How to measure value
A private island is valuable even if no labor was spent on it. And Picasso’s five-minute scribble on the napkin is worth a lot. Forget the textbooks – In the market, spent inputs do not automatically equal value, especially not perceived value that clients are ready to pay for.
The only thing worse than training your employees and having them leave is not training them and having them stay — Henry Ford, Founder, Ford Motor Company. Usually, when we want to explain the value of a service, we focus on the change it would bring to the client – return Read more…
Like any part of an author’s voice, artistic choices can be affected by strange and unexpected boundaries. When I was in high school, we always had the most “interesting” time debating the teacher why the authors of Russian classics like Dostoevsky or Tolstoy felt the need to use five pages just Read more…
What new and exotic variation of a known thing looks vaguely like a crown, and changes people’s lives? If this was the 17th century, the answer would be the pineapple. A single piece would cost a literal fortune just to rent out for a party, where it would just be Read more…
Compared to stone, water is amazingly flexible, and you can do many useful things with it, but you cannot build with it. For all of its amazing properties, its fluid nature works against you when you try to keep it in one place – it simply can’t form a solid Read more…
“Pricing is actually pretty simple… Customers will not pay literally a penny more than the true value of the product.” – Ron Johnson Thing is, the quote can be true – but only in a world where everybody understands everything, which is obviously not planet Earth. An expert’s value is directly proportional to Read more…