Every business owner wants to build a service or offer products, which are in high demand. After all, without demand, a business is going nowhere.
Here are some thoughts on what drives demand and what we can learn from it.
What does it take to be ‘in demand’?
Let’s look at a few examples, which have one thing in common:
- High quality is always in demand. Apple products sold in record numbers throughout the recession, despite them often being 300% more expensive than ‘budget’ alternatives.
- A product or service, where the value clearly exceeds the price, will also be in demand. When a supplier has found a way to profitably sell a product, well below the typical market price, the product will be in demand.
- Originality, which brings something of unique value, is always in demand. A work of art is a good example of this.
- A product or service, which people need and is in short supply, will always be in demand. If you’re the only gardener in your area and there are lots of homes that need their gardens looked after, you will be in demand.
A common factor behind those examples, is that demand was driven by a product, service or situation being ‘non standard.’
The non standard approach to business
Think about it for a moment:
- Apple sell non standard devices.
- An extra low price is, by definition, non standard.
- An original work of art is certainly non standard.
- A product or service, where there is not enough supply to go around, is a non standard situation.
Most business owners will tell you that the safest thing you can do, is to play it safe, to emulate what you see others doing. Experience tells us that the opposite is true – that playing it safe is one of the riskiest things we can do. The more we copy others in what they do, how they do it and how they market it, the harder we will find it to get noticed. Whilst the non standard approach helps us develop demand, the standard approach acts as camouflage.
In short: Taking the standard approach pushes us into the background. High demand is the result of a non standard product, service or situation.