Cost Vs Value
Let’s look at cost versus value, and where do you focus your attention?
Now, for several years, I ran my business on the basis of cost, so the cost of any goods or services were always viewed in terms of what they cost and not the actual value they gave me.
Of course, this meant that any goods or services I needed, and I did need them, was always dictated to by how much it was going to cost me.
I was in the mindset of, oh, I thought it was going to be cheaper than that.
I bet that resonates with so many people watching this video.
Now, because I was looking at cost, I was not getting any value. But fast forward to now, and I see things based on how much value I get.
Now, you see, you need to start asking yourself, what is the cost of not doing this?
So a project or service may have a low cost, but does it bring you value?
So think of it this way, I may spend $40 or £40 on a few courses to learn how to advertise on Facebook, for example. That may take me two weeks or so to figure everything out, but the true cost is more than $40 or £40.
What about the time on the course? The time away from the business? So you could spend $1,000 or £1,000 on individual coaching and get up and running in a day.
So actually, which holds the greater value?
So your business and your future decisions really cannot be solely based on cost without analyzing the true value of a product or service.
So that’s my message for today, think about the value over cost. Thanks all, speak to you soon.