Is it your health, wealth or music subscription? Have you thought much about this? Observe what you say and do. This will help you understand what you really value, not just what you think or say you value.
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Tag: Value
Value Sorting
When you make decisions, you do so by sorting your values in a hierarchy. Sometimes that is why we find it hard to make a decision. If two important values are equally important we find it difficult to choose one over the other.
The value you put at the top of the hierarchy at any given time is your guiding factor in that moment. You can switch the top value depending on the subject at hand.
If winning is your core value, then anything else can be subordinated to that value. That is where cheating can enter the picture. However, it might not, if the persons value for fair play is higher than their desire to win.
So you can read someone’s value chart by the decisions they make. You can only read their value chart based on their current awareness though. If they haven’t become aware of the other values that could supersede or challenge their top one, then we can only see what they are doing with their current knowledge, self-awareness and personal bias.
Try to not project your story of them onto their value chart. You could say that a person is doing something for x or y reason. You really have no idea. But you can see what seems to be their highest value and get some insight into their intent. Have fun with this observational activity.
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Provide Value To Receive Money
The economy is not rigged. The world is not run by 30 all-powerful people. Think this through folks. You need to provide value to receive money.
Now there are a lot of other things you could receive. However, the main culture around the world is to give money to those providing a valuable product or service.
The greater the perceived value for the item in question, the greater the amount of money to change hands. No one forces you at gun-point to buy your groceries from Ocado or Tesco. Neither do people force you to use Amazon to buy books, gifts or tech equipment.
However, the natural flow of things means that if you do use a certain company to fulfil your desires, it will receive your money. So, if lots of people do this, the company will receive lots of money. No conspiracy or rigged system.
If you have a problem with your money going to Amazon employees, suppliers and shareholders, then stop using their services. It really is that simple. However, you are unlikely to stop the millions of other consumers from using their service. But if they did, they would shrink out of existence like Blockbuster and Kodak.
You need to provide value to receive money. What value are you creating for others?
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Perceived Value
Most people stay at a hotel so that they can get a night’s sleep in a bed. So other than the bed, does anything else matter? The perceived value is different for different people.
Some people would like more than the bed. They may wish to have a private shower, toilet and washbasin too. Lots of people require a specific level of cleanliness also. Others still, need a large room and blackout blinds.
But all of this may be irrelevant if the customer does not get a good night’s sleep. There are so many factors that affect perceived value. There are too many to list out in this short blog. However, it does seem to prove the point that beauty or value is in the eye of the beholder.
Think of all the factors that go into selecting your milk from a shop. It might be brand, taste, price, size or position on the shelf. That is from a product that is quite basic too. Imagine if there were lots of other factors like when considering a degree course.
A course is quite personal to you. You need to like the brand, the teacher or instructor, the topic, the location and the timings, to name a few key elements. Some people will pay $10,000 for a course with a specific outcome from a specific teacher.
Others will attribute little or no perceived value.
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Clubhouse Changes Things
Are you looking for the next big thing? You need to checkout this new app. It has the potential to really shake things up. Clubhouse changes things.
It is a fascinating platform. For those that don’t know, imagine a virtual radio talk show format. Anyone can create a room and speak on their favourite subject. Then, anyone can enter that room and either listen to the host or speak with them. Meanwhile more people enter the room and listen. Some may also join in the chat, or leave to go to another room they just heard was starting.
So, like talk radio or a conference, someone is the host. On this platform, they are called moderators. You can have one or many. And when people join the room, you can tap their photo and read their bio. This way you know more about the person who is there, whether they speak or not. Then you can follow them if they are in a space you are interested in.
It is a fascinating mix of speed dating, conferences, talk radio and social media connections. It looks like it has the opportunity to change everything. If you have something to say, that others are interested in listening too, you can gather a large audience and build your brand. It totally levels the playing field for everybody everywhere.
There is no investment in technical kit like a podcast or YouTube. You can have exposure to 100’s or 1,000’s of people in just a couple of hours. What is exciting, is it is with voice only. No distracting text messaging or over-sensory video. Just listen and speak. It may be much more effective as a communication tool.
Clubhouse changes things.
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Value Judgements And Tradeoffs
Making decisions is easier when you know what you value. We are constantly assessing and prioritising our value judgements and tradeoffs.
Imagine you’re going to the shop with a £5 note. You intend to buy milk, bread and cereal. However, on your way, you walk past a newsstand with the latest edition of your favourite magazine.
Now you need to decide if the food is more important or the magazine. Alternatively you could return home for more cash to consume it all. But that would require more time at this moment. So now you need to create a hierarchy of values.
Do you value your time more now (perhaps you’re in a rush to a meeting)? Perhaps the magazine articles will help you understand a critical subject for a work project. Or maybe your child has been ill and not eaten for three days. Though now they want their favourite cereal and bread.
What item will be most important to you and your life in this very instant? The decisions and tradeoffs need to be made now.
Your views and circumstances may change in six months or six years. Nonetheless, you need to make this decision right here and now.
We are constantly making momentary value judgements and tradeoffs. Remember though, so is everyone else.
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