Organic growth strategies are all the rage nowadays, and I can tell you, from first hand experience, it ain't the easiest thing in the world to do..But, I'm getting better at it. With that said, I've got a creative approach to a business idea that I've been working on for some time, and I want to share it.
The summer of 2010 was an eventful one. I got divorced, lost my job, and for the most part? Couldn't do a damn thing right. Now, that was my intial thoughts at the time, but since then? My feelings have changed. Why? That's when this idea I'm going to describe, first popped into my head.
I've got an Asian buddy of mine in Las Vegas, by the name of Kam. Now, my friend Kam, is a very interesting guy. He was born in Hong Kong, and at the age of 10? His family migrated to San Francisco, where he spent the rest of his youth and part of his early adulthood. After that, Kam moved to the Chinatown section of NYC for a few years, and then found his way to Las Vegas some 20 years ago. I met him at a restaurant I use to work at. He was working at the Chinese joint adjacent to it. We started talking about ways to create some attention? What the possibe benefits could be? Things of that nature. At the time, our aim wasn't technical, it was tilted way more to the exploratory stage.
I grabbed a camcorder, wrote up a few scripts, and then headed to Chinatown. The initial plan was to go into different businesses in the Chinatown area, and approach them about doing some advertising. Kam was the camera man, and I was the writer/host/bullshitter/salesman..Kam has extensive contacts in the Asian community. I always tease him that one of these days he's going to get elected mayor of Chinatown. Anyways, finding businesses to approach and agree was fairly simple. The fact I was doing it for free helped as well. Back then, nothing financially came about from it. Fast forwarding to May of 2012, the simple idea a few summers ago is starting to look more and more achieveable.
Kam's fortunes have changed since then. Mine? Not so much:( But, I'm ever optimistic they will. Anyways, I'm proposing a reality approach for a marketing campaign. At the center of the campaign? The Chinatown section of Las Vegas. I would assume the role as host/writer/salesman. As crazy as this idea may seem to some? My answer? That's how things work in a town like Las Vegas..Las Vegas is a town of action, where fortunes are won and lost at the flip of a card. If we approach things in a hyperlocal sense (hyperlocal is an organic growth strategy that stresses starting growth strategies in concentrated areas)..Without going into a ton of specifics, Chinatown is as concentred as it gets in Las Vegas.
How could you make money with an approach like this? By now, everyone should have some sort of idea about where the Asian economy is going, and where the American economy is at. Maybe that thought is to political for the blog? Moving on, it all boils down to a few key elements? Who can get in front of the crowd first? Who can give a new target market something interesting? At this juncture, the Asian consumer, both now, and in the future, is ripe for the pickins. Their spending power is only expected to increase..Example..The island of Macau is expected to generate 34 billion in gaming revenue for the year 2012..By 2015? The revenue projections are pointed north of 50 billion..To put that 50 billion in perspective..That number represents 5x the revenue the strip had in its best days.
In the end, this all boils down to data mining. Data mining is the techinical term for gathering data about consumer bases, with the thought the data will be worth something in the future..IE..Think of it as 'the dough is in the data base' approach. If somehow we can be funny enough, creative enough, likeable..However favor could be won with the Asian community in Las Vegas. It could serve as a much larger portal to share ideas, products and services with a far greater audience, so to speak.
I like to end a lot of my posts with a thought I'm having..Call it the village idiot thought of the day. "Think about my idea like this. I write the scripts, myself and a few others would aim to bring a reality approach to advertising for Chinatown. The videos would look professional, the players would be attractive, the story line would revolve around Asians, their culture, business, likes, and so on. I would have a couple of sharp minded Asians assisting me as well. Well, if you can make something like that work, in Chinatown Las Vegas. No reason to believe it won't work somewhere else..In the end it's about starting an organic data base..You've got to start somewhere, and Chinatown is as good a place as any."
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