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Episode Description

In this edition of the Memory Makers Podcast, hosts Danny Gruening and Russ Van Natta dive into the delicate balance of “cutting edge” vs “tried and true” in entertainment venues. We discuss how operators can navigate the constant innovation and change, weighing decisions on new attractions with a calculated risk approach. Using examples like VR and escape rooms, they illustrate the importance of aligning new technology with operational capabilities and market demands.

Key Takeaways

1. Balance Innovation and Practicality: As an owner or operator of a entertainment venue, you should find a balance between innovative ideas and practical decision-making to ensure sustainable growth.
2. Frameworks for Evaluation: There are various frameworks and criteria that businesses can use to evaluate new attractions and investments effectively.
3. Understand Risk Tolerance: It’s important to understand one’s risk tolerance and using models like the Rogers adoption curve, you can be strategic about your decisions.
4. Real-Life Industry Examples: There are numerous examples of successes and failures and many in the industry are willing to share their experiences. Reach out to fellow operators and owners to get those better, re-life, perspectives on attractions, strategies, and technologies.

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