Scarcity, Exclusivity,Convenience

Scarcity, Exclusivity, Convenience.

I have talked to and studied a lot of successful millionaires and even a few billionaires and they range from offering mainstream products and services and others very exclusive. 

Some very successful entrepreneurs focus on scarcity and exclusivity of the product and / or service.

They release limited amounts and refuse to mass produce the product. 

Look at luxury watches as an example, limited numbers released with elite service warranties with a high price tag.

BUT this doesn’t only apply to products of course it can be applied to pretty much anything. Food is another area regularly applied to. People will spend huge amounts of money on certain foods either difficult to find elsewhere or at least served or presented in a way that few do. 

Successful people create things that you won’t forget, they often make it impossible or at least very difficult for others to duplicate, they have the courage to price things high and even more courage to offer a limited supply only. 

Some people would say this is ‘high risk’. The successful millionaires and billionaires I’ve talked to say it’s ‘high reward ‘ 

Above all they focus on quality and high value. 

They also realise that we the consumer want speed, connivence. They ensure that their shopping sites are easily found on google, the purchase process is easy and convenient. They focus on saving you time. Look at Jeff Bezos one of the wealthiest men on the planet and founder of Amazon. 

You can order something today and sometimes have it the same or next day from a totally different country! Speed, efficiency, and convenience!

If you are enjoying this newsletter and want to explore synergies, I spend the majority of my time getting ambitious individuals often with a purpose greater than self into online media publications every month. I am also launching a 6-month online Accountability Mastermind for 10 action takers only. 

Here is my booking link if either interest you. Let’s take action https://calendly.com/thinknetwork/20

Thank you!

Gary 

Ulster Tatler Businessman of The Year 2022