Scarcity: it's a red flag as a company's driving force. Scarcity in the market place is a man-made construct, and since the marketplace is made of people's wants, needs and desires, people are the key driver.
We all know that true scarcity is only real in certain situations and getting rarer all the time.
This is why instead of creating false scarcity in the marketplace, Dean Sutton has decided to build relationships and then build companies out of those relationships.
When was the last time you leveraged your relationships to build businesses? While the lemonade stand you made with your neighbor during your childhood doesn't quite pay the bills now, you can listen in to see how you can use Dean's advice to help pay the bills that lemonade stand never could.
People First, Tech Second: How to Close Massive Deals with Dean Sutton
Time stamped show notes:
[:53] Introduction to Dean Sutton
[2:51] How things came to be for him. How bigger things came through after he was successful.
[7:34] Got research from NASA that said you could get many biomarkers from a single drop of blood
[8:39] Merged two companies [BloodReader Technologies and Shield Technologies] to create Insight Diagnostics.
[10:23] Leadership lessons in regards to time and idea validation.
[15:18] People get hung up on the idea, and operate out of fear.
[17:14] Red flag when he’s [Dean] looking at a business venture: when scarcity is the driver
[22:47] The only reason why you can close a deal is because you built a relationship first.
[24:45] We’re wired to see what’s wrong in a situation.
[25:20] Event + Response = Outcome
[30:25] If you look at anything you do in life at scarcity, you will act under pressure.
[30:59] How Dean approaches the art/science of relationships
[32:00] Able to forge relationships that became companies
[32:17] Understanding people is a better strength than understanding technology
[32:23] All businesses exist to serve people
Three key points:
- A red flag is when people work based on scarcity.
- Event + Response = Outcome
- Understanding people is a better strength than understanding technology.