Vita's Tip In 10: Cost vs. Value: What To Choose
Hello, friend! Welcome to another episode of Vita's Tip in 10. Today, I want to talk to you about a concept that can revolutionize your window treatment business – the delicate balance between cost and value. In particular, I'd like to share how recognizing the value of your time can help you make more money in your business.
The other day, I had a fantastic conversation with a fellow business owner, someone who has become a friend over the years as we've navigated the world of window treatments together. Our chat started with the usual topics – discussing installation teams, local resources, and various business nuances. Soon, our conversation drifted towards the topic of paying for service versus receiving the value for that service.
My friend shared an experience with me. She had recently hired an outside installer for a project. This was new for her, as previously her husband had handled her installations. To her surprise, by the time she reached the installation site (only 10 minutes into the appointment), the job was practically complete. Not only was it impeccably done, the installer had also cleaned up, leaving her with a professionally installed product and a satisfied client. She hadn't even broken a sweat.
Of course, such seamless service comes at a price. The cost of hiring this expert installer was significantly higher than having her husband handle the installation. Now, let's pause here for a moment. My friend didn't hesitate to pay more for this service because she recognized the value it offered her. The value of her time saved, the freedom it gave her to focus on other income-generating activities.
This brings me to an important point that I wholeheartedly believe in – the value you receive often far outweighs the cost. In our line of work, where every moment counts, understanding the true value of your time can make a world of difference.
I want to share another example. Recently, I've been following a skincare blogger. I'm inching closer to my 50s, and it dawned on me that my trusty over-the-counter skincare routine might not cut it anymore. So, I considered delving into her vast array of skincare wisdom shared in her YouTube videos. I changed my mind when I realized this would entail investing hours watching and learning about retinols, peptides, and the like.
Instead, I chose to pay $200 for a half-hour consultation with her. At first glance, it might seem like a hefty cost. While not a negligible cost, what I'm truly buying is the value of my time. In those precious hours I saved, I could focus on my business, generate more income, and work on activities that I excel in. Plus, I'm supporting a fellow small business owner who invested years honing her expertise.
My message to you is simple: prioritize the value over the cost. When you focus on cost alone, you may miss out on the immeasurable possibilities and opportunities that lie ahead.
So, my friend, next time you find yourself weighing the cost of a service, don't just think about the money spent. Think about the value you'll gain, the time saved, and the potential for growth. Remember that the most successful business owners often pay for services that allow them to stay in their lane and concentrate on activities that truly generate income.
That's a wrap for today's episode of Vita's Tip in 10! If you're eager for more insights on team management, mindset shifts, CEO strategies, or digital project management tools, you're in luck.
You can join my Systems Driven Operations class at LuAnn University – registration is now open! Alternatively, opt for my VIP Experience, a private, two-day in-person intensive where I spill all my systems for immediate implementation in your business. There are only a few spots left this year, and prices will be going up in 2024. If you've been contemplating this, now is the time to lock in the 2023 prices.
Reach out to me, and let's schedule a conversation. Meanwhile, I'll be working on my next episode of Vita's Tip in 10. Talk to you next Thursday!