Dien Rice
August 12, 2022, 07:28 AM
Hi Gordon,
I like how you think!
Definitely we need to get our STORED VALUE, whether physical stuff, skills, knowledge, and/or experience, into the marketplace...
I think where a lot of people have problems is regarding confidence... People don't feel confident that what they know is "worth" something...
I feel like that sometimes too! So that's a (purely psychological) hurdle some of us have to get over...
I just thought I'd share that thought...
How does one gain confidence regarding their own skills, experience, and knowledge?
I'm asking less for myself (though undoubtedly I'll benefit), but for the "everyday" man and woman...
Thanks for sharing your wisdom!
Best wishes,
Dien
In this work, I touch upon Market Value.
Today, I'll examine it in a different way. First, how do you value your time? I'm speaking of work/money making time. Approx 40 to 55 hours per week for an employee, and at least that much, in the beginning for a self employment person.
I set my work time at 100 dollars per hour. In that 40 hour week, if I do it, I expect a 4000 dollar gross from the time spent. Although, I can't remember the last time I worked that hard or that many hours...being a retired lazy old fart who would rather feed the squirrels than deal with people.
In the scores of people I have worked with over the years, what I've found is that most folk, UNDERvalue their time, and on the other side of that is: they spend too much time to build up to their value level.
If you are working 50 hours a week to set something up and it takes two months with minimum returns...then maybe you haven't planned things very well.
In addition to your TIME having a specific value (currency wise), your product or service has a VALUE in the marketplace too.
What is it? Well, market value is often perceived value, or whatever people are willing to pay for it...and it could be an average, where one person pays you 500 and several others only 250, so the perceived value also depends on your TARGET audience.
Take golf for example. I sold, at the time, expensive sets of clubs, near 1,000 bux (which today, isn't even on the high side) when most good sets of clubs were about 400 to 600 dollars.
Soon after this, DRIVERS became a hot item, with them selling for several hundred dollars. Today, a committed golfer may easily spend 1500 or more on a decent set of clubs.
However, at the Country Club level, especially those with older money...there is an ability to buy as often as you want, to upgrade to the latest and greatest thing. In my days, we kept our favorite set for decades, but today, especially with the wealthy/affluent, they flip clubs like cards in a poker game.
As most of you know, I'm goal or target oriented. In GOLDFISH, my name for it, Peter was given a goal, PAY THE TAX.
In the market, we can set FINANCIAL goals, or targets, and once we have those in sight, then we can PLAN on how to reach them, what is going to be our action and how many hours do we need to make it work or keep it going.
In addition to Market/Perceived value, we have concepts like STORED value, that is basically what the Original Chattel Report was about...and it is the concept behind craigslist, ebay, facebook marketplace, amazon..all ecom.
Our junk in the basement; those baseball cards, those 100 marketing books, those gizmos we had to buy when we joined that dang MLM...all that stuff, could be converted to cash so it has stored value.
I've taught that CIRCULATION beats storage every day of the week.
The more of ___________ whatever, you have circulating in the market, the more currency flows your way.
And this stored value, goes to SKILL, KNOWLEDGE and EXPERIENCE too, and as I harp on and on, get it out of your brain, turn it into bits and bytes, and sell baby sell. Your life experiences have value, and rather than being potential energy, take action, and convert to kinetic energy...movement.
Move out of your mind and into the market.
If you don't want to sell the bits and bytes of your experience, maybe there are ATOMS, or real things which your market buys and you can either create or source and flip it to a ready to buy market.
Thoughts?
Gordon
I like how you think!
Definitely we need to get our STORED VALUE, whether physical stuff, skills, knowledge, and/or experience, into the marketplace...
I think where a lot of people have problems is regarding confidence... People don't feel confident that what they know is "worth" something...
I feel like that sometimes too! So that's a (purely psychological) hurdle some of us have to get over...
I just thought I'd share that thought...
How does one gain confidence regarding their own skills, experience, and knowledge?
I'm asking less for myself (though undoubtedly I'll benefit), but for the "everyday" man and woman...
Thanks for sharing your wisdom!
Best wishes,
Dien
In this work, I touch upon Market Value.
Today, I'll examine it in a different way. First, how do you value your time? I'm speaking of work/money making time. Approx 40 to 55 hours per week for an employee, and at least that much, in the beginning for a self employment person.
I set my work time at 100 dollars per hour. In that 40 hour week, if I do it, I expect a 4000 dollar gross from the time spent. Although, I can't remember the last time I worked that hard or that many hours...being a retired lazy old fart who would rather feed the squirrels than deal with people.
In the scores of people I have worked with over the years, what I've found is that most folk, UNDERvalue their time, and on the other side of that is: they spend too much time to build up to their value level.
If you are working 50 hours a week to set something up and it takes two months with minimum returns...then maybe you haven't planned things very well.
In addition to your TIME having a specific value (currency wise), your product or service has a VALUE in the marketplace too.
What is it? Well, market value is often perceived value, or whatever people are willing to pay for it...and it could be an average, where one person pays you 500 and several others only 250, so the perceived value also depends on your TARGET audience.
Take golf for example. I sold, at the time, expensive sets of clubs, near 1,000 bux (which today, isn't even on the high side) when most good sets of clubs were about 400 to 600 dollars.
Soon after this, DRIVERS became a hot item, with them selling for several hundred dollars. Today, a committed golfer may easily spend 1500 or more on a decent set of clubs.
However, at the Country Club level, especially those with older money...there is an ability to buy as often as you want, to upgrade to the latest and greatest thing. In my days, we kept our favorite set for decades, but today, especially with the wealthy/affluent, they flip clubs like cards in a poker game.
As most of you know, I'm goal or target oriented. In GOLDFISH, my name for it, Peter was given a goal, PAY THE TAX.
In the market, we can set FINANCIAL goals, or targets, and once we have those in sight, then we can PLAN on how to reach them, what is going to be our action and how many hours do we need to make it work or keep it going.
In addition to Market/Perceived value, we have concepts like STORED value, that is basically what the Original Chattel Report was about...and it is the concept behind craigslist, ebay, facebook marketplace, amazon..all ecom.
Our junk in the basement; those baseball cards, those 100 marketing books, those gizmos we had to buy when we joined that dang MLM...all that stuff, could be converted to cash so it has stored value.
I've taught that CIRCULATION beats storage every day of the week.
The more of ___________ whatever, you have circulating in the market, the more currency flows your way.
And this stored value, goes to SKILL, KNOWLEDGE and EXPERIENCE too, and as I harp on and on, get it out of your brain, turn it into bits and bytes, and sell baby sell. Your life experiences have value, and rather than being potential energy, take action, and convert to kinetic energy...movement.
Move out of your mind and into the market.
If you don't want to sell the bits and bytes of your experience, maybe there are ATOMS, or real things which your market buys and you can either create or source and flip it to a ready to buy market.
Thoughts?
Gordon
