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When planning a new venue, be careful to remain focused on the CORE BUSINESS. For example, if it is a conference venue, the core business is conferences. Any other facilities at the conference centre, such as the restaurant, bars, spa or entertainment is an extension of the core business of conferences.

By keeping focused on the core business, it is easy to identify the CORE MARKET. So, the core markets for a conference centre would be businesses, conference organisers and marketing agencies.

The problem with many new venues is that they try to be all things to all people. They worry about too much and end up not getting any of it right. This is wrong because they do not get their core business right and they do not reach their core markets.

 

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