Harnessing the Power of Waiting Lists: A Strategy for Business Growth

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This chapter explores the psychology behind consumer behavior, emphasizing the effectiveness of waiting lists in creating a sense of exclusivity and increasing consumer engagement. It discusses the importance of testing market interest before investing in production, using examples of companies successfully leveraging waiting lists to drive conversions. The chapter also introduces a creative idea of using taste testing events and discussion groups via WhatsApp to gauge interest in unique ice cream flavors before committing to production costs.

There has never been a better time to be an entrepreneur, but what is the first step?

Daniel Priestley is an award-winning serial entrepreneur who has built and sold several successful businesses and written 5 books on starting and scaling businesses. He is the founder of Dent Global, an accelerator and venture studio, and the cofounder of ScoreApp, an AI powered marketing software.

In this conversation Daniel and Steven discuss topics such as, the entrepreneurs journey, struggling with mindset shifts when scaling a company, why passion is crucial for success in business, and how AI is changing the business landscape.

(00:00) Intro

(02:15) The Most Exciting Time Of History For Businesses

(04:22) Growing Small Businesses & Making Them Millions

(05:39) Can Anyone Be An Entrepreneur?

(06:20) How To Know If It's A Good Business Idea

(11:09) How Important Is Passion In Being A Successful Entrepreneur

(14:18) Don't Pursue Entrepreneurship For This Reason!

(22:42) How To Be A Visionary

(28:05) How To Be Great At Pitching Business Ideas

(35:46) The Magic Of 'With Or Without You' Energy

(41:17) The Steps To Know If It'll Be A Good Business

(49:43) Fear Of Failure