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Craps Check

Craps Check

In casinos, there’s a bet at the craps tables called colloquially, “craps check.” That means you bet against yourself on the first roll if you have a huge positive bet on the table. If you roll craps (2, 3, 12) you lose your positive bet but make almost all of it back on the craps check bet. If you don’t roll craps, then you keep rolling, trying to make your number, losing only the smaller craps check amount.

Companies often make more money on warranties and insurance policies than on their products and services. You buy a TV or a computer along with a two-year (or more) protection policy, and the company’s profit is greater on the coverage (because their products and services don’t fail, or because they do and the consumer has forgotten about the protection).

Maybe, in consulting, we should offer the client “advice protection,” where our project is $100,000, but for an extra $25,000 they can get their money back if we don’d deliver the agreed upon results.

Sort of a consulting craps check.

Written by

Alan Weiss is a consultant, speaker, and author of over 60 books. His consulting firm, Summit Consulting Group, Inc., has attracted clients from over 500 leading organizations around the world.

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