Key Sales Techniques from the Entrepreneurship Centre

Is it better to let the customer know that you are very busy?  NO! My clients are usually very busy. That’s why I adapt my schedule to theirs by saying something like, “I have nothing scheduled on Monday, Wednesday and Thursday.”

If you act this way, you are depriving yourself of the powerful effects of the law of scarcity, which means that your time  available in limited quantity, is of more value to the customer.

When someone  believes that a product or service is limited in quantity, he automatically assigns it a higher value. When he believes that a product or service is available in unlimited quantity, he assigns it a lower value.

It seems that our reasoning ability decreases sharply in a situation of scarcity. It is as if the possibility of losing something diminishes our ability to reason and puts us on autopilot when it comes to seeking limited resources.

The worst thing is that scarcity produces the same effect if it is simply perceived without being justified. We often see it with “limited edition” or “last call” style products or even companies that are not open 24 hours a day, 7 days a week.

Think about it! Are you ready to pay more for a product you perceive rather rare?

Communicate with the Project Officer, Mr. Benoit Brunette at 613 675-4661 extension 8106, at 613 306-2614 or by email at [email protected] for your entrepreneurial projects.

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