I was looking at a couple of new startup stories and also few old time successful businesses recently for sharing on Venturepapa. On observing traditionally successful business models there was a very apparent observation: they are selling dreams!!
The luxurious Taj Hotel by Tata’s is a dream for vacationers looking for a royal stay, Flipkart tapped the indian dream of online shopping and became a name synonymous with online shopping, Apple sold a dream of easy to use home computers back in 90’s.
When Tata group launched first Taj hotel in India, it visioned a time when people would love staying in luxurious hotels for leisure and business meetings. This vision met a dream of people with deep pockets who never found a world class hospitality in India. And Taj became a name for luxury.
This small four liner detail about Taj tells a deep psychology behind successful businesses:
1. They identify the market gap. They look at what is there in market. Next, they see what’s not good about it, I mean seriously not good about it. Then they gauge the difference it would make if they turn the game and focus on making the not so good part GOOD. This is identification of that dream. This is connecting with people who live that dream.
2. They create solutions. Well with the last step, they know the dream. They know what would make hundreds of thousands of people jump with joy. So, they now focus on solving the problem and removing obstacles from reaching that dream.
3. They sell the solution like a dream. Have you ever noticed some advertisements takes you in a state of complete awe. You are lost in it and feel the strong desire to check that out, NOW. Well that is the impact of selling a dream. When you see something you desire, you feel mesmerized and completely absorbed in it.
Have you applied and tried these techniques to your business and start selling dreams. Let us know in comments below.