Measuring value
My last blog was about learning from others, and I enjoy challenging myself. I mentioned Dan Rockwell, who is nationally recognized and valued; his writing often challenges me.
Today I want to pass along a lesson I learned from a local friend: Brandyn Miller of MyClearMessage.com.
In a recent business mastermind together, Brandyn gave me this equation for measuring value:
DREAM OUTCOME ✖️ PERCEIVED LIKELIHOOD OF SUCCESS ➗ TIME DELAY ✖️EFFORT & SACRIFICE 🟰 VALUE
This means that I figure out the benefits and likelihood of reaching my desired outcome, then place that over the amount of time and effort it will take. In this way, I can measure the value.
This explains why a gym membership costs $50 (a lot of time and effort is involved in shaping that perfect beach body). Still, liposuction costs $50k because the result comes fast, with no effort, and potentially more remarkable “beauty” (at least until you return to the pizza restaurant).
It’s a valuable insight and one we can apply to communication.
Imagine your most significant communication challenge, whether with someone at work or home. The desired outcome would be to reach understanding and agreement, to align that interaction toward mutual benefit. The value of that is high for you both. The critical question is, “what are you prepared to invest in achieving that resolution?”
Typically, we invest time, and often frustration, into our communication challenges, or we accept the dysfunction and the consequent loss. This is costly for productivity, as well as relationally. But there is an alternative.
The Life Languages™️ communication analysis system is a good-sense up-front investment that can increase our understanding of one another and improve the value of our equation over time. The more you apply your learning around the seven languages, the more benefit you derive.
That’s value!
And a personal note: I have consistently underpriced my coaching, thinking this would make it more widely available. Now I realize that failing to communicate the value is a greater hindrance to acceptance than the price. So, I am introducing my Value promise: I price my services to serve those on tight budgets. The value is higher than the price. If price is a barrier to you seeking coaching, please contact me directly.