Vince McMahon On Knowing Your Audience, Keeping WWE Successful, Using Social Media, More

Vince McMahon recently did a Q&A with acp-advisornet.org, which gives advice to veterans. Below are some highlights:

In your opinion, was it more difficult making WWE a success in the beginning, or keeping it a success today?

Both are challenging. At WrestleMania 1, we mortgaged everything we owned, hoping it would be a success. It was a huge gamble that paid off. Today, the challenge is to stay relevant, take advantage of new technologies and continue to evolve. The one constant is to approach every day like it's my first day on the job with fresh thinking and new ideas. But to answer your question directly, it is extremely difficult to get to the top but even more difficult to stay there.

What traits and attributes do you believe a veteran has to offer in your organization? Do you believe in recruiting experienced talent to fill roles, or do you like to train from the ground up?

Work ethic, leadership, communication skills and time management, as well as the ability to multi-task and work under pressure are traits I believe veterans can offer any organization. At WWE, we recruit experienced talent from a variety of industries and pride ourselves on promoting from within the company.

I'm starting a skateboard company. What are the most effective and low-cost marketing tactics you use for WWE?

Social media is today's "word of mouth" and an important part of WWE's success. Social and digital media provides us with an opportunity to engage our fans one-on-one and have a direct conversation with them. These same tactics apply to small businesses as well.

Hello Mr. McMahon! I'm sure there are countless aspects contributing to WWE's overwhelming success. Are there any attributes that you consider completely necessary?

It's important to know your audience, keep them engaged and always stay relevant. On a personal level, a strong work ethic and first day on the job thinking are two attributes that an employee must bring each day. It's also important to have a good sense of humor. Take your work, but not yourself, seriously.

Mr. McMahon, when did you realize the awesome potential for WWE to become a global brand and what advice do you have for veterans thinking of launching their own brand?

Brand building is an essential part of marketing. Make sure your brand is something easily understood by the public and make sure it is flexible enough to adapt to the ever-changing demands of the marketplace.