Captain’s log, stardate 20210731

Where is the value?

A Rolex has a face and it has hands and it has a crown.

It does not have a value.

The face, hands, and crown are properties of the object (i.e., they are objective).

The value of the object is a perception in the mind of a subject who is considering the object (i.e. it is subjective).

To illustrate...

If you asked a hundred people how many faces a particular Rolex had, everyone would give the same answer.

If you asked a hundred people the maximum amount of money they would pay for a particular Rolex, you’d get a hundred different answers.

Here’s the thing...

What you do is worth a different amount of money to everyone who encounters it.

Understanding this deeply is a precondition to effectively value pricing your work.

Yours,

—J


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