Friday, February 1, 2008

Supply and Demand

I was in the barbershop today flipping through a recent issue of Stuff Magazine while I was waiting, and came upon a piece they did on “How to Dominate the Competition Before Age 30.” Being 28, and in a position to affect change in the auto industry, I took special interest in this column just by reading the title. In the article, they gave a ranking of well-known men in such professions as music, athletics, acting, and business.

After listing the qualifications for the rank they assigned each man, they supplied a quick one or two line quote from him. One of the quotes that garnered a raise of the eyebrow was from a rap artist named T.I. His quote was this,

“You have to create a demand and then supply it. You must make it so the market can’t function right without you.”

Although he’s referencing the music industry, I identified with it for two reasons that are specific to what we’re doing at Local Motors:

1) “You have to create a demand and then supply it.”

For a car to be really successful at any price point (particularly 40-50k+ range), the “I have to have it!” factor must be present.

2) “You must make it so the market can’t function right without you.”

Change the game with your product design, method of manufacturing, and the way you conduct business with such impact that other manufacturers in the market can’t function at your level without modeling the practices after those which you engendered.

1 comment:

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