What Makes Something Valuable For Customers? Just these TWO Things!

What creates value? What makes one thing valuable and something else invaluable? What makes one product or service more valuable than another? Or, what makes one job more valuable than another? Well in fact, it's all pretty simple...

Show Notes

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Transcription

What creates value -- whether it's a job, a product, a business, or anything else -- is just two things: 1) Rarity, and 2) Demand. An item, a job role, or a business has to have both of these things in order to have value.

If something's rare, that doesn't automatically mean other people will value it. For example, nobody's interested in your one-of-a-kind paper machee kitten sculptures! Hey, they are indeed rare and one-of-a-kind...but that doesn't necessarily mean they're valuable.

In order for them to have value, other people have to want them. And generally speaking, the more people that want it -- the greater the number of buyers -- the more valuable things become.

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Oddly, very often us humans value things that other people value...only because other people value them! We don't know WHY we value what we do or want the things we want...and often it's only because other people want them! It's because we're all crazy!

Now as far as what people value, again, they value what the other primates value, but we also value things that are useful, don't we? We value useful skills, useful materials, useful information, useful products, and so on, right?

And something is useful when it fills a need and solves a problem. This could be a need of utility -- say like food or a car -- or it could be filling the need of status -- not just ANY car, but an Audi or a BMW, right?

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Geoff Blake, Ten Ton Online

Hey there, I’m Geoff! Business, marketing, and the web can seem like a tangled, confusing mess, right? Well if you wanna get clear, straight info on all this stuff (no gimmicks or hypey nonsense)...then you're definitely in the right spot! Start here (free!)