20 Insights From My Time In Tickets, Sports Business, and Entertainment

In Uncategorizedby wakemanconsultingLeave a Comment

Over the weekend, I spent some time with David C. Baker’s book on expertise and he advocates an exercise he calls “drop and give me 20” to tell you how your expertise is positioned or if you are positioned correctly.

It was a fun exercise and I wanted to share what I wrote so that you could see where my thinking is:

  1. Price is an issue for most buyers because the value exchange isn’t sufficient.
  2. Consumers say that they like choice, but consumer psychology tells you that too many choices means they will most likely say no.
  3. Revenue generation can be as simple as offering great customer service.
  4. An empty stadium is a sign of an unhealthy business.
  5. If you aren’t answering your phone, why do you expect that your prospects will?
  6. Event discovery is a huge issue.
  7. Most entertainment organizations are bad marketers.
  8. Institutional knowledge has been lost in too many organizations.
  9. Open ticket markets help drive sales, but they require more innovation and do require a bit higher risk tolerance.
  10. Aiming for best in class is BS. Aim for world-class.
  11. People are often bad at telling you what they will value, you have to make a guess and offer it to them.
  12. Perception is at the heart of selling and marketing experiences. If you aren’t developing mystique around what you are selling, you are losing.
  13. Winning doesn’t solve anything!
  14. A hot show is only hot for so long.
  15. We often limit our revenue streams out of lack of creativity or lack of courage.
  16. Every experience is once in a lifetime! Why not market that?
  17. Too many people have given away their jobs to platforms and are just checking boxes.
  18. If something doesn’t make sense, ask “where the money is going?”
  19. Taking ideas from outside the industry is essential.
  20. Change is constant. Don’t fight. Own it!

What say y’all?

Let me know below in the comments.

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