How Can You Tell When Something Is Expensive?

Dallar Bills

People are funny. You can never guess 100% of the time what people are going to do or how they are going to react to certain situations.  The most unpredictable of all situations is when people have to spend money.

Before we go into this article, would you ever spend $1997 for a training course?

Most people’s reactions to this question would be “Heeeeeck no!”

$1997 is a lot of money, right?

Wrong.

The longer I’ve been an entrepreneur, the more I see that price is relative.  Yes, I admit it – I am a relativist, but only when it comes to money.

Years ago when all I had was my full-time job I used to think the way 99% of the west thinks.  Essentially we look at money as a necessary evil.  We try to earn enough to where we can leave happy and content lives and so that we are bothered with suffering and challenges…  you know, like good little hobbits.

Sure, the love of money is the root of all evil – but that does not mean that money is evil.

So getting back to the $1997…  that amount of money is cheap for a training course.  It’s cheap if it gives you the tools to make even more money, or provides more value than what you paid.

Don’t believe me?  Check this out…  The first business course that I took cost me around $3,000.  That course set me on a path to make over half a million dollars in revenue.  Would you pay $3000 to make over half a million dollars?

At the time, paying $3000 meant freedom from being 100% dependent on an employer.  It meant my wife being able to stay at home.  It meant that I could start challenging myself and grow in ways that I’ve never expected.

In the business world and in professional growth, you have to spend money.  If you aren’t spending money you’ll spend time.  Either one can be expensive.  Personally, I prefer to spend money more than I spend my time.

So the price of something is relative to the value that it brings to you.

Would I spend $10, $50, $500, $1000, $10,000 on a training course, or software, or advertising.  Yup! As long as it is going to save me time and make me money in the long run.  In fact, I’m currently saving for a $3000 Infusionsoft course that I’ve been dying to get into and a $10,000 conference to have 1-on-1 face time with a big name business guru.

I recently dropped $10,000 on private label products that should make me a profit of $6000 ($16000 gross)

So when I see people who say they have a specific need, but scoff at a $27 or $57 course it always makes me chuckle.  I chuckle because they don’t see the value.   They don’t see the value either because they don’t value their time, they have a short-term vision of money, they are comfortable with where they are at, or they don’t value the result that the course offers.

We are in a war

The enemy spends money.  Big corporations spend money.  The government spends money.  They all pay to improve their position on the battlefield.  Your entrepreneur neighbor that advocates for abortion spends money – and they spend a whole lot more money that you to grow their skills and talents only to give the results of those talents to dark things.

Entrepreneurs and professionals are the driving force for social justice (true social justice) in the world as this excerpt about Saint Escriva points out:

St. Josemaría captured perfectly the freedom of initiative highlighted in the writings of Pope John Paul II, especially in Sollicitudo Rei Socialis (1987). But he saw this freedom, not only from the standpoint of the entrepreneur trying to achieve his legitimate profit by the production and sale of goods and services, but also as the right of businessmen to contribute to the common good through not-for-profit initiatives. He motivated people in business to establish business schools in many parts of the world whose mission is to train men and women of business who commit themselves to work for a just and humane society as they operate and expand their respective businesses with the utmost professional competence and social responsibility. – From Development Strategies Inspired by Saint Jose Marie Escriva

If you don’t understand how money works, and if you balk at the thought of spending less than $100 to improve yourself or to start a business, you need to take a good hard look why.

Start reading books like Rich Dad, Poor Dad.  Understand why we as Catholics (who aren’t following the Churches teaching on business, by the way) are horrible stewards with our money (I am still working on this).

When we know how to use our money wisely, we can make big changes for the good.  Not only in our personal lives, but in the Church.

So next time you think something is expensive, ask yourself why.

 

 

 

 

 

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2 Comments

  • Thadeus

    Reply Reply April 15, 2015

    Dean,

    Thank you for this post! It gave me a different perspective on spending and I think it is helpful.

    • dean soto

      Reply Reply April 27, 2015

      You are welcome!

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