Winning Habits and CIE
It is very exciting to read the first part of the story behind Cahayapoker, an online casino that won the hearts of many who play in online gambling. It seems like the guy at the head of the team has a lot of good ideas and lots of interest in this industry. However, it doesn’t mean that he had any idea about how to run the business. All his real skills lie in managing people and directing the business.
I hope I am not the only one who felt that there was something wrong when I saw that the first post on Cahayapoker was about what the policy for withdrawals will be. Of course, I understood that it is necessary to monitor how these things are working, but that does not mean that I do not have enough respect for the guy, CIO of Cahayapoker. That being said, I just can’t help thinking that his idea was a bit over exaggerated. I really believe that this is a combination of too much time spent with people and knowing the tricks to playing the game.
The second part of the story is all about money management. This is a good point as well. Of course, the Pareto principle tells us that there are not big players in this industry. The players are evenly distributed. The key word here is “just”, because every person has the potential to become big in the business, but this will take a lot of time and dedication on his part.
It is very important for the owners of Cahayapoker to be aware of their mistakes. At first, I thought that the owners should have taken a different direction to the business. When you get so involved in something, it is not hard to make changes to things you know are going to change. When you are on the other side, you are not afraid to say “I told you so” when you get disappointed by the results of your decisions.
Some of the changes that CIO of Cahayapoker wants to introduce is good, but some are too drastic. For example, they want to switch to cashless transactions. Yes, I get that the financial situation will improve, but this will also lead to the same problems in cashless transactions. It will take more time to process the money and it is difficult to accept the transactions when they are not being processed quickly.
For this reason, I would say that the owner of Cahayapoker should have taken the simple tip to change his strategy to this aspect: offer other transactions to his customers. Let them choose which ones they are comfortable with. They should have included those options in the first place and they should have changed the strategy as soon as they realized they made a mistake.
This is not the only thing that can affect the amount of CIEs that your company will see. It is not just the number of new players that will make your company go down. Of course, it is important to keep your player numbers high, but if you are already on a low that means your profits will not go up.
As a conclusion, there are two factors that will be able to influence the CIE of your company. First of all, your staff’s attitude and second of all, the competence of your management.