We are sold out.
That’s what you want to be saying
Do you want a quick tip that will position you better in the marketplace, increase your sales and LOWER your stress levels, here it is in just two words…
…. Be oversubscribed
What does that really mean?
Well as my fellow gazelle Daniel Priestley wrote in his excellent book “Oversubscribed”, supply and demand dictate price.
In other words, the lower the supply and the higher the demand, the greater the price you can comfortably charge.
So it’s a good idea to make sure you don’t have excess capacity (or at least, don’t broadcast it!)
For example, when I did my Breeding Gazelles book launch in London in May with Dan Sullivan and Ryan Deiss.
I know with these two legendary speakers and marketing experts I’d be able to put 500+ people in the room. So how big a room did I book?
300 person capacity.
Why? Because I know it will sell out. In fact, it took less than a week.
Doing it this way accomplishes 3 things;
- It positions you as a leader in the marketplace as your products are in high demand. (ever wonder why apple, the biggest company in the world, cannot make enough of its new iPhones to fill demand on the opening day??)
- The scarcity causes sales to happen faster because people know if they don’t act fast they will miss out
- It makes life so much easier on you! 80/20 rule. It takes 20% of the effort to get 80% of the sales I could have gotten if I’d gone all out!
So think: how can you make your service consistently Oversubscribed?