Pricing A Theme Park For Profit

If you’re a regular around here, you’d know by now that I don’t know the first technical thing about phone systems – In know how to market and sell them, but that’s where it ends. 

And boy was this emphasised a few years back – after spending 3 or 4 days sitting through presentation after presentation at the Alcatel-Lucent global conference in Paris, France.

I’d been flown over by the Australian Distributor, due to the amount of units my company Infiniti Telecommunications was moving at the time, which was a great honor. And except for the keynote presentation from James Surowiecki, author of The Wisdom of Crowds, everything that was said at the english speaking conference, may has well been in French.

As soon as the conference ended, and I had a spare day or two, I couldn’t wait to jump on a train and hit up EuroDisney.

I’ve always had a fascination with amusement parks, and try and visit DisneyLand or Universal Studios each time I’m in LA for an extended period of time… so spending the day unwinding, and dealing with stuff more on my intellectual level was a welcomed relief from the onramp 10 port mix board conversations I’d been thrown into at the conference.

So when I came across this fantastic cases-study by Peter Hill, author of Pricing for Profit: How to Develop a Powerful Pricing Strategy for your Business on the work he did with Dr Fun’s Amusement Park, I had to republish it here. It’s a great real world look, at a number of pricing for profit strategies, implemented successfully in a UK theme park Peter worked with.

Enjoy…

Floating + Rotating Single Advert WordPress Plugin

This is just a small WordPress plugin I found down the back of the couch, along with a two dollar coin, and an old Hilton Hotels pen I got at some conference two years ago. Before we gave PreneurMarketing.com here a full facelift, I had one of our developers work on a really simple WordPress plugin we were going to activate on the old site. Unfortunately, we never got around to using it, so here it is, for you use on your WordPress site(s). What Does The Floating Ad Plugin Do? It’s a very simple plugin, that allows you to

How You Can Charge More When You Guarantee Value

When times are tough, and the pressure is on to perform, the instinct for a lot of businesses unfamiliar with the 7  Levers of Business,  may be to drop your pants and discount, price check to undercut the competition, or just promote through price and price alone. Yet these are often the last things businesses should be doing. As we talk about a lot here, there are 7 key drivers of profit for a business, with pricing being just one.  In fact if you drop your prices by 10%, you better hope it increases your conversion rate by 12% – as that is what

Harnessing the Power of Word of Mouth

I don’t think it’s any secret that I am a lover & purveyor of top shelf direct marketing, heck it’s the been the backbone to almost every business or project I’ve been involved with.

None the less, the fact remains that 92 percent of people trust recommendations from friends & family more than all other forms of marketing.

In the same study, Nielsen’s Global Trust in Advertising Survey, of more than 28,000 Internet respondents in 56 countries shows that while nearly half of consumers around the world say they trust television (47%), magazine (47%) and newspaper ads (46%), confidence declined by 24 percent, 20 percent and 25 percent, respectively, between 2009 and 2011.

This is a big issue for traditional advertisers, and just one reason why it’s critical to have some sort of ‘word of mouth marketing’ strategy in place.

That’s why I reached out to Paul Rand, author of Highly Recommended: Harnessing the Power of Word of Mouth and Social Media to Build Your Brand and Your Business to share his word of mouth experience with “Disneyland of Diary”

Xero Personal Alternatives

“we reviewed the resources involved in developing and supporting Xero Personal compared with putting this resource into our business offerings” is what Rod Dury said in a blog post announcing the winding down of my favourite personal finance software Xero Personal.

My initial reaction was of upset, especially as I saw them wasting money (read: resources) on ridiculous street posters around Melbourne such as:

Xero_Street_Poster_Billboard

Seriously, did any of these generate a visitor, let a long a new business subscriber ?

Anyway, who am I to sit here and throw stones, their stock price is up over 200%+ in the past year. Clearly they are doing something right!

Update November 28, 2013: I was wrong… according to a tweet from Rod Drury, Xero’s CEO: “Actually local campaign has performed very well. Not a natural thing for us to do so monitored closely” Intriging! We’re going to have someone from the Xero team on the marketing podcast very soon to reveal all.

In any case, I’m a big fan of their software, and not only use(d) Xero Personal, but we also use their core business offering in a number of entities I’m involved with.

So what to do with my personal financial book keeping with the end of Xero Personal coming up… Well, I turned to a previous PreneurCast Podcast guest  Heather Smith, who since our conversation authored  Xero For Dummies. 

She offer some great advice, which I asked her to turn into a guest post we can all to benefit from:


The Best Entrepreneurial Interview That Wasn’t ….

So it’s the morning of the 2013 Academy Awards… I’d left my wife and 3 week old son back in Australia, and here I am (a few hours away from partying with Heidi Klum at Elton Johns Oscars party) setting out a run in the Malibu Creek State Park.

It was a beautiful morning for a run with Rich Roll, and fellow Australian Osher Gunsberg. Rich and I had stuck up a bit of an internet friendship since he was on the podcast, and Osher I had just met that morning in the car park.

For those who don’t know, Osher, formally known as Andrew G, is one of Australia’s answers to Ryan Seacrest. (Actually, that morning in the car park, I referred to Dan McPherson, as Australia’s Ryan Seacrest. Dan another fellow Aussie and TV personality, bailed on the run that morning due to a few “niggles” he had – something else we had to explain to Rich.)

To his credit though, Osher, the superstar that he is, didn’t seem to sweat the oversight I made when leaving him out of the Seacrest comparison… and few weeks after the run, which surprisingly to me passed the old M*A*S*H film site, Osher and I kept in touch, and he kindly offered up some of his time to help me sharpen my interviewing skills via a Skype call for an upcoming project or two I have in the works.

Malibu_Creek_State_Park

Fast forward a few months, and Osher has launched his very own podcast, which you can subscribe to on iTunes here.

… and this is where this all comes together.

Making The Most From Playing Cashflow 101 [Workbook]

I think we’d played the game together maybe a total of maybe 4 times, when he first beat me.

It was a blow to the ego, but seeing my 17 year old godson Conner, grasp the concepts of “how to make your money work for you, not the other way around”, eased the pain (slightly)

For those not familiar with the board game by Robert Kiyosaki (author of the widely successful Rich Dad, Poor Dad) there are two stages to the game play, but first you have to take on the persona, and financial situation, of a Truck Driver, Mechanic, Lawyer, Airline Pilot, etc.

In the first stage of play, referred to as “the rat race“, the aim is to raise your passive income level to where it exceeds the character’s expenses. The winner is determined in the second stage of the game, “the fast track”. To win, a player must get his or her character to buy their “dream” or accumulate an additional $50,000 in monthly cash flow, whilst avoiding lawsuits, divorce or tax audits.

The heart of the game though are the player sheets where players learn how to fill out a financial statement. These financial statements, take the place of traditional “score cards”. As you land on cards and invest in different deals, you must log each change, so that you can see more clearly what is happening with your money. In essence, through the game play and cashflow management it shows how assets generate income, and how liabilities and ‘doodads’ are expenses.

Now following on from my recent post sharing the house rules for cashflow 101 we use, I asked Philippines based Ronald Cagape of LivingCashflow101.com, to put together this guest essay and share the companion workbook to Cashflow 101 he put together.

I don’t know of anyone, who in the past 5 or 6 years, would have facilitated more games of Cashflow 101 than Ronald… and although his style is a little different to what you usually get here, the observations he writes below are absolutely worth testing out as you play the game.

Core vs Mechanics Productivity Tracker

The Core vs Mechanics Tracker is a “gamified” daily planning sheet designed to keep you on track during your Core Focus Time [CFT] Sessions.

Each and every day you give yourself points based on the type of tasks and actions completed during your CFT’s, and the tracker helps you measure your progress – and build the momentum every entrepreneur needs.

CoreVsMechanicsTrackerGraphic

Cashflow 101 Board Game House Rules

When I was 18 and at university, most of the guys my age were all about beer pong, surfing, and the ladies. Sure, I thought that stuff was cool, especially the ladies. But on Tuesday nights when my buddies were out (partying), I was getting my nerd on and playing Robert Kiyosaki’s boardgame, Cashflow 101.

Every week, I’d get together with a bunch of older guys (mid-twenties, right through to early forties) to battle it out to see who could “escape the rate race,” and buy our dream before lawsuits, divorce or tax audits sucked up all our cashflow.

I can’t even remember how we all got together, as we were a very mixed bunch. But  learning basic financial strategies and accounting principles through a boardgame, with a property developer, “very early” dot-com startup entrepreneur, church pastor, elite athlete and a full-time stock market trader, was an amazing experience for a wanna-be-entrepreneur like me.

Although I haven’t kept in contact with any of these guys, except for the odd Facebook stalk, those nights are actually some of my fondest memories (I can remember) of my university years.

.. and just recently, I’ve got back into the game, teaching my 17-year-old godson Conner to play when he comes to hang out at my place during school holidays.

He’s caught on really, really quickly, often beating me!

So we’ve started to tweak the rules of the game a little, just like we did in my uni days, to make sure the gameplay stays fresh, more educational and ever so harder.

Below is a complete collection of the ‘House Rules‘ we’re using, the ‘Additional Rules‘ we used back in the uni playing days, and some ‘Optional Rules‘ I’ve seen and noted over the years.

about-pete
Pete Williams is an entrepreneur, author, and marketer from Melbourne, Australia.

Before being honored “Australia’s Richard Branson” in media publications all over the continent, Pete was just 21 years old when he sold Australia’s version of Yankee Stadium, The Melbourne Cricket Ground For Under $500! Don’t believe it? You will! Check out the story in the FAQ section (it really is our most asked question).

Since then, he’s done some cool stuff like write the international smash hit ‘How to Turn Your Million-Dollar Idea Into a Reality’ (+ the upcoming ‘It’s Not About the Product‘) and he’s created a bunch of companies including Infiniti Telecommunications, On Hold Advertising, Simply Headsets and Preneur Group.

Lots of other people think he’s pretty good too! He’s been announced as the Global Runner-Up in the JCI Creative Young Entrepreneur Awards for 2009, the Southern Region Finalist in the Ernst & Young 2010 Entrepreneur of the Year, and a member of SmartCompany’s Top 30 Under 30.

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