The wrong approach: “I should do my best to make sure there’s always enough of my product/service for everyone who wants to buy it.” The right approach: “I should run out of stuff. Often.”
Yes, this is tough to wrap your head around, especially if you’re new to business.
But remember that value is defined by one thing: scarcity. That’s why people line up for new Jordans — because there will never be that many of them. Creating scarcity is a tried-and-true way to increase the value of whatever you sell, and the urgency to make a purchase.
That said, you should never create scarcity at the expense of trust.
In other words, you have to sell out genuinely, not in some falsified or contrived way. Today, we explain how the selling out approach works, why it’s so effective, and how to execute it honestly and ethically.
Less is more! Learn how losing a few sales is the best way to gain more sales down the road. Click Play at the top of the page!
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