Winning the Business Strategy Game – The Celebrity Mistake
In all the games I’ve seen, oftentimes a company won’t think one of the most overrated aspects of the business strategy game that wins. And that is celebrities.
Celebrities for a fixed cost, give a boost to the desirability to your shoes. Most people think really materialistically when they think of celebrities and want them to promote their shoes. Celebrities are known for getting outrageous amounts of money and therefore in the first year, people put up insane bids without even thinking. When I say insane I mean over $10,000, I’ve seen people max it out at $50,000. Thinking of it logically, if you are starting a new game, your company sees a net profit of about $30,000 a year. So to bid anything above $10,000, you are basically throwing away your net profits. Most companies put themselves in a bad start by bidding way too high for celebrities.
Realistically, your celebrity bids are $1000-$3000 to put you in the right direction. A game can be won without celebrities.
Celebrities though can be a strategy in themselves. A mid game company that has all the celebrities for possibly $5000 on average has stifled his competition who has no celebrities. This strategy is not a surefire winner, but it is a strategy that I have employed for a round.
Overall though, take celebrities with a grain of salt. Celebrities in the game don’t have enough clout singly to win business strategy game. In the end it is your product that will make or break you.