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Monthly Archives: April 2016

Pay per Head Bookie: Your Money Plan

Pay per Head Bookie: Your Money Plan

Pay per Head Bookie: Your Money Plan

Running a pay per head bookie business requires you to work with a money plan.

First, you must become aware of your current financial situation. Then, you need to create the money plan for your sportsbook and casino business, and finally, you need to take action on it.

As the head of your own pay per head bookie business, you are not only the CEO, but also the CFO, or chief financial officer, and it depends on you to keep the financial situation of your sports betting and gaming business healthy.

Remember, you really cannot fix what is unknown to you, so you definitely need to push yourself to become a pro when it comes to handling your cash.

The more you know about finances, the easier it will be for you to spot unwanted situations, to then apply the proper solutions to them.

 

Pay per Head Bookie: Creating a Balance Spreadsheet

 

Even if you feel that your pay per head bookie business is doing well without properly keeping track of your finances, to work with a balance spreadsheet is definitely going to make your life (and those of your direct, and indirect employees) easier.

It may be the case that you perceive that your betting and gaming operation is fine, but in reality your finances may not be as well you believe they are.

Maybe you are spending more than you are earning, and on the long-run, this could seriously affect your aspirations to become a successful pay per head bookie.

This is because all the money that you are making is leaving your pockets right away instead of going to your bank account, as it should be.

So, creating, and keeping a balance spreadsheet up to date will help you to make more rational financial decisions, and see the big picture.

With that said, a person that runs a sportsbook and casino operation without using a money plan is doubtless rushing blindly towards failure.

On the other hand, someone that uses a financial spreadsheet to run his pay per head bookie business is creating a clear roadmap to success (and this is who you really want to be)

Tools for your Money Plan

An awesome free tool that is recommended by financial experts from all over the glove is mint.com, which allows you to track expenses and really know where your money is moving to.

If you are a bit more computer-savvy, then another great solution is to create your own balance spreadsheet using microsoft excel or google sheets (of course if you don’t have the expertise, you can always get someone to assist you with this).

Get professional about it! This means that you need to forget about the idea of creating a balance sheet for your pay per head bookie business with pen and paper as this will be more time-consuming, difficult to track, and you run the risk of spoiling your sheet by throwing liquids on it, or you can also misplace it, for example.

Pay per Head Bookie: Think Big, Believe in Yourself

Pay per Head Bookie: Think Big, Believe in Yourself

If you want to start a pay per head bookie business and become wealthy, then you need to think like the rich do.

By thinking big and increasing your inner confidence, you can obtain the best results for your sportsbook and casino company.

 

Pay per Head Bookie: Believe in Yourself

 

If you don’t possess enough conviction related to what you are doing as a sports betting and casino services provider, then you are destined to fail, because after all, if you don’t believe in yourself, who will?

Closing on a new large client, for example, is something that can only happen if you believe in your potential to be a successful closer.

On the other hand, if you approach someone while fighting some self-trust issues, you won’t have the necessary confidence to express yourself the right way, and this will make it almost impossible for you to close a sale.

What’s best, when you believe in yourself, others will take notice of this, and they will also start believing in you, and in your pay per head bookie company.

You really have to own your own story, believe in a successful future, and be more responsible, especially with the consequences of the actions from your past.

Even though the circumstances may not be the best for you right now, such as being in debt, you still need to develop a positive mindset, and avoid letting any challenges to stop you from keeping on moving in the right direction.

The experiences that you have accumulated play a big part in who you currently are, but you can always chose to see only the negative or the positive, and by choosing the latter, it will be easier for you to overcome any obstacles that stands in your way.

It is common for wealthy individuals to use their failures as lessons. For them, it is not about if you can or can’t, it is mostly about whether you will or won’t act.

If you truly believe that you can achieve something related to your pay per head bookie business, then chances are that you will achieve it!

On the other hand, if you believe that you can’t, you are burying your own possibilities, and it is likely that you won’t achieve what you wanted to achieve.

In order to start changing things for the better, you can begin by using visualization in order to start attracting more positive circumstances to your life and to your bookmaking operation.

If you think like a rich individual, believe in yourself, and expect only the best,  doubtless you are going to get the kind of results that you want to achieve for your pay per head bookie and casino business.

Sports Betting Bookie: Finding a Mentor for your Business

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Mentors can have an outstanding positive impact on new sports betting bookie companies.

They count with influential connections that can open a lot of doors for your bookmaking business.

And their experiences are very valuable as they can serve as examples of the things that you should, or should not do.

With that said, finding the right mentor for your sports betting bookie business is not as simple as picking a random name from a box.

In order to choose the right individual to be your mentor, you must be able to tell what makes a great one; how to approach this person, and then you must also be able to find ways to maximize the relationship.

 

Sports Betting Bookie: Steps to Find the Right Mentor

 

Here are the three main steps that you can take in order to find an experienced mentor that can help you take your sportsbook business to the next level.

Recognizing What Makes a Great Mentor

The most qualified mentors are the ones who aren’t afraid of asking tough questions with the goal of challenging you to exceed your own expectations.

In the process, they will share their own experiences, and will also help you to spot new opportunities that you wouldn’t have noticed on your own.

The best mentors are also those who are aware of their position as advisors, and they understand that it is you the one running your sports betting bookie company, and not them.

The “mentors” that make the mistake of telling betting and gaming entrepreneurs exactly what they need to do, and who get upset when their instructions aren’t followed, are the ones that end up causing more damage than the good they bring to the mix.

Find a Good Fit

Although there are many good mentors out there, there are a selected few who are more appropriate to help you than others.

Your best bet is to examine your local network in order to find individuals that can be considered exceptionally qualified mentors.

In order to establish a connection with the right person, you can start with a short email where you detail what your sports betting bookie company is all about, and the reason (s) why you would like to bring in such individual as a mentor for your business.

On that first email, avoid requesting a person-to-person meeting because it may be the case that the mentor that you have spotted is not very extroverted, and asking for a meeting right away can push such individual to say no to your mentorship request.

Instead, try to build up to that first meeting by sending emails back and forth. In those emails you should add information that can be considered thought-provoking, and that demonstrates that you are making progress on your own.

Maximize the Mentor Relationship

Once a proper connection (of mutual interest) has been established, it is important to start building up on that relationship.

Make sure that you are always in contact with your mentor, either by phone or by email. Let the person know how your sports betting bookie business is currently doing, and don’t forget to request their input at the same time.

Sports Betting Bookie: 5 Key Marketing Questions

sports-betting-bookie-marketing-questions

Marketing is definitely what keeps alive any sports betting bookie business, small or large.

Marketing is the driving force behind sales, allowing you to count with the cash flow that you need to remain active as a bookmaking agent.

When it comes to marketing, there is only a small difference between a big business and a small one: the sports betting bookie that owns a small wagering operation is likely to not have the funds to take on a massive marketing campaign.

The good news for the small sportsbook business owner is that with some thought and effort, beating the big guys at the marketing game is not impossible.

And one of the main reasons why is because as a sports betting bookie that runs a small bookmaking operation, you have acquired a good understanding of what players really want, and what your competitors are doing to try to beat you.

Being small is also advantageous because it is easier for the sports betting bookie to take quick, effective decisions.

 

Sports Betting Bookie: 5 Key Questions

 

With the above information in mind, let’s have a look at five key questions that will clear your thoughts and send you in the right direction when it comes to marketing your small sports betting bookie business.

What Do You Want?

There are a lot of reasons why people may want to start their own betting and gaming operations: they may want to become their own bosses, they may want to spend more time at home to be with the family, etc.

Whatever the reason may be, in order to attain success it is necessary for you to know where you really want to go with your wagering operation.

Indeed, you must possess a vision that can help you dictate how to market your business in a better way.

Where Are You Willing To Go?

As a sports betting bookie entrepreneur, what lengths are you willing to go in order to close a sale? What is the image that you want to present to current and prospective clients?

Essentially, we are talking about values. Each company out there operates with a certain number of values, and as the owner of your own sports betting bookie operation, you need to make sure what the professional values of your company are.

If you are wondering what this has to do with marketing, the answer is a lot.

For example you may be willing to lie about what your actual services are in order to help a prospective client make his mind.

However, it is important to recall that your customers are not dumb, and when your offerings doesn’t match their expectations, then you will start losing credibility, and at the end, their business too.

Who Are You Going To Tell?

Who are the individuals that want what you are selling? If you are planning to tell all the people that you know, or believe that are fond of betting and gaming, then think again.

For a start, you are going to be running a small sports betting bookie operation, so chances are that you won’t be able to satisfy the needs of a massive number of clients,

Second, you need to remove the wrong sort of customer from the equation in order to focus your marketing efforts only on your ideal type of clientele.

What Are You Going To Tell Them?

What are the messages that you are planning to communicate to your clients?

Whatever those messages are, you need to be consistent with them. Otherwise current and prospective customers of your sports betting bookie operation may not be sure about what you are actually offering to them, and as a result of this, it will also be difficult for you to figure out what is it that players are expecting.

How Are You Going To Say It?

The channels that you use to communicate your message to your targeted audience are also very important, however, as the owner of a small bookmaking operation that runs with a budget, your best chance to send out your message to prospective clients is the internet.

You can own, and operate your own sports betting bookie website, and with time, you will realize just how value a web portal is as a marketing too.