It’s been an amazing year for Parmasters Waterloo Region. We formed the company and purchased the franchise. We tied the next ten years of our lives to the good ship Parmasters. And happily so. I believe 2006 will be remembered as a very important year.
And with the end of 2006, springs the beginning of 2007. We will sign a lease and begin construction. Membership marketing and sales will follow. As will lots of training, interviewing and hiring. And then we’ll be into the whirlwind of opening and our early days in operation.
And hopefully, before we end 2007, profitability. Yes, a lofty goal. You heard it here first. It’s entirely possible. Certainly difficult, but also quite possible. We’ll have our answer in just over 365 days.
Two more days of RnR, and then it’s back to work. I’ve been catching up on my journals, and doing a quite a bit of strategic thinking. I’ve also been playing with my boys, watching some movies with my wife, and generally putting my feet up. I’m just now starting to unwind, and actually feel relaxed. It’s taken six days!
I’ll close with words that inspire me, and hopefully you.
Excellence is the result of caring more than others think is wise; risking more than others think is safe; dreaming more than others think is practical and expecting more than others think is possible. -unknown
All the very best in 2007 and beyond!
Saturday, December 30, 2006
Saturday, December 23, 2006
Merry Christmas and Happy New Year!
My blogging will undoubtedly slow down as we lead up to Christmas and New Years Day. It’s a time of celebration, family and friendship.
In fact, I am currently planning to take next week off. No work. I haven’t decided if that includes blogging or not.
Saturday was busy. Just one meeting, but I’m also trying to get several things done, in preparation for January and beyond. We’re preparing offers to lease on two buildings, and considering a third. Once lease offers are in place, I will have much more activity on a weekly basis.
Sunday will be a final push to put everything in place before January. After that, I’ll take a week off. Time to sharpen the saw, as Stephen Covey says.
For all Christians, I wish you a Very Merry Christmas and a Happy and Fruitful New Year. For all of you of other faiths, may you enjoy any holidays you take, and also of course have a very Happy and Fruitful New Year.
In fact, I am currently planning to take next week off. No work. I haven’t decided if that includes blogging or not.
Saturday was busy. Just one meeting, but I’m also trying to get several things done, in preparation for January and beyond. We’re preparing offers to lease on two buildings, and considering a third. Once lease offers are in place, I will have much more activity on a weekly basis.
Sunday will be a final push to put everything in place before January. After that, I’ll take a week off. Time to sharpen the saw, as Stephen Covey says.
For all Christians, I wish you a Very Merry Christmas and a Happy and Fruitful New Year. For all of you of other faiths, may you enjoy any holidays you take, and also of course have a very Happy and Fruitful New Year.
Friday, December 22, 2006
Hank Haney Visits Parmasters Memphis
Hank Haney was selected by the number one golfer in the world as his coach. Tiger Woods, as he shatters professional golf records and benchmarks, takes instruction from Hank Haney.
So, it was with great excitement, that the owners of Parmasters Memphis welcomed coach Haney into their state-of-the-art golf training center.
And how did coach Haney react?
He loved the facility. I can’t quote him because I wasn’t there. Also, we likely need his permission to publish his comments, or rather, his endorsement. And it was just that, an endorsement.
However, I was told that his comment regarding our fluency bays was something like “these bays are one of the most innovative and effective golf training tools I’ve ever seen.” (I will continue to seek the actual quote, and if I receive it, I’ll post it. But that, as I understand it, is pretty close.)
Our fluency bays include an automated tee. The golfer hits into a net. The bays are private, sheltered by frosted glass. A ball is teed up, automatically, every 1.5 seconds. This allows the golfer to simply swing, repeatedly, developing a rhythm, a movement, and a timing that works best.
We can't guarantee that we'll turn you into the next world's number one. But we can guarantee a 25% reduction in your handicap, or your money back. And our fluency bays help us achieve that 25%.
So, it was with great excitement, that the owners of Parmasters Memphis welcomed coach Haney into their state-of-the-art golf training center.
And how did coach Haney react?
He loved the facility. I can’t quote him because I wasn’t there. Also, we likely need his permission to publish his comments, or rather, his endorsement. And it was just that, an endorsement.
However, I was told that his comment regarding our fluency bays was something like “these bays are one of the most innovative and effective golf training tools I’ve ever seen.” (I will continue to seek the actual quote, and if I receive it, I’ll post it. But that, as I understand it, is pretty close.)
Our fluency bays include an automated tee. The golfer hits into a net. The bays are private, sheltered by frosted glass. A ball is teed up, automatically, every 1.5 seconds. This allows the golfer to simply swing, repeatedly, developing a rhythm, a movement, and a timing that works best.
We can't guarantee that we'll turn you into the next world's number one. But we can guarantee a 25% reduction in your handicap, or your money back. And our fluency bays help us achieve that 25%.
Thursday, December 21, 2006
Our Cause - Right To Play
As some of you may know, Parmasters Golf Training Centers, and all franchise owners, support Right To Play (WARNING: Don't visit the Right To Play website if you don't enjoy the sound of children playing and laughing.). One dollar from each paid golf lesson goes to Right To Play. In addition, our centers will run other fundraisers. Parmasters Memphis did so earlier this year.
Here’s a year-end update from Right To Play. They do exceptional work. I’m sure they won’t mind my plagiarism.
As the year draws to a close, I am pleased to take this opportunity to update you on the successes of Right To Play in 2006, and give you a glimpse into what we have planned for 2007.
The year got off to a great start at the Torino Olympic Games. The generosity of speed skaters Joey Cheek, Clara Hughes and Yang Yang A., after their gold medal wins, spurred an incredible boost in awareness and fundraising for Right To Play. That momentum stayed with us throughout the entire year.
We were excited to begin several new projects this year: working with Palestinian refugees in Lebanon and Jordan; returned refugees and internally displaced persons in Liberia; and working in Tsunami affected communities in Thailand and Indonesia. We also laid the ground work to begin in Sri Lanka. This brought our total to 46 projects implemented in 22 countries in 2006. In 2007, we look forward to starting a project in The People’s Republic of China and seven new projects in current project countries.
I'd like to take this chance to highlight the incredible work at our new project in Lebanon. This project was begun in March 2006, and by the time war broke out in July, the local Project Coordinators had been hired and trained, the offices were set up and 140 coaches from 50 local NGOs were trained to run Right To Play activities in summer camps. Although the war meant the cancellation of summer camps, Right To Play staff refused to stand idly by. Right To Play Lebanon coordinated relief work, carried out sport and play activities for approximately 5500 Palestinian and Lebanese children displaced by the war and even conducted training workshops for 32 new coaches. As a result of this work, Right To Play, a relatively new organization in Lebanon, has been recognized as a non-political, non-partisan organization that helps children on all sides of a conflict and has gained the respect not only of the local community but also of other NGOs.
There are a few other stories this year that also stand out in my mind: I was particularly struck by the story of eighteen year old Right To Play coach Justin Cuna in Mozambique. Justin grew up on the outskirts of Maputo, Mozambique, in a community that makes its living off the city’s main garbage dump. Like the other children, Justin used to spend his days playing in the garbage dump, looking for toys or food. Now, Justin is a Right To Play coach running sport and play activities twice a week for children in his own community. Justin says “Now the kids don’t wake up in the morning to go play in the dump, they wake up to play football with Right To Play”.
Another story that remains in my mind is the story of the 10-year-old Afghan girl named Samiva whose face was disfigured when the Taliban set fire to her family's home forcing them to flee to Pakistan. In Pakistan her family would not permit her to attend school as they were afraid the other children would make fun of her. Local Right To Play Assistant Coach Tamina knew that a key principle of Right To Play is the inclusion of girls and children with disabilities and so determined to do everything in her power to help the girl. Through her persistent encouragement, the parents agreed to allow their daughter to attend school and participate in Right To Play programs. At first she was very shy and frightened but, through the power of sport and play, she has gradually become more and more active and gained great confidence. Thousands more girls are benefiting from the renewed hope that Right To Play programs bring, in partnership with Pakistan’s Insan Foundation.
These children and youth are the reason that we continually work to improve our organization. One of our key initiatives in 2006 has been the continuation of a strategic decentralization process. In 2005, we made the decision to decentralize, shifting field operations responsibilities from Headquarters to Regional and Country Offices. We made this decision in order to best support program excellence, enhance sustainability and more effectively manage program growth by moving decision making closer to the projects. We now have four Regional offices with Regional Managers in place and eight strong local Country Managers. In 2007, we will continue this process by hiring more local leads including nine more Country Managers and nine Program Managers.
In 2006 we also embarked on a process to review and improve all of our Program material, including all curriculum, modules and training. This process was infused with a great deal of momentum after hiring our new Director of Program this fall. Other important areas of focus this year have been the continued improvement of our logistical systems and our first step towards moving from short term project funding proposals towards multi year program proposals using Results Based Management.
I’d like to thank all of our supporters, partners, staff, volunteers and friends for helping to make 2006 a great year for Right To Play. All of this could not be done without you and your support! We are now looking forward to 2007 with great anticipation as we expect to see the positive results of our hard work this year through the increased quality of our programs and our ability to reach even more children.
If you have not already contributed to Right To Play in 2006, and would like to do so, it is not too late. Just log onto our special holiday campaign on the Right To Play website.
Wishing you a safe and happy holiday season,
Johann O. Koss
President and CEO
Right To Play
Here’s a year-end update from Right To Play. They do exceptional work. I’m sure they won’t mind my plagiarism.
As the year draws to a close, I am pleased to take this opportunity to update you on the successes of Right To Play in 2006, and give you a glimpse into what we have planned for 2007.
The year got off to a great start at the Torino Olympic Games. The generosity of speed skaters Joey Cheek, Clara Hughes and Yang Yang A., after their gold medal wins, spurred an incredible boost in awareness and fundraising for Right To Play. That momentum stayed with us throughout the entire year.
We were excited to begin several new projects this year: working with Palestinian refugees in Lebanon and Jordan; returned refugees and internally displaced persons in Liberia; and working in Tsunami affected communities in Thailand and Indonesia. We also laid the ground work to begin in Sri Lanka. This brought our total to 46 projects implemented in 22 countries in 2006. In 2007, we look forward to starting a project in The People’s Republic of China and seven new projects in current project countries.
I'd like to take this chance to highlight the incredible work at our new project in Lebanon. This project was begun in March 2006, and by the time war broke out in July, the local Project Coordinators had been hired and trained, the offices were set up and 140 coaches from 50 local NGOs were trained to run Right To Play activities in summer camps. Although the war meant the cancellation of summer camps, Right To Play staff refused to stand idly by. Right To Play Lebanon coordinated relief work, carried out sport and play activities for approximately 5500 Palestinian and Lebanese children displaced by the war and even conducted training workshops for 32 new coaches. As a result of this work, Right To Play, a relatively new organization in Lebanon, has been recognized as a non-political, non-partisan organization that helps children on all sides of a conflict and has gained the respect not only of the local community but also of other NGOs.
There are a few other stories this year that also stand out in my mind: I was particularly struck by the story of eighteen year old Right To Play coach Justin Cuna in Mozambique. Justin grew up on the outskirts of Maputo, Mozambique, in a community that makes its living off the city’s main garbage dump. Like the other children, Justin used to spend his days playing in the garbage dump, looking for toys or food. Now, Justin is a Right To Play coach running sport and play activities twice a week for children in his own community. Justin says “Now the kids don’t wake up in the morning to go play in the dump, they wake up to play football with Right To Play”.
Another story that remains in my mind is the story of the 10-year-old Afghan girl named Samiva whose face was disfigured when the Taliban set fire to her family's home forcing them to flee to Pakistan. In Pakistan her family would not permit her to attend school as they were afraid the other children would make fun of her. Local Right To Play Assistant Coach Tamina knew that a key principle of Right To Play is the inclusion of girls and children with disabilities and so determined to do everything in her power to help the girl. Through her persistent encouragement, the parents agreed to allow their daughter to attend school and participate in Right To Play programs. At first she was very shy and frightened but, through the power of sport and play, she has gradually become more and more active and gained great confidence. Thousands more girls are benefiting from the renewed hope that Right To Play programs bring, in partnership with Pakistan’s Insan Foundation.
These children and youth are the reason that we continually work to improve our organization. One of our key initiatives in 2006 has been the continuation of a strategic decentralization process. In 2005, we made the decision to decentralize, shifting field operations responsibilities from Headquarters to Regional and Country Offices. We made this decision in order to best support program excellence, enhance sustainability and more effectively manage program growth by moving decision making closer to the projects. We now have four Regional offices with Regional Managers in place and eight strong local Country Managers. In 2007, we will continue this process by hiring more local leads including nine more Country Managers and nine Program Managers.
In 2006 we also embarked on a process to review and improve all of our Program material, including all curriculum, modules and training. This process was infused with a great deal of momentum after hiring our new Director of Program this fall. Other important areas of focus this year have been the continued improvement of our logistical systems and our first step towards moving from short term project funding proposals towards multi year program proposals using Results Based Management.
I’d like to thank all of our supporters, partners, staff, volunteers and friends for helping to make 2006 a great year for Right To Play. All of this could not be done without you and your support! We are now looking forward to 2007 with great anticipation as we expect to see the positive results of our hard work this year through the increased quality of our programs and our ability to reach even more children.
If you have not already contributed to Right To Play in 2006, and would like to do so, it is not too late. Just log onto our special holiday campaign on the Right To Play website.
Wishing you a safe and happy holiday season,
Johann O. Koss
President and CEO
Right To Play
Wednesday, December 20, 2006
The Things You Look At Change
“When you change the way you look at things, the things you look at change.” -Max Planck, Nobel Prize-winning physicist
Ponder that.
No really, I urge you to stop reading and simply ponder the quote above. There are few words that I would consider more powerful.
Now, assuming you’ve pondered, and you GET IT, and you’re now reading on … I’ll continue …
I heard this relayed by Dr. Wayne Dyer during a lecture I viewed via PBS. As Dr. Dyer relayed the story, Max Planck was referring to some of the smallest known (perhaps THE smallest known, I’m no quantum physicist, at least not yet) elements (perhaps the wrong word) of matter. If you drill down from cells to molecules, to atoms, to protons, neutrons and electrons, and then eventually to quarks, and as you study matter at the sub-atomic level … yes, apparently, when you change the way you look at things, the things you look at change.
The implications for every man, woman and child are astronomical. The implications for every business, for every community group, for every government, are astronomical.
I spoke, the other night, to my boys about asking powerful questions. I believe I may have blogged recently about this. If you ask a group to improve a process by 10%, they will come back with ideas to improve by 10%. If you ask the same group to improve by 90%, they will come back with ideas to improve by 90%. Powerful questions. Change the way you look at things.
On the Parmasters Waterloo Region front …
While we’re slowing down for the Christmas season, there are a lot of great things happening. We are preparing offers to lease for two separate buildings. We’re also strongly considering a third. And we may yet end up simply buying a building.
We’ve also had many recent successes related to financing.
I’ve started thinking about future sites also. London. Windsor. Elsewhere. The plan has always been to build a new site every 1.5 to 2 years. We’re starting to analyze a faster, more aggressive schedule.
Ponder that.
No really, I urge you to stop reading and simply ponder the quote above. There are few words that I would consider more powerful.
Now, assuming you’ve pondered, and you GET IT, and you’re now reading on … I’ll continue …
I heard this relayed by Dr. Wayne Dyer during a lecture I viewed via PBS. As Dr. Dyer relayed the story, Max Planck was referring to some of the smallest known (perhaps THE smallest known, I’m no quantum physicist, at least not yet) elements (perhaps the wrong word) of matter. If you drill down from cells to molecules, to atoms, to protons, neutrons and electrons, and then eventually to quarks, and as you study matter at the sub-atomic level … yes, apparently, when you change the way you look at things, the things you look at change.
The implications for every man, woman and child are astronomical. The implications for every business, for every community group, for every government, are astronomical.
I spoke, the other night, to my boys about asking powerful questions. I believe I may have blogged recently about this. If you ask a group to improve a process by 10%, they will come back with ideas to improve by 10%. If you ask the same group to improve by 90%, they will come back with ideas to improve by 90%. Powerful questions. Change the way you look at things.
On the Parmasters Waterloo Region front …
While we’re slowing down for the Christmas season, there are a lot of great things happening. We are preparing offers to lease for two separate buildings. We’re also strongly considering a third. And we may yet end up simply buying a building.
We’ve also had many recent successes related to financing.
I’ve started thinking about future sites also. London. Windsor. Elsewhere. The plan has always been to build a new site every 1.5 to 2 years. We’re starting to analyze a faster, more aggressive schedule.
Monday, December 18, 2006
What Did You Do This Past Weekend?
Our local newspaper, the KW Record, has been running a series of ads lately that focus on “what did you do this past weekend?” The idea is, the paper keeps you informed and helps you do more. More life. (Actually, “more life” is a phrase oft used within Parmasters. That’s meant to be one of the many benefits to franchise owners. More life. But that’s another story …)
Anyway, “what did you do this past weekend?” I:
- purchased Christmas gifts for children that may not otherwise receive any and delivered them to a local charity
- cleaned up large stack of office paper work
- met with my regional franchisor (he handles Canada for Parmasters) regarding our search for a suitable location for Parmasters Waterloo Region
- watched my older son block lots of shots and help his team win their hockey game
- did some Christmas shopping for both of our sons
- had a nice meal with my loving wife at Marbles, a downtown Waterloo eatery
- watched the Toronto Maple Leafs dismantle the Rangers
- attended our church service
- talked to my parents
- read a few of my periodicals
- balanced the books for the Special Gifts Fund within our church (planned giving, life insurance, bequests, etc.)
- updated my profile at the Business and Education Partnership of Waterloo Region (BEP)
- received a speaking request as part of the speaker’s bureau at the BEP
- watched my son’s Sunday afternoon hockey practice
- reviewed my contact list for potential investors to an Ottawa-based software company and future success story
- booked a few meetings with potential/future investors
- and last but never least, played with my young boys
And today, we received some FANTASTIC news out of Parmasters Halifax. Matt Jeffrey and his team (of one other individual) are doing a great job, and along the way, proving the Parmasters concept truly resonates with current and future golfers. Matt (or Parmasters Halifax) now has over 500 members! He reached that lofty plateau this afternoon. He’s not even open yet. That’s not scheduled to happen until March 2007!
Anyway, “what did you do this past weekend?” I:
- purchased Christmas gifts for children that may not otherwise receive any and delivered them to a local charity
- cleaned up large stack of office paper work
- met with my regional franchisor (he handles Canada for Parmasters) regarding our search for a suitable location for Parmasters Waterloo Region
- watched my older son block lots of shots and help his team win their hockey game
- did some Christmas shopping for both of our sons
- had a nice meal with my loving wife at Marbles, a downtown Waterloo eatery
- watched the Toronto Maple Leafs dismantle the Rangers
- attended our church service
- talked to my parents
- read a few of my periodicals
- balanced the books for the Special Gifts Fund within our church (planned giving, life insurance, bequests, etc.)
- updated my profile at the Business and Education Partnership of Waterloo Region (BEP)
- received a speaking request as part of the speaker’s bureau at the BEP
- watched my son’s Sunday afternoon hockey practice
- reviewed my contact list for potential investors to an Ottawa-based software company and future success story
- booked a few meetings with potential/future investors
- and last but never least, played with my young boys
And today, we received some FANTASTIC news out of Parmasters Halifax. Matt Jeffrey and his team (of one other individual) are doing a great job, and along the way, proving the Parmasters concept truly resonates with current and future golfers. Matt (or Parmasters Halifax) now has over 500 members! He reached that lofty plateau this afternoon. He’s not even open yet. That’s not scheduled to happen until March 2007!
Friday, December 15, 2006
Much To Learn
We’ve hosted two investor conference calls over the past two days (yesterday and today). The President, CEO and Co-founder of Parmasters Golf Training Centers, Tom Matzen, presented during both calls. The attendees are all considering an investment in our franchise, so I asked Tom to spend some time with them.
On Thursday we went through a presentation. Today it was simply Q&A.
While listening to Tom speak, I was continuously reminded of just how much I have yet to learn about this business. It’s a bit like an iceberg. I understand on all that is on/above the surface. But that is only, obviously, a small part of the story.
I will go through extensive training once we have a site secured. (And we’re working night and day to find a site.) I will become familiar with the operations manual, all 6,000+ pages, and growing. I will be certified to teach Straight-Line Golf™. The ops manual offers a detailed procedure for virtually every aspect of the business. I have much learning to do.
So, would I like to have all of this knowledge today? Yes, of course. Is that or was that possible? No, absolutely not.
It’s like all things in life. Acknowledge the current situation. Don’t fool yourself. Don’t deny where you are today, or deny the current situation. Acknowledge it. Then decide where you want to be and when you want to be there. And finally, build a plan to move from the current state to the desired future state.
And so, I must ask more questions. I must do more reading. I must spend more time with other franchisees, my regional franchisor, and others. I must do a little more to build my knowledge base a little faster than I am currently.
At the same time, I’m reminded of this quote:
Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish. -John Quincy Adams
On Thursday we went through a presentation. Today it was simply Q&A.
While listening to Tom speak, I was continuously reminded of just how much I have yet to learn about this business. It’s a bit like an iceberg. I understand on all that is on/above the surface. But that is only, obviously, a small part of the story.
I will go through extensive training once we have a site secured. (And we’re working night and day to find a site.) I will become familiar with the operations manual, all 6,000+ pages, and growing. I will be certified to teach Straight-Line Golf™. The ops manual offers a detailed procedure for virtually every aspect of the business. I have much learning to do.
So, would I like to have all of this knowledge today? Yes, of course. Is that or was that possible? No, absolutely not.
It’s like all things in life. Acknowledge the current situation. Don’t fool yourself. Don’t deny where you are today, or deny the current situation. Acknowledge it. Then decide where you want to be and when you want to be there. And finally, build a plan to move from the current state to the desired future state.
And so, I must ask more questions. I must do more reading. I must spend more time with other franchisees, my regional franchisor, and others. I must do a little more to build my knowledge base a little faster than I am currently.
At the same time, I’m reminded of this quote:
Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish. -John Quincy Adams
Thursday, December 14, 2006
Honing My Systems
As many of you know, I am a great believer in systems. They help with both efficiency and effectiveness. I’ve developed my existing systems over many years and they’ve served me well. But they also require a periodic tune-up. Now is such a time.
I’m simply struggling to handle the volume. And the volume is definitely going to increase, until it eventually decreases (when I’m able to hire more staff).
I’m not currently keeping up with my reading, both work related and for pleasure. While I’ve been quite diligent with my morning workouts and runs, I have not kept up with my stretching. There are several stretches that help one’s golf game. I would also like to speak with at least one other Parmasters franchise owner at least weekly, but have not kept pace. Lastly, there are many more things I should be doing with this blog, such as writing actual articles, doing more promotion, etc.
And of course, a little more free time, to re-charge my batteries, would be welcomed also.
All of this suggests I need to become more efficient. I look to improved systems to accomplish this.
I had a similar conversation today with the incoming chair of The Kitchener and Waterloo Community Foundation’s Marketing Committee. I serve on the committee. I feel our meetings are very effective and efficient, but also feel there are ways to make better use of committee members’ time. Continuous improvement.
I make heavy use of my MS Outlook Calendar, and my Blackberry, to maintain my schedule. I have a recurring monthly appointment to review and revise how and where I spend my time. I also block off time weekly to ensure I’m working on the right things.
My friend and mentor Jim Estill – and this post really reads like something Jim would post about – has noted the difference between management (doing things efficiently and effectively) and leadership (doing the right things). This is also something I must continually review.
Lastly, I’m quite cognizant of the wisdom of Jay Paterson’s writings on Focus, Free and Buffer Days. While at this point – as I launch our first site in Waterloo Region – my schedule is very heavy, would I be more efficient and effective if I took more Free Days, or dedicated more Focus Days?
Much to ponder …
I’m simply struggling to handle the volume. And the volume is definitely going to increase, until it eventually decreases (when I’m able to hire more staff).
I’m not currently keeping up with my reading, both work related and for pleasure. While I’ve been quite diligent with my morning workouts and runs, I have not kept up with my stretching. There are several stretches that help one’s golf game. I would also like to speak with at least one other Parmasters franchise owner at least weekly, but have not kept pace. Lastly, there are many more things I should be doing with this blog, such as writing actual articles, doing more promotion, etc.
And of course, a little more free time, to re-charge my batteries, would be welcomed also.
All of this suggests I need to become more efficient. I look to improved systems to accomplish this.
I had a similar conversation today with the incoming chair of The Kitchener and Waterloo Community Foundation’s Marketing Committee. I serve on the committee. I feel our meetings are very effective and efficient, but also feel there are ways to make better use of committee members’ time. Continuous improvement.
I make heavy use of my MS Outlook Calendar, and my Blackberry, to maintain my schedule. I have a recurring monthly appointment to review and revise how and where I spend my time. I also block off time weekly to ensure I’m working on the right things.
My friend and mentor Jim Estill – and this post really reads like something Jim would post about – has noted the difference between management (doing things efficiently and effectively) and leadership (doing the right things). This is also something I must continually review.
Lastly, I’m quite cognizant of the wisdom of Jay Paterson’s writings on Focus, Free and Buffer Days. While at this point – as I launch our first site in Waterloo Region – my schedule is very heavy, would I be more efficient and effective if I took more Free Days, or dedicated more Focus Days?
Much to ponder …
Wednesday, December 13, 2006
Fixed Costs Covered on Day 1
Our goal at Parmasters Waterloo Region is to have enough revenue on our first day of operation to cover our fixed costs. How do we do so? We sell memberships before we open.
As soon as we have our site selected, we start “pre-selling” memberships. Members that sign on prior to our opening day receive various benefits that will not be offered once we’re open. On the day we open, we start billing monthly membership fees.
There are many benefits to the new members. First, they get a bargain when they sign up early. This bargain has not been fully defined. Parmasters makes recommendations, but we have final say at the local level. Also, members that purchase ahead of time receive updates, and are fully prepared for and aware of the day we open.
Parmasters Halifax is using this model. They are now up to 460 members! And are they open yet? NO! They’ll open in March 2007! And they’ll open with their fixed costs covered!
We’ll be doing the same.
This is just another in a long list of reasons why the Parmasters franchising and franchise models are head and shoulders above all others.
As soon as we have our site selected, we start “pre-selling” memberships. Members that sign on prior to our opening day receive various benefits that will not be offered once we’re open. On the day we open, we start billing monthly membership fees.
There are many benefits to the new members. First, they get a bargain when they sign up early. This bargain has not been fully defined. Parmasters makes recommendations, but we have final say at the local level. Also, members that purchase ahead of time receive updates, and are fully prepared for and aware of the day we open.
Parmasters Halifax is using this model. They are now up to 460 members! And are they open yet? NO! They’ll open in March 2007! And they’ll open with their fixed costs covered!
We’ll be doing the same.
This is just another in a long list of reasons why the Parmasters franchising and franchise models are head and shoulders above all others.
Tuesday, December 12, 2006
Focus and Free Days Clarified by Jay Paterson
The good Mr. Jay Paterson of Empowered Wealth Canada tried to post the following comment, but fell prey to the vagaries of technology. My apologies Jay, and thank you for taking the time to fill us in.
Jay has taken the time to explain more clearly the concept of Focus Days and Free Days. I posted on this topic last week.
Jay’s comments:
Here's the Rest of the Story behind Free and Focus Days. The original concept goes to Dan Sullivan, The Strategic Coach. All of these days are defined for the benefit of entrepreneurs. The Most important days are Free Days. These are absolutely critical days that an entrepreneur needs to Re-charge the Batteries. No business is contemplated nor done. It’s a Free Day to do whatever gives the entrepreneur Great Joy!
A Focus Day is defined as the day in which an entrepreneur uses his or her Unique Ability to the best of his/her advantage and creates business opportunities. A Focus Day gives an entrepreneur Great Results.
A Buffer Day is the day in which the entrepreneur prepares for his/her Focus Days. Preparation gives Energy, which makes for better Focus Days and far better results.
For Example, a professional golfer practices his or her craft on Buffer Days. They stay completely away from the game on Free Days. And on Focus Days, they're supposed to bring their best up front. They had better not be thinking about all the other stuff that clutters up the mind. They better be clear headed about what they are doing and just do it.
Kevin had a question: How do you identify the Top 20% of your activities? I'll make it easier by asking one question. What is the ONE SINGLE THING you do, that you enjoy doing more than anything else, that you do better than anybody else because you do it naturally and you enjoy it, and that people would pay you great money for because you do it better than anyone else? Forget the top 20%, that's too much. No one can do a whole whack of things really well. FOCUS your energy on that ONE THING, do it really, really well, and the world will beat a path to your door.
I have only 120 FOCUS Days in one year. That is all the energy I have for Focus Days. I do All of my Unique Ability in those 120 days.
I have 40 Buffer Days, that's it!
The Rest are FREE DAYS. That's 205 days each year doing exactly what I LOVE to do.
Steve posed a question: How do you do the digging? Ask 40 of your closest friends, advisors and especially all of your children and grandchildren one very simple question, "What is the ONE THING I do best, that you value me for the most?" You'll get 30 to 40 honest answers and you will find the ONE THING to Focus on.
Oh, by the way, that's my partner in The Secret, Lee Brower.
Now I've got to get back to straightening out my putting stroke.
Jay Paterson
Jay has taken the time to explain more clearly the concept of Focus Days and Free Days. I posted on this topic last week.
Jay’s comments:
Here's the Rest of the Story behind Free and Focus Days. The original concept goes to Dan Sullivan, The Strategic Coach. All of these days are defined for the benefit of entrepreneurs. The Most important days are Free Days. These are absolutely critical days that an entrepreneur needs to Re-charge the Batteries. No business is contemplated nor done. It’s a Free Day to do whatever gives the entrepreneur Great Joy!
A Focus Day is defined as the day in which an entrepreneur uses his or her Unique Ability to the best of his/her advantage and creates business opportunities. A Focus Day gives an entrepreneur Great Results.
A Buffer Day is the day in which the entrepreneur prepares for his/her Focus Days. Preparation gives Energy, which makes for better Focus Days and far better results.
For Example, a professional golfer practices his or her craft on Buffer Days. They stay completely away from the game on Free Days. And on Focus Days, they're supposed to bring their best up front. They had better not be thinking about all the other stuff that clutters up the mind. They better be clear headed about what they are doing and just do it.
Kevin had a question: How do you identify the Top 20% of your activities? I'll make it easier by asking one question. What is the ONE SINGLE THING you do, that you enjoy doing more than anything else, that you do better than anybody else because you do it naturally and you enjoy it, and that people would pay you great money for because you do it better than anyone else? Forget the top 20%, that's too much. No one can do a whole whack of things really well. FOCUS your energy on that ONE THING, do it really, really well, and the world will beat a path to your door.
I have only 120 FOCUS Days in one year. That is all the energy I have for Focus Days. I do All of my Unique Ability in those 120 days.
I have 40 Buffer Days, that's it!
The Rest are FREE DAYS. That's 205 days each year doing exactly what I LOVE to do.
Steve posed a question: How do you do the digging? Ask 40 of your closest friends, advisors and especially all of your children and grandchildren one very simple question, "What is the ONE THING I do best, that you value me for the most?" You'll get 30 to 40 honest answers and you will find the ONE THING to Focus on.
Oh, by the way, that's my partner in The Secret, Lee Brower.
Now I've got to get back to straightening out my putting stroke.
Jay Paterson
Monday, December 11, 2006
Carpe Diem!
Long time, no blog. I feel a sting of guilt when I miss a couple of blog entries. I generally just blog once on a given weekend, but also usually on a Friday at some point. I feel I missed two entries.
Quite a bit has happened.
On Thursday of last week we toured six building/properties. Most were existing structures. Two were empty lots. Two were in the north end of Cambridge, and the rest were in central and east Kitchener.
Two of these sites seem to be exactly what we’re seeking. Another is very interesting, but a little above our budget, and it can be very challenging entering and exiting the parking lot.
A fourth site is in a mall location, and completely different than what we thought we were seeking. However, the opportunity remains quite intriguing. There would be a significant impact on the business if we went with this site. There are many pros, and several cons. The question is, will the overall impact be positive or negative.
I have debated naming the sites that we’re considering, but have thus far refrained. Instead, I refer to them in vague terms, as above. It won’t help our negotiating position with the landlords to have too much information in the public domain. Also, I have no doubt that some of our competitors are listening in to this blog. (Hi guys.)
In the days since Thursday, we’ve also had some good investor meetings and completed a lot of smaller tasks that were piling up. We have a major investor presentation this week which requires a fair bit of preparation.
Lastly, but certainly not least, we lost a pet over the weekend. In 1991, a year after we married, we went to the Humane Society and adopted two kittens. They weren’t brothers. Bo and Diddley spent many years with us. Bo developed cancer in the summer of 2000 and went very quickly. Diddley had been going downhill this past year. We were constantly searching for a food that his digestive system could handle. This past week he simply stopped eating. He passed away quietly Sunday around 5:00pm.
It’s interesting. I grew up in a rural setting and worked on many farms. I’ve seen cattle slaughtered, toured a turkey “processing” plant, and been involved in many other harsh realities of rural life. But nevertheless, the passing of Diddley has definitely left a void. He was with us for more than 15 years. It was also very difficult to watch our boys go through the experience. Diddley was the first close loved one that they’ve lost. In a way, I’m glad their first loss was their pet, rather than a human family member. We did what we could to guide them through the grieving process, while also letting them do their thing, and cope however was best for them.
So, even though it was feline that we lost, and not a human family member, we are reminded that our time on this Earth is very limited, and that we should make the most of every day. Carpe diem! Seize the day!
Quite a bit has happened.
On Thursday of last week we toured six building/properties. Most were existing structures. Two were empty lots. Two were in the north end of Cambridge, and the rest were in central and east Kitchener.
Two of these sites seem to be exactly what we’re seeking. Another is very interesting, but a little above our budget, and it can be very challenging entering and exiting the parking lot.
A fourth site is in a mall location, and completely different than what we thought we were seeking. However, the opportunity remains quite intriguing. There would be a significant impact on the business if we went with this site. There are many pros, and several cons. The question is, will the overall impact be positive or negative.
I have debated naming the sites that we’re considering, but have thus far refrained. Instead, I refer to them in vague terms, as above. It won’t help our negotiating position with the landlords to have too much information in the public domain. Also, I have no doubt that some of our competitors are listening in to this blog. (Hi guys.)
In the days since Thursday, we’ve also had some good investor meetings and completed a lot of smaller tasks that were piling up. We have a major investor presentation this week which requires a fair bit of preparation.
Lastly, but certainly not least, we lost a pet over the weekend. In 1991, a year after we married, we went to the Humane Society and adopted two kittens. They weren’t brothers. Bo and Diddley spent many years with us. Bo developed cancer in the summer of 2000 and went very quickly. Diddley had been going downhill this past year. We were constantly searching for a food that his digestive system could handle. This past week he simply stopped eating. He passed away quietly Sunday around 5:00pm.
It’s interesting. I grew up in a rural setting and worked on many farms. I’ve seen cattle slaughtered, toured a turkey “processing” plant, and been involved in many other harsh realities of rural life. But nevertheless, the passing of Diddley has definitely left a void. He was with us for more than 15 years. It was also very difficult to watch our boys go through the experience. Diddley was the first close loved one that they’ve lost. In a way, I’m glad their first loss was their pet, rather than a human family member. We did what we could to guide them through the grieving process, while also letting them do their thing, and cope however was best for them.
So, even though it was feline that we lost, and not a human family member, we are reminded that our time on this Earth is very limited, and that we should make the most of every day. Carpe diem! Seize the day!
Thursday, December 07, 2006
Think Big
“Think big!”
This is what I took away from a 1-hour animated children’s Christmas television show that we all watched earlier this evening. I can’t really recall what it was called. Something about a happy elf who helped bring the small town of Bluesville joy and happiness. So much so that they renamed the town Joyville.
I must admit that I spent most of the hour contemplating the elf’s mantra to “think big.” I believe it went something like, “think big and you can accomplish great things!”
Are we thinking BIG enough with Parmasters Waterloo Region? Are we letting perceived limitations hold us back? Are we keeping the plan smaller than it should really be?
As you might imagine, this is not the first time such thoughts have crossed my mind. They’re simply part of ongoing strategic planning.
I’ve never believed in reckless abandon. I’m not risk averse, but believe that all risks must be thoroughly calculated, and the reward must justify the risk.
By extrapolation, I do not believe that businesses should take any significant (read “material”) risks in areas where they have absolutely no experience or knowledge. I believe businesses should grow by pushing and stretching the envelope that represents their current experience and knowledge. Take some of what you know, and some of what you don’t know, and launch into a new market or product line or both. The key is to take some of what you KNOW.
In that sense, all businesses should, to an extent, think small. And necessarily so! Their plans should target growth that relies, at least partly, on knowledge and experience already found within the company.
However, truly effective companies also think BIG, because they leverage their existing knowledge and experience in BIG and innovative ways.
This is related to the science – I believe it’s a science – of asking appropriate questions. If you ask a team of brilliant analysts to figure out how to make a given process 10% more efficient, they will come back with a solid plan for a 10% gain. However, if you ask the same team to find a 75% improvement, they will likely return with a solid plan for a 75% improvement. The only difference is the question.
So, I guess the key is to think small, meaning leverage what you already KNOW, but think BIG, by asking BIG questions, and truly LEVERAGING existing experience and knowledge.
I believe, with Parmasters Waterloo Region, we’re building on existing knowledge and experience, while also asking the BIG questions, and LEVERAGING appropriately.
Yes, it seems we’re thinking BIG, and we will most definitely "accomplish great things!"
This is what I took away from a 1-hour animated children’s Christmas television show that we all watched earlier this evening. I can’t really recall what it was called. Something about a happy elf who helped bring the small town of Bluesville joy and happiness. So much so that they renamed the town Joyville.
I must admit that I spent most of the hour contemplating the elf’s mantra to “think big.” I believe it went something like, “think big and you can accomplish great things!”
Are we thinking BIG enough with Parmasters Waterloo Region? Are we letting perceived limitations hold us back? Are we keeping the plan smaller than it should really be?
As you might imagine, this is not the first time such thoughts have crossed my mind. They’re simply part of ongoing strategic planning.
I’ve never believed in reckless abandon. I’m not risk averse, but believe that all risks must be thoroughly calculated, and the reward must justify the risk.
By extrapolation, I do not believe that businesses should take any significant (read “material”) risks in areas where they have absolutely no experience or knowledge. I believe businesses should grow by pushing and stretching the envelope that represents their current experience and knowledge. Take some of what you know, and some of what you don’t know, and launch into a new market or product line or both. The key is to take some of what you KNOW.
In that sense, all businesses should, to an extent, think small. And necessarily so! Their plans should target growth that relies, at least partly, on knowledge and experience already found within the company.
However, truly effective companies also think BIG, because they leverage their existing knowledge and experience in BIG and innovative ways.
This is related to the science – I believe it’s a science – of asking appropriate questions. If you ask a team of brilliant analysts to figure out how to make a given process 10% more efficient, they will come back with a solid plan for a 10% gain. However, if you ask the same team to find a 75% improvement, they will likely return with a solid plan for a 75% improvement. The only difference is the question.
So, I guess the key is to think small, meaning leverage what you already KNOW, but think BIG, by asking BIG questions, and truly LEVERAGING existing experience and knowledge.
I believe, with Parmasters Waterloo Region, we’re building on existing knowledge and experience, while also asking the BIG questions, and LEVERAGING appropriately.
Yes, it seems we’re thinking BIG, and we will most definitely "accomplish great things!"
Wednesday, December 06, 2006
Ruthless
Busy day today. Lots of meetings. And we’re now officially into the Christmas party season. This evening I attended the Orbex Christmas open house. Of course, they probably refer to it in the non-Christian, more inclusive “holiday season” manner. Dwayne, the owner, is an old friend. We met during my third work term while doing my undergrad at UW, in 1987.
We’re doing more site tours tomorrow. I think we’re viewing approximately six sites. Mostly existing buildings. Two are currently empty lots. I also have investor and networking meetings tomorrow. Looking forward to another productive day.
I came across this Warren Buffet quote recently, and have been trying to slide it in to a post at some point. Since an opportunity has not really presented itself, I’ll simply foist it upon you.
“If you lose dollars for the firm by bad decisions, I will be very understanding. If you lose reputation for the firm, I will be ruthless.” -Warren Buffet
We’re building a service business, which is also necessarily a “reputation” business. I don’t tend to ever be “ruthless” with team members, but the team we build will have to understand the deep lessons captured in this quote.
We’re doing more site tours tomorrow. I think we’re viewing approximately six sites. Mostly existing buildings. Two are currently empty lots. I also have investor and networking meetings tomorrow. Looking forward to another productive day.
I came across this Warren Buffet quote recently, and have been trying to slide it in to a post at some point. Since an opportunity has not really presented itself, I’ll simply foist it upon you.
“If you lose dollars for the firm by bad decisions, I will be very understanding. If you lose reputation for the firm, I will be ruthless.” -Warren Buffet
We’re building a service business, which is also necessarily a “reputation” business. I don’t tend to ever be “ruthless” with team members, but the team we build will have to understand the deep lessons captured in this quote.
Tuesday, December 05, 2006
Giving and a Servant Attitude
We attended a Kitchener and Waterloo Community Foundation (KWCF) event this evening. It was the annual Presidents Reception. Wine, cheese, good conversation, good friends.
My wife and I then went out for dinner afterwards and discussed our charitable donations. We’ve been rather haphazard so far. We’ve lacked an overall strategy and philosophy. Our discussion this evening was the beginnings of said strategy and philosophy. The process has only begun.
Earlier this week we finalized arrangements with Thomson Associates Inc. Bill Thomson offers an angel funding facility to entrepreneurial ventures such as ours. Basically, he houses information regarding the business and investment offering on his website. He then sends a “nudge” to his close contacts and associates, urging them to have a look at the information and to consider their involvement.
Bill seems to approach this area of the business with somewhat of a servant mentality. His typical “deal” is certainly many times larger than my offering. There’s not much upside for him in working with me. Except that, he wants to help and enjoys seeing businesses and entrepreneurs succeed.
Bill has a vast and very influential network. I’ve already noticed a substantial increase in traffic on this blog.
So, to all of Bill’s colleagues, welcome. I look forward to future discussions.
I met Bill through my continued efforts to build out my own network of colleagues. JP introduced me to TW. TW introduced me to Bill. I’ve also introduced Bill to Parmasters HQ, specifically our CEO, as there are certainly several ways in which Bill can benefit Parmasters, and vice versa.
As I close this entry, it’s clear to me, as an entrepreneur, that our current charitable donations are not “sizeable”, nor will they be sizeable for quite some time. However, I’m reminded of the following quote.
“Sometimes when I consider what tremendous consequences come from little things ... I am tempted to think ... there are no little things.” -Bruce Barton
My wife and I then went out for dinner afterwards and discussed our charitable donations. We’ve been rather haphazard so far. We’ve lacked an overall strategy and philosophy. Our discussion this evening was the beginnings of said strategy and philosophy. The process has only begun.
Earlier this week we finalized arrangements with Thomson Associates Inc. Bill Thomson offers an angel funding facility to entrepreneurial ventures such as ours. Basically, he houses information regarding the business and investment offering on his website. He then sends a “nudge” to his close contacts and associates, urging them to have a look at the information and to consider their involvement.
Bill seems to approach this area of the business with somewhat of a servant mentality. His typical “deal” is certainly many times larger than my offering. There’s not much upside for him in working with me. Except that, he wants to help and enjoys seeing businesses and entrepreneurs succeed.
Bill has a vast and very influential network. I’ve already noticed a substantial increase in traffic on this blog.
So, to all of Bill’s colleagues, welcome. I look forward to future discussions.
I met Bill through my continued efforts to build out my own network of colleagues. JP introduced me to TW. TW introduced me to Bill. I’ve also introduced Bill to Parmasters HQ, specifically our CEO, as there are certainly several ways in which Bill can benefit Parmasters, and vice versa.
As I close this entry, it’s clear to me, as an entrepreneur, that our current charitable donations are not “sizeable”, nor will they be sizeable for quite some time. However, I’m reminded of the following quote.
“Sometimes when I consider what tremendous consequences come from little things ... I am tempted to think ... there are no little things.” -Bruce Barton
Monday, December 04, 2006
Focus and Free Days
I saw Bob Proctor and others from The Secret interviewed on Larry King in November. Bob spoke about Focus Days and Free Days.
Focus Days leverage the 80-20 rule. Typically 80% of our production (or you can think of effectiveness, or leverage, or achievements) come from 20% of our activities. The first step is to understand which activities deliver all of this benefit. Then, set aside Focus Days that are dedicated entirely to these activities.
Free Days are just that. You’re free to do whatever you want. Some studies apparently show that people with more free days become more successful. I have not seen any data on this, so don’t quote me!
I plan to start with one Focus Day and one Free Day per month.
Something to contemplate …
Focus Days leverage the 80-20 rule. Typically 80% of our production (or you can think of effectiveness, or leverage, or achievements) come from 20% of our activities. The first step is to understand which activities deliver all of this benefit. Then, set aside Focus Days that are dedicated entirely to these activities.
Free Days are just that. You’re free to do whatever you want. Some studies apparently show that people with more free days become more successful. I have not seen any data on this, so don’t quote me!
I plan to start with one Focus Day and one Free Day per month.
Something to contemplate …
Friday, December 01, 2006
Building Up Rather Than Out?
As you know, we continue to search for a site to house Parmasters Waterloo Region. It’s taking a little longer than anticipated to find the right site. However, at the same time, it’s time very well spent. Location and building (configuration, esthetics, price, etc.) are crucial to success. We will not rush into the wrong location.
To broaden our choices, we’ve been considering the possibility of a two story Parmasters. Well, really a story and a half I guess. We’re considering including a mezzanine or loft area.
Going up into a mezzanine would allow us to reduce our overall footprint by roughly the size of the mezzanine. Thus, instead of a 15,000 sq. ft. footprint, we could consider leasing say 12,000 sq. ft. and building a 3,000 sq. ft. mezzanine.
Several considerations come to mind:
- Will the space still create that “wow!” reaction that we’re looking for?
- Which components go up on the mezzanine?
- Will we have to install an elevator or lift?
- How much vertical – floor to ceiling – clearance do the components require?
We believe that a two story section, along with a balcony up on the mezzanine, overlooking the rest of the center, will create a very interesting and appealing space. The “wow!” reaction is still very attainable.
If we were to offer a ground floor alternative to all components that are up on the mezzanine, we believe an elevator would be unnecessary. So, if we put six simulators up on the mezzanine and had two identical simulators on the main floor, no need for an elevator.
But when you start considering the components that go up, and the components which sit underneath the mezzanine, it becomes complicated.
Certain components must remain on the main floor. These include the café, the pro shop (we call it Kaizen Korner), the green and short game area, and ideally the meeting room. Club storage and repair should also stay on the main floor, along with the locker rooms.
My office can certainly go upstairs.
However, the remainder of the components are driving bays (simulators, fairway bunker bay, fluency machines) and the fitness area. These components all require at least a 12 foot ceiling.
So, it seems, if we were to include a mezzanine we would require at least 12 foot ceilings both above and below the mezzanine. That suggests at least a 25 foot overall ceiling height.
We have not yet seen a building with a 25 foot clear ceiling.
Of course, there is also the cost side of the equation. We would only consider a mezzanine if the cost per sq. ft. for the floor area was above our budget. Thus, the cost of the mezzanine (capital cost) would be offset by reduced lease costs (operational).
But, in the end, it’s quite unlikely that we will find a space with 25 foot ceilings that requires us to build a mezzanine.
To broaden our choices, we’ve been considering the possibility of a two story Parmasters. Well, really a story and a half I guess. We’re considering including a mezzanine or loft area.
Going up into a mezzanine would allow us to reduce our overall footprint by roughly the size of the mezzanine. Thus, instead of a 15,000 sq. ft. footprint, we could consider leasing say 12,000 sq. ft. and building a 3,000 sq. ft. mezzanine.
Several considerations come to mind:
- Will the space still create that “wow!” reaction that we’re looking for?
- Which components go up on the mezzanine?
- Will we have to install an elevator or lift?
- How much vertical – floor to ceiling – clearance do the components require?
We believe that a two story section, along with a balcony up on the mezzanine, overlooking the rest of the center, will create a very interesting and appealing space. The “wow!” reaction is still very attainable.
If we were to offer a ground floor alternative to all components that are up on the mezzanine, we believe an elevator would be unnecessary. So, if we put six simulators up on the mezzanine and had two identical simulators on the main floor, no need for an elevator.
But when you start considering the components that go up, and the components which sit underneath the mezzanine, it becomes complicated.
Certain components must remain on the main floor. These include the café, the pro shop (we call it Kaizen Korner), the green and short game area, and ideally the meeting room. Club storage and repair should also stay on the main floor, along with the locker rooms.
My office can certainly go upstairs.
However, the remainder of the components are driving bays (simulators, fairway bunker bay, fluency machines) and the fitness area. These components all require at least a 12 foot ceiling.
So, it seems, if we were to include a mezzanine we would require at least 12 foot ceilings both above and below the mezzanine. That suggests at least a 25 foot overall ceiling height.
We have not yet seen a building with a 25 foot clear ceiling.
Of course, there is also the cost side of the equation. We would only consider a mezzanine if the cost per sq. ft. for the floor area was above our budget. Thus, the cost of the mezzanine (capital cost) would be offset by reduced lease costs (operational).
But, in the end, it’s quite unlikely that we will find a space with 25 foot ceilings that requires us to build a mezzanine.
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