Bad Economy? What 1 of the 3 casinos doesn't know
It is amazing how headlines contradict themselves. I wrote about this in my article/white paper "You're Not Running a Vineyard So Stop Your Whining" exposing the bad excuses people give for not having profit increases.
Now we see headlines that revenues are down at the Greektown and Motor City Casinos. Why? According to the casinos the decreases are due to the poor economy.
Give me a break!!! The same day the MGM Grand reported a 27 percent increase in revenues. Is the economy on the Lodge that much better?
No! Greektown and Motor City are making excuses for their lack of ability to compete in a down economy.
How about you? If you honestly believe the Michigan economy is preventing you from growing your business you have a problem and need to seek immediate help. If you are looking at the current economy as your chance of a lifetime to grow exponentially, then you will be a success.
Why not take a moment and share a success story about how you have been able to grow in this fabulous Michigan economy?
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I totally agree Rick... any person/business must put in more efforts now to compete, compared to 10 years ago. Just like the Olympics, the world records and best times are always getting better. So you need to be better.
The question is what are you doing to make it better ?
I met with a new client yesterday (& acquired the project as well !), who wanted a new web site. He is in the Mortgage business.
The point is he accepts that the business is slow several percent lower than few years ago but still he wants to invest in a new strategic website so that they will Maximized the profits and their success even if the over all scenario is not great compared to few years ago.
Its almost like the pie got smaller but what can you do to get a bigger slice of the smaller pie ?
I am glad my client realized that, believed in DotSign and let us do that strategic tool that will help him be more successful.
Bottom line "No Input = No Output". Make a strategic move that will set you closer to your success.
Wishing you Success
Henry Joshua
www.dot-sign.com
Good story Henry. This mortgage guy is making the right move by taking the time now to position himself for the future. He should not accept it as fact that business will be done because if that is his reality he will succeed in his reality and his business will be down.
Here is something to think about with the pie comparison: Not only is the pie smaller, it is feeding fewer people. Many motgage people have left the business or left the state.
When your new "mortgage dude" customer has his website up it will be like he has another fork to stick into the pie. It can easily help him increase his business now - - - which will lead to customer referrals and loyalties when things turn around.
Make a positive impact today,
Rick
Being an avid poker player - with a distinct dislike for MGM I find this a quite interesting topic.
Advertise, Advertise, Advertise... All that advertising and hype around the MGM Reopening I am not surprised they have increased revenue. The question I might ask is are they going to be able to sustain that revenue. Most likely, they will - they have some uniqueness the other two do not. Examples of these being, the food court style cafeteria inside the casino, the self service computer comp stations, and their nightclubs (I swear they were advertising they had 6 - though I have never been in any one of them).
Currently, Greektown (still under construction, the only one who has not finished their hotel) has no nightclubs, you have to go to the desk to get your comps and you pretty much have to exit the casino to get real food (something other than hot dogs, chips and other snacks). Construction issues on the roads around it make me avoid it.
MotorCity (still under construction) just started advertising their restaurant, I am not sure if they have any nightclubs. I haven't had the chance yet to check it out. They have self service beverages unlike the other two casinos, you don't have to wait for a waitress you can go right up and serve yourself. The poker room has self service sandwiches, breads, chips, snacks... and you can eat at the table. Recently, Greektown started a new policy of not allowing them to eat at the tables.
Greektown and MotorCity are at a disadvantage, whether it's because of poor marketing or bad choice in internal casino features.
Good points Vicki. As you point out the economy does not have anything to do with the downturn in revenue. The revenue downturn is strictly a result of bad business decisions (marketing, product offering, etc).
The point of this message stream is simple:
IF WE ALLOW THE MEDIA TO CONVINCE US WE CAN BLAME THE ECONOMY FOR OUR LACK OF MEETING BUSINESS GOALS WE ARE SETTING OURSELVES UP FOR DEFEAT!
One of our biggest successes at Max Impact has been to reach beyond the Michigan to build our '06 and '07 business. This provided a base and cash flow that has allowed us to spend more time focusing on the businesses and business sectors that see the unique opportunities provided by today's economy. We are proud that, in answer to Henry's point, our work has lead to job security at two second-teir autmotive companies, the addition of a hundred jobs at a manufacturing plant (transferred from a plant that did not with us and their results showed it), and we are now on two projects with the potential of major job growth.
ALL BECAUSE WE IGNORED THE DOOM AND GLOOM PROPHETS!