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. Today we discuss "price".

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

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Price

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When it comes the marketplace, 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 regard 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’s those things that you are NOT able to do.
• Value is the experiences that you have while spending your time. It’s 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 you forgo.

 

That leads us to today’s question:

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

 

Have a great week!

Curt

 

About MMM: Each week I publish “Monday Morning Motivation” in the hopes that one person will find a bit of inspiration and that inspiration will have a positive impact on their life. My motivation comes from experiences, reading, sermons, and discussions.

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Blog post from this past week:

Monday Morning Motivation - Afford