"Value is perception based"

How often have you thought to yourself, "that is too expensive"?

I have, often.

How often have you based your decision on something you are investing in based off the cheapest option? Or at least... what is cheaper than the most expensive option?

I have, often.

Let's have a quick chat about value vs money.

Both are perceptions.

Meaning...both of these things are based on our own thoughts, feelings, emotions, and past learning/programing that led us to our current belief.

This does not dismiss the very real truth that sometimes...things ARE outside of our budget.

What I want to play with here is, IF, something is within your means, and you are still making your decisions based on the cheaper/est option. Making it a money decision.

Very frequently when I peruse local Facebook groups or hear people ask for advice, I hear this (said in my own words) ... "I want to get the best value for said thing, but for the cheapest price"

Said another way... we want to find who does the best work, yet we want to pay them the least we can. OR... what our perception of affordable could be.

It took quite the reframe and years of being a business owner to shift my own understanding of how I go about this same issue I am bringing up. (I don't use this all the time, more about that later)

And it is OK to think this way. Many of us grew up with a poverty mindset. We grew up pinching pennies and trying to save a buck where we could.

I know I sure did. and STILL DO.

What if we understood money as value and asked who is going to do the best job to get me where I want to go or get me what I am asking them for?

What if that value was understood as something we give our own value and energy back for?

Meaning... if we believe we are getting the best value for our money, what if we decided to pay for the best value, rather than trying to find the cheapest option?

Often, the cheapest option isn't going to be the best option. "You get what you pay for" we've all heard it.

The same argument can be made on the other end of this...

Often, the most expensive option can also not be the best value.

SO, WHAT ARE WE TO DO?

My advice, communicate.

Rather than price shop, ask yourself this...

What are you needing?

Do you believe the person/business giving you that thing will follow through with it?

What is that person/business value they are giving worth to you?

Is it worth it to you if they do the job the best and are priced higher than the cheapest/er option that does a subpar job?

If you do decide to move forward based on that, do you believe in what that business is doing? Do you want to support it?

Rather than asking yourself how to get the most value for the cheapest price, what if we understood value exchange?

Our time is energy. We get money in exchange for our energy at our jobs. (Some figure this out and have their money make them money without their time required, that's another conversation.)

We then ask other people to give us value for our energy.

Their energy (time) is how they produce that value.

Build a relationship with the person giving you the value.

Then... with trust and willingness established, and due diligence of course...

We can continue with a decision that is an equal exchange of energy and value and we can get where we want to go.

Challenge yourself here when you can... if you're asking for high value, give high value back.

Avoid taking from someone else in exchange for the benefit of yourself.

Careful with the "too much time", "too much money", "what is the best?" type questions/statements. These aren't specific and purely perception/opinion based responses.

Someone else's "too expensive", may be lower than your "too expensive".

Why would you want someone's opinion on the "best oil change for a decent price" in town when you could get the exact price of the oil change with your same question, said differently? (Hey, who does the best oil changes for a price I can afford, 40$?) Also, that first question there is a great example of asking for high value and giving little back. What is "decent pricing"?

Practice this where it matters to you.

Service/value based small businesses are my go-to, what are yours?

See ya out there,

Coach D.