Researching the marketplace is where the majority of price per head bookie entrepreneurs begins and finishes their preparation for a given negotiation.
Your actual marketplace is your line of business. In your case, sports betting and casino services.
Price per Head Bookie: Gathering Data
If you want to increase your power as price per head bookie and have an edge when you do business, the best way to do so is to be prepared.
Sure, you may be full of self-confidence, but you can’t base your negotiation strategies on that factor alone.
In order to be really successful, you need to appreciate the value of extra time and effort on thorough preparation.
Maybe, for you, continuous preparation is synonymous with dullness, but that doesn’t have to be the case.
In fact, you can’t ever be too prepared, so this is definitely an ongoing professional challenge, in which the top bookmaker with the most marketplace knowledge wins.
Browsing the Web
In order to research your marketplace, the best place to get started is the internet.
Avoid sticking only to the information that you get from Google. Instead, try other search engines and see what kind of results you get from the same keywords.
Chances are that you are going to get a number of different extra valuable options.
With that said, it is important that you don’t believe everything that you read on the web.
The internet is like a blank canvas: anybody can put anything there. So, it is important to analyze the kind of results that you get, and from where you are getting them.
Remember: The source is just as valuable as the information itself!
Shopping the Competition
In order to educate yourself about what is currently going on with the bookmaking and casino marketplaces, you can check on what your competitors or investors are doing.
Indeed, the more you know about what other people in the industry is doing, the better you will feel with the decisions you will take related to your sports betting and gaming operation.
There is nothing like getting information directly from consumer reports. If you really want to know how bettors and investors are currently behaving, you can visit consumerreports.org
Once there, you can get a monthly subscription for a small fee, which will allow you to get access to outstanding specific articles that can help you become a more informed price per head bookie.
Playing Detective, Evaluating Data
When you sit at a negotiation table, it is important that you know more about the subject to be discussed than the other party.
The more knowledge you have, the more confident you will be as a price per head bookie.
However, try to avoid appearing as an authority figure in the room.
Don’t rush anything, and explain your ideas as clearly as possible in order to get the kind of results that you want to obtain from the negotiation.
The Mystery of Value
A good way to proceed when preparing for a negotiation is to pretend that you are trying to solve the mystery of value.
What are your price per head bookie services really worth? If you want to know it, begin with these 2 key facts:
- Value is in the eye of the beholder: When you are done researching your marketplace, only you can tell what the value is your bookmaking and casino services holds for you.
- The information that comes from experts in the form of price surveys and other reports allows insiders to know what is going on in the marketplace.
Different Points of Views
As you gather information from your marketplace that can become valuable for future business negotiations, remember that everybody has a different point of view.
Doubtless, you will find that people within the sports betting and gaming industries have opinions that can vary from yours.
So, when you talk to a prospective client or investor, try to see things from the other party’s perspective.
This allows you to have a better chance of putting something in the negotiation table that is going to be interesting for the other person, and that can also benefit you as a price per head bookie.