Value and Cost are Not the Same

What is value and what does it mean? It can be easy to confuse the value and the cost of a product or service but understanding the difference is a key driver for any business. In this episode hear about the difference between value and cost and how you can achieve a balance – providing what everyone wants - value above and beyond balanced with a cost that reflects proportionately the work that has taken place.   KEY TAKEAWAYS People confuse value and  cost, they are not the same thing Value is the amount of benefit your product or service provides to the customer. Cost is the amount your customer pays for something Ideally, you want the value to outweigh the cost so your customers come back. Your charge should be proportionate so you are earning what you are worth, it’s important to strike a balance. There are different ways services provide value with products such as high-ticket items adding value through status. Identify the intrinsic value of your product or service and then work out how you can go above and beyond. Always aim to over-deliver to move your business forward.   BEST MOMENTS ‘The more value they get from something the more they are going to keep coming back’ ‘It’s about looking to see where you can add value and offer a service’ ‘Some people confuse value and cost  but they are not the same thing’   VALUABLE RESOURCES The Property Entrepreneur Podcast   ABOUT THE HOST Welcome to the Property Entrepreneur Podcast. We don’t know about you, but we’re fed up of being broke and relying on exchanging time for money working for others. Join Gordon Done on his journey to becoming a full-time property investor. You’ll get a no holds barred introduction to property entrepreneurship. It doesn’t matter if you’re completely new to property or you’ve been working in property for years; we’ll give you the tools you need to create a mindset for success. We’ll help you avoid any mistakes we make along the way while giving you the blueprint to any successes we achieve. Join us on our journey to becoming professional property investors and learn how you too can become financially free through property entrepreneurship.   “Financially free…Brick by Brick”   CONTACT METHOD https://www.facebook.com/The-Property-Entrepreneur-Podcast-519677241877352/ https://www.instagram.com/thepropertyentrepreneurpodcast/ https://www.thepropertyentrepreneurpodcast.com/ [email protected]