It’s Not About the Price
Summary
- Always focus on the value of what you're getting, not just the price.
- If you know something will be worth double what you invest, like getting $2 million back from $1 million, you'll find a way to make that investment.
- The same applies to buying a Ferrari for $5,000—it may seem a lot, but relative to the value of the Ferrari, it's nothing.
- Everything you buy should be looked at in terms of the value you get in return.
Video
How To Take Action
I would suggest implementing a mindset shift first: always focus on the value of what you’re getting, not just the price. Here are a few ways you can put this into action without spending much time or money:
Reevaluate Current Investments: Take a close look at your ongoing expenses and investments. Ask yourself if they bring back more value than they cost. If not, consider reallocating those resources to something that provides higher returns.
Value-based Decisions: When making new purchases or investments, don’t just look at the price tag. Think about the potential value it can add to your business or personal growth. For example, if a $500 course could significantly enhance your skills and boost your income, it’s worth much more than the price.
Leverage Low-Cost, High-Value Opportunities: Identify low-cost opportunities that can have a high impact on your goals. This could be networking events, free online resources, or volunteer experiences that provide valuable insights or connections.
Mindset Shift in Deal Making: When negotiating deals or purchases, focus on the relative value rather than the absolute cost. If a service or product can significantly boost your business or personal growth, consider it an investment, not an expense.
Continuous Evaluation: Regularly assess the value you’re receiving from your investments. This helps you stay aligned with your goals and ensures you’re maximizing returns.
By focusing on value and not just cost, you can make smarter decisions that propel your business or personal growth forward without needing substantial upfront investments.
Full Transcript
everyone's trying to buy things where they get a good deal so the price actually doesn't matter if someone says I will give you $2 million if you give me $1 million today you will find a way to get a million if you know that you're going to get 2 million if I say hey I'll give you my Ferrari for $5,000 $5,000 is a lot of money but relative to a Ferrari it's nothing it's not about how much it is it's about the value you get because everything is in relation to value
