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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Oversubscribed summary
Daniel Priestley
How to Get People Lining Up to Do Business with You
16 mins
Brief summary
Oversubscribed by Daniel Priestley teaches us how to create demand for our products and services. By being unique and focusing on delivering value, we can attract loyal customers and become oversubscribed.
Table of Contents
Oversubscribed
Summary of 6 key ideas
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Key idea 1 of 6
Successful businesses create more demand than supply and find niche markets to generate desire.
Every year there will be some expensive new gadget or device that people really don’t need, yet they’ll desire it nonetheless.
There’s nothing mysterious about this since it all comes down to popularity and scarcity: When everyone else has a certain thing, you’ll want to have it, too. And when something is so popular that it’s hard to come by, that’s when something becomes really desirable.
You may have learned the laws of supply and demand in grade school, but these days, the secret of success is in the laws demand and supply.
When there is more demand and buyers than there are products and supply, this causes a business to become oversubscribed. This might sound bad, but it’s actually a good thing. Indeed, it’s a powerful means of generating profit.
One of the best examples is the iPhone. Whenever Apple releases a new version, it’s guaranteed to sell out before the phone even goes on sale. Now, this isn’t a problem for Apple. They want people to see long lines of iPhone enthusiasts waiting for days to be the first ones to buy the latest model. It’s free promotion that shows how huge the demand is.
However, demand can shift over time. For Apple, their iPhone needs to remain desirable even as companies like Samsung get increasingly competitive.
One of the biggest challenges to staying oversubscribed is knowing how to respond to a market that becomes flooded with similar products once there’s an obvious demand.
In the 1980s, plastic surgery was an oversubscribed business, with a handful of doctors that could charge enormous fees and still be fully booked. But after thousands of other doctors joined in, prices had to be greatly reduced in order to remain competitive.
So a great way of remaining oversubscribed is to carve out your own niche market with loyal customers.
Moet & Chandon, the makers of Dom Pérignon champagne, is a good example. While there are a lot of champagnes out there, Moet & Chandon have managed to build a luxury brand that is regarded as the best of the best. So customers who want to impress know exactly where to turn.
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What is Oversubscribed about?
Oversubscribed (2015) explains how to create a business that generates more demand than it can supply. Used by Apple to create a passionate and loyal customer base and by boutique brands to manufacture desire and earn huge profits, the business model of oversubscription both gets attention and keeps it. In these blinks, you’ll learn how it works.
Oversubscribed Review
Oversubscribed (2015) explores how to create demand for your products and services by becoming the go-to authority in your field. Here's why this book is worth reading:
- Offers practical strategies and actionable advice to help businesses stand out in a crowded market and attract more customers.
- Uses real-life examples and case studies to demonstrate how businesses have successfully implemented these strategies, making it relevant and inspiring.
- Provides insightful perspectives on marketing and customer psychology, challenging conventional thinking and encouraging innovative approaches.
Who should read Oversubscribed?
- Entrepreneurs and investors looking for the next big thing
- Students of marketing and business
- Readers interested in the secrets of success
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Oversubscribed FAQs
What is the main message of Oversubscribed?
Achieve business success by creating demand rather than chasing customers.
How long does it take to read Oversubscribed?
Reading time for Oversubscribed varies, but it takes just 15 minutes to read the Blinkist summary.
Is Oversubscribed a good book? Is it worth reading?
Oversubscribed is worth reading for valuable insights on creating a highly sought-after business.
Who is the author of Oversubscribed?
Daniel Priestley is the author of Oversubscribed.
What to read after Oversubscribed?
If you're wondering what to read next after Oversubscribed, here are some recommendations we suggest:
- 10x Is Easier Than 2x by Dan Sullivan with Benjamin Hardy
- Happy Sexy Millionaire by Steven Bartlett
- 24 Assets by Daniel Priestley
- Think Like an Entrepreneur, Act Like a CEO by Beverly E. Jones
- The Worry Trick by David A. Carbonell
- The Diary of a CEO by Steven Bartlett
- Strategize to Win by Carla A. Harris
- Limitless by Jim Kwik
- Speak Like a CEO by Suzanne Bates
- Be Obsessed or Be Average by Grant Cardone