Most Important Concepts:

• Don’t sell until you know you’ll sell out.

How I Can Use This Info:

Chapter Recap:

Principle 1 - Only oversubscribed businesses make a profit

• You only need two bidders to drive a price up.
• Markets go up because there are more buyers than sellers.
• For demand to be higher than supply, some people must miss out.

Principle 2 - The only people that matter are your people

• Having a market of your own is the key to becoming oversubscribed.
• You may only need a few clients, if you charge high-enough prices.
• Being in contact for ’7 hours - 11 interactions - 4 locations’ will make you feel more like a friend than an acquaintance.
• You should have enough free content online for a person to be able to 7-11-4 with you at any moment.

Principle 3 - First make your market, then make your sales

• Slowly warm your market up before pushing for a sale.
• There are four drivers of market imbalances where you’ll often see more buyers than sellers: Innovation, Relationships, Convenience, Price.

Principle 4 - People buy when the conditions are right

• Trying to get one member of the pack to run forward is hard unless they are part of a stampede.
• People buy things that other people want to buy.
• People often judge the product by the people buying it. Focus on shining the spotlight on existing customers, rather than new customers.