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My main thing is having a major storyline. One storyline that drives the whole promotion.
Then have some lesser storylines and time for the fans to build up the guys who aren't on top. If the fans were given a reason to care about Londrick or the Redneck Wrecking Crew, or anybody on the card for that matter, the fans would have someone to get behind besides the top 2 or 3 guys. It also paves the way for the future, and the possibility (come on, the inevitability) of a top star taking some time off due to injury.
Woman's division would be fine, but not essential. I would, however, include a Brass Knuckles Division, a TV Title, and a Tag Title. I'd use the TV Title as the #2 belt in the promotion, a belt that is respected as a stepping stone to the belt. I'd also be for making the Tag belts important. I wouldn't make the Brass Knuckles title be contested in joke matches. To be a Brass Knuckles Champion, you'd have to be a bad ass., because it means you are the toughest guy in the company. It's also a stepping stone to the top, a good way to build a bad ass heel.
The Brass Knuckles division and the tag division would be an appetiser for what the company would be all about: the Heavyweight Title.
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