Las Vegas hold lots of lessons entrepreneurs can apply to their business and life. The lights, energy, emotion, experience and life on the strip is a must see for many reasons. I always view and observe things through an entrepreneurial lens. Here are a three quick insights, experiences and lessons I have taken away from my time here in Las Vegas
Business will thrive when it’s leaders understands an important money equation. Money is exchanged. It leaves one source and passes to another. Income is created when money flows to you and your company from another source. To the degree you have more flow in that out, you win with the measure of profit. What side of the equation are you on? Do you consistently have more coming to you than going from you? In Vegas, the house always wins. Is this the case for you and your company?
People make decisions when they are influenced emotionally. The strip is filled with very intentional items that connect with a person emotionally. This influences them to be on the money leaving side of the equation, while at the same time feeling great about it. What does your business do to connect with and influence people at the emotional level? How does it inspire them to place themselves on the money leaving side of the equation? When, where and how do you place your company and brand to be on the receiving side.
People will pay what you charge when their is no other option. The Las Vegas strip is like nothing else on the planet. People flock there from all over the world to experience it. As they are influenced emotionally and are placed on the money leaving side of the money equation, the amount of money leaving is ridiculously high due to the fact that there is nothing else like it anywhere. What unique value does your company bring that leaves people clearly determining that there is nothing else like you?
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