Make business grow is one of the main challenges and goals that bookies have, to be able to do it in the most efficient and effective way, bookies have to be aware of the stage of maturity of their betting business within the business life cycle. By knowing in which stage of maturity is the business, bookies can create better strategies to make the business grow in the best way.
Below we present the different stages of the business life cycle and the strategies that can be applied in each one of them.
Stage 0 - Startup
All bookies go through this stage, this includes all the initial actions to establish and start up the business. Some experts say that this stage ends when you reach a stable annual income of more than $ 250,000. During this stage, the bookie tends to be alone, so it has to perform various roles and tasks to keep the business afloat. In order to make the business grow at this stage, the bookie must have a good pay per head provider to make his life easier, remove workload and allow it to concentrate on marketing and acquiring new clients.
Stage 1 - The Jump
Overcoming the stage of a startup can take between 1 to 2 years depending on the level of dedication and commitment that the bookie has with the business. When he has an annual income between $ 250,000 and $ 500,000 we can say it has entered stage 1, at this stage it has a base of clients who bet regularly, the bookie already knows in depth the betting industry and in some cases even has support staff such as marketing experts to help him manage the business. At this stage, the best growth strategy is to expand through sub-agents that promote the betting site in other territories and can establish close relationships with new customers.
Stage 2 - Scale
This stage is the hardest to reach and maintain, annual revenues must range between $ 500,000 and $ 1,000,000. And the business must already be functioning as a structured company with the bookie performing a role of CEO. To grow in this stage the bookies must concentrate on growing the bankroll of the business in a way that allows them to accept large volumes of bets and also be able to deal with high rollers. As in this stage, the business is well established with the demonstrable income it will be easier to leverage financing through investors or other mechanisms.
So let’s start making money, join our team today, call our Toll Free Number now, 1-888-999-7841, visit our website www.abcperhead.com or send us an Email to [email protected]