13 – The Playing Field
What you think is living is actual dying. Cash flow during the past decade is rarely sufficient to provide without external sustenance. Are you savings what is required? Uncover the magic combination of potents stimulates, constrains and kills various works of art. Discern what is right for you to preserve and protect your work of art that is unique and like no other golf course in the world perhaps ascertaining does the best matter to most.
Lesson 14 – Social Media: The Spider and the Fly
If you build it, they may not come unless you implement these proven tactics. When, how and should be it be out bound or in bound focused – it can all be so confusing. Not any more as they key are presented to unlock your marketing efforts.
Lesson 15 – Game Time
Is it game time? Is your team going to show up focused or get run over on the “assembly line of golf.” Twenty seven examples of superlative best management practices are presented that you can easily emulate.
Lesson 16 – Who Are Your Customers
How are you doing? Unsure? Explore how to conduct surveys that provide meaningful insights. Nationally numbers while of passing interest are irrevelant to measuring golfers in your competitive market knowing where else they are playing and how much they are spending on golf. Comprehend what is comes down to leveraging market dynamics to your advantage.
Lesson 17 – Creating Customer Loyalty
What are the twelve components to ensure you create a sustainable brand? What is the impact of social media on golf courses today? When should you a customer? The answers can be quickly learned and applied to increase customer loyalty.
Lesson 18 – The Industry – What Does the Future Hold?
There are two forks in the road? Which one to take? There are less than 250,000 golfers that will be alive in 50 years. What are you going to do to attract and retain new golfers. Initiatives abound – which ones are right for you for it is out with old and in the new. Women are off course and your Papa’s country club is changing. Are you ready?
Lesson 19 – The Courage to Change
Do you have the courage to change or are you part of the apathetic, unknowing and unwilling who work in the golf industry? The read option will provide you the winning play in a game that will test your knowledge, exhume the ghosts and create a spirit that will boost your team.
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