This post is part of the 📖 Oversubscribed series.
Today, I am reading the PRINCIPLE #6: VALUE IS CREATED IN THE ECOSYSTEM section from PART 1 of the book Oversubscribed: How To Get People Lining Up To Do Business With You written by Author, Daniel Priestley.
Are you constantly chasing customers? Why does it seem like some businesses have their customers begging to purchase their goods or services?
Learn how to get your business oversubscribed in a crowded marketplace to make your business stand out and get people lining up to do business with you.
The Book Oversubscribed is the guide to transforming your business into one which customers fight over! This invaluable guide will teach you how to drive demand for your products or services far beyond supply and will dramatically increase the success of your business.
Yesterday, we finished reading PRINCIPLE #5: BE DIFFERENT AND SET YOUR OWN RULES.
VALUE IS CREATED IN THE ECOSYSTEM
NOTHING WORKS ON ITS OWN
The people who get paid well today are the people who build a sophisticated product and services ecosystem.
None of it works on its own; all of it works together. Your job is to create a remarkable ecosystem that delivers a positive experience and keeps people coming back for more.
You cannot expect to be highly rewarded for doing a good job. Instead, you can expect to be rewarded when you’ve built a high‐performing ecosystem that delivers value in a multitude of ways.
GIVE AWAY IDEAS, CHARGE FOR IMPLEMENTATION
The new model is pretty simple, though and only requires a small shift.
You must give away information freely or cheaply and then charge for the implementation work.
I share my ideas openly in books and blogs. I don’t hold anything back; if I have a good idea that belongs in a book or a blog, it goes up for the world to see.
As a result, people read my ideas and then want to put them into action. I often get emails from people who have a budget ready and want to get my company to help them implement the ideas they read.
The more your business takes on the responsibility of delivering an outcome, with little or no external input, the more value it creates.
Almost every industry offers various products at all levels—the less energy required from the client, the more valuable the product.
Sticking with the example, if you want to lose weight, you can buy a book for $20 or pay $500 for a gym membership, $3,000 for personal training or $15,000 for liposuction.
Entrepreneurs and leaders can no longer simply deliver value and then get fairly paid.
Every business leader must acknowledge that building a successful business requires making a complex ecosystem seem harmonious and effortless. They must turn chaos into order and do it with style.
Up to now, we read 5 principles
- ONLY OVERSUBSCRIBED BUSINESSES MAKE A PROFIT.
- THE ONLY PEOPLE THAT MATTER ARE YOUR PEOPLE.
- FIRST MAKE YOUR MARKET THEN MAKE YOUR SALES.
- PEOPLE BUY WHEN THE CONDITIONS ARE RIGHT.
- BE DIFFERENT AND SET YOUR OWN RULES.
That’s it for today. Tomorrow, we will continue to read PRINCIPLE #6: VALUE IS CREATED IN THE ECOSYSTEM.
Author(s): Daniel Priestley
Part 10 of 32 in the 📖 Oversubscribed book series.