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| Name | Recession vs Oversubscribed Business with Daniel Priestley |
| Video Uploader | Video From KeyPersonOfInfluence |
| Upload Date | This Video Uploaded At 24-09-2023 08:15:04 |
| Video Discription | News of a Recession is everywhere right now. Do you need to worry? In this video, Daniel Priestley talks about how to survive during a recession. Business success is often tied to understanding demand and supply. Imagine two scenarios. In the first, you can serve 50 clients, but 500 people want your service. Even if the world is in a recession, you'll thrive because demand for your service is higher than what you can supply. In the second scenario, you can cater to 100 clients, but only 10 want your service. Even if the economy is booming, your business faces tough times because your supply exceeds demand. For your business to be profitable, you need to have more demand than supply. When demand is high and supply is low, you see profits. Conversely, when supply is high and demand is low, losses occur. To ensure profits, aim to be oversubscribed – where demand for your services or products exceeds what you can offer. So, how can you do this? Begin by setting your business's capacity. This isn't about the maximum number of clients you can squeeze in. It's about the number of clients you can genuinely serve well. For success, identify your business's limits and work within them. Consider your true capacity and make sure you can always meet the demand without compromising quality. Want to learn more strategies to ensure your business is always in demand? Join our upcoming workshop at https://dent.global/workshop |
| Category | People & Blogs |
| Tags | key person of influence | daniel priestley | oversubscribed | demand and supply | supply and demand | clients | customer success | customer experience | 24 assets | waiting list | recession | 2023 | economy | News | Business Book | Recession proof |
