This post is part of the 📖 Oversubscribed series.
Today, I am reading a chapter ONLY OVERSUBSCRIBED BUSINESSES MAKE A PROFIT from the 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, I started a brand new book Oversubscribed: How To Get People Lining Up To Do Business With You and finished the INTRODUCTION chapter.
PRINCIPLES FOR BECOMING OVERSUBSCRIBED
ONLY OVERSUBSCRIBED BUSINESSES MAKE A PROFIT
You likely learned long ago that the market forces of demand and supply determine the price and the profit you’ll make.
But what you didn’t learn is that you can make your own market forces.
You must take control of this sacred balance because unless your business becomes oversubscribed, you’re unlikely to realise your full value.
YOU ONLY NEED TWO BIDDERS
You don’t need everyone on the planet to see you as highly valuable; you only need enough people who can drive your price up.
Separating from the economy and your industry requires that you turn your attention to those who find you highly valuable and then serve them better than anyone else can.
If two people want your time and only one can get it, your price rises until one of them give in.
Your job isn’t to please everyone. Your job is to find those people who can’t live without you.
Who are those people? What is it they want? and Where do you find them?
- It’s the tension of high demand and limited supply that creates the opportunity for profit.
Being oversubscribed requires nothing more than a situation whereby some people who really want something have to miss out on having it.
Of course, it’s a difficult situation because you and your company don’t want people to miss out. Naturally, you want to sell to everyone willing to buy, yet that very mindset prevents you from becoming oversubscribed.
That’s it for today. Tomorrow, we will read the same section but PROFITS, LOSSES OR WAGES? part of it.
Author(s): Daniel Priestley
Part 2 of 32 in the 📖 Oversubscribed book series.