12 Principles to Transform Your Business into an Inbound Powerhouse

Best tips from David Priestley

In today's highly competitive business landscape, there's one goal that every entrepreneur should strive for: becoming oversubscribed.

What does that mean, exactly?

It's a position where your business is not chasing customers, but rather, customers are lining up to work with you.

Imagine having so many leads and inquiries that you can handpick the clients you want to take on and set your own terms. Sounds like a dream, right?

Well, it's not just a dream - it's a reality for businesses that have mastered the 12 principles of becoming oversubscribed.

I learned these principles from David Priestly, who has extensive experience coaching successful businesses across various industries for more than 10 years, and distilled these gold nuggets - the common themes among them.

Today, let me share what I’ve learned with you to help you explore how you can apply them to your own business. (I’m practicing too!)

Principle #1: Only Oversubscribed Businesses Make a Profit

The first rule of becoming oversubscribed is that you must be in a position where demand outstrips supply. When there are more buyers than sellers, that's when you can start to make a real profit. Look at industries like airlines and grocery stores - they operate 7 days a week, have high capital costs, and focus heavily on customer service, yet they only manage profit margins of 3-7%. In contrast, a brand like Rolex can command 70-80% profit margins, simply because they have cultivated an oversubscribed position where customers are willing to wait 18 months for their products.

Principle #2: Your People Are the Only People That Matter

It doesn't matter how big the overall market is - what matters is your market. Your market consists of the people who know, like, and trust you. It takes an average of 7 interactions and 4 touchpoints before someone becomes a loyal customer. Every single one of those people who you build that connection with is part of your market.

Principle #3: First, Make a Market, Then Make Your Sales

Successful oversubscribed businesses don't just start selling - they first focus on building a base of interested prospects. A great example is the Glastonbury music festival, which requires people to register their interest for 364 days of the year, before opening up ticket sales for just one hour. This allows them to build a pool of 700,000 interested fans, before releasing a limited number of 140,000 tickets.

Principle #4: Meet People Where They Are, Not Where You Wish They Were

As business owners, we often wish that our customers cared as much about our products and services as we do. But the reality is, customers have their own wants, needs, and frustrations. To become oversubscribed, you need to deeply understand your customers' worlds and meet them where they are, not where you wish they would be. Sell them what they want, and then deliver what they need.

Principle #5: People Buy When the Conditions Are Right

For a customer to make a purchase, three key conditions must be met: logic, emotion, and urgency. They need to logically understand why your offering makes sense, emotionally feel safe and desired, and experience a sense of urgency to buy now. When these three elements align, that's when the "Stampede" happens, and customers line up to do business with you.

Principle #6: People Buy What Other People Want to Buy, Not What You Want to Sell

We are heavily influenced by social cues and the buying behaviors of our peers. If your marketing focuses on what you want to sell, rather than showcasing examples of other people buying from you, you're likely to repel potential customers. Instead, emphasize the success stories and case studies of your existing customers.

Principle #7: People Don't Spend Big Money on Small Problems

To become oversubscribed, you need to solve big problems for your customers, not just small ones. Don't think about your business as solving a narrow, specific need - think about how your offering prevents an entire domino effect of negative consequences. The more significant the problem you solve, the more customers will be willing to invest in your solution.

Principle #8: People Are Not Proactive