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.
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.
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.
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
Las Vegas is an incredible experience. Las Vegas is a fabulous business
If you haven’t been to Las Vegas yet – you must go. Take lots of notes when you
Read about Secrets from David Copperfield
Official City of Las Vegas site
Bellagio Hotel & Casino
© 2000-12 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 905-335-1997 or visit www.Business-Speaker.biz
You can read an excerpt from the book
at www.PowerMarketing.ca . Get
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Business Articles by Business Speaker, George Torok