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Some Distinctions Around Buy vs. Sell

By 7/08/2015 , , ,

"People don't buy what others want to sell; They buy what others want to buy."


This is one of the fundamental principles of the Campaign Driven Enterprise Masterclass.

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In Paris, there’s a department store called Galeries Lafayette; it’s is one of the world’s most famous stores for fashion. Inside is an exclusive area that stocks Chanel handbags. You can’t enter the area just by walking in. You line up, an attendant comes by and asks you what you’ll be looking at in the store.

The wait isn’t normally too long, only 10 minutes or so and the security staff are quite pleasant. After a short line up, you’re in the store and you’re pleased to be able to finally browse a very limited range of designer handbags. 

You might look around, and spot something you like. Aren’t you lucky to be able to hold it finally! You don’t take too long, people are lining up behind you and they can’t come into the store until you’ve finished. You make your selection and you snap up one of the bags (at a price that could buy a full set of luggage and the airfare as well). They thank you and you leave the store proudly as you bask in the adoration of the people who await the same opportunity. 

Outside only three streets away is a store full to the brim with handbags, belts, shoes and jewellery. A man stands outside shouting into the street, partly in French and partly in English. He’s shouting that his stock is on sale, it’s cheap, it’s half-priced. People try to ignore him, they make an arc around the store pretending not to notice him in his desperation. They glance inside and they notice the store is mostly empty other than a few older tourists who are hopefully too deaf to be put off by the shouting. 

The handbags in both these stores aren’t that different. Clearly the genuine Chanel bags would cost a little bit more to make and would last a little bit longer but if aliens landed on Earth and had to figure out which one was better they might struggle with the challenge. 

There is of course a big difference though; the prices. The brand name bags in the exclusive store cost 50x more than the street store bags. Isn’t it odd that a bag that costs 50x more is the one people queue up for and the one that’s barely selling for its production costs isn’t getting anyone engaged! 

The reason is because people don’t buy what others want to sell, they buy what other people want to buy.

My question for you today is..

“What are you doing that makes you and your business exclusive, special, desirable and valued?”

We have a goal to help more businesses to become more highly valued and highly paid. We want these businesses to be in demand, which is what the upcoming "Campaign Driven Enterprise" masterclass with Daniel Priestley is about.

For more information and to secure your seats: click here.

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All views presented on this blog are based on personal opinions and experiences with no monetary compensation was received unless otherwise stated.

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