Monday Morning Motivation – Price
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.
When it comes the marketplace, there are three key numbers that come in to play:
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!
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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