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Monday-Morning-Motivation

Monday Morning Motivation – Price

Curt Stowers
June 29, 2015
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(Sharing Resources to Help You Grow Personally, Professionally & Financially)

Sometimes it helps to get a little dose of encouragement — along with a good cup of coffee! — to start the day.

Hopefully the message below will help you get off to a good start for the week.  Please feel free to forward the newsletter on to others that you think would benefit from the content.

Price

When it comes the market place, there are three key numbers that come in to play:

  • Cost
  • Price
  • Value

Traditionally we think of the cost to produce a good or service, the price that we must pay for the good or service, and the value that we receive from the good or service.  If value > price > cost, you have a good business model.

But what if we look at time with respect to cost, price, and value?  I would offer the following in regards to time:

  • Cost is the amount of time that you spend on any activity.  Time is NOT relative, it’s absolute.  One minute is the same for you as it is for me.
  • Price is the experiences that you forgo while spending your time.  It is those things that you are NOT able to do.
  • Value is the experiences that you have while spending your time.  It is those things you ARE able to do.

So I’d argue that you have a “good” life when the experiences that you have are worth more to you than the experiences that you forgo.

That leads us to today’s question:

  • Are you getting the appropriate value out of the price you pay for your time?

Thanks for sharing a bit of your time with me this Monday morning and I wish you all the best for the week.

Curt

(I had a little fun with the “right brain” / “left brain” debate in this week’s blog post “Is Your Advisor In Their Right Mind“.  Check it out — it may raise some interesting questions for you!)

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