Manipulate The Law of Supply and Demand

A great article by Niel Patel

  1. Positioning Yourself as a Rare Commodity
  2. Gain Control Over Supply
    1. Your Schedule
    2. Your Position
  3. Manufacture Demand
    1. Begin with Evangelists
    2. Tell Them What to Share
    3. Plant Seeds
    4. Water the Seeds
    5. Allow the Seeds to Germinate
  4. Never forget Lesson #1



Basic Laws of Supply and Demand

Supply and Demand:

P – price
Q – quantity of good
S – supply
D – demand

The four basic laws of supply and demand are:

  • If demand increases and supply remains unchanged, then it leads to higher equilibrium price and higher quantity.
  • If demand decreases and supply remains unchanged, then it leads to lower equilibrium price and lower quantity.
  • If supply increases and demand remains unchanged, then it leads to lower equilibrium price and higher quantity.
  • If supply decreases and demand remains unchanged, then it leads to higher equilibrium price and lower quantity.



Meeting with New People

Remember to

  • Not reject the idea you hear right off the bat. Listen to it carefully and try to understand where it is coming from. The chances are the people in the meeting are more interested about that.
  • Never forget to say “How Can I Help You?”
  • Always have a follow-on action and continue the conversation beyond the meeting
  • State the perks connection with you can bring to the table and mention your capabilities and resources
  • Share the big picture of what you are working on
  • Stay GENUINE

Make Your Money’s Worth From Deal Sites

I was just at the Superior Rustproofing for the first time. The garage is 20min drive from my place and it is located in a rather secluded crescent, definitely not a kind of place you would pass by. The way I learned about them was through and a coupon I bought for oil spray rustproofing. If it was’t for the coupon, there was no way on earth I would have known these guys and trusted them with the job.

After trying a couple of times to book an appointment for a month later, I finally go there. The manager, who took my car in, immediately points out to the different levels of service and I could use the coupon towards more expensive services. Kudos that he’s trying to get more sales and get me to spend more at his shop. Not only he found a new customer that is going to talk about him but also he would get the customer to spend more and would charge extra on taxes that would easily make up for the money he spent on the coupon. The question remains if the customer a returning customer?!


Phone Phobia

In selling, there will be a lot of cold calling and sales pitching that can be intimidating. To help overcome the fear, remember:

  • Sales conversation is just a dialog
  • The prospects love to hear from you, since you are offering a solution for their problems
  • Selling is telling AFTER listening; no one likes sales pitches, but they  like to talk about themselves

Engaged Selling

Prepare a 3-stage sales cycle:

  1. Sow: offer a free of charge evaluation or trial to flaunt the benefits
  2. Hook: sell a service/product that is very affordable yet valuable
  3. Fish: offer the full service/product to those on the hook

It’s simple and effective.


Start-ups vs. Established Businesses

(Established) Businesses are all about 3 fundamental things:

  1. Production (be it building hardware, software or whatever),
  2. Operations (i.e. administration, human resources, management) and
  3. Marketing and Sales

Money is made in ONLY step 3 (Marketing and Sales). Operations is ONLY about moving (effectively and efficiently) from Stage 1 (production) to Stage 3 (Marketing and sales).

Start-ups are also quite similar but different in ONE key aspect from established businesses:

  1. Production,
  2. Operations, and
  3. Learning & Discovery (of customers & market)

The customers are unknown in start-ups and as Steve Blank in “The Four Steps to the Epiphany” asserts the emphasis for start-ups in early phases MUST be on Learning & Discovery (of your market, your customers, what problems they TRULY value and so on).

Only after a start-up has truly figured this one out, does it transit to Marketing and Sales.

Hazem Awad