Anyone participating in a New Year weight loss/fitness challenge?

Jan 17, 17 6:14

Post #1 of 16 (1161 views)

I'm organizing a weight loss challenge for my coworkers. There's one that just started in which the top three winners are determined by percent of body weight dropped. I'm not looking to lose major poundage, so it didn't make sense for me or a dozen or so others to join that challenge.

The model I'm most likely going to go with allows participants to choose their goal: 5, 10, 15, and 20+ pounds, with all participants paying in $50. Participants who hit their target get their $50 back, plus a cut of the money contributed by those who missed their goal. The payout will be divided up proportionally by percent of total pounds lost by the winners, so that a successful 20 pound goal achiever will get their $50 back plus whatever percentage of the total pounds lost amounts to in proportionate percentage of the winner's pot. Five pound goal achievers will get their $50 back plus a proportionally smaller cut of the pot. High risk, higher reward, but it encourages participation for more people and rewards goal achievers at all levels with break-even money plus.

That's about the best I could come up with. Any other interesting ideas for how to structure this thing?

The devil made me do it the first time, second time I done it on my own - W

Re: Anyone participating in a New Year weight loss/fitness challenge? [sphere] [ In reply to ]

Jan 17, 17 6:29

Post #2 of 16 (1155 views)

What's the time frame? The full year?

I've always found that a good reward in these situations is consistency. See who can hit their goals, but do so with the least variability (e.g. 2 lbs/month rather than 5 lbs one month, 1 lb the next month, 3 lbs the month after that, etc.).

In the end, consistency is the key; being on a plan that requires regular attention, versus huge swings that shock the body.

"The right to party is a battle we have fought, but we'll surrender and go Amish... NOT!" -Wayne Campbell

Re: Anyone participating in a New Year weight loss/fitness challenge? [sphere] [ In reply to ]

Jan 17, 17 6:34

Post #3 of 16 (1145 views)

No but I am now wearing a fatbit everyday and trying to move around more. Take the stairs only and whatnot. I have a "challenge" from a coworker but she's chained to her desk so beating her is not really much of a challenge.

Just really trying to do more every week, trying to get my step count up to the 10,000 recommended minimum.

How does Danny Hart sit down with balls that big?

Re: Anyone participating in a New Year weight loss/fitness challenge? [sphere] [ In reply to ]

Jan 17, 17 6:42

Post #4 of 16 (1137 views)

Did it three years ago with a few coworkers, we went 90 days who could lose the highest percentage. We had weekly weigh ins same day every week. At the end 2 guys had pretty much dropped out and it was just a couple of us left. It was fun and kick started doing obstacle races and triathlons that me and one of the other guys still do, all the rest have gone back to their previous ways and weights.
We came up with the plan at the company holiday party when everyone had a couple drinks in them.

Re: Anyone participating in a New Year weight loss/fitness challenge? [sphere] [ In reply to ]

Jan 17, 17 7:04

Post #5 of 16 (1128 views)

Kind of hard for me to challenge anyone or be in a challenge given that I work for myself. If I were in that situation, I would certainly add the $ component to the challenge plus a humorous gift, plaque or reward that can be prominently displayed.

I did challenge myself to lose 20-25 pounds - I started at 143-ish (I am 63"). Seventeen days in, I am down something 8-10 pounds. More exercise is helping, but the key for me is to cut out the empty calories and portion control (I weigh my food).

Re: Anyone participating in a New Year weight loss/fitness challenge? [sphere] [ In reply to ]

Jan 17, 17 7:05

Post #6 of 16 (1127 views)

A friend of mine did something similar and won. It was right before he started his marathon training. =)

FWIW, its the 17th and I'm down 4 lbs (2%) and 2 1/4" on my waist. I'm still ~3" above my PB.

-----------------------------Baron Von Speedypants
-----------------------------RunTraining articles here:
http://forum.slowtwitch.com/...runtraining;#1612485

Re: Anyone participating in a New Year weight loss/fitness challenge? [sphere] [ In reply to ]

Jan 17, 17 7:18

Post #7 of 16 (1111 views)

I actually really like that structure, haven't heard of one like it.

I've had friends and co-workers do challenges, a few who have won them (big-money pots, too). One of them dropped 44 lbs (I believe that's what it was, definitely 40+) in a three-month percentage challenge, he went from 250-ish to under 210 and just barely beat someone who went from around 190 to 160.

And while I think the % challenges are better than straight pounds lost, I've always felt like they excluded people who wanted to do it 'responsibly', slowly lose a pound or two a week for a few months, which tends to be easier to maintain. For me, I'm 168 and this is the first year in a while that I have some excess weight, but not nearly enough for a %age challenge.

Long story short: I like your idea, I think it'd be a great way to do it, the people with only 5-10 to lose (or only wanting to commit to a smaller amount of weight loss) would be more inclined to participate. Definitely check in with results if you do wind up running it like this!

Re: Anyone participating in a New Year weight loss/fitness challenge? [Brownie28] [ In reply to ]

Jan 18, 17 11:46

Post #8 of 16 (1040 views)

Here's the problem, which people should figure out pretty easily.

The biggest payouts go to the participants who lose the most weight, and the prize pot will come from people who don't reach their goal. The smart bet is, for people who plan on losing a lot of weight anyway, to set a low goal to guarantee they recoup their $50 buy-in fee, even if they plan on losing 20+lbs. In other words, there's no incentive to declare a goal higher than 5 pounds for anyone if the payout is proportional to the weight lost, and not tied somehow to the initial target number. The more people declare a lower target number, the fewer will fail to reach the target, and the smaller the prize pot.

I need to find a way to tie it to that number and still pay it out proportionally.

The devil made me do it the first time, second time I done it on my own - W

Last edited by: sphere: Jan 18, 17 11:54

Re: Anyone participating in a New Year weight loss/fitness challenge? [sphere] [ In reply to ]

Jan 18, 17 12:33

Post #9 of 16 (1024 views)

I didn't read close enough the first time so I see what you're saying, but there's an easy fix. This seems to be the issue:
The payout will be divided up proportionally by percent of total pounds lost by the winners, so that a successful 20 pound goal achiever will get their $50 back plus whatever percentage of the total pounds lost amounts to in proportionate percentage of the winner's pot.

Why not tie it to their goal amount? So everyone who reached their goal gets back their $50, the rest goes into a pool. The pool payout goes like this:
20-pound target: 50%
15-pound target: 25%
10-pound target: 15%
5-pound target: 10%

If no one declares for a particular target that money rolls up. So let's try out an example: 3 people target 20 lb, 2 target 15 pounds, 12 target 10 pounds, 15 target 5 pounds. Total kitty: $1,600

2 hit 20-lb target, 0 hit 15-lb target, 8 hit 10-lb target, 13 hit 5-lb target, so you're giving back $1,150 and have $450 to play with.

2 20-lb target people get $112.50 apiece (50%), AND $56.25 apiece because no one hit 15-lb target ($168.75 apiece)
8 10-lb target people get $8.44 apiece
13 5-lb target people get $3.46 apiece

So maybe the numbers need to be tweaked, but it's all based on how many people declare for particular weight loss brackets. But this way it'd actually encourage people to shoot for higher weight loss targets. Just a thought.

Re: Anyone participating in a New Year weight loss/fitness challenge? [sphere] [ In reply to ]

Jan 18, 17 12:48

Post #10 of 16 (1013 views)

I'm not participating in a challenge, but from having experience in writing performance review scorecards that had a bunch of calculation methods baked in I'd highly encourage making the calculation as idiot-proof as possible. When you start adding in a flat amount plus some percentage if one thing is done, another percentage if another thing is done, etc. you might get it and understand it, but inevitably there will be someone who doesn't get it, feels "screwed" by it because they don't understand, and then there's some unnecessary drama to deal with by someone who feels that they should get their money back or get more back.

As for challenges, I never join these because the weight loss goal is something that I don't need to chase, but lowering body fat is never a challenge that's offered. I could be completely fine staying at my exact same weight, adding some muscle, and dropping some body fat, but would lose a challenge every time based on that and I think it probably limits participation in these kinds of things.

sphere wrote:

I'm organizing a weight loss challenge for my coworkers. There's one that just started in which the top three winners are determined by percent of body weight dropped. I'm not looking to lose major poundage, so it didn't make sense for me or a dozen or so others to join that challenge.

The model I'm most likely going to go with allows participants to choose their goal: 5, 10, 15, and 20+ pounds, with all participants paying in $50. Participants who hit their target get their $50 back, plus a cut of the money contributed by those who missed their goal. The payout will be divided up proportionally by percent of total pounds lost by the winners, so that a successful 20 pound goal achiever will get their $50 back plus whatever percentage of the total pounds lost amounts to in proportionate percentage of the winner's pot. Five pound goal achievers will get their $50 back plus a proportionally smaller cut of the pot. High risk, higher reward, but it encourages participation for more people and rewards goal achievers at all levels with break-even money plus.

That's about the best I could come up with. Any other interesting ideas for how to structure this thing?

Re: Anyone participating in a New Year weight loss/fitness challenge? [Brownie28] [ In reply to ]

Jan 18, 17 12:50

Post #11 of 16 (1010 views)

That was the only option that I could arrive at, but was concerned that it left for the possibility of multiple participants splitting a higher % payout, and a single participant winning a lower % payout, with the result being that a participant who only lost a few pounds could take home money.

Say the winnings pot is $1,000. If six people divide up the 50% slice (20lbs lost goal), they walk with $83 apiece, but if only one person claims the 25% slice (15lbs lost goal), they walk with $250. That can't happen.

We're looking at maybe a dozen people, at most. There's a real possibility of a category between 5lbs and 20lbs having only one winner.

The devil made me do it the first time, second time I done it on my own - W

Re: Anyone participating in a New Year weight loss/fitness challenge? [MidwestRoadie] [ In reply to ]

Jan 18, 17 12:58

Post #12 of 16 (1004 views)

Understood, which is why I structured it with self-determined goals. I carry a lot of muscle mass, and my ultimate goal is to lower body fat percentage, so 10 pound weight loss is a starting point for what I actually need to lose, regardless of composition. I'm in another competition with the neighborhood dads that is caliper-based and strictly focused on lowering body fat.

I think the challenge, at least from the feedback I've heard, appeals to people who want added motivation to lose weight but don't want to throw money away in a competition where people binge and crash diet essentially for the cash consideration.

The devil made me do it the first time, second time I done it on my own - W

Re: Anyone participating in a New Year weight loss/fitness challenge? [sphere] [ In reply to ]

Jan 18, 17 13:16

Post #13 of 16 (995 views)

I'm doing a challenge with my brother based on blood sugar levels. We have a glucose-meter and will test weekly so its very objective. If you lower blood sugar your almost certain to lower fat and body weight.

We are twins and have the same fasting reading now so it's pretty simple. The first bet is who gets to 5.0 mmol/L first, then it will be who can stay below that figure for the most number of weeks.

Lots of money involved.

Re: Anyone participating in a New Year weight loss/fitness challenge? [Sanuk] [ In reply to ]

Jan 18, 17 13:25

Post #14 of 16 (988 views)

Good call. You should follow it up in 1 year with a high stakes A1c.

The devil made me do it the first time, second time I done it on my own - W

Re: Anyone participating in a New Year weight loss/fitness challenge? [MidwestRoadie] [ In reply to ]

Jan 18, 17 14:05

Post #15 of 16 (972 views)

Quote:

I'm not participating in a challenge, but from having experience in writing performance review scorecards that had a bunch of calculation methods baked in I'd highly encourage making the calculation as idiot-proof as possible. When you start adding in a flat amount plus some percentage if one thing is done, another percentage if another thing is done, etc. you might get it and understand it, but inevitably there will be someone who doesn't get it, feels "screwed" by it because they don't understand, and then there's some unnecessary drama to deal with by someone who feels that they should get their money back or get more back.

Yeah, I can see that being an issue. So far the comments have been along the lines of, how'd you come up with that complicated algorithm? I'm not a numbers guy, and it seems fairly straight forward:

Contestants who don't hit their target get nothing, lose their $50 buy-in
Losers group buy-in fee becomes the prize pot
Winners group loses 100lbs collectively
You hit your target and lose 15lbs.
Meaning, you lost 15% of the total winner's weight loss
You receive 15% of the prize money, which amounts to $15
You get back your $50 buy in
You take home $65

The devil made me do it the first time, second time I done it on my own - W

Re: Anyone participating in a New Year weight loss/fitness challenge? [sphere] [ In reply to ]

Jan 18, 17 14:10

Post #16 of 16 (968 views)

Good call. You should follow it up in 1 year with a high stakes A1c.

If there's money involved I'll do it.

I like betting and if I can find a way to improve health at the same time, it's a bonus.

Our Partners

transition-DOT-area-AT-slowtwitch-DOT-com

Advertise with us

©1999-2024 Slowtwitch, Inc., and Slowtwitch.com
Reproduction of material from any Slowtwitch.com page
without written permission is strictly prohibited.