28 {{ upvoteCount | shortNum }}
28 {{ upvoteCount | shortNum }}

How Does this Analogy Relate to Your IM Business?

by E. Brian Rose
22 replies
A poker room manager needs to decide a cap on table limits, so he does not burn out his room. This manager did not use his head.

He had ten regulars that want to up the limits from 4-8 to 10-20. The game lasts several hours and the house makes a good rake. The problem is ten of his regular customers that show up everyday with their single hundred dollar bill blew a week's worth of buyins in the bigger game.

Now those players that he counted on to keep games going don't show up for a while and he has trouble starting new games for a few days. When those players finally get money to play again, they play somewhere else, because they have a bad taste in their mouth about the huge loss they took the last time they played in his room.

How can this story relate to your business as an Internet marketer?
#analogy #figure
  • Profile picture of the author Jacqueline Smith
    Every customer counts.....no matter how much or how little they spend.....they each play a role in the success of your business.

    Bottom line.....always look at the big picture.
    Signature
    Momdipity.com
    {{ DiscussionBoard.errors[6536784].message }}
    • Profile picture of the author E. Brian Rose
      Originally Posted by Jacqueline Smith View Post

      Every customer counts.....no matter how much or how little they spend.....they each play a role in the success of your business.

      Bottom line.....always look at the big picture.
      Not the answer I was looking for, but good thoughts.

      Anybody else know what the lesson is here?
      Signature

      Founder of JVZoo. All around good guy :)

      {{ DiscussionBoard.errors[6536817].message }}
      • Profile picture of the author David Keith
        Originally Posted by E. Brian Rose View Post

        Not the answer I was looking for, but good thoughts.

        Anybody else know what the lesson is here?
        well, I will be honest, I don't see the obvious answer. Maybe I should have stopped at 2 margaritas for lunch...lesson learned on that.

        The only thing I can think of in my altered state is..."don't burn the list".

        If you try to milk every last dollar out of people too fast, they will end up with a negative view of you and move on to seek the advice they need from someone else.
        Signature
        Just a Little War Room Gift.
        {{ DiscussionBoard.errors[6536851].message }}
        • Profile picture of the author E. Brian Rose
          Originally Posted by David Keith View Post

          well, I will be honest, I don't see the obvious answer. Maybe I should have stopped at 2 margaritas for lunch...lesson learned on that.

          The only thing I can think of in my altered state is..."don't burn the list".

          If you try to milk every last dollar out of people too fast, they will end up with a negative view of you and move on to seek the advice they need from someone else.
          Ding Ding. We have a winner. Maybe you should keep drinking. Who knows, maybe you will cure cancer after your seventh or eighth margarita!

          There are a few other lessons hidden inside, so keep the posts coming.
          Signature

          Founder of JVZoo. All around good guy :)

          {{ DiscussionBoard.errors[6536862].message }}
        • Profile picture of the author Jacqueline Smith
          Originally Posted by David Keith View Post

          well, I will be honest, I don't see the obvious answer. Maybe I should have stopped at 2 margaritas for lunch...lesson learned on that.

          The only thing I can think of in my altered state is..."don't burn the list".

          If you try to milk every last dollar out of people too fast, they will end up with a negative view of you and move on to seek the advice they need from someone else.

          Dang.....I knew I should have just kept drinking at lunch!
          Signature
          Momdipity.com
          {{ DiscussionBoard.errors[6536875].message }}
  • Profile picture of the author Jacqueline Smith
    You mean there's a right and wrong answer?!?!?!?

    You didn't mention that! I wouldn't have played had I known!

    There might be a specific lesson to be learned, but my guess is that there are several lessons to be learned.

    It's going to be interesting to watch this thread and see what everyone comes up with.
    Signature
    Momdipity.com
    {{ DiscussionBoard.errors[6536863].message }}
  • Profile picture of the author David Keith
    What the hell, I will play again. I am feeling lucky.

    2nd lesson - Most businesses are built on a core group of customers. Without that core group its hard to build a business.

    We all want more customers. But when you look at the numbers of most businesses, a good percentage of their sales and income comes from a relatively small group.

    Without the core group of power sellers and super affiliates at JVzoo, many of the smaller sellers and affiliates would have never come to the place at all.
    Signature
    Just a Little War Room Gift.
    {{ DiscussionBoard.errors[6536908].message }}
  • Profile picture of the author E. Brian Rose
    David, did you have another drink or what?
    Signature

    Founder of JVZoo. All around good guy :)

    {{ DiscussionBoard.errors[6536923].message }}
    • Profile picture of the author David Keith
      Originally Posted by E. Brian Rose View Post

      David, did you have another drink or what?
      Lets just say it's not my first time marketing while being a little under the influence. I just have to sit closer to the screen since things are fuzzy. And no AR broadcasts...learned that.
      Signature
      Just a Little War Room Gift.
      {{ DiscussionBoard.errors[6536951].message }}
      • Profile picture of the author fin
        Originally Posted by David Keith View Post

        Lets just say it's not my first time marketing while being a little under the influence. I just have to sit closer to the screen since things are fuzzy. And no AR broadcasts...learned that.
        Think drunk; implement sober.
        {{ DiscussionBoard.errors[6537030].message }}
      • Profile picture of the author JimDucharme
        Originally Posted by David Keith View Post

        Lets just say it's not my first time marketing while being a little under the influence. I just have to sit closer to the screen since things are fuzzy. And no AR broadcasts...learned that.
        David has the scary ability to think straight and talk straighter. I've learned to listen to him even if he's slurring his words.

        Putting the time into building good relationships isn't easy. Everyone wants to wack that pinata, but put the stick down and take off the blindfold so you can (as pointed out) see the bigger picture.

        Regards,
        jim
        {{ DiscussionBoard.errors[6540587].message }}
  • Profile picture of the author louie6925
    My simple answer would of been to look after your customers! .........true, they won't come back if they have been left with a bad taste in their mouth, and as a business providing a service for a customer it should be paramount that YOUR customer should never be given the chance to have a bad taste in their mouth in the first place! As a business owner you have the power to make sure it doesn't happen!
    Signature
    Feel free to chat if you live in the UK I may have something for you!
    {{ DiscussionBoard.errors[6536938].message }}
  • Profile picture of the author Jacqueline Smith
    Okay David......it's "last call" somewhere in the world!

    Put your hand down and go sit in the back of the class!
    Signature
    Momdipity.com
    {{ DiscussionBoard.errors[6536956].message }}
    • Profile picture of the author cjreynolds
      Originally Posted by Jacqueline Smith View Post

      .....it's "last call" somewhere in the world!
      ...Yah, but it's also "happy hour" somewhere else!
      Signature

      I just added this sig so I can refer to it in my posts...

      {{ DiscussionBoard.errors[6543338].message }}
  • Profile picture of the author Big Al
    The problem is ten of his regular customers that show up everyday with their single hundred dollar bill blew a week's worth of buyins in the bigger game.
    When those players finally get money to play again, they play somewhere else, because they have a bad taste in their mouth about the huge loss they took the last time they played in your room.
    I'm thinking we're all dreaming of the big wins that come with big losses... the type that leave a bad taste in your mouth and wasted time in between, while you're recovering.

    When maybe we should be looking for small consistent wins, stealing a yard here and there... then investing a few extra dollars in a big game now and then.

    That goes for the poker player/student and the manager/mentor.
    Signature

    {{ DiscussionBoard.errors[6539453].message }}
  • Profile picture of the author Marx Vergel Melencio
    Hi Brian,

    Originally Posted by E. Brian Rose View Post

    How can this story relate to your business as an Internet marketer?
    I encountered a similar situation in 2010, when my company, from 2005 to 2010, only focused on providing services to a handful of large multinational corporations in North America and the EU. When the global crisis sent economies spiralling down, especially in 2010, some of our corporate clients reduced the business they regularly sent our way by more than 60%, since they needed to help their own economies by providing jobs to locals who lost their jobs. What did I do?

    After a month, I established a new department of my company. This new department focuses (up to this day) on providing our services to individual Internet marketers, home businesses, small to mid-scale businesses and companies in North America, the EU and Asia. Our rates in this department is quite relatively reasonable for the budgets of this clientele group, considering our rates in our other department that (up to this day) focuses on providing our services to large multinational corporations in North America and the EU. This has been working well for us and for our two clientele networks, primarily because I believe each department guarantees that the exact needs and requirements of each clientele network are well taken care of, and especially since service offers, systems and processes are customized for the exact needs and required results of our two clientele networks. Plus, no client gets reduced quality services, even if they pay reduced rates (our second clientele network), especially since our first clientele network is more than willing to pay higher rates (because those "higher rates" are in fact lower rates than what they'll pay if they hired inhouse employees)...
    Signature
    • Deep Learning & Machine Vision Engineer: ARIA Research (Sydney, AU)
    • Founder: Grayscale (Manila, PH) & SEO Campaign Manager: Kiteworks, Inc. (SF, US)
    {{ DiscussionBoard.errors[6539700].message }}
  • Profile picture of the author Mike Hlatky
    A single $100 bill to play 4-8? I don't think so
    {{ DiscussionBoard.errors[6540470].message }}
    • Profile picture of the author E. Brian Rose
      Originally Posted by Mike Hlatky View Post

      A single $100 bill to play 4-8? I don't think so
      It was a 1-4-8-8 limit game. The story was not about a no-limit game. $100 is the standard buy-in for that game.
      Signature

      Founder of JVZoo. All around good guy :)

      {{ DiscussionBoard.errors[6541929].message }}
  • Profile picture of the author MikeLogan
    Another take might be to only offer products that convert. If you get a few people to mail for you, and the conversions stink, those folks will be less likely to mail for you in the future.
    {{ DiscussionBoard.errors[6542555].message }}
  • Profile picture of the author HiTom
    Can't he manager has another table for his regular players? Sorry I don't know much about poker, but the ones who play big go on table #1, the one who play small go on table #2.

    For a business, would it be diversification?
    {{ DiscussionBoard.errors[6542845].message }}
  • Profile picture of the author Luke McCormack
    Be consistent with your customers on all levels, whether that be:

    1. Quality of product
    2. Product price I.e. price similar products consistently
    3. Email style and frequency
    4. Quality of others adswap products or affiliate offers

    Trust is hard earned and can be lost in the blink of an eye
    Signature
    {{ DiscussionBoard.errors[6543302].message }}

Trending Topics