Willis shares an important business lesson he learned where you would least expect it.
I got the inspiration to create new services within my companies from visiting a theme park.
When I was younger and I went to a large commercial theme-park for the first time, it wasn’t just a theme park to me or a place to have fun. To me, it was a model of how to build businesses within a business. I paid a fee just to get in the gate. And then when I went to a restaurant, I paid to eat and drink. Then I paid money at the gift shops. I paid for tickets to the rides. Everything I did was another business. I thought, “Okay, I’ve got to find a business that has multiple revenue streams within it.”
Theme parks taught me about building other revenue streams. Every time you can add a revenue stream to the same pipeline, the profit margins change drastically. You are putting more through that pipe. That’s what I always tried to do in my businesses, and it is how we were successful.