Your plane had just crashed, and you appeared to be safe. After the initial shock went away, you realize something. You are on an isolated island and there is nothing else on the horizon. “Apparently, I will be stuck here for a while” you thought to yourself.
Then you look around and you realize, there is someone else on that island. And this person had a shop. What a strange situation isn’t it.
You are starving and today might be not such a bad day anymore, since you have 20 golden coins in your pocket. You went to the merchant and ask to buy one of the amazing tuna sandwiches he is selling. You will give all your precious golden coins for it.
The merchant looked at your offer, and shrug shoulders. After that explained to you that this sandwich costs around 10 rear rocks from the other side of the island.
You looked confused. Since everywhere in the known civilization, 20 golden coins are a lot of money, but apparently here, no one care about that.
You were still hungry and the seller price was non-negotiable. You throw away the heavy golden coins and start walking towards those rear rocks. For a while you needed to get used to this new currency, to survive on this island.
This short story reveals that scarcity is a good thing only when the people agree that it is a good thing. Having the last copy of a business magazine might not increase your bank account when you try to sell it.
Having the last copy of the first edition of a collectible will!
It is all about the perspective and the opportunity. First try to convince as many people as possible how this last or rear thing is worth the money before continue with selling it and that is how you will create a value in the scarcity.
Solution Engineering Manager at Thales | Senior IT Professional | Startup Mentor and Product Manager