Price & Value - Gaining Perspective With Phil Learney

“My favorite things in life don’t cost any money. It’s really clear that the most precious resource we all have is time”.

Steve Jobs

I’ve never been one for brands. I have never seen the point in buying a pair of jeans that cost me 6 or 7 times what they would cost from someone else when the quality is no better all it has is some hideous logo emblazoned on it or some Italian gentleman’s name on it.  One thing I will do however is put a price on quality.

If I take my diet as an example, the first comment people generally make when I tell them what I eat is with reference to the price it would be to eat that way. What I saved on the jeans paid my grocery bill for a few weeks…. If you want to understand and succeed in the real world you must start to differentiate between, the price, cost and value of something.

“What is a cynic? A man who knows the price of everything and the value of nothing”.

Oscar Wilde

If we start putting a price on the things that we essentially live by, what we eat and how we live our lives the cost will be dear!!

Now what relevance is this?

I hear a lot of people tell me about ‘time’ and how they don’t have enough. One trick I learnt a long time ago as a trainer was to give my clients a TV guide a highlighter pen and colour in everything they’d watched in a week. As far as I’m concerned THIS isn’t quality time. Quality time is when you get something positive or of value from it. Family time, work, education, helping others etc.

I’m in a business and as much as I love what I do I want to make sure my kids when I have them have a comfortable upbringing and a good solid education. That means I need to be busy, need to earn a good living and I need to be good, no great with time management. I understand the cost of not doing this and the value of it in the long run. The price I pay is pretty minimal.

I’m busier in life than I’ve ever been but I am also more productive. Read ‘The four hour work week’ by Tim Ferris and you’ll get a better grasp of what I’m getting at.

I’ll let you in on the fact. I have never owned a television for the simple fact I don’t have time to watch it and also the fact that every time I consider one I look at the cost and value. I’m not talking price here directly but this is how I look at it:

Television will cost me:

  • Minimal of 2 hours a day.
  • 2 hours a day of sitting down doing nothing.
  • 2 clients I can help.
  • An article I can write (that could help a LOT of people).
  • 2 hours with friends or family
  • 2 hours of food prep (not that I need that)
  • A phone call to people I’ve lost touch with.
  • A training session.
  • Sleep
  • Brain cells possibly (joke…. maybe)

You get my drift?

Price and what it costs:

  • A holiday
  • A gym membership
  • A new website
  • An investment
  • Gifts to say thank you.
  • Training sessions
  • Educational sessions
  • High quality food and supplements
  • Health checks

Again…getting the idea?

This is one thing I could relate it too, never mind video games etc. What value do I get?

I will own a television at some stage of my life, as I believe it does have a good amount of educational value certainly in our formative years. I remember watching films and documentaries as a kid and learning a lot and also the enjoyment I got from cartoons and the likes. As an adult with a clear idea of what interests me and I like to do in my leisure time there are VERY few documentaries that are relevant to what I do. The shows like ‘The Biggest Loser’, which aired earlier this week just, serve to frustrate my industry (or those that are actually good in my industry). I love films and they play a large role in my ‘switching off’ and leisure time but I will hit the big screen for them.

I hope you’re getting my point with this and it’s just really a short piece to get your brain working at this, often highly motivated time of year. What sparked me to write this was I saw a post from one of my colleagues who does some online training. He put a promotional post up. One of the first comments was ‘Looks expensive’. My colleague is a superb trainer and what he charges in my view is VERY cheap for what he offers. For someone not to beg the question ‘What do I get?’ first is crazy and almost dismissive and I saw it as even a little rude. I could be wrong but thing about the 3 key things…COST, VALUE and PRICE.

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