we’ll a shortage of inventory hurt my company’s image it’s really important to
company’s image it’s really important to
company’s image it’s really important to take care of your image as an
take care of your image as an
take care of your image as an entrepreneur because you need people to
entrepreneur because you need people to
entrepreneur because you need people to talk about you right you don’t have the
talk about you right you don’t have the
talk about you right you don’t have the big dollars to go out and take TV ads
big dollars to go out and take TV ads
big dollars to go out and take TV ads and radio ads and newspaper ads every
and radio ads and newspaper ads every
and radio ads and newspaper ads every successful entrepreneur has built their
successful entrepreneur has built their
successful entrepreneur has built their business on the back of word-of-mouth
business on the back of word-of-mouth
business on the back of word-of-mouth marketing you need to get people to talk
marketing you need to get people to talk
marketing you need to get people to talk about you in a good way to get them
about you in a good way to get them
about you in a good way to get them coming to you and buying from you and
coming to you and buying from you and
coming to you and buying from you and all the other marketing advertising
all the other marketing advertising
all the other marketing advertising helps support that but the people are
helps support that but the people are
helps support that but the people are not spreading the message by telling
not spreading the message by telling
not spreading the message by telling their friends about you it’s not gonna
their friends about you it’s not gonna
their friends about you it’s not gonna happen for you you are going start a
happen for you you are going start a
happen for you you are going start a different business one that you have
different business one that you have
different business one that you have something different and meaningful to
something different and meaningful to
something different and meaningful to talk about okay so you have to take care
talk about okay so you have to take care
talk about okay so you have to take care of your brand image you have to take
of your brand image you have to take
of your brand image you have to take care of how people see your company got
care of how people see your company got
care of how people see your company got a great question from one of my youtube
a great question from one of my youtube
a great question from one of my youtube viewers love you guys Corona wrote in to
viewers love you guys Corona wrote in to
viewers love you guys Corona wrote in to say he’s creating this limited supply
say he’s creating this limited supply
say he’s creating this limited supply scarf and wanted to know if the
scarf and wanted to know if the
scarf and wanted to know if the inventory shortage will discourage
inventory shortage will discourage
inventory shortage will discourage customers from buying and impact his
customers from buying and impact his
customers from buying and impact his image having a limited supply can
image having a limited supply can
image having a limited supply can actually be a great thing for your
actually be a great thing for your
actually be a great thing for your business it creates scarcity if there’s
business it creates scarcity if there’s
business it creates scarcity if there’s tons available people may not want to
tons available people may not want to
tons available people may not want to buy it but if there’s a limited
buy it but if there’s a limited
buy it but if there’s a limited selection they’re more likely to want to
selection they’re more likely to want to
selection they’re more likely to want to pay for it and pay a premium for it as
pay for it and pay a premium for it as
pay for it and pay a premium for it as well the key thing here is communication
well the key thing here is communication
well the key thing here is communication you have to know how many you’re going
you have to know how many you’re going
you have to know how many you’re going to create how many gonna produce and let
to create how many gonna produce and let
to create how many gonna produce and let your customers know that it’s a limited
your customers know that it’s a limited
your customers know that it’s a limited supply that’s available and if it sells
supply that’s available and if it sells
supply that’s available and if it sells out it sells out or you have a certain
out it sells out or you have a certain
out it sells out or you have a certain number coming out every month whatever
number coming out every month whatever
number coming out every month whatever it is but you have to communicate with
it is but you have to communicate with
it is but you have to communicate with your customers you can build this into
your customers you can build this into
your customers you can build this into prestige brand that creates limited runs
prestige brand that creates limited runs
prestige brand that creates limited runs that only creates 200 scarves at a time
that only creates 200 scarves at a time
that only creates 200 scarves at a time and if you miss it you miss it but it’s
and if you miss it you miss it but it’s
and if you miss it you miss it but it’s part of the communication as part of
part of the communication as part of
part of the communication as part of your brand if people are expecting to
your brand if people are expecting to
your brand if people are expecting to get something and you don’t deliver if
get something and you don’t deliver if
get something and you don’t deliver if they order from you and you can’t
they order from you and you can’t
they order from you and you can’t produce it for them that’s gonna create
produce it for them that’s gonna create
produce it for them that’s gonna create a negative experience with the customer
a negative experience with the customer
a negative experience with the customer they’re not going to come back they’re
they’re not going to come back they’re
they’re not going to come back they’re gonna not tell their friends and if they
gonna not tell their friends and if they
gonna not tell their friends and if they do it’s going to be something bad about
do it’s going to be something bad about
do it’s going to be something bad about you so it’s really important to frame
you so it’s really important to frame
you so it’s really important to frame the conversation by setting up the
the conversation by setting up the
the conversation by setting up the expectations if customers know there’s a
expectations if customers know there’s a
expectations if customers know there’s a limited supply they’re gonna act quickly
limited supply they’re gonna act quickly
limited supply they’re gonna act quickly they’re gonna be interested and if they
they’re gonna be interested and if they
they’re gonna be interested and if they don’t get it there
don’t get it there
don’t get it there no it’s because of the limited supply
no it’s because of the limited supply
no it’s because of the limited supply and they’re gonna be on their hustle
and they’re gonna be on their hustle
and they’re gonna be on their hustle next time when a new product comes out
next time when a new product comes out
next time when a new product comes out to get it quickly but if they think
to get it quickly but if they think
to get it quickly but if they think there’s an infinite supply or they’re
there’s an infinite supply or they’re
there’s an infinite supply or they’re buying from you they’re giving you money
buying from you they’re giving you money
buying from you they’re giving you money and you can’t deliver then that creates
and you can’t deliver then that creates
and you can’t deliver then that creates the opposite it’s a negative experience
the opposite it’s a negative experience
the opposite it’s a negative experience and they’re not going to talk about you
and they’re not going to talk about you
and they’re not going to talk about you this is important to really frame the
this is important to really frame the
this is important to really frame the expectations for your customers and
expectations for your customers and
expectations for your customers and build an experience that is worth
build an experience that is worth
build an experience that is worth talking about that gets people excited
talking about that gets people excited
talking about that gets people excited that gets people to move to take action
that gets people to move to take action
that gets people to move to take action you need to build your business on the
you need to build your business on the
you need to build your business on the back of word-of-mouth and that comes
back of word-of-mouth and that comes
back of word-of-mouth and that comes you’re creating that amazing experience
you’re creating that amazing experience
you’re creating that amazing experience with your business every time so yes it
with your business every time so yes it
with your business every time so yes it can negatively impact your company if
can negatively impact your company if
can negatively impact your company if you don’t set the proper expectations
you don’t set the proper expectations
you don’t set the proper expectations believe those are you watching like the
believe those are you watching like the
believe those are you watching like the video please give it a thumbs up below
video please give it a thumbs up below
video please give it a thumbs up below and I’d love to hear you have to think
and I’d love to hear you have to think
and I’d love to hear you have to think leave a comment underneath let me know
leave a comment underneath let me know
leave a comment underneath let me know if you’ve had experiences with shortages
if you’ve had experiences with shortages
if you’ve had experiences with shortages of your product if you have a question
of your product if you have a question
of your product if you have a question for your business leave it below I’ll
for your business leave it below I’ll
for your business leave it below I’ll make a video response thank you so much
make a video response thank you so much
make a video response thank you so much and I’ll see you soon
”
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