Las Vegas: The city of superlatives. The city of big shows. The city of lights and neon signs. But also, the city of sin and addiction. There are many extremes in Las Vegas, both positive and negative. An inspiring environment to learn some important advice for your daily business.
# Think further than the competition
A dolphin tank in the desert? A freefall tower at a height of 350 metres? A complete pirate show on your doorstep? Hotels in Vegas offer a variety of extraordinary attractions. And ideas for new, dizzying offers emerge every day.
The competition and density of offers is overwhelming. Tens of thousands of rooms, millions of visitors every year - it is becoming increasingly difficult to stand out from the competition. And yet their own boundaries are constantly being crossed, dreams become reality. Many entrepreneurs understood: Without innovation, enthusiasm and new ideas, survival in the desert is not possible.
Don’t rest on your laurels; stay agile, keep up with the times and invest in new developments.
# Be able to stop
The current Coinstand is already above the budget. But there’s more, after all, the machine has a seven-digit jackpot - it would be a laugh if you couldn’t crack it, right?
A scenario like from a bad documentary - but for many hundreds of people everyday life in Las Vegas. Finding a way out is extremely difficult and the threshold of finding out is almost perfectly increased by casinos.
In our daily business, we regularly deal with similar scenarios and often separate ourselves too late from unprofitable products or unproductive business areas.
That’s why the same applies here as in Las Vegas: Fail fast, fail cheap.
# Awakening wishes
Did visitors wish for a Venetian canal in the middle of the desert? Hardly. Nevertheless, the cameras of the tourists flash at any time of day or night and gondola rides on the artificial canals are sold every minute.
To arouse a need that does not actually yet exist - this is part of the supreme discipline, especially in the tech industry - the iPad from Apple would be an example here. The profit potential is exorbitantly high, as a first mover you can create a new market.
Control over the market gives you the opportunity to sell and control your product. If the competition must be based on your requirements, you dominate the market.
# Show professionalism - every day
“Oh, that’s really cool!” Just a quick statement to give your counterpart a good feeling. And probably the nice waiter is not really interested in where you come from - he will have already met other guests from your country. Nevertheless, you smile because of a few simple words.
People pay you for a product or service. You are responsible for their well-being. Whether you had a bad day or not, a customer should never feel it - the markets are too competitive for that. A large part of the purchase takes place on an emotional level, not on a rational one. Was the seller nice and took his time? Tackled my problem? In other words: Was he professional? Then the simple customer can soon become a regular visitor.
Remember you are a professional, even on bad days. Personal matters must not interfere with your client’s work.
# Exaggerate sometimes
“World famous”, “World’s biggest”, “World’s first” - which descriptions are used in Las Vegas for simple snack bars can only be called exaggerated. It is those who use big words who win.
In Germany to deal with superlatives in an inflationary way would not be the right way. Your company would quickly be perceived as cheap, seriousness would be lost. At the same time, however, it is important not to make your company and your products and services smaller than they are. You were the first supplier in your segment on the market? Then you have every right to present it that way and thus underline your experience. Your technology is better? Then put out exactly why and with it your competition in the shade.
Only if you yourself are convinced of your product and you convey this in your communication in an understandable way will you have the chance to inspire your customers.
# Be among the winners
The goal of every successful company should be to constantly strive for new innovations and always leave the competition one step behind. The will to achieve great things. The will to amaze and set new standards. Start today and build something special! Viva Las Vegas!