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Business Buyer Diaries: the Reality Before, During, and After
<p>Welcome to the Business Buyer Diaries. My name is Nathan Platter, I’m a full-time employee, and I bought a business! I did everything right from finding the deal, handling due diligence on 63 different opportunities, and ultimately buying a profitable gym, and boy was I in for a surprise as a new owner! I chronicle everything in real time, including the biggest wins to the stressful nights at 2am. I’m sharing my journey without sugarcoating anything, so you don’t repeat the same mistakes I do.</p>
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<p>SanterMedia, my goto Gym Marketing Agency <br>
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Business Buyer Diaries: the Reality Before, During, and After
341. It’s always worth asking, “why do we have that process in place? “
But the excitement doesn’t stop there! We tackle the necessity of questioning traditional methods in handling sensitive information, emphasizing the shift from paper to secure digital storage. This episode also uncovers the trials of securing a venue for our celebration party, showcasing the importance of proactive communication and clear solutions. Ready to rethink and revamp the way you approach business decisions? Join us as we break down old habits and build more secure, efficient systems for the future.
Good morning.
Speaker 1:Good morning. Well, today was Superhero Day. So, since we do 10-week challenges around, like week 5, week 6, we always do a Superhero Day and we celebrate the hard work members are doing, the time they're putting in. They're halfway through the challenge, they're focusing on their nutrition plans, they're really getting engaged, they're super and they're going above and beyond and they're incredible inspirations to their family, and so we celebrate with superhero day. So it was a good turnout. I had a Spider-Man mask, I had my cape, one person did a full-on Deadpool outfit, so that was kind of fun to see. A few people went all in. A lot of folks just wanted their Friday fun workout, but it's exciting to see that enthusiasm.
Speaker 1:One thing I'm learning today is just asking the question is this the way we should keep doing this? And to really question how things run. And so, historically, for years and years, we've stored paper files that has sensitive information on it, and so that's fine. You need to treat it a certain way, like keyed access, lock access. You got to have certain compliance steps if you're going to do such things, and that's okay. However, looking into the file and seeing like years and years of paper info, sensitive documents, like there's technology and there are new ways to store that same information. It takes maybe 20 seconds per person to store their info securely, remotely compliantly, and to not have that info on hand. So there there are crazy stories of former employees, former whatever, where people have gone in stolen information, mishandled it, misused it, committed fraud, committed chargebacks like, jeopardize the business, and that is a thing that happens, it's rare, it's uncommon.
Speaker 1:But as an owner, you can say, well, why are we doing it this way? And if the answer is, well, that's how we did it last time, or that we've always done it that way, I'm like well, I don't know, those are all bad answers. There has to be a solid, positive pro reason. Like well, this is the most secure way to do it. Well, this is the, this is a method that only the owner has access to and it's impossible to breach. Okay, uh, this is the most up-to-date way to do it. This follows our brand agreements with the we are obligated to follow. Okay, those are all like positive pro reasons. They're not any con reasons. And so if it's like a well, I don't know, historically we've done it this way, that's the best we have, you got to have a positive reason for it. And so, like today, when I can say, well, look at this. And then there's this and this and this and this. Is this the best solution, both from a customer servicing side as well as a business protection side? If the answer is, well, no, like this is a pretty bad idea. Okay, well, let's do it a little bit better, start a new process with the manager figuring out how can we be smarter with sensitive information and increase our compliance, reduce our risk and ultimately have a better, a better system for our customers and our staff protection side of things. So is it worth keep doing what we're currently doing and you don't have a heck yes or a well, I don't know. Let's revisit that Kind of solution.
Speaker 1:One final thing we haven't heard back from our venue Like, yes, we for sure are locked down for our 10 week party. My read on it is their manager has not been very responsive. We've paid a down payment, but technically they want us to do a down payment, buying a credit card. So that doesn't really make sense and we just need confirmation that, yes, the venue is ours, the down payment is there, because it just smells like they're not going to give it to us. And so ask the manager like, once you're done at the studio with time permitting, go in, sit in the restaurant. Don't leave until we have written down or confirmed someone from somewhere that we have that venue reserved. Like, we need that on hand because I don't want to have to go somewhere else because we can't find something last minute. That's not going to work, and so that's what I've got right now. Sometimes being in person is the way to get stuff done, and that's what we're going to do today. That's where we're at, that's where we're going. Let's rock and roll.