Oversubscribed. Daniel Priestley

INTRODUCTION

      There are restaurants that people line up for. There are products that you must preorder months in advance. There are tickets that sell out on the day they are released. There are stocks that go roaring up in value right after they float. There are cars that were bought before they were built and properties that sell off the plan when they are nothing more than a set of drawings. There are consultants who are booked six months in advance and hair stylists who charge ten times more than others. There's furniture you can't buy, only preorder, and bottles of wine that are purchased while their grapes are still hanging on the vine.

      There are people who don't chase clients. Clients chase them.

      In a world of endless choices, why does this happen? Why do people line up, pay more and book so far in advance when other options are easily available? Why are these people and products in such high demand?

      This book explains why. It's caused by a phenomenon known as being “oversubscribed”.

A product or brand reaches a level of being oversubscribed when there are far more buyers than sellers. It's when demand massively outstrips supply. It's when many more people want something than capacity allows for. This book is designed to give you a recipe for becoming oversubscribed and introduce the underlying ideas that drive this phenomenon.

      But before we delve into these concepts and suggestions, it would probably be a good idea to give some background on why you should listen to me. Let me start by telling you a story.

      My company runs large business and leadership events around the world. We don't use typical conference rooms in typical hotels; we host our events in theatres and auditoriums that are usually used for popular musicals and shows. What's more, our events are premium priced and oversubscribed – despite the fact that most companies struggle to get 50–100 people to turn up to a free business event.

      For example, when we launched a new office in Sydney Australia, I was forced to issue an email to clients that said: “We have sold too many tickets to the event that you've booked in for. The venue holds 700 people and we've now sold more than that and have a waiting list forming. If you'd like to sell your ticket back to us – or for any reason you can no longer attend the event – please email us, and we will buy back your ticket today for DOUBLE what you paid.”

      As I mentioned, most business events in Sydney are free, don't get more than 100 attendees and are run by people who live in Sydney and have access to local contacts and networks. Our event was brand‐new, priced at the top end – and we didn't have a single staff member on the ground in Sydney at that time.

The email wasn't a joke, a gimmick or a ploy. It was genuine. We had sold too many tickets to our event. We had a similar problem in Melbourne two weeks later, then in London, then in Florida.

      This wasn't happening by accident. It was orchestrated to be like this. And this book will show you how it's done.

      My business often books clients three months in advance. We don't do it to be difficult; it's just the amount of time people need if they want to work with us. If someone says they aren't sure about working with us, we don't argue or try too hard to sell them. We smile politely and say that it's OK not to. We don't need to convince people – there are others lined up, waiting.

      I launched my first company in 2002 at age 21 with a $7,000 credit card. It was a boutique marketing company specializing in event promotions in the financial services industry. Within 12 months I'd made over $1 million in revenue and had more than $300,000 cash in the bank. By age 25, I'd used the same insights to make over $10 million in sales and had made myself an enviable amount of money for a young man. Along the way, I discovered some very valuable ideas on how to make a product or service oversubscribed.

At age 25, I moved to London with my best friends and business partners. We launched a new business with a small amount of start‐up capital and once again made millions in sales within 12 months. At age 29 I wrote my first book and used the ideas set out in this book to send it to the number one spot for business books on Amazon. I've raised millions of investment capital for my businesses and helped charities to raise hundreds of thousands of dollars in a short space of time by using the ideas that I will share with you in the pages to come.

      As you'll discover as you continue to read through this book, there's no scarcity in the world for people who share abundantly. One of the ways I keep myself oversubscribed today is by the very process of sharing big ideas. I've come to discover that the more I share, the more people demand.

      I also believe that the principles in this book lead to better businesses for everyone involved – for the customers who get a higher level of service, for the business owners who stop chasing and for the employees who enjoy working for a company that's in demand.

      My vision and hope is for millions of entrepreneurs and leaders to become more empowered to tackle bigger problems. This book is part of that vision. The ideas in this book are designed for quality businesses that care about what they do and want to be able to take their products to market more effectively. They are not for people who want to run a gimmick, make a fast sale or pull a swift win over their unsuspecting buyers.

      Before you even begin, you must feel confident that your offering is something that genuinely serves people. You must be passionate about it and the value it presents to the world. You must love what you do, care about your customers and want to be in your business for the long haul. For the rest of this book, I will assume that's a given.

Being oversubscribed is the way for you to do your best work and spend more time with your current clients rather than chasing new ones. It gives you more down time to innovate your products rather than running around selling them – and it enables you to build your brand rather than blend in with the crowd.

      I've also written this book because I understand the struggle most entrepreneurs and leaders undergo.

      We live in remarkable, changing times. Many ideas that worked five years ago aren't working anymore. Everyone is under pressure to innovate and put results on the board. The decade ahead is going to be both challenging and inspiring. The pace of change is speeding up and the way the world of business and society works won't look the same in ten years from now.

      Many people will see this as a great wave of change that sweeps them out to sea, and others view it as one they can surf and enjoy. If you're like me, you'll be paddling hard.

      By the end of this book, you'll have a method for becoming oversubscribed. I'm going to unpack a process for getting yourself in the enviable position of being in demand. Of course, it will be up to you to apply the process to your business – and it'll take trial and error before you get it right. Ideas are easy; it's the implementation that's hard. Stick with it though, because the payoff is extraordinary. Once you are oversubscribed you'll earn more money, have more fun and attract more opportunities.

You won't have to chase opportunities; you'll curate those that show up. Your inbox will become a garden of prospects rather than an endless stream of tasks to follow up on.

      This book isn't just about marketing principles and business methods. I will begin by addressing some problems that most businesses suffer from and sharing some of the stories and principles that drive the deeper philosophy behind the book. My goal is for you to understand these concepts on a deep enough level that you'll make better decisions intuitively and you'll be approaching your business with a different outlook.

      You might need to read this book several times and let the ideas sink