Business Lessons from Las
Vegas
If you haven’t been to Las Vegas
recently – you must go. 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. Las Vegas 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 from Las Vegas.
Follow systems
The Las Vegas casinos win most
of the time – because they have and follow good systems.
Some players think they have systems because they
occasionally win. But the casinos are consistently
successful because of their better systems.
Don’t be greedy
The Las Vegas casinos do not win
every game. But they consistently win enough of the time
and they are satisfied with that.
Promote your brand
Las Vegas is a unique city and
the casinos 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 value
Value 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 everyone
You 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
emotional
The 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 Las Vegas casino
staff mask their emotions behind their systematized
tasks. Emotional people make mistakes, are more likely to
say yes to another game,
People buy what they want not
what they need
No 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 experience
What 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
safe
Las 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 off
Keep it clean
The 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 choices
Pamper 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. 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 – you must go. Take lots of notes when you
visit.
---------------------------------
Read about Secrets from
David Copperfield
http://www.powermarketing.ca/secrets_from_david_copperfield.html
Official City of Las Vegas
site
http://www.lasvegasnevada.gov/
Bellagio Hotel &
Casino
http://www.bellagio.com/
---------------------------
© 2000-09 George Torok All Rights
Reserved

George Torok brings practical insights to
business. He is co-author of Secrets of Power Marketing, the
first guide to personal marketing for the non-marketer. As host
of Business in Motion he has interviewed over 400 business
leaders. He is available to deliver keynote speeches and
business seminars. Contact him at 905-355-1997 or visit
www.Business-Speaker.biz
You can read an
excerpt from the book at www.PowerMarketing.ca
. Get your
free Marketing Tune-up at www.MarketingTuneUp.ca
. Marketing
expert, George Torok is available for speaking
engagements and media interviews at www.Torok.com
© 2000-09 George Torok All Rights
Reserved
Business Articles by Business Speaker, George
Torok
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