Oversubscribed

1. Become Oversubscribed: Create Demand That Exceeds Supply

There are restaurants that people line up for. There are products that you must pre-order months in advance. There are tickets that sell out on the day they are released.

The power of scarcity. Oversubscription occurs when demand significantly outstrips supply, creating a sense of urgency and exclusivity around your product or service. This phenomenon drives up perceived value and allows you to command premium prices.

Creating oversubscription:

• Limit availability of your offerings
• Build anticipation through pre-launch campaigns
• Cultivate a loyal fan base that creates word-of-mouth buzz
• Focus on quality over quantity to justify higher prices

By mastering the art of oversubscription, you position your business as highly desirable and create a competitive advantage in the market.

2. Separate Yourself from the Market: Build Your Own Ecosystem

You have likely assumed up to this point that your business must operate at the whims of the market as though your income is impacted by the economy and that your lifestyle is inextricably linked to what happens "out there" in your industry.

Create your own market. Instead of competing in a crowded marketplace, carve out a unique niche where you set the rules and standards. This approach allows you to become immune to broader market fluctuations and economic trends.

Strategies for market separation:

• Develop a distinct brand identity and philosophy
• Target a specific, underserved audience
• Create proprietary products or methodologies
• Build a community around your offerings
• Establish yourself as a thought leader in your field

By separating yourself from the general market, you gain control over pricing, demand, and customer loyalty, enabling sustainable growth and profitability.

3. Leverage the Four Drivers of Market Imbalance

There are four drivers of market imbalances where you'll see more buyers than sellers. These are the four ways to achieve this imbalance.

Understanding market dynamics. To create oversubscription, focus on four key drivers that create an imbalance between supply and demand:

1. Innovation: Create something new and unique that no one else offers.
2. Relationships: Build strong connections with buyers, making them loyal to your brand.
3. Convenience: Offer the most frictionless solution to meet market needs.
4. Price: Leverage efficiencies to offer competitive pricing while maintaining profitability.

By excelling in one or more of these areas, you can create a natural imbalance that drives demand for your products or services. Focus on developing a competitive advantage in at least one of these drivers to stand out in your market.

4. Cultivate Buying Environments: People Buy What Others Want

People don't buy what others want to sell. They Buy What Others Want to Buy.

Social proof drives demand. Understanding human psychology is crucial in creating an environment that encourages buying behavior. People are more likely to desire something when they see others wanting it too.

Strategies to create buying environments:

• Showcase customer testimonials and success stories
• Implement scarcity and urgency tactics (e.g., limited-time offers)
• Leverage social media to display popularity and demand
• Create exclusive memberships or VIP experiences
• Use influencer marketing to demonstrate desirability

By focusing on what people want rather than what you want to sell, you align your offerings with natural human behavior and increase the likelihood of success.

5. Embrace Differentiation: It's Okay to Buck the Trend

It's OK to be old-fashioned when everyone else is trying to be modern; it's OK to be expensive when everyone else is trying to be cheap; it's OK to be flamboyant when everyone else is trying to fit in.

Stand out from the crowd. Embracing your unique qualities and going against industry norms can be a powerful way to differentiate your business and attract attention.

Ways to buck the trend:

• Adopt a contrarian business model
• Focus on quality when others prioritize quantity
• Offer personalized service in a world of automation
• Emphasize craftsmanship in an era of mass production
• Take bold stances on industry issues

By daring to be different, you create a memorable brand identity that resonates with your target audience and sets you apart from competitors.

6. Create Value Through an Ecosystem of Products and Services

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.

Build a holistic offering. Instead of focusing on individual products or services, create an interconnected ecosystem that provides comprehensive value to your customers.

Components of a value ecosystem:

• Core products or services
• Complementary offerings
• Educational content and resources
• Community engagement platforms
• Customer support and success programs
• Loyalty and rewards systems

By developing a robust ecosystem, you increase customer lifetime value, create multiple revenue streams, and build stronger, longer-lasting relationships with your audience.

7. Build a Remarkable Personal Brand and Tell Compelling Stories

Consumers want to know who the face behind the sometimes seemingly faceless business is. They don't just want to know the founder or the CEO; they also want to know about the engineers, the leaders and the people who work in the company at a ground level.

Humanize your business. In today's connected world, personal brands can be more powerful than traditional corporate branding. Sharing authentic stories and showcasing the people behind your business creates emotional connections with customers.

Elements of a strong personal brand:

• Consistent messaging across platforms
• Thought leadership content (articles, videos, podcasts)
• Public speaking and media appearances
• Behind-the-scenes glimpses of your work and life
• Engagement with your audience on social media

By developing a compelling personal brand and storytelling strategy, you create a unique competitive advantage that's difficult for others to replicate.

8. Implement the Campaign Driven Enterprise Method

Your goal is to stop behaving like a business and become a campaign-driven enterprise with a goal to becoming oversubscribed.

Shift to a campaign mindset. Rather than focusing on day-to-day operations, structure your business around strategic campaigns that drive growth and create excitement.

The Campaign Driven Enterprise Method:

1. Planning: Define capacity, target audience, and delivery timeline
2. Build-up: Generate interest through education and entertainment
3. Oversubscribed Release: Launch when demand exceeds supply
4. Remarkable Delivery: Exceed customer expectations
5. Celebrate and Innovate: Share successes and refine processes

By adopting this method, you create a cyclical approach to business growth that generates momentum and keeps your audience engaged.

9. Focus on Remarkable Delivery and Continuous Innovation

The payoff for being remarkable is immense; for one thing, it reduces your marketing costs to zero.

Exceed expectations. Delivering exceptional products or services that genuinely delight customers is the most effective form of marketing. When you consistently exceed expectations, customers become your best advocates.

Keys to remarkable delivery:

• Surprise and delight with unexpected extras
• Continuously gather and act on customer feedback
• Invest in research and development (5-15% of revenue)
• Train and empower your team to deliver excellence
• Embrace technology to enhance customer experience

By prioritizing remarkable delivery and ongoing innovation, you create a self-sustaining cycle of growth driven by customer satisfaction and word-of-mouth referrals.

10. Assemble a High-Performance Team for Oversubscription Success

To create a high performing team, you need a high performance culture. For a small team, culture is about setting a standard for performance and a way of interacting that brings out the desired results.

Build a winning team. Achieving and maintaining oversubscription requires a dedicated team with complementary skills and a shared commitment to excellence.

Key roles in a high-performance team:

1. Key Person of Influence: Visionary leader and industry authority
2. Head of Sales and Marketing: Drives lead generation and conversions
3. Head of Operations and Product: Ensures exceptional delivery and customer satisfaction
4. Head of Finance, Logistics, and Reporting: Manages resources and provides data-driven insights

By assembling the right team and fostering a culture of high performance, you create the foundation necessary to consistently achieve oversubscription and sustainable growth.

Last updated: August 8, 2024