Lesson #4: Keep Your Pulse on the Market
Lesson #4: Keep Your Pulse on the Market
Indeed, at the very heart of all the WWF’s activities are the fans – the people who keep coming back for more. McMahon has built his business based around those fans, determined to understand their wants – often, before they themselves even know what they want – and meet their demands. “Giving it to the audience is probably the easiest thing,” he says. “Finding out what they truly want is probably the most difficult.”
McMahon uses every wrestling match as a gauge to see how the public is reacting and to look for which direction to take the business in down the road. “You just don't know in this business,” he says. “You don't know who the fans will push and who they want.” But, what McMahon does know for sure, is that if he doesn’t listen to the fans, he won’t be around in business much longer. “We do have our finger on the pulse of the marketplace, if for no other reasons than having all these live events and listening to our audience all the time,” he says. “We love our fans, so there's nothing we wouldn't do for them, and we go directly to them.”
McMahon was not just a brilliant promoter – he was an innovator. He came up with ideas for his own business that would come to revolutionize the industry. And, he did it all through trying to understand what people would want to see. He didn’t create characters such as Stone Cold Steve Austin and Chyna, and involve them in exciting storylines just because he wanted to. Instead, McMahon understood that everyone likes a good story. If there were only a good story behind a wrestling match, then perhaps everyone would also come to like a good fight.
“I understand the common man because I understand me in that regard at least,” says McMahon, who would take his business cues from the daily reactions of fans. “The nice part about it is that we listen to our fans, and they're the ones who really decide who is ready to break through into that top echelon,” he says. “The worst sound in our business is silence. That means they don't care.”
McMahon knows that in running a billion dollar corporation, it is often easy for corporate executives to get lost in the offices and the boardrooms and lose that connection with the people. “When I see the lack of interaction and the egos of a lot of corporate executives, I want to break them down,” says McMahon. “That's a wrestling term for getting down to the ground. I want to bring them down to the ground and make them be with the people, so they're a foot from the sewer. I'd like to hold them there for a day or two, to be of the street. Keeping our nose to the ground is what we're about.”
Lesson 4 Keep Your Pulse on the Market
Like this article? Share it with your friends
“No one is as sensitive to public taste as us,” says McMahon. “We have our own focus group 200 times a year. We're about what people want.”
Indeed, at the very heart of all the WWF’s activities are the fans – the people who keep coming back for more. McMahon has built his business based around those fans, determined to understand their wants – often, before they themselves even know what they want – and meet their demands. “Giving it to the audience is probably the easiest thing,” he says. “Finding out what they truly want is probably the most difficult.”
McMahon uses every wrestling match as a gauge to see how the public is reacting and to look for which direction to take the business in down the road. “You just don't know in this business,” he says. “You don't know who the fans will push and who they want.” But, what McMahon does know for sure, is that if he doesn’t listen to the fans, he won’t be around in business much longer. “We do have our finger on the pulse of the marketplace, if for no other reasons than having all these live events and listening to our audience all the time,” he says. “We love our fans, so there's nothing we wouldn't do for them, and we go directly to them.”
McMahon was not just a brilliant promoter – he was an innovator. He came up with ideas for his own business that would come to revolutionize the industry. And, he did it all through trying to understand what people would want to see. He didn’t create characters such as Stone Cold Steve Austin and Chyna, and involve them in exciting storylines just because he wanted to. Instead, McMahon understood that everyone likes a good story. If there were only a good story behind a wrestling match, then perhaps everyone would also come to like a good fight.
“I understand the common man because I understand me in that regard at least,” says McMahon, who would take his business cues from the daily reactions of fans. “The nice part about it is that we listen to our fans, and they're the ones who really decide who is ready to break through into that top echelon,” he says. “The worst sound in our business is silence. That means they don't care.”
McMahon knows that in running a billion dollar corporation, it is often easy for corporate executives to get lost in the offices and the boardrooms and lose that connection with the people. “When I see the lack of interaction and the egos of a lot of corporate executives, I want to break them down,” says McMahon. “That's a wrestling term for getting down to the ground. I want to bring them down to the ground and make them be with the people, so they're a foot from the sewer. I'd like to hold them there for a day or two, to be of the street. Keeping our nose to the ground is what we're about.”
Lesson 4 Keep Your Pulse on the Market
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
|
 | ||
 |
||
 |
||
 |
||
 | ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
 |
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
 |
 Funding Worksheet Make Attitude Your Ally How To Double Your Business Why New Businesses Fail Future Networking |
|
 | ||
 |
Top 50 Franchising Blogs
Top 50 Franchising Blogs | |
 |
Guide To ERP Software
Business Management Software | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
