The Power Of Scarcity

Scarcity is a powerful economic force that can be tapped into by anyone, and it starts with uncovering what is scarce. Companies, such as Starbucks, found a way to tap into this scarcity. People were looking for a good cup of coffee and a relaxing cool place to hang out.

With everything being made by machines, hand made items are more coveted. There is also a demand for great customer service because so many companies are using automated recordings to deal with customers. If one can tap into scarcity in the market, then they have found a way to succeed.

Key Takeaways:

• Things that are not easily attainable have a much larger value than things that are attainable.
• If an item is scarce, it will be valuable to people.
• Success for a business, comes when the business understands what people value and address the need of what is scarce.

“People want what they can’t have, and so scarcity creates value.”

Read more: http://thestoryoftelling.com/scarcity/