The Leadership Qualities of Vincent Kennedy Mcmahon that made WWE successful

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Do you know where your company’s Chairman of the Board is? 
If your company is World Wrestling Entertainment, he is lying motionless on the apron of a wrestling ring in Philadelphia, having just been brutalized by a “Superman punch”, thrown by one of his employees—a former Georgia Tech football star named Joe Anoa’i. And things are about to get worse. A few minutes later, after dispatching the current WWE Champion, the Irish brawler Sheamus, that same employee, also known as Roman Reigns, will walk across the ring and casually kick the 70 year-old off the apron to the arena floor. You have to ask yourself: Would your Chairman of the Board go that far for the company? Probably not. But your COB is not Vincent Kennedy McMahon, is he/she?Vince McMahon is not prototypical of anything. He is definitely a one of a kind—or in his case, the third of the same kind, following in the footsteps of both his grandfather (Jess McMahon) and his father (Vincent James McMahon) as a promoter. Vince took what was originally a regional sport with clearly defined “territories” and blew it up bigger than anyone could ever imagine. He even had the courage to drop the claim that what he promoted was a legitimate sporting event by creating the term “sports entertainment”. In the 30 plus years of his term at the helm of the company, McMahon has seen the organization grow from one struggling to survive, to one engaged in a real life Death Match with rival Ted Turner’s World Championship Wrestling outfit to a juggernaut that continues to create superstar heroes for the youth of America (and millions of adults as well) and appears to almost have a license to print money. McMahon and his family members, including son Shane, wife Linda, daughter Stephanie and son-in-law, company COO Paul Levesque (Triple H) have shown total involvement in the family business. Their combined hard work continues to pay off. But what can your company learn from the CEO of an organization that is the modern day iteration of the old fashioned traveling carnival? Here are some things the WWE does that would help your organization for sure
  • Mastering knowledge of the customer—few organizations know the cutomers they serve better than the WWE. They know what their customers want, who they want to win and how to manipulate demand. The WWE does not respond to customer demand, it creates it and manipulates it. It knows how to move the fan through each annual cycle, a cycle that starts the day after the annual WrestleMania event, peaking that fan’s interest via its two weekly TV shows (Raw and Smackdown) and several Pay-per-view events, ultimately delivering those fans to the following year’s WrestleMania. To do so requires research, monitoring of social media and countless other things, but WWE does it with excellence.
  • Revenue Smoothing Every organization would like a guaranteed cash flow. Historically, with the revenues from its assorted recurring deals including television, WWE has had a good cash flow. However, attendance and purchase of the Pay=per-view events varied from event to event, with WrestleMania being the only one that was guaranteed to bring in the big bucks. With the introduction of the WWE Network, where subscribers pay $9.99 per month and have access to every PPV, a new, smoothed revenue stream was created. Currently, over $1.2 million people are paying for the service monthly, creating nearly $12 million a month in automatically recurring revenue.
  • Scenario Analysis and Contingency Planning—Several weeks back, then current WWE Heavyweight Champion, Seth Rollins, suffered a severe knee injury while performing in Europe. In two days the writers had to forge new story lines and create a new road to WrestleMania set of stories. They bought time by implementing a “Heavyweight Championship Tournament” which held them until the new story lines were ready to be implemented. Now in place, those new story lines have pumped new excitement into the product. The Tables, Ladders and Chairs PPV on Sunday and last night’s Raw were the most exciting production in months.

Comments

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