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The Problem With Having Few Choices

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We get impatient or just leave.

There are plenty of companies that are creating incredible products.

The problem for some of these companies is that they don’t offer enough choices. That company might have come out with a product you have been using for 5 years, but it’s been 7 years ever since they introduced a new product. Basically, it takes a long time for new choices to become available.

When consumers see the choice selection for the first time, they have two choices.

They either buy a product (or more than one) and get impatient waiting for the next product to come out, or they just leave because the guy across the street has more options.

In addition to that, if the consumer doesn’t like your options, they won’t buy. With fewer options, you are narrowing your list of consumers down to a specific subset.

 

The Advantage Of Having Too Many Choices

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We get trapped and stick around for a while.

If someone wants to buy 100 books, but that person could only get 5, it takes a lot of time to decide which 5 books are the best. The other 95 are rejected, but since they were also good, the consumer comes back whether it would be a week, month, or year later to buy more books.

With more options, consumers have to closely examine each option. They are more likely to come back and buy more of your products.

When deciding among 10 products, a consumer may be able to make a quick decision. However, before the consumer makes a purchase, he might see another product that he wants to buy. People don’t leave, but instead they stick around. When they leave, they are sure to come back.

 

The Problem With Too Many Choices

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We get trapped and overwhelmed.

If there are 100 books that you like, you can’t buy them all now. You have to make a choice.

What if you could only buy 5 books, but each of those 100 books are special in their own way? Rejecting 95 of thos books would be an overwhelming process that could take hours. It isn’t as easy for the consumer to just flip a coin and base their decision on luck. Consumers weigh all of the options before making a final decision.

The less choices people have, the smaller the weight is. If a consumer has only 5 choices, that person only has to lift a 5 pound weight. If a consumer has 50 choices, that person has to life a 50 pound weight.

The 5 pound weight is easier to lift than the 50 pound weight. Make it easy for your consumers to make choices. The faster they make a choice, the faster they will buy one of your products. Giving a consumer too many hoices haults the process.

Take A Risk

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Every day, you should be doing at least one thing that you’re afraid of. If you did more than one thing you’re afraid of every day, that’s extra credit.

People are afraid of taking risks because they are quick to think of the negatives. If the product gets changed, people are quick to see the negative point of view such as losing clients and sales.

It’s better to be risky than it is to be safe. Every successful entrepreneur took some kind of a risk. Seth Godin took a risk with his self published book, Purple Cow when he gave away a milk carton that looked like his book for free. The risk paid off, and Seth got himself a publisher again. Now it seems as if all of his books become bestsellers.

Risky is the new way to dominate business. Safe isn’t safe. Safe is dangerous.

Going After Sales On A Blog

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Is the wrong approach.

Going after subscribers is the right approach.

The subscribers are more likely to remember who you are since you provide free content.

Not all of them will, but some will tell their friends about your blog.

Your subscriber count goes up.

You offer something for free to your subscribers.

Your subscriber count goes even higher.

Soon you have thousands of subscribers.

Let’s say you get 5,000 subscribers and only 10% of those people buy your product. That’s 500 sales!

Now let’s say you had 100,000 subscribers and only 10% of those people buy your product. That’s 10,000 sales!

Even if you got a sale by going after the sale, you won’t get a returning customer. They’ll forget about your blog and look at a similar one.

You don’t get sales by going after the sale. You wait for your subscribers to look at enough of your content until they decide what you’re selling is actually worth buying.

 

The Leading Domino

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When the leading domino falls, all of the other dominos follow as well. In a team, everyone is needed. Everyone is the leading domino because everyone has a different perspective and brings different ideas to the table.

When the leading domino falls, everyone loses. The result is scattered dominos on the floor that aren’t standing up. They’ve fallen.

However, as the leading domino falls, other dominos will try their best to prevent others from falling. In some cases, when the leading domino gets pushed, not all of the dominos get knocked down. Some are left.

Even when a team or business is crumbling, there will be people who try to keep the domino structure up and alive. Those are your true teammates or clients. The others are just dominos waiting to fall. Optimism beats pessimism, and optimism eventually beats adversity in the long haul.

When a domino structure falls, it’s time to start over. There are going to be some dominos that didn’t fall. Those are the ones you keep. The next step is finding similar dominos. Then, you form a new domino structure, and it is that structure that will be successful for a longer period of time than other domino structure.

Who are your leading dominos?