Puppy Sale Scarcity Marketing | 4min snip from The Tim Ferriss Show

Get the app

#725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul

The Tim Ferriss Show

chevron_right

notes

NOTE

Puppy Sale Scarcity Marketing

A successful marketing strategy used in selling 88 undesirable apartments was inspired by a puppy sale incident. By creating scarcity and offering all apartments at the same price of $59,000, a large crowd was attracted, generating a sense of urgency and competition. Sales were conducted efficiently, with contracts signed rapidly. The key to the strategy was the element of surprise and exclusivity, highlighting the effectiveness of scarcity marketing, where limited availability increased demand and desire.

00:00

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

Barbara Corcoran has been an investor/Shark for the past 15 seasons on ABC’s four-time Emmy-award-winning show, Shark Tank. She is also the founder of an eponymous real-estate company, which she started with a $1,000 loan after leaving her job as a waitress in New York City. Over the next 25 years, she would parlay that $1,000 into a $5 billion real-estate business. Barbara is the host of the top business channel on Patreon, Barbara in Your Pocket, which provides exclusive content created for entrepreneurs at every level.

Please enjoy!

Timestamps for this episode are available below. Resources from this episode: https://tim.blog/2024/03/06/barbara-corcoran/

Sponsors:

Shopify global commerce platform, providing tools to start, grow, market, and manage a retail business: https://shopify.com/tim (one-dollar-per-month trial period)

Eight Sleep’s Pod Cover sleeping solution for dynamic cooling and heating: https://eightsleep.com/tim (save $200 on the Pod Cover)

AG1 all-in-one nutritional supplement: https://drinkag1.com/tim (1-year supply of Vitamin D (and 5 free AG1 travel packs) with your first subscription purchase.)

Timestamps:

[00:00] Start

[05:56] Barbara’s fake funeral.

[08:23] Where Barbara’s knack for PR originated.

[10:02] Storytelling.

[11:25] Early business wins.

[14:29] What Barbara learned about competition as one of 10 kids.

[17:27] Early jobs: Barbara’s real education.

[20:04] Dyslexia and dodging the victim mindset.

[22:50] Barbara’s first company.

[26:47] Why Barbara didn’t begrudge her first business partner’s romantic betrayal.

[28:41] The value of enthusiasm.