The Hot Dog Story
Loved this story, I thought you might enjoy it too (book extract).
A marketing professor asked his students, “if you were going to open a hot dog stand, and you could only have ONE advantage over your competitors… which would it be?”
The students replied quickly:
𝐋𝐨𝐜𝐚𝐭𝐢𝐨𝐧
𝐐𝐮𝐚𝐥𝐢𝐭𝐲
𝐋𝐨𝐰 𝐏𝐫𝐢𝐜𝐞𝐬
𝐁𝐞𝐬𝐭 𝐓𝐚𝐬𝐭𝐞
𝐌𝐨𝐫𝐞 𝐒𝐚𝐮𝐜𝐞
The students kept going until eventually they had run out of answers.
They looked at each other waiting for the professor to speak.
The room finally fell quiet.
The professor smiled and replied:
“A Starving Crowd”
You could have the worst hot dogs, terrible prices and be in a terrible location, but if you’re the only hot dog stand in town and the local college football game breaks out, you’re going to sell out. That’s the value of a starving crowd.
At the end of the day, if there’s a ton of demand for a solution, you can be mediocre at business, have a terrible offer, and have no ability to persuade people, and you can STILL make money.
Moral of the story. You can sell quickly, easily and efficiently when you have a hot market.
The same goes for your skills.
If you’re an engineer, a copy writer, a software developer or coach — make sure you market yourself to a HOT market.
Trisha Fulton
