Once there was a man who saw an ad of a freezer at a crazily ridiculous price of $50. It was unimaginable, a freezer being advertised for $50. But, a smart man as he was, he wouldn’t let this offer pass him by. He knew what the average price of a freezer was — around $500. He was glad. “Yes, I would save $450,” he rejoiced.
He dialed the number on the ad, and ordered for the freezer.
Deal closed. He was happy!
Soon, he got the freezer and put it to work.
On the first day, he wanted to remove something from the freezer and got shocked. It was sudden and unexpected. “Well,” he said, “something must be wrong somewhere,” as he left it and rushed out.
He returned home and in a hurry, went to pick a bottle of water from the freezer, and for the second time, he got shocked.
Furious, he picked his phone and rang the freezer seller.
“Hey, what kind of freezer have you sold to me? I get shocked every time I lay my hand on it.”
“Oh, the freezer?”, the seller remarked, “It shocked you? Weren’t you shocked when you got to pay $50 for a $500 worth freezer?,” he said hysterically — laughing uncontrollably.
Often, most people behave like the freezer buyer. They hunt for free things, or at best always looking for the crazy cheapest price. I call them booty hunters and gold diggers.
While it is not bad to be prudent and try to cut cost. Hunting for the cheapest and seeking free offers will hunt you, and you will end up disappointed and shocked, just like the man who thought he was smart buying a $500 worth freezer for $50.
When you try to play smart by under-pricing a product or service, often what you get is a crap, wrapped in coated brass sold to you as gold.
This applies to virtually every aspect of our lives, including business. An employer who thinks he is smart by underpaying his workers is just shooting himself on the leg and would soon be shocked by the mediocre job his employees would do for him.
If you are a business owner and you sacrifice quality materials or tools and process for lesser cost, you would soon be shocked and may not be able to sustain your business as customers would soon realise the inferiority of your goods and services and move to your competitors. To demand for quality or value you have to pay the price.
People respect those that pay the actual value of the goods and services they offer. And this is same for personal growth and development. You need to invest to reap, grow and nurture to harvest, and your output often is determined by your input and the process. A friend of mine spent almost $4,000 on premium courses and trainings in 2019. When she talks, her community listens. She’s paid the price. She got immense value. She disseminates value.
When you are genuinely interested in a product or a service and you hear or see the price attached to it to be ‘high’, before you turn away, look at it from the angle of the VALUE and ask yourself one thing:
Would this product or service give me the maximum Return on Investment?
If yes, then strive to go for it.
Remember,
What you SOW is what you will REAP
Your INPUT determines your OUTPUT; and
VALUE trumps PRICE.
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