How do you go about creating value? Or more accurately, how do you go about creating value that people will appreciate? In terms of business, there are plenty of models that can assist in this regard. But that’s commercial value. That value has a price that is determined by the economic forces that be. The value in question is one that stands the test of time. How does one create that value?
Steve Jobs set out to build a laptop that everyone could use. Through Apple, he created the value that people greatly appreciated. And so, he was rewarded greatly for it. It goes to show that when great value is created, the world and the universe will respond in kind. To measure this value, I will use an economical scale.
The more valuable you are in the marketplace, the more you will earn. This is a key principle that Jim Rohn loved to stress in his lectures. At work, the easy way to raise your paycheck is to further your education. Get an extra skill or further your studies and surely, you will be lined up for a higher paycheck or even a promotion. As an entrepreneur, if you take the time to learn the needs of the market, tailor a product or service to provide that need, you will be rewarded justly. The principle is the same, the difference is the value that you create. The value of having an online store that sells practically everything is a great value that Jeff Bezos created through Amazon. Synman selling cigarettes in the local rank to the few smokers that pass him by, his fortune will not be so great because the value that he is creating is not as great.
Unless of course, the synman upscales his operations. He starts putting money aside and learning more about real business and not hood business. This increase in his knowledge will position him in a position to perhaps open a store and sell to more people. Through this, he will be creating more value to more people thus; this will increase his return on investments. He is selling the same product, but increasing its value by serving more people. The principle is the same in all business areas.
The key mistake, as identified by DJ DeMarco is that most of us see the event of success and not the process. We see the wealth of Steve Jobs but fail to see the months of experimenting with Steve Woznaick to create Apple. We see the wealth of Bill Gates but fail to see the countless nights he spent learning how to code and how to sell Windows. The instant gratification coding that is present in today’s society robs us of the appreciation of creating value. It is the process that leads to the event. This is a law that we see in nature as well. You can never have fruit without first planting the seed. And even so, you still need to wait for the seed to germinate, produce a stem, grow branches and still you have to wait for the fruits to develop on those branches.
This patience of planting and grooming the plant as it grows is the process that leads to the event of success. The event is the million rands that flow your way of course. The understanding of the process is what enables millionaires and great men to always bounce back even after they lose it all. This is seen with 50 cent who filed for bankruptcy but somehow managed to regain his millions. They is seen with Iron Mike who lost everything but is slowly regaining his respect, status and even his wealth again. As it is well known, lotto winners never keep the money. The only process that lotto winners know is scratching a card and hoping for the best.
To create value, it is important to understand the process. Steve Harvey said that to make a million, you first need to know how to make 10 bucks. He famously says that the same 35 dollar jokes he used starting out as a comedian, is the same jokes he uses now reaping millions. The key, he learnt the process of value creation and improved the process until millions began coming in.
It is value that attracts people to you. If you have no value or no value to provide, you will not attract people. Or more accurately, you will not attract the right people to elevate you into positions of life in which you desire to occupy. There is a reason why Bill Gates spends his time with Warren Buffet. There is a reason why Jay-Z is married to Beyoncé. This reason is not as profound as it may seem. It is simple: value. Beyoncé, the Queen she is, will not settle for any man less. To learn how to grow and maintain his wealth, there is no one better than Buffet for Bill Gates to learn from.
It may seem selfish and it may seem as if you see yourself higher than thou but it is critical to analyse the people you spend your time with. Directly or indirectly, they affect the amount of value you create or have the potential to create. As an aspiring entrepreneur, it is no good to hang around employee minded people. They won’t understand when you talk about things like using credit to create wealth. To the employee minded person, credit is to buy that Polo Vivo or that GTI with instalments. If you want to lose weight, it will serve you no good to be with people who to them food is an afterthought. In weight management, diet is everything and it will be wise to spend time with people who are serious about weight management too.
To create value, it requires a certain level of focus and dedication to it. It takes time to create real value. It requires patience and great faith. To protect this seed of value, it is important to weed out all the suffocating elements. Wrong associations, bad habits and everything else that you see to be a disturbance to your process of value creation.
There is more to value creation is this true. But, it begins with laying a seed. It begins with understanding that the seed you’ve planted is the gift you giving to the world. That gift is your price for living on this earth. The beautiful thing is that we can set the price ourselves. But remember, the higher price you set, the more quality you need to provide. The lower the price, well, maybe you’ll be a lucky lotto winner too.
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