Mystic Business Model
Wheel of Mystic
The image of a wheel is how Mike explains his business model at Mystic Hot Springs. Just like a wheel cannot be functional without it's spokes, neither can a healthy bottom line without multiple streams of income. The spokes, or income streams, all point to the center, the hub, which is the hot springs water and the main attraction which draws people to Mystic. With multiple businesses all supporting the wheel, Mystic Hot Springs can roll into the future with ease. Moderate success in many different areas accounts for a strong, sustainable business built to last.
Some of the spokes that are driving the mystic wheel are soaking, camping, pioneer cabins and hippie buses for overnight lodging, video production, and the mobile home park. Any one of these spokes individually are incredible businesses and are solid streams on their own. The fact that Mike has been able to build and sustain so many different, unique businesses speaks to the quality and mindful execution of Mystic Mike's vision.
Mike is committed to only doing business that coexists with his personal values and ethics. He operates in life being honest, transparent, up front, and treats everyone, no matter who you are, the same way. He wants Mystic to be open and available to all kinds of people and offers work trade or craft trade in lieu of cash.
Word of mouth is really the best advertising. After 18 years, Mystic has reached a critical mass where Mystic is continually busy and a great number of the people that walk through the door have come because they were referred by family and/or friends. Mystic is also legendary among the Jam Band scene and is well loved by many bands and their fans. Although Mystic is continually getting busier every month, there is still an incredible potential for growth even within it's target market. Mike feels that if people continually have a good time at Mystic, and they tell their friends about it, there will be plenty of people wanting to discover Mystic Hot Springs for themselves.
The idea of being mindful during his creative process, Mike strives to put his entire focus into each moment and has been doing just that the entire ride on the wheel of Mystic Hot Springs. 18 years later, Mike is going strong with a organically grown business built of mindfulness and on the horizon he sees a bright future ahead.
The Three Realities of Mystic Hot Springs:
1. Nothing lasts
2. Nothing is finished
3. Nothing is perfect