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by 4death4 739 days ago
I disagree. For instance, let’s say I’m an auto manufacturer and I need some parts made. If I don’t get those parts, I have to stall my assembly line and lose a lot of money. If I find someone who can supply the parts in a short time frame, then I will definitely fear missing out by declining the sellers offer. If I capitulate and the seller delivers reliably, then I am going to gladly return for their services because they can ensure my business stays running.
2 comments

That’s a good example but I think you’re describing another market condition called a captive market, not FOMO. In FOMO, buyers have no real risk in not buying, it’s artifice and theatrics that drive a sale. Your example is a market in which mission critical assets are sold by few and those few control all aspects of the sale. In your scenario, you’re less a mark for a salesman and more of a hostage.
It’s not a captive market. It’s a market where the buyer has a need and if they don’t have that need met, then the buyer will suffer. That’s FOMO, and that’s when sales happen. If the buyer can sit on their laurels without any negative repercussions, then they’re not going to pull the trigger until their situation changes.
Being one of the last restaurants to close for the night isn't a FOMO sales strategy.
Being the one best suited to meet your customers needs is a sales strategy. That might include staying open late if you can convince people they’re going to regret not tasting your food after a night out of drinking.
You'll get bid, but not from the best suppliers. The goods will read "and if this works out, there will be more business for you in the future" as a red flag. If they're good, they'll be busy. They don't need to grovel for one-off work. Those who will bid on FOMO work are likely not as busy. Or are used to FOMO work (and not for good reasons).

Yes FOMO in your example can motivate. The problem is, not the types you want an LTR with.