Five Challenges

Five challenges facing dive retailers in the coming year

The Growing Digital Divide in Dive Center Marketing

divideResearch shows that small businesses that utilize technology perform better than those that don’t. Cloud services, analytics, and mobile technologies allow small businesses to cut costs, better connect to new and existing customers, and also gain market share. The Internet has shifted the competition from the business to the consumer and businesses that fail to empower the customer risk losing them to the competition. The gap between small businesses that use technology and those that don’t, will widen in 2014, making it difficult for those that don’t utilize technology to catch up to their tech savvy competitors.


The Real Cost of Staffing Your Dive Center

staffingAside from fixed costs, such as minimum wage, benefits, and health care, your hiring practices can cost you the loss of a sale, the loss of a student, and eventually the loss of your business if you hire the wrong person for the wrong reasons. Did you hire someone because of convenience, out of desperation or did you hire the right person who will be productive in your business?


Combat Competition and Business Failure: Work “On” Not “In” Your Business

failureCompetition is increasing and only a small percentage of businesses avoid failing. Less than 40 percent of small businesses are profitable, less than 30 percent break-even and 30 percent lose money. Eighty percent of small businesses fail within the first two years. You can identify a myriad of reasons for these trends. However, one reason for poor performance and the large number of failures is that most small business owners work “in” their business and not “on” their business.


Focus on Cash Flow and a Cash Reserve

cashflowCash is to your business what blood is to your body; if it doesn’t flow you will die. The number one reason businesses fail is lack of money. Without a healthy cash flow and reserve, your dive center will go out of business regardless of the number of mask and fin sets you sell or the amount of trip deposits customers owe. The cash flow and reserve enables to you take advantage of early payment discounts, closeout sales, new opportunities, and unexpected emergencies.


Focus on Analytics

analyticsWhether it’s the box scores in baseball or the seemingly endless categories of statistics spewed out by Al Michaels during the broadcast of a football game, numbers are a big part of sports. Even though the final score is the only set of numbers that matter, the other numbers and statistics give us a more complete and nuanced picture of the game that was played. What statistics are to sports, analytics are to business. Certain numbers matter more (cash flow) but other numbers can reveal problems and show successes in your dive center.