A few years ago a professional fighter told me, “If you want to lose money, become a fight promoter.” Being a bit cocky, I took that as a challenge. I proceeded to invest, and then lose, almost a quarter million dollars into a professional fight league. Having succeeded in ventures in industries that I thought were much more complicated and challenging (e.g., technology, healthcare, consulting, online publishing), I can now state with confidence that promoting fights is the riskiest, most difficult business there is. If you can figure out how to succeed in this business, you are a better man or woman than me! 

And so it is with great humility and awe that I was able to interview Roy Englebrecht, one of the most consistently successful boxing (and now MMA) promoters in the world, to learn his secrets for success.  

Roy has every detail down when he promotes a fight: the setting up the fight, marketing, working with the state boxing commission, meeting a budget, and even the right way to use ring card girls. His system is so perfected that now he teaches aspiring promoters to succeed with his Fight Promoter University. During this program, participants get to help Roy set up a fight, meet with industry experts, and learn the tricks. 

His credo is simple: “Give fans great entertainment at the right price, in a clean environment, and say thank you and mean it. Then they will value you and keep coming back.” He continues, “I come from a minor league sports background, where fans come out and don’t know a single player. I learned how to give a great experience via good prices, fun events throughout the game, and a clean stadium.” 

In his Battle for the Ballroom, he has learned a long list of things about creating a profit in this business (things I didn’t follow when I blew my money on my fighting venture): 

One: Embrace your status as a minor league operator, and don’t act like you are Don King. You don’t need to pay huge rent for a gigantic venue, when fans want to be on top of the action in a more intimate setting. You don’t need to pay big money for a 10-round main event, when that fight is often the worst of the night and, at $35 per ticket, fans just want non-stop action with fighters who are giving everything they’ve got. Roy admonishes, “Leave you ego at the door. You are a minor league operator, and there is a successful template you can follow to succeed. Don’t make the same mistakes as other promoters who let their ego get in the way.” 

Two: Build up a loyal pool of fans who keep coming back. One way to do this is by contracting with a single venue. That way, you can offer season tickets and develop a reputation as the place to go for great local fights. Another way is by having promotions at the fight to collect fans’ contact information, so that he can follow up with them after the fight. Third, Roy stands outside at the end of every fight to greet and thank fans personally; he doesn't sit in the first row of the fight like other promoters. He even answers the phone himself, and, he claims, "People can't believe they are speaking directly with the promoter and not some assistant."

Three: Provide entertainment and a “Wow!” experience for fans throughout the fight. For instance, during each fight, one lucky fan gets to sit ringside and watch the fight in a special chair.  If the fight results in a knock out, the fan gets $100. If not, the pool goes up to $200 and the next fan gets picked. Similarly, Roy pioneered the concept of having two ring card girls in the ring at the same time (walking in opposite directions), instead of just one, so that fans have twice as much to see. “I learned this from watching lots of television shows. I watch fights on Spanish channels, Pride fighting, and the WWE and learn everything I can about how to enhance the entertainment experience.” 

Four: Get creative in attracting sponsors. For instance, Roy offers sponsors the change to walk down the aisle and even step into the ring with a fighter. “Where else can you be part of the action like that? You can’t walk on the field in the NFL, and you can’t walk on the court when you go to a Lakers game. I can’t sell sponsorships based on television viewership, because these fights are not televised. But if someone brings 20 people, I can let him or her walk the fighter in and be introduced. They feel like they are hallowed ground standing in the ring before the fight starts.” 

Roy also lets sponsors do trophy presentations, or let their own customers do the presentation. “A customer of a sponsor can present the trophy at the end of the fight, get their photo taken with the fighters and the ring card girls, and the sponsor has a very happy client." 

Five: Remember that everything is a show. “I can’t control what happens when the bell rings. The fight might be a quick knock out or go the distance. But I can control what happens before the bell rings. Promoters don’t just produce the fight. The are putting on a show.” 

Six: Keep raising the bar so that the industry gets better, too. Lots of promoters are not happy that Roy teaches people his secrets at Fight Promoter University. “They tell me, ‘We don’t need more competition.’ But I feel like I owe it to the business. Why not give something back. I’m secure enough to teach people my secrets, my formula. And a rising tide raises all boats. There are still promoters who promise the world to everyone, cancel shows, burn their fans, and then just leave the sport. It’s a tough business for the smaller guys, and I can show people have to have fun, make money, and do some good.”

It seems to me that Roy's success principles apply equally well to just about any business. The customer experience can always be improved with a little showmanship, and every business owner should have a template to create a repeatable, consistent customer experience each and every time.

But when our interview ends, I don't have much appetite to draw general business conclusions from his success. All I can think is, “Why didn’t I call this guy before I lost my shirt in this business?”