Geolover.com blog

I was in Las Vegas last weekend. It`s amazing how this small town turned into a mega tourist cash cow. About a 100 years ago there was only an oasis. First hotel and casino was built in beginning of the 20th century. Then about 40 years later they started to build “The Strip“. In now days Nineteen of the world’s twenty-five largest hotels by room count are on the Strip, with a total of over 67,000 rooms.

They have a simple business modell. For your money hotels and casinos will do anything to entertain you. They even built famous tourist places. So you don’t have to travel for example to Paris to see the Eiffel tower.  You just go into Paris hotel on the strip and for a small fee you can go up on top of the “plastic version” of the tower. And best part is that after this new experience you will find yourself in the casino where you can continue spending your money.

Las Vegas can teach you an easy lesson: Make your costumers happy create them new experinces and they willing to pay money.  I think that every startup should think the same way. Create a product which will make costumers happy and charge for it. And it dosen’t have to be a direct charge. It can be indirect by selling products or services.  Most of the startups fail because they don’t have income becuase in the beginnig they didn’t plan how they will make money. So if you want to make money after product lunch you should start charging as soon as you can. At the begining if you make only $1 a day can be a very good motivation to continue working on your product. Also it can be a proof that you built something useful.