Daniel Priestley - Oversubscribed

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“For the last 30 years I've worked on some of the world's largest events, from mass participation running and cycling events to the Olympics. It's always a challenge to get a big event to engage with a large audience – this is one of the few books I've ever seen that distills powerful ideas and strategies that I know have an impact.”

Chris Robb, CEO and founder of Spectrum

Worldwide and CycleAsia

“This book contains powerful ingredients and delicious recipes for succeeding in your business. Savour it!”

Pete Evans, chef, health coach, entrepreneur

“After building an international retail business in three countries with over 1,000 locations I understand the pressure businesses are under to grow and scale. This book is perfect for an entrepreneur, leader or marketing manager to perform at their best.”

Julia Langkraehr, founder of Retail Profile Europe Ltd,

Bold Clarity Ltd and international speaker

“I've launched and sold over $5 billion worth of products and I know that successful product sales requires a unique approach. This book shares ideas that will increase your sales and scale your business.”

Kevin Harrington, celebrity entrepreneur

(Original shark on Shark Tank)

“I read Oversubscribed and found myself nodding and reflecting upon success stories that I know or have been a part of. Principles that would take a decade to learn through trial and error are spelled out clearly in this book. Daniel Priestley continues to cement his position as one of the most perceptive, influential, and also, entrepreneurial commentators on the planet.”

Andrew Griffiths, Australia's number one business author, Inc.com featured columnist, CBS entrepreneurial advisor

SECOND EDITION

DANIEL PRIESTLEY

This second edition first published 2020 © 2020 Daniel Priestley.

Edition History John Wiley & Sons Ltd (1e, 2015)

Registered office John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, United Kingdom

For details of our global editorial offices, for customer services and for information about how to apply for permission to reuse the copyright material in this book please see our website at www.wiley.com.

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Library of Congress Cataloging‐in‐Publication Data

Names: Priestley, Daniel, author.

Title: Oversubscribed : how to get people lining up to do business with you / Daniel Priestley.

Description: Second edition. | Chichester, West Sussex, United Kingdom : Wiley‐Capstone, 2020. | Includes index.

Identifiers: LCCN 2019057709 (print) | LCCN 2019057710 (ebook) | ISBN 9780857088253 (paperback) | ISBN 9780857088277 (adobe pdf) | ISBN 9780857088260 (epub)

Subjects: LCSH: Marketing. | Customer relations. | Small business—Growth.

Classification: LCC HF5415 .P65927 2020 (print) | LCC HF5415 (ebook) | DDC 658.8—dc23

LC record available at https://lccn.loc.gov/2019057709

LC ebook record available at https://lccn.loc.gov/2019057710

Cover Design: Wiley

Cover Image: © Photobank gallery/Shutterstock

For my wonderful and supportive wife, Aléna. And for our delightful children, Alexander, Ethan and Isla.

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.”