As business owners, making money is our main job, yes because without a consistent flow of money coming into the business, we would have to close up shop sooner than later.
But, it’s not about the money itself, money is just a thing that makes exchange easy
Think about it this way, someone provides you their thing X and you exchange Y amount of your hard-earned money for it.
On the condition you only exchange your hard-earned money when one thing happens:
You truly believe the value of their thing X is greater than the value of Y amount of your hard-earned money.
So, even though we have trust that money has a static value (more or less) the things we choose to spend our money on depend on our personal values.
The Most Valuable Exchanges
Another way of saying it is this:
People don’t fundamentally care about money, they care about the experiences, providing for their families, their team members, or making a positive impact on the world.
Money is just a simple tool that makes doing all the things we care about a little bit easier.
So it’s a business owner’s responsibility to initially create this type of product or service so valuable that it makes someone bypass any doubts of spending money.
What happens then is that it also helps you, the owner, scale your product or service!
But it all comes back to the fundamental philosophy that the greatest things in life are all subject to each individual.
What happens too often is people start believing “it’s about the price” and it dilutes the effect of their VFP, their Valuable Final Product.
Valuable Products
There are many things in life that money can buy, but experiences and results are two of the most valuable things anyone could hope for, even if it may not seem that obvious.
Experiences shape who we are and possibly even how we see the world, while results achieve a certain type of success.
But what if someone were to create both?
Well, that would be something someone would heavily consider exchanging their money for.
So now it’s just a matter of creating more value for your clients and customers.
Creating Value
Value has been around for centuries, but people don’t look at it as just “value” because when they receive real value, it either feels like a great deal, an obvious choice, or they’re so blown away by it they’re too distracted to think about it.
Take Disneyland for example, when a family wants to go and knows they’re going to be going in the future they buy the annual pass to save money, but that’s not where the real value is…
It’s in the moments (experiences) the parents get to give to their family as well as the memories they will cherish (results) in exchange for the annual pass.
And sure you may pay a lot more for food but you’re at Disneyland, the last thing you want to do is make a bad situation out of a great experience that you’ve already paid for!
Creating value isn’t as hard as some may think, it just takes a little bit of creativity and someone to consult your strategy with.
