As a caloric assault on my body, I decided to take my lady to go get some fast food. Burger King to be precise. Their Incredible Whopper is in a word, unique. We pulled up, ordered and in less than three minutes were stuffing our faces with utterly useless calories.
Our fast-food experience reminded me of a business meeting years ago, minus the caloric catastrophe.
About ten years ago, a friend had been given a copy of income statements for five restaurants by the owner. At the time, my friend was considering starting a restaurant. There were three fast-food franchise restaurants and two high-end restaurants on the income statement list.
Would you like to guess which restaurants were massively profitable?
It was neither of the high-end restaurants, but the fast-food franchises. When my friend asked the owner about the disparity, his response was, "the fast-food franchises all have a manual to run the business."
As a result, far less guesswork and more efficient systems. The high-end restaurants were much more chaotic and lacked a system to run. There was a lot of costly trial and error. That wasn't the case with the franchise restaurants.
In fact, all the fast-food franchises were paying for all the financial shortfalls of the high-end restaurants. And that's the secret ... fast food franchises use a proven system!
So, are you using a proven system to market and run your event? When asked, most event organizers reluctantly reply, "No, we're not."
A particular point of event weakness is advertising and marketing. Or what my friend Roman Yako refers to as "completely random acts of marketing!" And few, if any results, can be found.
If you are not using a system to market your event, now's the time to take action! As the tired cliche goes, "the best time to plant a tree was twenty years ago, the next best time to plant a tree is today!"
Go out there an find a system with a proven track record. Hint: some people have already discovered it. Instead of re-inventing the wheel, ethically borrow what others are doing.
A little secret about the systems my clients use to generate record ticket revenues, the systems are an amalgamation of other tested and proven marketing systems. I give credit where credit is due, and model intently. You can do the same!
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