What’s your experience?
We’re living in a weird world where people are paying less and less for content, but more and more for experiences.
This one trend could have a deep impact on your business model.
This week’s Entrepreneur TV video is from Las Vegas, a city getting record visitor numbers (41 million a year, growing soon to 45 million a year). And they aren’t coming for the gambling. Less than a third of visitor spend is now on the casinos. The rest is on the shows, theatre, music, sports and conventions.
If you’re trying to sell content, and you’re struggling, take a tip from the most progressive music celebrities. They are now practically giving their music away, but then charging for the concerts and fan experiences.
There are two ways to scale your business. You can ‘multiply’ – by making things simple and making many, like selling books and charging for transactions. Or you can ‘magnify’ – by making things special and having just a few, like first class experiences on airlines.
The best business models today are no longer scaling in just one or the other. They are combining the two together. I share how in the video.
I also share in this video the winner of our recent competition, along with exciting news on our upcoming Wealth Dynamics 3.0 and Talent Dynamics 3.0 launches taking place in the coming month, along with the iLab Global Impact Awards 2015, launching next week!
We’re half way through 2015, so let’s make the second half even better than the first. Join me on the video and post a message on your big goal for the year.
Keep shining brightly,