(2007-09-05) Godin Scarcity

Seth Godin on the Scarcity of Scarcity. The best way to make a profit is by trading in something that's scarce... If it's remotely digital (like music), then it's easy to mimic. And if it's easy to mimic, someone wins if they can knock off the original--the sooner the better. When someone starts to sell exactly what you sell but for half the price, how long does your good-service, first-mover, nice-person advantage last?... So what's scarce now? Respect. Honesty. Good judgment. Long-term relationships that lead to trust. None of these things guarantee loyalty in the face of cut-rate competition, though. So to that list I'll add this: an insanely low-cost structure based on OutSourcing everything except your company's insight into what your customers really want to buy. If the work is boring, let someone else do it, faster and cheaper than you ever could. If your products are boring, kill them before your competition does. (Business Model)