Go Hunting for Whales

In the casino business in Las Vegas, a “whale” is someone who spends and exorbitant amount of money compared to the regular customer - typically 5x - 50x. It’s no wonder casinos target these customers to attract and maintain relationships with them, offering free night stays and plenty more.

Many small business and realtors have the mentality that “everyone is my customer”, or they will go everywhere to take a listing. This often times is a horrible waste of resources and energy, and generates average results at best. Advertising mogul, David Ogilvy, started his own ad agency by defining his top 100 ideal customers (Dream 100) and went after them with vengeance, resulting in attract roughly 40. With those 40 customers, Ogilvy went on to create the most powerful ad agency in the world.

It makes you think, should I really just be throwing s*** at a wall and seeing what sticks? Or, should I be defining folks that I want to work with, that pay me what I’m worth? It’s pretty obvious which is more appealing.