I have a cell phone and I drop about $100/month on service. Yet, I refuse to spend $600 on a snowblower. Why am I willing to spend twice as much on a phone but not spend a dime on a snowblower? This silly example illustrates a dichotomy on spending that everyone feels: Namely, my cell […]
Tag Archives: value
7 fast ways to discover new business opportunities
Businesses are more likely to survive, grow, and succeed when they fill a need. But sometimes finding that need isn’t always easy. You might know conceptually what the general need is but really zeroing in on the actual, tangible, hand-over-their-cash need is much more difficult to do. Once you know and fully understand the need, […]
What a $110 lightbulb can teach about sales and customer satisfaction
A few years ago, I bought a brand new furnace/air conditioning system from One Hour Heating and Air Conditioning. I’ve been very happy with the furnace and air conditioning system itself, although the company has struggled with delivering good service. If it wasn’t a requirement of the warranty, I would have dropped them years ago. […]
Small business strategy questions: What does your business do? And, What does your business sell?
Recently, I posted a list of 100 Small Business Strategy questions that every entrepreneur should ask themselves from time to time. The very first two questions of the list are… What does your business do? What does your business sell? Those questions are related yet different, and you need to answer them at the same […]
Value: The whole versus the sum of the parts
It’s a weird fact that the value of a car is actually less than the sum of its parts. In other words, if you were to go to a car dealership, you would actually spend less on the car you drive away with than if you were to buy the individual parts from the manufacturer […]