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Main » 2013 » July » 23 » Business Lessons from Las Charlotte Olympia Vegas by George Torok
8:07 AM Business Lessons from Las Charlotte Olympia Vegas by George Torok |
| Business Lessons from Las Vegas by George Torok If you haven't been to Las Vegas
recently you must go. Charlotte
Olympia Birthday Pisces Zodiac Suede Smoking Slipper In Purple When you
visit take good notes. Las Vegas is an inspiring business model. Las Vegas is a
place to learn how to run your business. It might be called the sin city. But
the real lessons of Vegas are not about gambling. It's about how to run a
successful business.Study these important business lessons that I learned from
Las Vegas.Follow systemsThe Las Vegas hotels win most of the time - because they
have and follow good systems. Some players think they have systems because they
occasionally win. But the hotels are consistently successful because of their
better systems.Don't be greedyThe Las Vegas hotels do not win every game. But
they consistently win enough of the time and they are satisfied with
that.Promote your brandLas Vegas is a unique city and the hotels are unique. The
Luxor named after the ancient Egyptian city, is built in the shape of a pyramid.
Excalibur named after the sword of King Arthur looks like the castle Camelot.
New York New York makes you feel as if you are in the big apple. Las Vegas has a
strong brand.Offer valueValue is in the eye of the beholder. That's why in Las
Vegas one could pay hundreds of dollars for a room or $80. That's why you can
gorge at the $5.99 all-you-can-eat buffet or dine on $150 steak accompanied by
$300 wine."Free" fools everyoneYou can find free show tickets and free
helicopter rides in exchange for attending a high pressure time share pitch. You
can drink for free while you are gambling. High stakes gamblers get free room
and meals.Encourage your customers to be emotionalThe lights, sounds and design
of Las Vegas are created to drive the emotions of the customers. Emotional
customers spend more and they infect other customers with their emotion. The
staff mask their emotions behind their systematized tasks. Emotional clients
make mistakes and are more likely to say yes to another game,People buy what
they want not what they needNo one needs to visit Las Vegas. No one needs to
gamble. No one needs to pay $100 for a show ticket. No one needs to ride in a
Hummer. But when people want these things price becomes less important. Las
Vegas knows that and they sell what people want.Create an experienceWhat do you
want? That is the real calling card for Las Vegas. What do you want? You have
choices in food, gambling, entertainment, transportation, and side trips.
Remember no one needs what Vegas offers but people return for the experience and
the memories.Make people feel safeLas Vegas, the city of sin feels safe. People
walked along the strip with drinks in their hand yet there was no sign of
violence. And the police kept a very low profile. The street venders always
respected our signals to back offKeep it cleanThe Charlotte Olympia
streets of Las Vegas are clean. I went for an early morning run and noticed the
street sweepers preparing for a new day. Even with an inordinate number of
smokers I did not notice cigarettes butts on the sidewalk.Offer choicesPamper
yourself at the Bellagio. Ride a gondola at the Venetian. View the city from the
top of the Stratosphere. Entertain your family at Circus Circus. Rent a
limousine. Attend a meeting at the Las Vegas convention center. Marvel at a
magic show. Ride the Sky Train post by haiyan701. Walk the strip. Visit
downtown.Las Vegas is an incredible experience. Las Vegas is a fabulous business
model. If you haven't been to Las Vegas yet - go. Notice the details and observe
how they do things. Take notes. Then re-examine and reinvent your business.
Stack the odds in your favor. You'll have a winning hand.
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