Catch Me if You Can.

In 1985, I opened my first business. It was Dave Romeo Bass Tournaments. It seemed like the logical thing to do. After all, I was 25 years old, I had never run a business before, and try as I might, I couldn’t find a copy of How to Run a Bass Fishing Tournament Business on Long Island with No Experience at the local Borders bookstore — which as you know, are not any easier to locate these days.

Surprisingly though, despite my naïveté, my business was a success. Not only was it popular, it was profitable, and I ran for it 10 years without having any competition. That’s almost unheard of. Naturally, it piqued my curiosity to figure out how somebody as inexperienced as I was could stumble onto such early success. I finally concluded that it came down to a great bit of luck and making sure that every person who attended felt important and special.

For example, I created a check-in system which allowed me to greet each pair of boaters as they waited anxiously in their cars to unload and launch their boats. Not only did it keep them occupied and less impatient, it gave me a chance to get to know them and bond with them.

Another strategy that worked quite well was offering only merchandise prizes. That was unusual because most other tournaments collected entry fees and then gave back most of the money in prizes. By having 14 national sponsors provide everything an angler could ask, for including tackle boxes, embroidered vests, fishing lures, rods, reels, and inflatable boats, winners felt like they had hit the jackpot when they won and I also made sure that there were 15 draw prizes at every event so that even if you didn’t win, you might still come home with an electric trolling motor.

One of the biggest complaints I heard about from the local bass club members was that they couldn’t fish in their own boat or fish with their friends. It was supposed to be a random pairing to prevent cheating. I went on the assumption that most people just want to go out and have a good time fishing. By letting people fish in their own boats with their friends, it virtually eliminated my competition.

The best part about that experience was that so much of what I learned from running bass fishing tournaments translated into running seminars and other business ventures. Everyone wants to feel important and special when they do business with you — including your customers. If you don’t believe me, just ask them.

“Competition is always a good thing. It forces us to do our best. A monopoly renders people complacent and satisfied with mediocrity.” – Nancy Pearcy

Let me hear from you.

This excerpt is taken from my seminar The Psychology of Selling IV: How to Capture 100% of Your Market.  I encourage you to click here to register for my live in person The Psychology of Selling IV: How to Capture 100% of Your Market seminar on Thursday, July 13, 2023 from 9 AM to 12 noon Eastern Standard Time at the Comfort Suites in Manheim, PA. This event will also be available through live streaming.